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According to the latest report by IMARC Group, titled "Unsaturated Polyester Resins Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global unsaturated polyester resins market exhibited moderate growth during 2015-2020. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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 around 5% during 2021-2026.
Market Summary:
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