Unsaturated Polyester Resin Market Size & Growth Analysis to 2030

The global unsaturated polyester resin market size is anticipated to register a significant CAGR of over 6% during the forecast period from 2022 to 2028. The increasing use of the product in various end-use industries such as construction, transportation, tanks & pipes, and wind energy is a prominent factor driving the market growth. Furthermore, the increasing use of the product in glass fiber-reinforced plastics and the growing demand for eco-friendly and energy-saving products is further anticipated to boost the market growth over the forecast period. Moreover, the properties associated with the product such as excellent tensile and bonding strength, corrosion resistance, and heat resistance are expected to increase the demand for these resins in the construction and transportation sector which is anticipated to fuel the market growth.

Market Drivers:

Growing Construction and Infrastructure Development: The construction industry is a significant consumer of unsaturated polyester resin. It is used in various applications such as pipes, tanks, panels, roofing, and composites for construction purposes. The increasing demand for residential and commercial buildings, infrastructure development projects, and urbanization drive the demand for unsaturated polyester resin.

Increasing Demand from the Transportation Industry: Unsaturated polyester resin finds extensive use in the transportation industry for manufacturing lightweight and durable components. It is used in the production of automotive parts, such as body panels, bumpers, interior trim, and under-the-hood components. The growing automotive industry, coupled with the emphasis on fuel efficiency and vehicle weight reduction, contributes to the demand for unsaturated polyester resin.

Expansion of the Wind Energy Sector: Unsaturated polyester resin is widely used in the production of wind turbine blades due to its excellent mechanical properties, high strength-to-weight ratio, and resistance to environmental factors. The increasing focus on renewable energy sources, particularly wind energy, drives the demand for unsaturated polyester resin in the wind energy sector.

Growing Demand for Composites: Unsaturated polyester resin is a key component in composite materials. Composites offer advantages such as high strength, corrosion resistance, and design flexibility, making them suitable for various applications across industries such as aerospace, marine, electrical, and sports. The increasing demand for lightweight and high-performance materials fuels the growth of the composites market, thereby driving the demand for unsaturated polyester resin.

Shift towards Environmentally Friendly Materials: There is a growing emphasis on using environmentally friendly materials in various industries. Unsaturated polyester resin can be formulated with bio-based or recycled content, offering a more sustainable alternative to traditional petroleum-based resins. The demand for eco-friendly materials and the adoption of sustainable practices drive the market for unsaturated polyester resin.

Advancements in Manufacturing Technologies: Technological advancements have led to the development of improved manufacturing processes for unsaturated polyester resin, resulting in enhanced product properties and performance. These advancements include resin formulations with better mechanical properties, faster curing times, and reduced VOC emissions. The continuous innovation and development of manufacturing technologies contribute to market growth.

Increasing Demand for Corrosion-Resistant Materials: Unsaturated polyester resin exhibits excellent resistance to corrosion, making it suitable for applications in harsh environments, chemical processing, and water treatment industries. The increasing need for corrosion-resistant materials drives the demand for unsaturated polyester resin as an alternative to metals and other materials susceptible to corrosion.

Growing Awareness of Composite Recycling: With the increasing use of composites in various industries, there is a growing focus on composite recycling to minimize waste and environmental impact. Unsaturated polyester resin can be recycled and reused in various applications, promoting a more sustainable approach to material usage. The awareness and adoption of composite recycling drive the demand for unsaturated polyester resin.

Favorable Government Policies and Regulations: Governments and regulatory bodies are implementing policies and regulations to promote the use of sustainable and environmentally friendly materials. These policies include incentives, mandates, and standards that encourage the adoption of eco-friendly materials such as unsaturated polyester resin. The favorable regulatory environment supports market growth.

Market Snapshot:

Market Insights:

By product, orthophthalic resins segment dominated the global unsaturated polyester resin market in 2021

The global unsaturated polyester resin market is bifurcated into product, form, end-use, and geography. On the basis of product, the market is further segmented into DCPD, orthophthalic, isophthalic, and others. The orthophthalic segment dominated the global market in 2021 and expected to hold the largest revenue share of over 1/3 market share by 2028. The increasing use of the product in various end-use industries due to its various properties such as low thermal stability, corrosion resistance, and low cost compared to others is estimated to drive the segment growth. Furthermore, the increasing use of the product in various applications such as adhesives, castings, composites, flooring materials, polymer concrete, etc, is further anticipated to propel the segment growth over the forecast period.

By end-use, the the building & construction segment is accounted to hold the largest market share in 2021

On the basis of end-use, the market is segmented into building & construction, tanks & pipes, electrical, marine, and others. The building & construction end-use segment dominated the global unsaturated polyester resins market in 2021 and anticipated to hold a significant revenue share of over 1/4 market share by the end of the analysis period. The increasing demand for the product in various applications such as roofing, composites, reinforcement, and concrete is a prominent factor to drive the segment growth. Furthermore, the increasing investment in the construction sector in developing economies such as India, China, Brazil, etc, is further anticipated to fuel the segment growth over the forecast period.

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The unsaturated polyester resin comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2022 to 2028. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The unsaturated polyester resin market research report presents the analysis of each segment from 2019 to 2028 considering 2021 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2022 to 2028.

Historical & Forecast Period

• 2019-20 – Historical Year
• 2021 – Base Year
• 2022-2028 – Forecast Period

Market Segmentation:

By Product:

• DCPD
• Orthophthalic
• Isophthalic
• Others

By Form:

• Liquid
• Powder

By End-Use:

• Building & Construction
• Tanks & Pipes
• Electrical
• Marine
• Transport
• Artificial Stones
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Regional Analysis:

By region, the increasing demand for UPR in various industries is expected to dominate the market in the Asia Pacific 

On the basis of region, the Asia Pacific dominated the global unsaturated polyester resin market in 2021 and expected to maintain its dominance over the forecast period. The increasing demand for UPR in various industries such as construction, transportation, electronics, and marine is a major factor to drive the market growth in the region. Furthermore, the significant growth in automotive manufacturing and the growing investment in the construction industry in developing economies is further anticipated to fuel the market growth in the Asia Pacific.

Geographically, the unsaturated polyester resin market report comprises dedicated sections centering on the regional market revenue and trends. The unsaturated polyester resin market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The unsaturated polyester resin market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Unsaturated polyester resin market estimates have also been provided for the historical years 2019 & 2020 along with forecasts for the period from 2022 – 2028.

Competitive Assessment:

Some of the major market players operating in the global unsaturated polyester resin market are AOC, LLC, INEOS, BASF SE, Polynt, and LERG SA. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• AOC, LLC
• INEOS
• BASF SE
• Polynt
• LERG SA
• Koninklijke DSM N.V.
• U-PICA Company. Ltd.
• Eternal Materials Co., Ltd.
• Satyen Polymers Pvt. Ltd.
• CIECH Group
• Dow Inc.
• UPC Group

Key Questions Answered by Unsaturated Polyester Resin Market Report

• Global unsaturated polyester resin market forecasts from 2022-2028
• Regional market forecasts from 2022-2028 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2022-2028 covering 15 major countries from the regions as mentioned above
• Unsaturated polyester resin submarket forecasts from 2022-2028 covering the market by product, form, end-use, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about the market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level unsaturated polyester resin markets from 2022-2028
• Competitive Landscape and market positioning of the top 10 players operating in the market