Outlook on the Unsaturated Polyester Resins Global Market to 2030 - Benefits and Features of UPR are Driving Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Unsaturated Polyester Resins Market by Type and End-Use Industry (Building & Construction, Tanks & Pipes, Electrical, Marine, Transport, Artificial Stones, and" report has been added to ResearchAndMarkets.com's offering.

The global unsaturated polyester resins market was valued at $11.0 billion in 2020, and is projected to reach $20.0 billion by 2030, growing at a CAGR of 6.3% from 2021 to 2030.

Unsaturated polyester resins are the result of condensation of unsaturated acids or anhydrides, as well as diols with or without diacids. The unsaturation present in this type of polyester provides a site for subsequent cross-linking. Unsaturated polyester resins have proven to be useful in a wide range of end-use industries including automotive, marine, transport, building, construction, aerospace, and electronic devices, making it a vital thermosetting system.

Depending on diacids, diols, cross-linking agents, initiators, and other additives used, resins are combined with various fillers, reinforcements, and cured using free radical initiators to provide thermoset objects with a wide variety of chemical and mechanical properties. This versatility in the properties of final thermoset product associated with comparatively low cost has renewed the interest in these resins as an important matrix material for wide range of end-use industry.

The demand for unsaturated polyester resin is expected to increase in the future, owing to growth in industries such as building & construction, transportation, tanks & pipes, and wind energy especially in Asia-Pacific. Bio-based unsaturated polyester resins, which offer recyclability, good strength, and heat and corrosion resistance with lower thickness, are expected to drive the market growth. Technological breakthroughs, innovations, and studies carried out for expanding the unsaturated polyester resin (UPR) end-use industry scope are projected to foster demand of UPR.

Moreover, use of unsaturated polyester resin in the synthetic stone industry is driven by increase in demand for decorative products around the world. Unsaturated polyester resins (UPRs) are used as bonding agents in creation of artificial stones. Terrazzo, artificial marble, artificial granite, and mini-crystal glass plates are all made of artificial stones. However, availability of alternative polymer resins for composites synthesis, such as epoxy resin and nylon is expected to limit demand for UPR in electrical end-use industry.

The global unsaturated polyester resins market is segmented on the basis of type, end-use industry, and region. On the basis of type, the global unsaturated polyester resins market size is segmented into orthophthalic resin, isophthalic resin, dicyclopentadiene, and others. On the basis of end-use industry, the global unsaturated polyester resins market is analyzed across building & construction, tanks & pipes, electrical, marine, transport, artificial stones and others. On the basis of region, the global unsaturated polyester resins market is studied across North America, Europe, Asia-Pacific, and LAMEA.

COVID-19 Analysis:

• The construction work has been temporarily halted keeping in mind the concerns regarding workers in the construction industry.
• Due to COVID-19 pandemic, transport limitations were implemented, resulting in reduced industrial production and disrupted supply chains, which affected global economic growth by a substantial proportion, severely impacting market growth.
• The companies are not earning any profit as a result of the work stoppage and not only the companies are losing money but they are also losing suppliers who are providing the required materials to various companies to be used in construction sector, all those suppliers are also facing huge losses.
• Firms are not earning any profit as a result of the work stoppage, and not only are the companies losing money, but so are all of the suppliers that provide the needed supplies to various companies for use in the construction sector.
• Furthermore, due to social distancing norms during COVID-19, the manufacturing companies are working with limited workforce; thus, negatively impacting the production and construction processes.
• COVID-19 has made a major economic influence on a number of financial and industrial sectors, including travel and tourism, manufacturing, and aviation.

Key Benefits

• The report provides in-depth analysis of the global unsaturated polyester resin market along with the current trends and future estimations.
• This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period.
• Porter's five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the global unsaturated polyester resin industry for strategy building.
• A comprehensive market analysis covers factors that drive and restrain the global unsaturated polyester resin market growth.
• The qualitative data about market dynamics, trends, and developments is provided in the report.

Market Dynamics

Drivers

• Growth in the building & construction industry
• Benefits and features of UPR

Restraint

• Presence of alternatives to UPR

Opportunity

• Emerging economies and their future growth

Key Market Players

• AOC
• BASF SE
• Dow
• INEOS Group
• LERG SA
• Von Roll
• Royal DSM
• Scott Bader Company Ltd.
• Tianhe Resin Co., Ltd.
• UPC Group

For more information about this report visit https://www.researchandmarkets.com/r/1lqvwb