Unsaturated Polyester Resins (UPR) Market Size By Product (Isopthalic, Orthopthalic, DCPD), By End-use (Building & Construction, Artificial Stones, Pipes & Tanks, Transport, Electrical, Marine), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2015 – 2022
Published Date: Jan 2016 | Report ID: GMI133 | Authors: Kunal Ahuja, Kritika Mamtani
Unsaturated Polyester Resins Market size was over USD 7 billion in 2014 and industry expects consumption at over 7.5 million tons by 2022.
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Increasing demand in construction, automotive, marine, and electrical industries owing to its durability, low cost, and lightweight properties shall foster the unsaturated polyester resins market growth. Growing construction industry in the U.S. and Canada is projected to support market growth. Global construction spending in the U.S. was valued at over 1.2 trillion in 2018 where approximately USD 580 billion was spent on residential infrastructure.
Increasing demand for UPR as alternative to metals such as aluminum and steel owing to its cost-effectiveness and ease of design and fabrication is projected to augment market growth over the forecast period. The UPR is widely used in various industry verticals to improve its composites thermal, flexural, and mechanical properties. According to the American Composites Manufacturers Association, the composites end-product market is expected to exceed USD 113.2 billion by 2022. Increasing demand for composite materials in the automotive and construction industries is projected to have a positive impact on market growth over the long run.
Increasing demand for fiber-reinforced plastic (FRP) in transportation, construction, and marine industries may support product growth. Growing demand for nonreinforced cross-linked UPR for manufacturing automotive repair putty, gel coats, and bowling balls is estimated to propel revenue growth.
However, the volatility of raw material prices affects the cost of end-product, which is projected to hamper revenue growth of the market. Moreover, low recycling property of these resins is expected to limit usage in automotive application, which in turn may hinder the market growth.
|Base Year:||2014||Market Size in 2014:||7 Billion (USD)|
|Historical Data for:||2012 to 2014||Forecast Period:||2015 to 2022|
|Forecast Period 2015 to 2022 CAGR:||7.5%||2022 Value Projection:||12 Billion (USD)|
|Pages:||108||Tables, Charts & Figures:||80|
|Geographies covered (17):||U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC|
|Segments covered:||Product, End-use and Region|
|Companies covered (16):||AOC Resins, Ashland Inc., BASF SE, DuPont, CCP Composites, DSM, Scott Bader Company Ltd., The Dow Chemical Company, Tianhe Resin Co. Ltd., UPC Technology Corp., Satyen Polymers Pvt. Ltd., SABIC Innovative Plastics Holding BV, Eternal Chemical Co. Ltd., Changzhou Yabang Chemical Co. Ltd, Reichhold Inc., Lanxess AG|
|Pitfalls & Challenges:||
Unsaturated Polyester Resins Market, By Product
Global orthophthalic market demand is expected to exceed USD 4 billion up to 2022 on account of increasing demand in building and construction applications. These resins are majorly used in automotive components, hulls and decks of boats, wind blades, laminating resins, and FRP structure. Growing demand for orthophthalic resin in molding material, marine, energy, electronics, building & construction, and automotive sectors may support the growth of the segment over the next few years. Advantages of orthophthalic resins over other counterparts due to chemical resistance, cost, and toughness characteristics is projected to have a positive impact on market growth.
Isophthalic UPR market share is projected to register growth at over 6% during the foreseeable timeframe. It is used in fiberglass reinforced plastics production owing to its chemical resistance, flexibility, and tensile strength properties is a key factor driving the industry growth. Increasing demand for isophthalic resins in marine application owing to its water resistance property may encourage product demand.
UPR Market, By Application
Building & construction application market demand is projected to surpass USD 3 billion over the foreseeable timeframe on account of the growing construction industry in China, India, The U.S., Germany, and UK. The unsaturated polyester resins are majorly used in roofing and other composite structure. Rapid urbanization coupled with increasing number of government schemes to provide an affordable home to individuals is estimated to augment growth.
Tanks and pipes application is may register growth at around 6% during the predicted timeframe. Growing demand for tanks and pipes manufactured from UPR in the chemical industry owing to hydrolytic stability and heat resistance properties is a major factor contributing towards revenue growth.
North America, driven by the U.S. unsaturated polyester resins market demand should surpass USD 2.5 billion by 2022 due to the growing construction, marine, and electrical industries. Increasing number of marine investments in the U.S. and Canada is may propel regional demand.
Europe market demand may grow significantly at around 6.5% during the forecast time period. Stringent government norms regrading automotive components recycling may hinder profitability in the region. European Commission has approved companies to merge in order to produce UPR which are preferably used to make reinforced plastics.
Asia Pacific UPR market size, driven by India, China and Japan may exceed USD 6 billion up to 2022. Rapid industrialization coupled with growing infrastructural development spending may accelerate regional growth demand. Growing demand for renewable energy resources such as wind energy in the region should support market growth. Presence of a large number of automobile manufacturers in China, India, and Indonesia owing to availability of raw materials and labor, and favorable FDI policies may support industry growth.
Competitive Market Share
Global UPR market share is fragmented including DSM, Ashland, Changzhou New Solar Tianhe, Down BASF, SABIC, Dow, and CCP Composites. Major industrial participants are collaborating and acquiring companies to enhance product and expand business globally.
UPR is a polymer used to produce composite materials such as glass-reinforced plastics and casting resins. These resins are produced by condensation of diols and unsaturated acids without or with diacids. The unsaturated polyester resins are used for manufacturing tanks, pipes, sanitary ware, and high-performance components which are used in automotive, marine, and construction industries.
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