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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Definition of Market/Industry:

Polyester resin is produced by the polycondensation reaction between polyalcohols and polyacids. Unsaturated polyester resins are mostly used in combination with reinforcing materials such as glass fiber. The unsaturated polyester resin is widely used across a wide range of industries such as Marine, construction, electrical, and transport.

The global unsaturated polyester resin market is estimated to be valued at US$ 11,275.6 million in 2021 and is expected to exhibit a CAGR of 7.5 % over the forecast period (2021-2028).

Recent Developments:

In August 2021, an European resins manufacturer named Helios Resins has received ISCC (International Sustainability and Carbon Certification) for manufacturing a wide variety of unsaturated polyester resins.

In December 2020, owing to extraordinary escalation of UPR raw material prices, Polynt Composites increased prices of unsaturated polyester resins to US$346.41/ton.

In July 2021, a German Chemical Industries Association named Schill+Seilacher GmbH developed an bio-based alternative to petrochemical based unsaturated polyester resins.

Asia Pacific held dominant position in the global unsaturated polyester resin market in 2020, accounting for 53.6% share in terms of volume, followed by North America and Europe, respectively.

Figure 1. Global Unsaturated Polyester Resin Market Volume (KT), by Region, 2020

Unsaturated Polyester Resins  | Coherent Market Insights

Drivers:

Growing demand for the product from the building and construction industry is a prime factor fueling the market growth of the unsaturated polyester resins. They are widely used across applications where resistance and flexibility are required such as concrete, roofs, glass, and artificial marble. Moreover, unsaturated polyester resins also offer other significant properties such as impact resistance, weight reduction, load-bearing, sealing, space-saving, low maintenance, and longevity to buildings.

Growing demand for composite materials across various manufacturing industries is expected to foster the market growth of unsaturated polyester resins. Composite materials are used in the marine industry for the manufacturing of yachts and ships. Moreover, composites are also used across aerospace and automotive industries. Growing demand for composites due to their flexibility and lower cost has boosted their demand across aerospace, construction, marine, and automotive industries. 

Market Opportunities

Robust growth in the end-user industries such as automotive, marine, aerospace, consumer goods, and building &construction across developing countries is projected to bring new market opportunities. Rapid industrialization and urbanization across developing regions are playing a significant role in the development of the overall market. Moreover, an increase in the population is again creating demand for products such as automobiles, consumer electronics, etc. which is further propelling the market growth.

The expansion of the electrical industry across the Asia Pacific region is expected to offer potential market opportunities in the near future. According to the India Brand Equity Foundation, Indian appliance, and consumer electronics (ACE) market reached US$ 10.93 billion in 2019. Appliances and consumer electronics industry is expected to double to reach US$ 21.18 billion by 2025. Thus, growth in the electrical industry is projected to augment the market growth of the unsaturated polyester resins. 

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Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 12,121.3 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 7.5% 2028 Value Projection: US$ 20,109.8 Mn
Geographies covered:
  • Regions: North America, Europe, Asia Pacific, and Rest of World 
Segments covered:
  • By End User (Tanks and Pipes, Building and Construction, Electrical, Marine, Transport, Artificial Stones, Others)
  • By Product Type ( Dicyclopentadiene (DCPD),  Orthophthalic Polyesters, Isophthalic Polyesters, Others)
Companies covered:

AOC Resins, Ashland Inc., BASF SE, CCP Composites, Changzhou New Solar Co. Ltd., DSM, DuPont, Lanxess AG, Eternal Chemical Co. Ltd., Reichhold Inc., SABIC Innovative Plastics Holding BV, and Satyen Polymers Pvt. Ltd.

Growth Drivers:
  • Increasing demand from building & construction industry
Restraints & Challenges:
  • Fluctuating price of raw material

Market Trends

Ongoing research and development programs in bio-based unsaturated polyester resin are projected to contribute to market growth. Manufacturers are focusing on enhancing the recyclability and strength of the product with improved corrosion and thermal resistance properties. Increasing technological breakthroughs and innovations by key vendors in the field of unsaturated polyester resin are again projected to foster the market growth over the forecast timeframe.

Orthophthalic product is gaining traction in the market. This product is widely used across various industries such as automotive, energy, electronics, marine, and building & construction. Orthophthalic has excellent chemical resistance properties and also offers toughness to the end-product which is expected to have a positive impact on the market of unsaturated polyester resin.

Figure 2. Global Unsaturated Polyester Resin Market Share, By Product Type, 2020

Unsaturated Polyester Resins  | Coherent Market Insights

Key Takeaways of the Graph:

  • The orthothalic product type held dominant position in the market and accounted for 29.5% share in the global unsaturated polyester resin market in 2020. The segment is expected to reach US$ 5,835.1 million in 2028.
  • Increasing demand for composite demand due to their lower costs and light weightness is expected to drive the demand for this segment in the upcoming years.

Market Restraints

The fluctuating price of raw materials used in the production of unsaturated polyester resins is expected to restrict the market growth. Styrene, adipic acid, phthalic anhydride, ethylene glycol, and maleic anhydride are some of the raw materials used in the manufacturing of unsaturated polyester resins. Recently there was an upward trend in raw material prices.

Another factor like low recycling property of unsaturated polyester resins is projected to limit the use of these polymers. This is expected to hinder the market growth over the forecast period.

Competitive Section:

Company Names 

  1. AOC Resins
  2. Ashland Inc.
  3. BASF SE
  4. CCP Composites
  5. Changzhou New Solar Co. Ltd.
  6. DSM
  7. DuPont
  8. Lanxess AG
  9. Eternal Chemical Co. Ltd.
  10. Reichhold Inc.
  11. SABIC Innovative Plastics Holding BV
  12. Satyen Polymers Pvt. Ltd.

Unsaturated polyester resin means that the polymer compound has no one particular monomer. Unsaturated polyester resin is an extremely versatile material used for a wide variety of products in all industries across the world. One of the most popular uses for unsaturated polyester resin is in the foam and mattress pad market as it has the property to stand up to extreme temperatures (hot and cold) without being damaged.

Market Dynamics:

Rapid growth in the building &construction industry is propelling growth of the unsaturated polyester resin market. According to the India Brand Equity Foundation, India is expected to become the third-largest construction market globally by 2022. India plans to spend US$ 1.4 trillion on infrastructure projects through the National Infrastructure Pipeline (NIP), from 2019 to 2023, to ensure sustainable development in the country.

On the other hand, fluctuating price raw material is expected to restrict growth of the market.

Key features of the study:

  • This report provides in-depth analysis of the unsaturated polyester resin market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global unsaturated polyester resin market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include AOC Resins, Ashland Inc., BASF SE, CCP Composites, Changzhou New Solar Co. Ltd., DSM, DuPont, Lanxess AG, Eternal Chemical Co. Ltd., Reichhold Inc., SABIC Innovative Plastics Holding BV, and Satyen Polymers Pvt. Ltd.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global general anesthesia drugs market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global unsaturated polyester resin market

Detailed Segmentation:

  • Global Unsaturated Polyester Resins Market, By Product Type:
    • Dicyclopentadiene (DCPD)
    • Orthophthalic Polyesters
    • Isophthalic Polyesters
    • Others
  • Global Biocides Market, By End User:
    • Tanks and Pipes
    • Building and Construction
    • Electrical
    • Marine
    • Transport
    • Artificial Stones
    • Others
  • Global Biocides Market, By Region:
    • North America
      • By Product Type:
        • Dicyclopentadiene (DCPD)
        • Orthophthalic Polyesters
        • Isophthalic Polyesters
        • Others
      • By End User:
        • Tanks and Pipes
        • Building and Construction
        • Electrical
        • Marine
        • Transport
        • Artificial Stones
        • Others
    • Europe
      • By Product Type:
        • Dicyclopentadiene (DCPD)
        • Orthophthalic Polyesters
        • Isophthalic Polyesters
        • Others
      • By End User:
        • Tanks and Pipes
        • Building and Construction
        • Electrical
        • Marine
        • Transport
        • Artificial Stones
        • Others
    • Asia-Pacific
      • By Product Type:
        • Dicyclopentadiene (DCPD)
        • Orthophthalic Polyesters
        • Isophthalic Polyesters
        • Others
      • By End User:
        • Tanks and Pipes
        • Building and Construction
        • Electrical
        • Marine
        • Transport
        • Artificial Stones
        • Others
    • Rest of World
      • By Product Type:
        • Dicyclopentadiene (DCPD)
        • Orthophthalic Polyesters
        • Isophthalic Polyesters
        • Others
      • By End User:
        • Tanks and Pipes
        • Building and Construction
        • Electrical
        • Marine
        • Transport
        • Artificial Stones
        • Others
  • Company Profiles
    • AOC Resins*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Ashland Inc.
    • BASF SE
    • CCP Composites
    • Changzhou New Solar Co. Ltd.
    • DSM
    • DuPont
    • Lanxess AG
    • Eternal Chemical Co. Ltd.
    • Reichhold Inc.
    • SABIC Innovative Plastics Holding BV
    • Satyen Polymers Pvt. Ltd.

“*” marked represents similar segmentation in other categories in the respective.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By End User
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • PEST Analysis
      • PORTER’s Analysis
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
  4. Global Unsaturated Polyester Resins Market- Impact of Coronavirus (Covid-19) Pandemic
    • Overview
    • Factors Affecting Global Unsaturated Polyester Resins Market – COVID-19
    • Impact Analysis
  5. Global Unsaturated Polyester Resins Market, By Product Type, 2017 - 2028(US$ Million and KT)
    • Introduction
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Dicyclopentadiene (DCPD)
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • Orthophthalic Polyesters
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • Isophthalic Polyesters
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • Others
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 – 2028
  6. Global Unsaturated Polyester Resins Market, By End User, 2017 - 2028(US$ Million and KT)
    • Introduction
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Tanks and Pipes
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • Building and Construction
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • Electrical
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • Marine
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • Transport
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • Artificial Stones
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 – 2028
    • Others
      • Market Share Analysis, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, 2021 – 2028
  7. Global Unsaturated Polyester Resins Market, By Region, 2017- 2028(US$ Million and KT)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2028(%)
      • Y-o-Y Growth Analysis, By Region, 2021 - 2028
    • North America
      • Market Size and Forecast, By Product Type, 2017- 2028(US$ Million and KT)
      • Market Size and Forecast, By End User, 2017- 2028(US$ Million and KT)
    • Europe
      • Market Size and Forecast, By Product Type, 2017- 2028(US$ Million and KT)
      • Market Size and Forecast, By End User, 2017- 2028(US$ Million and KT)
    • Asia Pacific
      • Market Size and Forecast, By Product Type, 2017- 2028(US$ Million and KT)
      • Market Size and Forecast, By End User, 2017- 2028(US$ Million and KT)
    • Rest of World
      • Market Size and Forecast, By Product Type, 2017- 2028(US$ Million and KT)
      • Market Size and Forecast, By End User, 2017- 2028(US$ Million and KT)
  8. Competitive Landscape
    • Market Share Analysis
    • Company Profiles
      • AOC Resins
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Ashland Inc.
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • BASF SE
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • CCP Composites
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Changzhou New Solar Co. Ltd.
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • DSM
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • DuPont
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Lanxess AG
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Eternal Chemical Co. Ltd.
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Reichhold Inc.
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • SABIC Innovative Plastics Holding BV
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
      • Satyen Polymers Pvt. Ltd.
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments
        • Future Plans
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 50 market data tables* and 45 figures* on "Global Unsaturated Polyester Resins Market” – global forecast to 2028

FAQgrowicon

Frequently Asked Questions

The global unsaturated polyester resin market size is estimated to be valued at US$ 12,121.3 Million in 2021 and is expected to exhibit a CAGR of 7.5% between 2021 and 2028.
Increasing demand from building and construction industry is fuelling growth of the market.
The orthothalic product type segment is the leading component segment in the market.
Fluctuating price of raw material is expected to hinder growth of the market.
Major players operating in the market include, AOC Resins, Ashland Inc., BASF SE, CCP Composites, Changzhou New Solar Co. Ltd., DSM, DuPont, Lanxess AG, Eternal Chemical Co. Ltd., Reichhold Inc., SABIC Innovative Plastics Holding BV, and Satyen Polymers Pvt. Ltd.
Asia Pacific region is expected to hold dominant position in the market over the forecast period. The growth of the market in the region is driven by increasing construction and infrastructure development activities in countries like China, Japan and India.
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