Unsaturated Polyester Resins (UPR) are a type of thermosetting polymer derived from the reaction between a polyol and an unsaturated monocarboxylic acid or anhydride. This chemical reaction produces a polyester resin that can undergo further polymerization when exposed to heat or various curing agents. The report "Unsaturated Polyester Resins Market by Type (Ortho phthalic, Isophthalic & DCPD), End-Use Industry (Building & Construction, Marine, Transportation, Pipes & Tanks, Artificial Stone, Wind Energy, Electrical & Electronics) & Region - Global Forecast to 2026" The Unsaturated polyester resin market size is projected to reach USD 12.9 billion by 2026. The global unsaturated polyester resins market size will grow to USD 12.9 billion by 2026 from USD 9.6 billion in 2021, at a CAGR of 6.1% during the 2021-2026 period. The driving factor for the UPR’s market is its economic price in comparison with other resins and high growth in end-use industries like Building & Construction and Wind energy.
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Unsaturated Polyester Resins (UPR) Market demand spans across:
- Building & Construction: UPR is favored for its high strength and durability, making it suitable for construction materials, laminates, and composites.
- Marine: UPR is prevalent in boat building, providing lightweight, corrosion-resistant solutions for hulls, decks, and components.
- Transportation: Widely used in automotive and aerospace applications for its lightweight properties, contributing to fuel efficiency.
- Pipes & Tanks: UPR is employed in the manufacturing of corrosion-resistant pipes and storage tanks, ensuring longevity and reliability.
- Artificial Stone: UPR plays a key role in the production of synthetic stone surfaces, offering versatility in design and durability.
- Wind Energy: UPR is used in the manufacturing of wind turbine components, providing strength and durability crucial for the harsh conditions in wind farms.
- Electrical & Electronics: UPR is utilized in the production of insulating materials and components due to its electrical insulating properties.
The demand for UPR in these diverse industries underscores its adaptability and performance characteristics, driving its continued prominence in manufacturing and construction applications.
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Building and Construction is the largest end-use industry of unsaturated polyester resin (UPR).
Building & construction is the most crucial end-use segment for the UPRs market. In emerging economies, substantial investments are being made in the infrastructure sector, propelling the development of the construction industry. The rapid expansion of the sector in the growing countries is helping in the growth of UPR’s market. The increase in the domestic market, increasing income levels & spendings, and easily available resources at low price is making APAC region the highest contributor of building & construction segment.
Dicyclopentadiene (DCPD) is the fastest-growing resin segment of the Unsaturated polyester resin market.
DCPD resins have low VOC, which is the biggest reason for its increased demand. DCPD can be used as a primary base of a resin formulation or blend with orthophthalic or isophthalic resins to enhance properties. The major advantage of DCPD resins over orthophthalic resins is their lower shrinkage property, that offers superior smoothness with minimal or no visual print-through from reinforcing fibers. The increase awareness about the usage of DCPD will lead it to growth in near future.
APAC is the largest Unsaturated polyester resin (UPR) market globally.
APAC is projected to lead the unsaturated polyester resin (UPR) market and this dominance is expected to continue till 2026. The market in the region is witnessing high growth in Building & Construction, Transportation, Aerospace and Electrical & Electronics industry. The key markets in the region include China, India, South Korea, and Japan. India, China, and Indonesia are investing heavily in various end-use industries, which is likely to influence market growth.
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Unsaturated Polyester Resins Market Key Players
The key players profiled in the Unsaturated polyester resin market report are Polynt-Reichhold Group (US), INEOS Composites (UK), Royal DSM (The Netherlands), AOC (US), and BASF SE (Germany).
Polynt-Reichhold Group is one of the largest producers of specific polymer intermediaries, dibasic acid, UPR, compounds, composites, and special esters. The products are segmented into five categories: special-purpose plasticizers, resins & compounds, maleic anhydride & catalysts, phthalic anhydride & general-purpose plasticizers, and special esters. The company’s products are serving the end-use industry like electrical & electronic materials, construction, transportation, food & fragrances, consumer goods, and household applications with 41 plants around the world. In May 2017, Polynt and Reichhold completed its merger to create a global specialty chemicals group. This has made the group a top player of the UPR industry.