According to the latest report by IMARC Group “Unsaturated Polyester Resins Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, The global unsaturated polyester resins market size reached US$ 12.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.
Unsaturated polyester resins (UPR) are thermoset molding resins employed to produce glass fiber-reinforced plastic (FRP). They condense unsaturated acids or anhydrides with diols. They are known for their high rigidity, improved electrical insulation, excellent surface finish, high tensile and impact strength, exceptional heat and corrosion resistance, and dimensional stability in response to changes in temperature. As a result, unsaturated polyester resins are widely adopted for producing composite materials, laminated panels, wood paints, sanitaryware, corrugated panels, and coatings across the globe.
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The market is primarily driven by the expanding construction industry. In addition, rapid urbanization and rising demand for UPRs for manufacturing pans, doors, electrical boxes, building panels, concrete rebars, and floor grafting are contributing to market growth. Moreover, the widespread product adoption in the marine industry in the production of wind turbine blades, hulls, decks of boats, and land transport components represents another major growth-inducing factor. Besides this, various governments are implementing favorable policies such as foreign direct investment and making in India, which is accelerating the product adoption rate in automotive products. Along with this, the increasing application of UPRs in the chemical industry to produce flooring materials, castings, gel coats, adhesives, composites, and pigment pastes is propelling the market growth. Furthermore, the extensive demand for nonreinforced cross-linked UPRs for automotive repair components and extensive research and development (R&D) efforts to improve the physical properties of UPRs are creating a positive market outlook.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- AOC LLC
- Ashland LLC
- BASF SE
- CCP Composites Ltd
- E. I. Du Pont
- Allnex Resins Australia Pty Ltd
- Polynt Composites USA Inc.
- Reichhold Inc.
- Koninklijke DSM N.V.
- Scott Bader Company Ltd.
- Upc Technology Corporation
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The report has segmented the market on the basis of Product Type, End-User and Region.
Breakup by Type:
- Orthophthalic Resin
- Isophthalic Resin
- Dicyclopentadiene (DCPD) Resin
Breakup by End-Use:
- Building and Construction
- Pipes, Ducts and Tanks
- Wind Energy
- Electrical and Electronics
Breakup by Form:
- Liquid Form
- Powder Form
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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