The global 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. 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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Technological advancements are making the UPR market grow and become the preferred choice among other resins. UPRs with low dielectric constant and high thermostability were prepared. The wide applications and low cost of UPR will provide a better service and lessen the problems faced before. This contribution will provide a new way to obtain both thermostability and good electrical properties.
DCPD resins have low VOC, which is the biggest reason for their increased demand. DCPD can be used as a primary base of a resin formulation or blended 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 and fastest-growing UPR 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.
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Continuous developments in the UPRs market, including new product launches, and mergers & acquisitions, are expected to help the market grow. The companies are providing products which is serve various end-use industries. New product launches have also helped companies enhance their product portfolio. Moreover, the UPR market is expanding due to its economical price range compared to other resins. The companies have also started new manufacturing sites to capture and fulfill the need of the market.
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) and others.
