According to the latest report published by Credence Research, Inc. “Global Unsaturated Polyester Resin Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global Unsaturated Polyester Resin market was valued at US$ 10,052.8 Mn in 2017, expected to grow at the CAGR of 5.50% from 2018 to 2026.
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Unsaturated polyesters are copolymers derived by polymerizing diol with saturated and unsaturated dicarboxylic acids or their anhydrides. Unsaturated Polyester Resin market size was valued at US$ 10,052.8 Mn in 2017, growing with a CAGR of 5.50% during the forecast period from 2018 to 2026. Unsaturated Polyester Resin market is driven by various factors such as increasing demand from end-use industries, an essential polymer for production of composite materials, economical option as compared to other resin, etc. Owing to its thermal, flexure composites mechanical, and morphological attributes unsaturated polyester resins are extensively used in various industries. Moreover, due to the strong mechanical properties they are used in the manufacturing of composites. Orthophthalic type is the leading segment followed by Isophthalic type in 2017. Orthophthalic is the most preferred type over other resins owing to low cost, toughness, and chemical resistance.
Building & Construction held the largest share of Unsaturated Polyester Resin market by end-use industry in 2017. In building & construction industry, unsaturated polyester resins find promising application in roofing, building panels, concrete forming pans, reinforcement, and household structures composites. Renovation activities for aging infrastructure across the world especially in developed economies expected to boost the demand for unsaturated polyester resins from the building and construction industry. Unsaturated Polyester Resins market has a positive outlook in transportation end-use industry on account of enhanced lifespan and improved performance of end-products even in an adverse and challenging environment. Furthermore, increasing demand for automotive parts with a higher stiffness and wear resistance is creating an increasing pressure on manufacturers to produce specialty resins such as UPR, which can be reinforced with a filler without affecting dynamic load.
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Based on the geography, Asia-Pacific dominated the global Unsaturated Polyester Resin market in 2017 in terms of value and volume. China and India are among the major market for Asia-Pacific owing to booming construction, automotive, and electronics end-use industries. China is also the largest producer of unsaturated polyester resins in the world. Many manufacturers are moving their base from developed to developing countries in through merger & acquisition, joint ventures, and partnership due to cheap availability of raw materials, labor, and liberal government policies also fueling the supply for unsaturated polyester resins in emerging economies. For instance, Reichhold Industries Inc. proposed to set up an additional manufacturing unit of unsaturated composite resin at Pune, India in February 2016.
Since, Unsaturated Polyester Resins market is moving towards consolidation, merger and acquisition is the key strategy adopted by many giants to get an edge over other players in this highly competitive market. Key manufacturers of unsaturated polyester resins include Reichhold Inc. (U.S.), Ashland Inc. (U.S.), BASF SE (Germany), Scott Bader (U.K.) and Royal DSM (Netherlands) among others.
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