Unsaturated Polyester Resin (UPR) Market Analysis

Unsaturated Polyester Resin Market Analysis

Global orthophthalic product segment 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./p>

Advantages of orthophthalic resins over other counterparts due to chemical resistance, cost, and toughness characteristics is projected to have a positive impact on unsaturated polyester resin market growth./p>

Isophthalic segment is projected to register a growth rate of 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 the unsaturated polyester resin market demand./p>

Building & construction application 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 the unsaturated polyester resin market revenue.
 

Tanks and pipes application 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. 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 the regional unsaturated polyester resin market.
 

Europe 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, 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 the unsaturated polyester resin market share.