Global Unsaturated Polyester Resins Market to Grow at 5.1% During 2024-2032, Spurred by Increasing Demand for Fiber-Reinforced Plastics

According to the latest report by IMARC Group, titled "Unsaturated Polyester Resins Market Report by Type (Orthophthalic Resin, Isophthalic Resin, Dicyclopentadiene (DCPD) Resin, and Others), End-Use (Building and Construction, Automotive, Marine, Pipes, Ducts and Tanks, Wind Energy, Electrical and Electronics, and Others), Form (Liquid Form, Powder Form), and Region 2024-2032," the global unsaturated polyester resins market size reached US$ 13.2 Billion in 2023. Unsaturated polyester resins (UPR) can be referred as the condensation products of unsaturated acids or anhydrides and diols. They are a form of thermoset molding resins that are widely utilized in the manufacturing of plastic composites. They are generally characterized by excellent surface finish, high rigidity, improved electrical insulation, high tensile and impact strength, exceptional resistance against heat and corrosion, and dimensional stability against temperature variations. As a result, they are extensively employed for the manufacturing of wood paints, coatings, composite materials, laminated panels, sanitaryware, and corrugated panels.

Global Unsaturated Polyester Resins Market Trends:

The global market is primarily driven by the rising demand for fiber-reinforced plastics (FRP) across numerous industries, such as marine, construction and transportation. FRPs are lightweight, affordable, flexible in component designing and offer excellent corrosion resistance. Since they are commonly manufactured using UPRs, this providing a thrust to the market growth. Moreover, significant growth in the construction sector is creating a positive outlook for the market. UPRs are increasingly employed in the sector for manufacturing doors, building panels, forming pans, concrete rebars, electrical boxes and floor grafting. The market is further driven by the extensive research and development (R&D) activities conducted by the players to launch bio-based UPRs that are characterized by excellent strength and improved recyclability. This, coupled with the continual technological advancement in the market, is acting as a major growth-inducing factor. Some of the other factors contributing to the market growth include the growing product utilization in the chemical industry for manufacturing adhesives, castings, and composites, and the widespread preference for non-reinforced cross-linked UPRs in the production of automotive repair components. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 5.1% during 2024-2032.

Market Summary:

• On the basis of the type, the market has been divided into orthophthalic resin, isophthalic resin, dicyclopentadiene (DCPD) resin, and others.
• Based on the end-use, the market has been classified into building and construction, automotive, marine, pipes, ducts and tanks, wind energy, electrical and electronics, and others.
• On the basis of the form, the market has been bifurcated into liquid and powder forms.
• On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
• The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include AOC LLC, Ashland LLC, BASF SE, CCP Composites Ltd, E. I. Du Pont, Allnex Resins Australia Pty Ltd, Polynt Composites USA Inc., Reichhold Inc., Koninklijke DSM N.V., Scott Bader Company Ltd., and Upc Technology Corporation.

Report Coverage:

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