Global Unsaturated Polyester Resins Market Overview
Unsaturated Polyester Resins (UPR) Market Size Was Valued at USD 12.17 Billion In 2023 And Is Projected to Reach USD 18.4 Billion By 2032, Growing at A CAGR of 4.7% From 2024-2032.
A polyester resin is a polymer produced by a polycondensation reaction between particular polyalcohols and polyacids. Unsaturated Polyester Resins (UPR) are a type of polyester resin that, once restored, can take the shape of a mold. Unsaturated Polyester Resin has a better level of long-lasting and strength. Orthophthalic resin, dicyclopentadiene (DCPD) resin, and isophthalic resin are among the various forms of unsaturated polyester resins. Unsaturated Polyester Resins are applied in a variety of industries owing to their increased benefits and better features. Unsaturated polyester resin (UPR) is a kind of thermoset molding resin that's utilized to create glass fiber reinforced plastics (FRP). It has a variety of physical qualities, as well as strong tensile, binding, and impact strength, as well as heat and corrosion resistance. Complex materials, wood paints, color pastes, coatings, laminated panels, and sanitaryware are all made with it. Construction, industrial, automotive, marine, and commercial goods are utilizing unsaturated polyester resins.
The significant growth in the adoption of electric automotive by consumers and businesses alike helps the growth of the unsaturated polyester resin market. In addition, construction and building projects are also utilizing unsaturated polyester resin-based components. These are applied to manufacture bathroom fittings, fiberglass coatings, anti-corrosion tanks, and pipes. Furthermore, rising health concerns about industrial activities are stimulating the demand for unsaturated polyester resins. The low styrene content in these prepolymers decreases the harmful effects of poisonous gas exposure on workers, therefore, declining carbon emissions and rising the safety standards for many industries. Amidst the COVID-19 pandemic, the global market for Unsaturated Polyester Resins projected at US$10.6 Billion in the year 2020, is estimated to reach a revised size of US$14.5 Billion by 2027, during the forecast period.
COVID-19 Impact on the Unsaturated Polyester Resins (UPR) Market
The suspension of non-essential trade to curb the spread of COVID-19 restrain growth for market players. China, being at the center stage of the global pandemic, is under the microscope of every economy. It is also the biggest consumer of unsaturated polyester resin. Therefore, order achievement and future deals are put on hold for the time being. Producers also face production obstacles such as poor workforce, raw material, and logistics support. Major players are investing in employee expertise in conceiving recovery strategies. Focusing on less impacted or fast recovering areas is a popular strategy. Business strategies are closely tied with the new advancement about COVID-19 spread and its vaccine. The interruptions of normal trade put massive pressure on the cash flow of companies as the unsaturated polyester resin market is mainly based on production and transportation activities. The COVID-19 pandemic is a major threat for producers of unsaturated polyester resin. Composite application in producing medical equipment and personnel protective gear presents sustainable opportunities. As the world experienced contain coronavirus, healthcare institutions are overwhelmed and need equipment and protective gear. Emerging a customer base in the healthcare industry is a favorable strategy.
Market Dynamics And Factors For The Unsaturated Polyester Resins (UPR) Market
Drivers:
Increasing demand for the product from the building and construction industry is a key factor triggering the market growth of unsaturated polyester resins. They are extensively utilized over applications where resistance and flexibility are required such as glass, concrete, roofs, and artificial marble. Furthermore, unsaturated polyester resins also provide other significant properties such as impact resistance, load-bearing, sealing, weight reduction, space-saving, low maintenance, and longevity to buildings.
Rising demand for composite materials over various manufacturing industries is anticipated to hasten the market growth of unsaturated polyester resins. Composite materials are utilized in the marine industry for the production of yachts and ships. In addition, composites are also used across aerospace and automotive industries. Additionally, increasing demand for composites owing to their flexibility and cheaper cost has triggered their demand across marine, aerospace, construction, and automotive industries.
Restraints:
The acceptance of vinyl ester, epoxy, acrylic, and polyurethane resins is becoming a hindering for the growth of the unsaturated polyester resins market. Epoxy resins are utilized to manufacture adhesives, coatings, casting materials, and composites among others. They provide high strength, low shrinkage, and good adhesion similar to unsaturated polyester resins. Vinyl ester is another variety of resin whose corrosion resistance, mechanical, and thermal properties are much better than that of unsaturated polyester resins which affect the market growth over the forecast period.
Opportunities:
Strong growth in the end-user industries such as marine, automotive, consumer goods, aerospace, and building &construction across emerging countries is estimated to bring the latest market opportunities. Moreover, developing countries are investing in infrastructural development and long-term construction projects which is the largest industry for unsaturated polyester resins. India, China, Brazil, and economies in the Middle Eastern region are probably to increase their expenses in the infrastructure segment. The estimated overall growth rate of APAC in the infrastructural segment is 11.2% of which 80% contribution will be from India, Australia, South Korea, Japan, and China.
Market Segmentation
Segmentation Analysis of Unsaturated Polyester Resins (UPR) Market:
Based on Type, the Orthophthalic resin segment is anticipated to record the highest unsaturated polyester resins market share during the forecast period. Orthophthalic resin is the most used unsaturated polyester resin owing to its known as basic resin and used as the general-purpose resin. Orthophthalic resins are the highly popular resins in the marine industry. They have different properties, such as high flexibility and good tensile strength. Orthophthalic resins are also utilized in different other applications such as adhesives, buttons, composites, pigment pastes, encapsulation, gel coats, filler pastes, polymer concrete, putties, castings, flooring materials, and tooling. The variety of applications is making it the preferred resin type.
Based on End User, the market is classified into Building & Construction, Marine, Land Transportation, Pipes & Tanks, Artificial Stone, Wind Energy, Electrical & Electronics, Other End-Uses. The inexpensive cost of unsaturated polyester resins compared to other epoxy and PVC materials have also helped the global Unsaturated Polyester Resins market's expansion. Due to its lightweight, FRP is increasingly being used in pipelines, tanks, pressure vessels, and cylinders. The widespread utilize of unsaturated polyester resins is improving the pipes and tanks industry growth.
Regional Analysis of Unsaturated Polyester Resins (UPR) Market:
The Asia Pacific region is expected to dominate the unsaturated polyester resins market over the forecast period. The market is turned by the growth of the major end-use industries such as construction, transport, electronics, and marine. The strong production base of the automotive industry in China, Japan, and India coupled with increased sales of passenger vehicles is expected to increase the growth of the market for unsaturated polyester resins shortly. In India, cheaper-cost labor, government initiatives, such as Make in India, and the proposed scheme on entrepreneurship development may create lucrative opportunities in the industrial and infrastructure segments. In addition, China is a rapidly emerging nation with many developing applications. The country also provides inexpensive raw materials, low cost of production, and the ability to serve the local developing markets. It is observing increased demand from the various growing end-use industry. Additionally, favorable policies such as foreign direct investments (FDI) and Make-in-India executed by the government of India are anticipated to produce flourishing growth opportunities for the automobile industry, which, in turn, is anticipated to increase the utilization of unsaturated polyester resin in automobile applications.
In North America, the market for the unsaturated polyester resin is primarily turned by the growth in construction, manufacturing sectors, and electronics. Unsaturated polyester resin and UPR-based composites are highly used in the building and construction sector and other applications such as tanks and pipes. Recovery of the construction industry in the region, due to rising demand for non-residential construction projects such as hospitals, schools, and colleges, is anticipated to positively impact the unsaturated polyester resin market in North America over the forecast period.
Players Covered in Unsaturated Polyester Resins market are :
- BASF SE (Germany)
- Scott Bader Company Ltd. (UK)
- Royal DSM NV (The Netherlands)
- Polynt-Reichhold Group (US)
- UPC Technology Corp. (Taiwan)
- INEOS Group (UK)
- Reichhold LLC (US)
- AOC LLC (US)
- Ashland Inc. (the US)
- Nuplex Industries Ltd. (Australia)
- U-PiCA Company Ltd (Japan) and others major key players.
Key Industry Developments In The Unsaturated Polyester Resins (UPR) Market
- In July 2021, a German Chemical Industries Association named Schill+Seilacher GmbH designed a bio-based substitute for petrochemical-based unsaturated polyester resins.
- In August 2021, a European resins producer named Helios Resins has obtained ISCC (International Sustainability and Carbon Certification) for producing a wide variety of unsaturated polyester resins.
- In February 2020, INEOS launched the latest low-profile resin for the recreational vehicle markets and marine in North America. Aropol LP 67400 is developed to provide high strength and vigorous processing capabilities that boat builders and RV manufacturers desire.
Global Unsaturated Polyester Resins (UPR) Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 12.17 Bn. |
Forecast Period 2024-32 CAGR: |
4.7% |
Market Size in 2032: |
USD 18.4 Bn. |
Segments Covered: |
By Type |
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By End Users |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
ā1.1 Research Objectives
ā1.2 Research Methodology
ā1.3 Research Process
ā1.4 Scope and Coverage
āā1.4.1 Market Definition
āā1.4.2 Key Questions Answered
ā1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
ā3.1 By Type
ā3.2 By End Users
Chapter 4: Market Landscape
ā4.1 Porter's Five Forces Analysis
āā4.1.1 Bargaining Power of Supplier
āā4.1.2 Threat of New Entrants
āā4.1.3 Threat of Substitutes
āā4.1.4 Competitive Rivalry
āā4.1.5 Bargaining Power Among Buyers
ā4.2 Industry Value Chain Analysis
ā4.3 Market Dynamics
āā4.3.1 Drivers
āā4.3.2 Restraints
āā4.3.3 Opportunities
āā4.5.4 Challenges
ā4.4 Pestle Analysis
ā4.5 Technological Roadmap
ā4.6 Regulatory Landscape
ā4.7 SWOT Analysis
ā4.8 Price Trend Analysis
ā4.9 Patent Analysis
ā4.10 Analysis of the Impact of Covid-19
āā4.10.1 Impact on the Overall Market
āā4.10.2 Impact on the Supply Chain
āā4.10.3 Impact on the Key Manufacturers
āā4.10.4 Impact on the Pricing
Chapter 5: Unsaturated Polyester Resins (UPR) Market by Type
ā5.1 Unsaturated Polyester Resins (UPR) Market Overview Snapshot and Growth Engine
ā5.2 Unsaturated Polyester Resins (UPR) Market Overview
ā5.3 Orthophthalic Resins
āā5.3.1 Introduction and Market Overview
āā5.3.2 Historic and Forecasted Market Size (2017-2032F)
āā5.3.3 Key Market Trends, Growth Factors and Opportunities
āā5.3.4 Orthophthalic Resins: Grographic Segmentation
ā5.4 Isophthalic Resins
āā5.4.1 Introduction and Market Overview
āā5.4.2 Historic and Forecasted Market Size (2017-2032F)
āā5.4.3 Key Market Trends, Growth Factors and Opportunities
āā5.4.4 Isophthalic Resins: Grographic Segmentation
ā5.5 Dicyclopentadiene (DCPD)
āā5.5.1 Introduction and Market Overview
āā5.5.2 Historic and Forecasted Market Size (2017-2032F)
āā5.5.3 Key Market Trends, Growth Factors and Opportunities
āā5.5.4 Dicyclopentadiene (DCPD): Grographic Segmentation
ā5.6 Others
āā5.6.1 Introduction and Market Overview
āā5.6.2 Historic and Forecasted Market Size (2017-2032F)
āā5.6.3 Key Market Trends, Growth Factors and Opportunities
āā5.6.4 Others: Grographic Segmentation
Chapter 6: Unsaturated Polyester Resins (UPR) Market by End Users
ā6.1 Unsaturated Polyester Resins (UPR) Market Overview Snapshot and Growth Engine
ā6.2 Unsaturated Polyester Resins (UPR) Market Overview
ā6.3 Building & Construction
āā6.3.1 Introduction and Market Overview
āā6.3.2 Historic and Forecasted Market Size (2017-2032F)
āā6.3.3 Key Market Trends, Growth Factors and Opportunities
āā6.3.4 Building & Construction: Grographic Segmentation
ā6.4 Marine
āā6.4.1 Introduction and Market Overview
āā6.4.2 Historic and Forecasted Market Size (2017-2032F)
āā6.4.3 Key Market Trends, Growth Factors and Opportunities
āā6.4.4 Marine: Grographic Segmentation
ā6.5 Land Transportation
āā6.5.1 Introduction and Market Overview
āā6.5.2 Historic and Forecasted Market Size (2017-2032F)
āā6.5.3 Key Market Trends, Growth Factors and Opportunities
āā6.5.4 Land Transportation: Grographic Segmentation
ā6.6 Pipes & Tanks
āā6.6.1 Introduction and Market Overview
āā6.6.2 Historic and Forecasted Market Size (2017-2032F)
āā6.6.3 Key Market Trends, Growth Factors and Opportunities
āā6.6.4 Pipes & Tanks: Grographic Segmentation
ā6.7 Artificial Stone
āā6.7.1 Introduction and Market Overview
āā6.7.2 Historic and Forecasted Market Size (2017-2032F)
āā6.7.3 Key Market Trends, Growth Factors and Opportunities
āā6.7.4 Artificial Stone: Grographic Segmentation
ā6.8 Others
āā6.8.1 Introduction and Market Overview
āā6.8.2 Historic and Forecasted Market Size (2017-2032F)
āā6.8.3 Key Market Trends, Growth Factors and Opportunities
āā6.8.4 Others: Grographic Segmentation
Chapter 7: Company Profiles and Competitive Analysis
ā7.1 Competitive Landscape
āā7.1.1 Competitive Positioning
āā7.1.2 Unsaturated Polyester Resins (UPR) Sales and Market Share By Players
āā7.1.3 Industry BCG Matrix
āā7.1.4 Ansoff Matrix
āā7.1.5 Unsaturated Polyester Resins (UPR) Industry Concentration Ratio (CR5 and HHI)
āā7.1.6 Top 5 Unsaturated Polyester Resins (UPR) Players Market Share
āā7.1.7 Mergers and Acquisitions
āā7.1.8 Business Strategies By Top Players
ā7.2 BASF SE
āā7.2.1 Company Overview
āā7.2.2 Key Executives
āā7.2.3 Company Snapshot
āā7.2.4 Operating Business Segments
āā7.2.5 Product Portfolio
āā7.2.6 Business Performance
āā7.2.7 Key Strategic Moves and Recent Developments
āā7.2.8 SWOT Analysis
ā7.3 SCOTT BADER COMPANY LTD.
ā7.4 ROYAL DSM NV
ā7.5 POLYNT-REICHHOLD GROUP
ā7.6 UPC TECHNOLOGY CORP.
ā7.7 INEOS GROUP
ā7.8 REICHHOLD LLC
ā7.9 AOC LLC
ā7.10 ASHLAND INC.
ā7.11 NUPLEX INDUSTRIES LTD.
ā7.12 U-PICA COMPANY LTD
ā7.13 OTHER MAJOR PLAYERS
Chapter 8: Global Unsaturated Polyester Resins (UPR) Market Analysis, Insights and Forecast, 2017-2032
ā8.1 Market Overview
ā8.2 Historic and Forecasted Market Size By Type
āā8.2.1 Orthophthalic Resins
āā8.2.2 Isophthalic Resins
āā8.2.3 Dicyclopentadiene (DCPD)
āā8.2.4 Others
ā8.3 Historic and Forecasted Market Size By End Users
āā8.3.1 Building & Construction
āā8.3.2 Marine
āā8.3.3 Land Transportation
āā8.3.4 Pipes & Tanks
āā8.3.5 Artificial Stone
āā8.3.6 Others
Chapter 9: North America Unsaturated Polyester Resins (UPR) Market Analysis, Insights and Forecast, 2017-2032
ā9.1 Key Market Trends, Growth Factors and Opportunities
ā9.2 Impact of Covid-19
ā9.3 Key Players
ā9.4 Key Market Trends, Growth Factors and Opportunities
ā9.4 Historic and Forecasted Market Size By Type
āā9.4.1 Orthophthalic Resins
āā9.4.2 Isophthalic Resins
āā9.4.3 Dicyclopentadiene (DCPD)
āā9.4.4 Others
ā9.5 Historic and Forecasted Market Size By End Users
āā9.5.1 Building & Construction
āā9.5.2 Marine
āā9.5.3 Land Transportation
āā9.5.4 Pipes & Tanks
āā9.5.5 Artificial Stone
āā9.5.6 Others
ā9.6 Historic and Forecast Market Size by Country
āā9.6.1 U.S.
āā9.6.2 Canada
āā9.6.3 Mexico
Chapter 10: Europe Unsaturated Polyester Resins (UPR) Market Analysis, Insights and Forecast, 2017-2032
ā10.1 Key Market Trends, Growth Factors and Opportunities
ā10.2 Impact of Covid-19
ā10.3 Key Players
ā10.4 Key Market Trends, Growth Factors and Opportunities
ā10.4 Historic and Forecasted Market Size By Type
āā10.4.1 Orthophthalic Resins
āā10.4.2 Isophthalic Resins
āā10.4.3 Dicyclopentadiene (DCPD)
āā10.4.4 Others
ā10.5 Historic and Forecasted Market Size By End Users
āā10.5.1 Building & Construction
āā10.5.2 Marine
āā10.5.3 Land Transportation
āā10.5.4 Pipes & Tanks
āā10.5.5 Artificial Stone
āā10.5.6 Others
ā10.6 Historic and Forecast Market Size by Country
āā10.6.1 Germany
āā10.6.2 U.K.
āā10.6.3 France
āā10.6.4 Italy
āā10.6.5 Russia
āā10.6.6 Spain
āā10.6.7 Rest of Europe
Chapter 11: Asia-Pacific Unsaturated Polyester Resins (UPR) Market Analysis, Insights and Forecast, 2017-2032
ā11.1 Key Market Trends, Growth Factors and Opportunities
ā11.2 Impact of Covid-19
ā11.3 Key Players
ā11.4 Key Market Trends, Growth Factors and Opportunities
ā11.4 Historic and Forecasted Market Size By Type
āā11.4.1 Orthophthalic Resins
āā11.4.2 Isophthalic Resins
āā11.4.3 Dicyclopentadiene (DCPD)
āā11.4.4 Others
ā11.5 Historic and Forecasted Market Size By End Users
āā11.5.1 Building & Construction
āā11.5.2 Marine
āā11.5.3 Land Transportation
āā11.5.4 Pipes & Tanks
āā11.5.5 Artificial Stone
āā11.5.6 Others
ā11.6 Historic and Forecast Market Size by Country
āā11.6.1 China
āā11.6.2 India
āā11.6.3 Japan
āā11.6.4 Singapore
āā11.6.5 Australia
āā11.6.6 New Zealand
āā11.6.7 Rest of APAC
Chapter 12: Middle East & Africa Unsaturated Polyester Resins (UPR) Market Analysis, Insights and Forecast, 2017-2032
ā12.1 Key Market Trends, Growth Factors and Opportunities
ā12.2 Impact of Covid-19
ā12.3 Key Players
ā12.4 Key Market Trends, Growth Factors and Opportunities
ā12.4 Historic and Forecasted Market Size By Type
āā12.4.1 Orthophthalic Resins
āā12.4.2 Isophthalic Resins
āā12.4.3 Dicyclopentadiene (DCPD)
āā12.4.4 Others
ā12.5 Historic and Forecasted Market Size By End Users
āā12.5.1 Building & Construction
āā12.5.2 Marine
āā12.5.3 Land Transportation
āā12.5.4 Pipes & Tanks
āā12.5.5 Artificial Stone
āā12.5.6 Others
ā12.6 Historic and Forecast Market Size by Country
āā12.6.1 Turkey
āā12.6.2 Saudi Arabia
āā12.6.3 Iran
āā12.6.4 UAE
āā12.6.5 Africa
āā12.6.6 Rest of MEA
Chapter 13: South America Unsaturated Polyester Resins (UPR) Market Analysis, Insights and Forecast, 2017-2032
ā13.1 Key Market Trends, Growth Factors and Opportunities
ā13.2 Impact of Covid-19
ā13.3 Key Players
ā13.4 Key Market Trends, Growth Factors and Opportunities
ā13.4 Historic and Forecasted Market Size By Type
āā13.4.1 Orthophthalic Resins
āā13.4.2 Isophthalic Resins
āā13.4.3 Dicyclopentadiene (DCPD)
āā13.4.4 Others
ā13.5 Historic and Forecasted Market Size By End Users
āā13.5.1 Building & Construction
āā13.5.2 Marine
āā13.5.3 Land Transportation
āā13.5.4 Pipes & Tanks
āā13.5.5 Artificial Stone
āā13.5.6 Others
ā13.6 Historic and Forecast Market Size by Country
āā13.6.1 Brazil
āā13.6.2 Argentina
āā13.6.3 Rest of SA
Chapter 14 Investment Analysis
Chapter 15 Analyst Viewpoint and Conclusion
Global Unsaturated Polyester Resins (UPR) Market |
|||
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 12.17 Bn. |
Forecast Period 2024-32 CAGR: |
4.7% |
Market Size in 2032: |
USD 18.4 Bn. |
Segments Covered: |
By Type |
|
|
By End Users |
|
||
By Region |
|
||
Key Market Drivers: |
|
||
Key Market Restraints: |
|
||
Key Opportunities: |
|
||
Companies Covered in the report: |
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Frequently Asked Questions :
The forecast period in the Unsaturated Polyester Resins (UPR) Market research report is 2024-2032.
BASF SE (Germany), Scott Bader Company Ltd. (UK), Royal DSM NV (The Netherlands), Polynt-Reichhold Group (US), UPC Technology Corp. (Taiwan), INEOS Group (UK), Reichhold LLC (US), AOC LLC (US), Ashland Inc. (the US), Nuplex Industries Ltd. (Australia), U-PiCA Company Ltd (Japan), and other major players.
The Unsaturated Polyester Resins (UPR) Market is segmented into type, end users, and region. By Type, the market is categorized into Orthophthalic Resins, Isophthalic Resins, Dicyclopentadiene (DCPD), and Others. By End Users, the market is categorized Building & Construction, Marine, Land Transportation, Pipes & Tanks, Artificial Stone, and Others. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
Unsaturated Polyester Resins (UPR) are a type of polyester resin that, once restored, can take the shape of a mold. Unsaturated Polyester Resin has a better level of long-lasting and strength.
Unsaturated Polyester Resins (UPR) Market Size Was Valued at USD 12.17 Billion In 2023 And Is Projected to Reach USD 18.4 Billion By 2032, Growing at A CAGR of 4.7% From 2024-2032.