Global Unsaturated Polyester Resins Industry: Key Statistics and Insights in 2024-2032
Summary:
- The global unsaturated polyester resins market size reached USD 13.2 Billion in 2023.
- The market is expected to reach USD 20.9 Billion by 2032, exhibiting a growth rate (CAGR) of 5.1% during 2024-2032.
- Asia Pacific leads the market, accounting for the largest unsaturated polyester resins market share.
- Orthophthalic resin accounts for the majority of the market share in the type segment as it offers good mechanical strength and resistance to corrosion.
- Building and construction holds the largest share in the unsaturated polyester resins industry.
- Powder form remain a dominant segment in the marketdue to their ability to be easily mixed with fillers and other additives.
- The thriving construction sector is a primary driver of the unsaturated polyester resins market.
- The rising demand for marine applications and the increasing adoption in wind energy are reshaping the unsaturated polyester resins market.
Industry Trends and Drivers:
- Thriving Construction Industry:
The construction industry is a significant driver of the unsaturated polyester resins (UPR) market due to UPR’s excellent strength, durability, and resistance to environmental factors. UPRs are widely used in construction for applications like roofing, pipes, tanks, and concrete reinforcements because of their lightweight yet robust properties. There is a rise in the demand for corrosion-resistant materials in the construction industry. UPR’s ability to withstand harsh chemicals and environments makes it ideal for water treatment plants, bridges, and commercial roofing. Furthermore, the increasing investments in smart cities, along with rapid urbanization, are catalyzing the demand for UPR. The material’s versatility, combined with the need for efficient and long-lasting construction solutions, is contributing to the market growth.
- Rising Demand for Marine Applications:
The growing demand for UPRs in the marine industry on account of their outstanding resistance to water, salt, and chemicals is offering a favorable market outlook. UPRs are widely used in the manufacturing of boats, yachts, and other marine structures, where their durability and lightweight properties enhance performance and reduce maintenance costs. In the marine sector, materials must endure constant exposure to corrosive elements, and UPR’s resilience makes it a cost-effective choice for hulls, decks, and other structural components. In line with this, with the growth of the global marine industry, particularly in recreational boating and maritime transport, the demand for UPRs is rising. Furthermore, UPRs play a role in reducing vessel weight and improving fuel efficiency, aligning with environmental regulations and industry standards.
- Increasing Adoption in Wind Energy:
The wind energy sector is increasingly adopting UPRs, driven by the global shift toward renewable energy and the need for lightweight and strong materials in wind turbine manufacturing. UPRs are primarily used in the production of wind turbine blades because of their superior mechanical properties, such as high strength, durability, and resistance to environmental factors like ultraviolet (UV) radiation and moisture. These qualities make UPRs an optimal material for large-scale and high-performance wind turbines that must withstand extreme weather conditions. The rising focus on reducing carbon emissions and meet renewable energy targets is bolstering the market growth. UPRs can enhance turbine efficiency by reducing the overall weight of the blades while maintaining structural integrity.
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Unsaturated Polyester Resins Market Report Segmentation:
Breakup By Type:
- Orthophthalic Resin
- Isophthalic Resin
- Dicyclopentadiene (DCPD) Resin
- Others
Orthophthalic resin accounts for the majority of shares as it offers good mechanical strength and resistance to corrosion.
Breakup By End-Use:
- Building and Construction
- Automotive
- Marine
- Pipes, Ducts and Tanks
- Wind Energy
- Electrical and Electronics
- Others
Building and construction dominate the market on account of the rapid urbanization.
Breakup By Form:
- Liquid Form
- Powder Form
Powder form represents the majority of shares due to their ability to be easily mixed with fillers and other additives.
Breakup By Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific enjoys the leading position owing to a large market for unsaturated polyester resins driven by the thriving construction sector.
Top Unsaturated Polyester Resins Market Leaders:
The unsaturated polyester resins market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:
- AOC LLC
- Ashland LLC
- BASF SE
- CCP Composites Ltd
- Du Pont
- Allnex Resins Australia Pty Ltd
- Polynt Composites USA Inc.
- Reichhold Inc.
- Koninklijke DSM N.V.
- Scott Bader Company Ltd.
- UPC Technology Corporation
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