Unsaturated Polyester Resin Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Unsaturated Polyester Resin Market is segmented By Type (Orthophthalic resin, Isophthalic resin, Dicyclopentadiene (DCPD) resin, Others), By End User (Automotive, Building and Construction, Marine, Pipes and Tanks, Wind Energy, Electrical and Electronics, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Unsaturated Polyester Resin Market Overview

The Global "Unsaturated Polyester Resin Market" is expected to grow at a high CAGR of 6.3% during the forecasting period (2024-2031).

Unsaturated Polyester Resin Market

Unsaturated polyester resins (UPRs) are synthetic resins formed by the reaction of a dibasic organic acid and a polyhydric alcohol. APRs are thermoset resins that are capable of being recovered from a liquid or solid-state. This type of resin is mostly used in the marine industry for manufacturing yachts and workboats.

Unsaturated Polyester Resin Market Dynamics and Trends

One of the most significant drivers of the global UPR market is the growth in end-use industries. The ever-increasing need for high standards in all modern applications is driving the demand for UPRs. With the need for better quality standards in the end-use industries, players operating in this space are focusing on developing improved application and performance properties of UPR, such as faster curing time, better finishing, and high corrosion resistance.

Companies are creating high-performance materials, technological solutions, innovative applications, and product development, all of which will positively impact the market's growth during the forecast period. For instance, DSM’s Beyond 177, 170, and 285 resins are based on DCPD, ortho, and vinyl ester chemistries, respectively. These resins are widely used for different applications, such as in the marine, building and construction, and automotive industries.

One of the most vital challenges faced by the market is the need for styrene in the manufacture of UPRs. Styrene is a highly flammable and toxic material, which is harmful to human health.

Unsaturated Polyester Resin Market Segmentation Analysis

Based on the end-user, the global Unsaturated Polyester Resin market is broadly segmented classified into building and construction, automotive, pipes and tanks, marine, electrical and electronics, wind energy, and others.

Building and construction industry holds the majority of the market share in 2018. The global UPR market for building and construction was valued at $XX million in 2018 and will reach $XX million by 2026, growing at a CAGR of XX%. The building and construction sector holds the largest share of the global market and is expected to continue its growth trajectory over the next five years. UPR has widespread applications in the construction sector, as this type of resin is utilized in the manufacture of FRP, artificial stones, marbles, granites, and putties. The building and construction sector is the most important application segment for the market, especially as emerging economies make substantial investments in the infrastructure sector's improvement and development. In line with this, the rapid expansion of the building and construction sector in Nigeria, Kenya, and Brazil has positively influenced the global UPR market's growth.

Unsaturated Polyester Resin Market Geographical Share

Based on the region, the global Unsaturated Polyester Resin market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Among all of the regions, Asia Pacific dominated the global Unsaturated Polyester Resin market owing to growth in the end-user industries, such as composites and automotive manufacturing. One of the major factors propelling the region's growth is the rapid industrialization of countries such as Malaysia, India, and China. Key players shift their manufacturing units in these countries due to favorable factors like relaxed norms, cheap labor, and a wide customer base.

North America's market is growing at a moderate rate, primarily due to resin products' maturity levels in the building and construction sector. In 2016, the US accounted for the North American market's largest share, followed by Canada and Mexico. The growth of the market can mainly be attributed to the rapid expansion of the end-use industries in North America. Modern technologies and innovations in design solutions, products, and applications will positively impact the market's growth in the coming years.

Unsaturated Polyester Resin Companies and Competitive Landscape

Leading players in the global UPR market are Ashland, DSM, BASF, Reichhold, and Polynt. These companies manufacture orthophthalic, isophthalic, DCPD, and other types of resins. These players have a vast geographical presence with large production facilities located globally. A sizeable number of small regional vendors also operate in the market and have significant shares. The competition in the market will further intensify over the next five years, increasing product extensions and technological innovations.

Why purchase the report?

• Visualize the composition of the global Unsaturated Polyester Resin market products across each indication regarding the product type, resign, and end-user highlighting the critical commercial assets and players.

• Identify commercial opportunities in the Unsaturated Polyester Resin products market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of the Unsaturated Polyester Resin products levels 4/5 segmentation.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the essential Unsaturated Polyester Resin of all major market players.

Target Audience2024

•          Equipment Suppliers/ Buyers

•          Service Providers/ Buyers

•          Industry Investors/Investment Bankers

•          Education & Research Institutes

•          Research Professionals

•          Emerging Companies

•          Manufacturers