Chicago, Descember 37, 2023: The unsaturated polyester Resin (UPR) market size is estimated to be USD 9.6 billion in 2021 and is projected to reach USD 12.9 billion by 2026, at a CAGR of 6.1% between 2021 and 2026, as per the recent study by MarketsandMarkets™. The demand and use of UPRs are rapidly increasing due to the growth in construction, and wind energy industries. The economical price of UPR is also helping the resin to hold its position in the industry.
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Browse in-depth TOC on "Unsaturated Polyester Resins Market”
275- Market Data Tables
39- Figures
246- Pages
List of Key Players in Unsaturated Polyester Resins Market:
- Polynt-Reichhold Group (US)
- INEOS Composites (UK)
- Royal DSM (The Netherlands)
- AOC (US)
- BASF SE (Germany)
- Others
Drivers, Restraints, Opportunities and Challenges in Unsaturated Polyester Resins Market:
- Drivers: High growth in Building & Construction, and Wind Energy industries
- Restraints: Greater acceptance of other similar resins
- Opportunity: Emerging economies and their future growth.
- Challenge: Disadvantages of styrene usage
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Key Findings of the Study:
- Building and Construction is the largest end-use industry of unsaturated polyester resin (UPR).
- Dicyclopentadiene (DCPD) is the fastest-growing resin segment of the Unsaturated polyester resin market.
- APAC is the largest Unsaturated polyester resin (UPR) market globally.
Technological advancements are making the UPR market to grow and become the preferred choice among other resins. UPRs with low dielectric constant and high thermostability was prepared. The wide applications and low cost of UPR will provide a better service and lessen the problem faced before. This contribution will provide a new way for obtaining both thermostability and good electrical properties.
Building and construction is one of the most important end-use sectors for unsaturated polyester resin (UPR). Because of its high mechanical qualities, durability, and cost-effectiveness, UPR is a flexible thermosetting resin that is widely employed in a variety of building applications. UPR is extensively used in the building and construction industry to produce composite materials such as fiberglass-reinforced plastics (FRP). These materials are widely used in roofs, panels, pipes, tanks, and other structural components. UPR has a good strength-to-weight ratio, is corrosion resistant, and has design flexibility, making it suited for a wide range of building applications.
Dicyclopentadiene (DCPD) is one of the fastest-growing resin segments in the unsaturated polyester resin (UPR) market. DCPD is a cyclic diene monomer that is extensively utilized as a raw material in the manufacturing of UPR. Compared to typical orthophthalic and isophthalic UPR, DCPD-based UPR has enhanced mechanical characteristics, heat resistance, and impact strength. These properties make DCPD-based UPR very attractive in a variety of industries, including automotive, maritime, electrical, and construction.
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APAC is the largest and fastest-growing UPRs market. The low labor costs in the region are expected to drive the market. APAC is projected to register the highest CAGR during the forecast period. The market is expected to witness significant growth in automotive, construction, aerospace, electrical & electronics, and industrial assembly sectors in countries such as China, India, and South Korea. China is the largest country-level market in this region There has been a shift of the manufacturing base to the APAC region because of low-cost production and the ability to better serve local emerging markets.
North America is the second-largest region in the market. The region focuses on regular advancement of R&D and continuously work on innovation which is helping the region to capture the second-largest share. US is the fastest-growing market in North America. President Joe Biden’s coronavirus relief package is expected to spearhead the US construction industry in the coming years, which is expected to help the UPRs market to grow. In July 2020, the United States-Mexico-Canada Agreement (USMCA) came into force. The Agreement will create reciprocal trade supporting high-paying jobs for Americans, more balanced, and will grow the North American economy.