Global Unsaturated Polyester Resins Market: Rise in Demand from Varied End-Use Industries Ups Growth
The global
unsaturated
polyester resins market is anticipated to witness a steady growth
curve over the coming years. According to a report by Transparency
Market Research (TMR), the market is predicted to progress at a swift
pace. Due to high demand form varied end-utility applications and
industries, prominent vendors are expected to venture into mergers
and acquisition for improved product portfolios. Companies are
expected to research into the arena of superior recycling methods and
processing technology. Some of the key participants of the global
unsaturated polyester resin market are Nuplex Industries Ltd.,
Polynt-Reichhold Group, U-Pica Company Ltd., Royal DSM and BASF SE.
The global
unsaturated polyester resins market was valued at US$5,744.3 mn and
is prognosticated to rise at a CAGR of 5.0% from 2017 to 2022.
Expanding at this pace, the market is likely to reach a valuation of
US$7,339.9 mn by the end of the forecast period.
APEJ to Emerge as
Leading Regional Segment due to Industrial Demand
The prominent
product types of unsaturated polyester resins are, isophthalic
resins, dicyclopentadiene (DCPD) resins and orthophthalic resins. Of
these, the segment of isophthalic resins held a significant revenue
share in 2017 and is expected to witness higher growth during the
forecast period. As compared to other resins, this segment is
increasingly being preferred in the composite or fiber glass industry
on account of their markedly amazing flexibility, higher strength,
and better chemical resistance.
Geographically, the
APEJ unsaturated polyester resins market presently is responsible for
lion’s share of the global market revenue. The regional market is
anticipated to exhibit a CAGR of 5.3% CAGR during 2017–2022 and is
projected to be worth US$ 3,085.8 mn by the end of the forecast
period over the forecast duration. This region is driven by
progressing applications in various end-use industries such as
marine, automotive, and infrastructure development. In recent years,
various countries, such as China, have improved their overall
production capacity for these polymers. The surge in sale of
unsaturated polyester resins-based composites in several end-utility
industries in the region is a vital factor determinant acting in the
regional market growth.
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