Types of Unsaturated Polyester Resins: Understanding Market Dynamics

The global unsaturated polyester resin market currently holds an estimated US$ 13.1 billion and is likely to grow at a CAGR of 5.5% from 2023 to 2033.

The global unsaturated polyester resin market currently holds an estimated US$ 13.1 billion and is likely to grow at a CAGR of 5.5% from 2023 to 2033. In the context of the end of the forecast period, thereby, global demand for unsaturated polyester resins is estimated to place revenue of US$ 22.5 billion. The market for unsaturated polyester resin (UPR) has been growing at a tremendous rate recently, as the product is used in an extensive range of applications spread across diverse fields like automotive, construction, marine, and electronics. It is found to be versatile, durable, and relatively inexpensive, which makes it a prime constituent of composite materials.

Get Free Sample Copy of This Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=4731

Market Overview and Growth Drivers

The UPR market is destined to grow to an enormous extent as the demand is growing from the prime segments such as automotive, construction, and marine. The main factor is that, unlike metals, lightweight material is the preference, and the use of UPR is considerable in these lightweight sheets in automotive manufacturing. It goes with the latest trend or objective in the automotive sector: fuel efficiency and reducing emissions. In the construction industry, unsaturated polyester resins have good applications as a material used for roofs, pipes, and tanks.

Another important volume consumer of UPR is the renewable energy industry, primarily in the fabrication of wind turbine blades. The demand for sustainable energy sources has further boosted the demand for UPR because it is capable of achieving an ideal strength flexibility balance, which was necessary for the manufacture of big composite structures like turbine blades.

Key Companies Profiled

  • Reichhold Inc.
  • Koninklijke DSM N.V.
  • Tianhe Resin Co. Ltd.
  • BASF SE
  • Polynt
  • UPC Group
  • Scott Bader Company Ltd.
  • U-PICA Company Ltd.
  • INEOS
  • Satyen Polymers Pvt. Ltd.
  • Eternal Materials Co. Ltd.
  • LERG SA
  • Dow Chemical

Types of Unsaturated Polyester Resins

The two major categories of unsaturated polyester resins are orthophthalic and isophthalic. Orthophthalic is primarily used in less demanding applications, whereas isophthalic provides better strength and chemical resistance properties, which makes them ideal for high-performance applications in the marine and automotive industries. The market further consists of specific varieties like flame-retardant polyester resins, which have an increasing requirement in industries such as construction and aerospace due to the mandatory fire safety requirements.

Regional The Asia-Pacific region dominates the market, with the rapid industrialization and urbanization of countries in this region, especially China and India. The construction boom in those regions, along with the expansion of the automotive sector, has been a significant consumer of UPR. In addition, the region boasts raw material availability at competitive prices and a highly skilled labor force, with which to go on and become an UPR manufacturing hub.

In North America and Europe, demand for UPR is encouraged by strict environmental regulations as well as a trend toward sustainable materials. Wind energy has also been an increasing demand area within those regions because UPR is used in lightweight and robust wind turbine blades.

Barriers and Opportunities

Despite its path of steady growth, the market of UPR is coupled with various issues. The most relevant ones are discussed in the above section. First is the variable price of raw materials, with styrene being the major one since it is used as the primary ingredient in the synthesis of unsaturated polyester resins. This fluctuation of crude oil prices normally affects the cost of styrene and makes the market unpredictable.

However, this trend can bring great opportunities to the market for UPRs in this era of eco-friendly and bio-based resins. Companies are investing in high research and development to provide more sustainable alternatives to traditional resins and reduce their environmental impact even as they meet the evolving regulatory standards in different regions.

Get Customization on this Report for Specific Research Solutions: https://www.factmr.com/connectus/sample?flag=RC&rep_id=4731

Competitive Landscape

Highly competitive with a strong focus toward increasing production capacities and developing new product formulations to fulfill changing customer requirements. Main players in the market include Ashland, Reichhold, and DSM. Companies invest in innovation, especially resins, for better performance characteristics such as improved heat resistance and increased durability.

The other significant competitor who encourages competitive landscape is through strategic partnerships and mergers and acquisitions seeking emerging market entry. Expansion in Asia-Pacific and Latin America continues to remain one of the most common trends among leading manufacturers.

Conclusion

This market for unsaturated polyester resin is seen with healthy growth opportunities. Sustained growth in this market is envisioned with increasing adoption in the automotive, construction, and renewable energy industries. While raw material price continues its upward and downward rhythm, the space for innovation in this market by bio-based and high-performance resins opens new possibilities for growth. So, while the demands of diversified industries for lighter, strong, and less costly materials are increasing in the markets, the impact of UPR will become tougher to ignore for the future of composites.

About Fact.MR :

We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client’s satisfaction.

Contact:

US Sales Office

11140 Rockville Pike

Suite 400 Rockville, MD 20852

United States Tel: +1 (628) 251-1583, +353-1-4434-232 (D)

Sales Team: sales@factmr.com