Beyond the Basics: High-Performance Applications Fueling Unsaturated Polyester Resin Market
The market for unsaturated polyester resin is expected to grow steadily and reach a value of more than USD 16 billion by 2028. At its estimated 2022 value of USD 11.2 billion, this corresponds to a compound annual growth rate (CAGR) of more than 6%.
Rock Jhon
The Unsaturated Polyester Resin Market Is Expected to Continue Growing
Unsaturated polyester resin market analysis and factors influencing future growth are examined in a recent study. Together with the effects of several economic indicators on a global and regional level, this also covers long- and short-term trends.
The study provides a comprehensive overview of the market, including current trends, growth projections for the future, and market size expressed in US dollars. With a Compound Annual Growth Rate (CAGR) of more than 6% between 2022 and 2028, the study projects a robust upswing in the unsaturated polyester resin market going forward.
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Unsaturated Polyester Resin Market Booming: Growth Driven by Construction and Manufacturing.
The market for unsaturated polyester resin is expected to grow steadily and reach a value of more than USD 16 billion by 2028. At its estimated 2022 value of USD 11.2 billion, this corresponds to a compound annual growth rate (CAGR) of more than 6%. Polyester resins that are unsaturated are a flexible substance that can be applied to many different situations. These resins serve a vital role in production, from standard items like pipes, tanks, and sanitary ware to high-performance parts in boats, fenders, and transportation components. Their applications extend to adhesives and coatings, where they improve performance and efficiency.
Numerous reasons are driving the expansion of the market for unsaturated polyester resin. Strong demand for these resins is being generated by the infrastructure's quick development.
The Unsaturated Polyester Resin Market by Region is Led by Asia Pacific
There are four geographical segments of the unsaturated polyester resin market: North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific dominates all of them, with the biggest market share, as well as the highest production and consumption of unsaturated polyester resins.
There are various reasons for this dominance:
Cost Advantage: Production is more affordable in the area due to lower labour expenses.
Government initiatives: By encouraging local production, initiatives like "Make in India" help to increase demand.
Economic Growth: The demand for composite materials, which are frequently manufactured with unsaturated polyester resins, is on the rise due to the rapid economic expansion of nations like China, India, and Japan.
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Market keyplayers : These key players include established names like Reichhold, Royal DSM, Deltech LLC, and Polynt, alongside prominent figures like Dow, Eternal Materials Co.,Ltd., INEOS, U-PICA Company. Ltd., Scott Bader Company Ltd., and AOC Resins.
