Unsaturated Polyester Resins Market Size And Share Report: Top Growth Drivers, Key Trends And Major Segments

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

LONDON, May 22, 2023 /PRNewswire/ -- As per The Business Research Company's Unsaturated Polyester Resins Global Market Report 2023, the growing global automotive industry will support the growth of the unsaturated polyester resins market. Unsaturated polyester resins are widely employed in the automotive sector due to their design versatility, light weight, lower system costs, and mechanical strength, in automotive components such as body panels, bumpers, and interior parts. According to US-based management consulting company, McKinsey, the automotive revenue pool from traditional car sales and aftermarket products/services is expected to reach about $5.2 trillion, up by 50% from about $3.5 trillion in 2015. Overall global car sales will continue to grow at an annual rate of around 2% by 2030.

Going forward, in addition to the growing automotive industry, rise in government support, the increasing urbanization, and the rising demand for fiber-reinforced plastic (FRP) will drive unsaturated polyester resins market growth.

According to the unsaturated polyester resins market analysis, the market size will grow from $9.6 billion in 2022 to $10.3 billion in 2023 at a compound annual growth rate (CAGR) of more than 6%. The unsaturated polyester resins market size is then expected to grow to $13.2 billion in 2027 at a CAGR of more than 6%.

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The unsaturated polyester resins market is concentrated, with a large number of small players. DOW Inc. was the largest competitor with 12.1% share of the market, followed by BASF SE, INEOS Group Holdings S.A., SABIC, UPC Technology Corporation, Eternal Materials Co Ltd., Polynt Group S.A.R.L., Mitsubishi Gas Chemical Company, Inc., DIC Corporation, and Scott Bader Company Ltd.

Unsaturated polyester resin manufacturers are increasingly focusing on bio-based UPRs to develop monomer-free unsaturated polyester resins from renewable raw materials that do not require the addition of styrene. In order to meet the demands of many applications, adjustable viscosities within a wide range are desired. For example, in July 2021, Schill + Seilacher, a Germany-based chemical company, launched unsaturated polyester resins in industrial scale, based on more than 99 % bio-based raw materials, called Polyvertec 3830. Polyvertec 3830 offers the possibility for far-reaching customization. With a change in styrene content (reactive diluent) of 0 to 40 wt.-%, the viscosity of the resins system can be adapted from 260 to 1 Pa∙s (Pascal seconds).

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The global unsaturated polyester resins market is segmented -

By type: orthophthalic resins, isophthalic resins, dicyclopentadiene, other types

By form: liquid form, powder form

By end user: building and construction, automotive, marine, pipes, ducts and tanks, wind energy, electrical and electronics, other end-users

As per the report, the top opportunities in the unsaturated polyester resins market segmented by type will arise in the orthophthalic resins segment. The unsaturated polyester resins market size will gain the most in China at $918.4 million.

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