The unsaturated polyester resins market is projected to grow from USD 8.50 billion in 2024 to USD 10.29 billion by 2029, at a CAGR of 3.9% between 2024 and 2029. This report provides an in-depth evaluation of the market, focusing on unsaturated polyester resins market size, trends, drivers, challenges, competitive landscape, and future growth potential. Unsaturated polyester resins play a vital role in various industries, driving market growth through their diverse applications. The utilisation of unsaturated polyester resins (UPRs) in the building and construction sector has increased owing to its remarkable characteristics, such as quick curing, resistance to abrasion, and elevated impact strength. UPRs provide environmentally friendly answers to a variety of construction problems and are widely utilized in roofs, building panels, bathroom accessories, and domestic structure composites. A increasing number of reasons, including increased urbanization, the expansion of infrastructure, and the demand for affordable and long-lasting building materials, are driving the demand for UPRs in the construction sector. In order to generate high-performance composite goods that can compete with conventional structural materials like steel and wood, UPRs are frequently mixed with fibrous materials like glass and carbon fibers.
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In addition to their exceptional mechanical strength, longevity, and resistance to seawater corrosion, UPRs are used extensively in the marine industry in the production of fiberglass boats and ships. UPR market expansion in the marine industry is being driven by the growing popularity of recreational activities such as sailing, boating, and yachting, which have increased demand for motorboats, sailboats, cruise ships, and other watercraft. UPRs ensure the longevity and safety of boats and ships by offering a lightweight, affordable alternative for their construction.
The major players operating in this business include, Polynt S.p.A.(Italy), Covestro AG(Germany), BASF SE (Germany), and INEOS (UK).
INEOS: The INEOS is a prominent worldwide producer of oil products, specialized chemicals, and petrochemicals, serving a variety of markets including construction, automotive, packaging, and healthcare. Since its founding in 1998, INEOS has expanded quickly thanks to innovative ideas and well-timed acquisitions, ranking among the biggest chemical businesses globally. The business is well known for its dedication to technical innovation, sustainability, and operational excellence.
INEOS provides a wide range of high-performance unsaturated polyester resins (UPR) to meet the needs of several end-use industries, such as the construction, marine, automotive, and industrial sectors. Their UPR products are highly regarded for their exceptional mechanical qualities, resilience to chemicals, and adaptability, which make them perfect for demanding applications. INEOS always prioritizes research and development to make sure that its UPR products satisfy changing market demands, especially in sectors that call for strong and lightweight materials. With its robust manufacturing capabilities and global reach, INEOS continues to be a major participant in the UPR market.
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Covestro AG: Covestro AG is one of the leading players in the production of high-performance polymers, polymer materials for automotive, construction, electronics and medical industries. The company was established in 2015 in Leverkusen, Germany, backed up by Bayer MaterialScience which was spun-off into Covestro. The firm deals in a wide variety of polyurethanes polycarbonates and coatings adhesives, and other specialty chemicals.
Covestro specializies in the unsaturated polyester resins (UPR) include higher unsaturated polyester resins for construction, marine, automotive and others. UPR products come in high quality mechanical properties, wear and corrosion, as well as flexibility which makes them suitable for a number of severe uses. Every manufactured UPR by Covestro incorporates sustainable components that are intended to reduce emissions of greenhouse gases and offer the best performance. Maintaining the ongoing growth and being international, Covestro remains one of the main drivers in the UPR market development.
Orthophthalic Resins by type segment dominate the market by highest share of the unsaturated polyester resins market during the forecasted period.
Orthophthalic Resins are dominating because of their balanced mechanical qualities and excellent performance-to-cost ratios. These resins have many beneficial applications because of their strong mechanical qualities, chemical resistance, and ease of processing. Because of their great performance and durability, they can be employed in a variety of industries, including the marine, construction, and automotive sectors. Additionally, orthophthalic resins are more extensively employed, especially for less expensive items, due to their comparatively lower cost as compared to isophthalic or vinyl ester resins. Their additional benefits include having command of the production procedures and having their products readily available, both of which are highly advantageous to them in the marketplace. With ongoing technological advancements and innovations in orthophthalic resins, coupled with expanding applications in emerging industries, the segment is expected to experience robust growth in the forecast period.
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Asia Pacific region is likely to be the fastest growing unsaturated polyester resins market during the forecast period.
Rapid industrialization and urbanization in the Asia Pacific region are driving demand across various sectors including automotive, electronics, construction, and marine industry. With expanding manufacturing activities in countries like China, India, Japan, and South Korea, there’s a rising need for unsaturated polyester resins for various applications. Moreover, ongoing infrastructural development projects, particularly in China and India, are boosting demand in the construction sector for applications like bonding, sealing, insulation, and surface protection. Advancements in unsaturated polyester resin formulations tailored to diverse industry needs are poised to further stimulate market growth in the region.
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