Unsaturated Polyester Resins Global Market Report 2023
Major players in the unsaturated polyester resins market are INEOS Group, UPC Technology Corporation, Ashland, BASF SE, Eternal Materials Co. Ltd., Interplastic Corporation, LERG SA, Qualipoly Chemical Corporation, Scott Bader Company Ltd.
New York, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Unsaturated Polyester Resins Global Market Report 2023" - https://www.reportlinker.com/p06310141/?utm_source=GNW
, SHOWA DENKO K.K, Sino Polymer Co. Ltd., and Lanxess AG.
The global unsaturated polyester resins market grew from $9.67 billion in 2022 to $10.31 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The unsaturated polyester resins market is expected to grow to $13.28 billion in 2027 at a CAGR of 6.5%.
The unsaturated polyester resins market consists of sales of vinyl polyester resins.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The unsaturated polyester resins are mainly used in the production of fiber-reinforced plastics and filled plastic products and are obtained from the reaction of polyalcohol and polyacids.Unsaturated polyester resins are also used in tanks, sanitary ware, pipes, gratings, and high-performance components for the marine and transportation industry such as closure and body panels.
They are cost-efficient, have good temperature tolerance capacity, and have resistance to water and chemicals.
Asia-Pacific was the largest region in the unsaturated polyester resins market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the unsaturated polyester resins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of unsaturated polyester resins are orthophthalic resins, isophthalic resins, dicyclopentadiene, and others.Orthophthalic resin is a type of low-styrene emission orthophalic that is a thixotropic polyester resin and improves the working environment during and after application.
The various forms available are liquid form and powder form and are used by various end-users such as building and construction, automotive, marine, pipes, ducts and tanks, wind energy, electrical and electronics, and others.
Growth in the construction industry is significantly contributing to the growth of the unsaturated polyester resins market.The construction industry is involved in maintaining, repairing structures and buildings, and making new construction buildings.
The growth in the building and construction industry drives the unsaturated polyester resins industry as they have the properties such as rapid strength gain, chemical resistance, corrosion resistance, high impact strength, and excellent compressive strength properties that are helpful in building and construction activities.There is a growth in the construction industry.
For instance, according to the Ministry of Statistics and Programme Implementation (MoSPI), a ministry of the Government of India concerned with coverage and quality aspects of statistics released, in April-June 2021, the construction sector grew at 68.3% in India from April-June 2020. Therefore, growth in the construction industry is driving the unsaturated polyester resins market.
Product innovations are the key trends gaining popularity in the unsaturated polyester resins market.Unsaturated polyester resins-based technologies are being used for repairing activities.
The end-users are adopting innovations to use better products in their operations.For instance, according to data by the defense research and development organization updated in 2021, a fast setting and high strength polymer concrete composite (PolyCC) technology was developed as the binder resin based on an unsaturated polyester resin system to repair runways.
It offers compressive strength by providing three-dimensional cross-linking within two hours. This is an innovative technology that does not require water and is workable in hot as well as sub-zero temperature conditions.
In December 2020, AOC AG, a Switzerland-based company operating in resins and specialty materials acquired unsaturated polyester resin (UPR) manufacturing operations in Usti nad Labem in the Czech Republic for an undisclosed amount.With this acquisition, AOC will improve its services and will make new products in central and Eastern Europe for its customers.
The UPR plant operates in the manufacturing of resins.
The countries covered in the unsaturated polyester resins market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The unsaturated polyester resins market research report is one of a series of new reports that provides unsaturated polyester resins market statistics, including unsaturated polyester resins industry global market size, regional shares, competitors with a unsaturated polyester resins market share, detailed unsaturated polyester resins market segments, market trends and opportunities, and any further data you may need to thrive in the unsaturated polyester resins industry. This unsaturated polyester resins market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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