Unsaturated Polyester Resin Market Overview

“The Global Unsaturated Polyester Resin Market is expected to grow rapidly at a 5.26% CAGR consequently, it will grow from its existing size of from $13.05 Billion in 2023 to $22.12 Billion by 2030.”

It is possible to define polymer as a type of polymer created through the polycondensation reaction of the polyacids with polyalcohols. The formation of water is the result in the process. process. Particularly this unsaturated polymer which is also known under its English abbreviation UPR is a readily printable liquid polymer that is once it has been cures (cross-linked by styrene the use of certain organic peroxides, known as hardeners) retains the solid shape that is created from the mold.

The items that are produced are extremely strong and durable properties. They are usually employed in conjunction with reinforcing materials, such as glass fibers which provide vitality to the FRP (an acronym that comes from English) which is a type of polyester that is reinforced by glass fibres, more commonly known by the name of fiberglass. In this scenario the polyester resin performs an array function that channels the force that are applied to it to fibers specifically designed to resist these forces, thus increasing the strength and preventing breakages that result from the use of.

Alongside or independently with the fibres of glass this liquid non-saturated polyester could be loaded with granules or powders of different sizes, that provide specifics of the rigidity and resistance properties as well as aesthetic properties to mimic the natural stones and marbles which can yield better outcomes. Unsaturated polyester resin is unsaturated polymer is utilized with great success in numerous industries, including in watersports to create of pleasure boats and windsurfers.

The polymer is at the heart of a revolution in the industry of boats as it offers outstanding performance and flexible and adaptable usage. Unsaturated polyester resins are non-saturated resins are also widely employed in the automotive industry (car industry) due to their outstanding design flexibility, light weight low system costs, and their mechanical durability. The material is also used to construct buildings, specifically for the production of cooker hobs and tiles for roofs, bathroom accessories, as well as pipes, ducts, and tanks.

The principal characteristics of unsaturated polyester resins includes: Liquid for their use:

• Poor linear shrinkage
• Excellent fibers that are able to wick water and charges
• Cold cross-linking with the adding a hardener
• Minimisation of the effects of the effect of sagging within the vertical stratification (thixotropic properties)

Solid, after cross-linkage:

• Amazing lightness
• Rigidity
• Good electrical insulation
• Dimensional stability in response to temperature changes
• A greater strength / weight ratio than steel.
• Resistance to chemical
• Great surface finish
• Water repellency
• Wear resistance and high temperatures
• Good mechanical resistance

Demand Outlook

Unsaturated Polyester resin (UPR) is a thermoset plastic that is utilized as the matrix for composites to allow use in various industries including marine, aerospace and other. The resins that are unsaturated (UPRs) are distinguished by their characteristics like the resistance of water to high, high transparency and high strength modulus and the capability to cure at room temperature that make them a preferred choice in diverse industries.

The increasing focus of governments across the world to cushion the environmental damage caused by human activities, and a growing awareness of global warming and climate change will also help to increase the sale of unsaturated polyester resins in the near future. Rapid urbanization and rapid industrialization around the globe are expected to encourage market expansion in the next few years.

The focus is on the development of infrastructure and a growing awareness of the advantages of UPRs and the growing demand for recycled products, increasing use of fiber reinforced plastics (FRPs) and advances in the research and development of bio-based resins are just a few of the factors which could impact the demand for unsaturated polyester resin over the next 10 years.

On the other hand there is the growing usage of different types of resins, such as epoxy resins and vinyl ester resins. and their increasing availability is expected to limit the consumption of unsaturated polyester resins over the forecast time. Another issue that producers of unsaturated polyester resin will have to face is the introduction of strict regulations to cut down VOC emissions.

Manufacturers of unsaturated polyester resin are currently conducting studies to discover alternatives for the styrene employed in UPR production, and various ways to make unsaturated polyester resins that emit low emissions. The emerging economies of Brazil, India, and China are expected to be highly profitable markets in the near future and draw established and new suppliers of unsaturated polyester resins in the future.

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Market Dynamics

Growth Drivers

Rising Applications in Numerous End-use Industries to Drive Global Market

The unsaturated polyester resins market anticipated to see a significant increase over the coming years because of its expanding use in a variety of applications in various industries. The incredibly flexible nature in unsaturated polymer resins, as well as their low price make them appropriate for various industries. Pipe Re-lining production of marble and artificial stone, electrical appliances manufacturing pipes, and the production of resins are just a handful of these industries.

The growth of the sector of marine in the Asia Pacific region is another expansion factor expected to spur the growth of the market for unsaturated polyester resins. A majority of workboats yachts and dinghies make use of this system due to its superior corrosion resistance and cost. The thermoset of unsaturated polyester is and it can be dried from a liquid or solid state, when placed in the right conditions. The increasing emphasis placed on the growth of rivers as a method of transportation and as a defense front is further accelerating the growth of the market.

Trends

"Rising Demand for Recyclable Resins and Increasing Investments in R&D of Bio-based UPRs"

Global warming and climate change are threatening the human race in recent times and have led to an increased focus on sustainability and conserving the natural environment. Governments and companies all over all over the world are promoting the use of recycled and environmentally friendly products. This will likely to increase the demand for unsaturated polymer resins over the long term.

Unsaturated polyester resin manufacturers are investing in research and development of bio-based resins with an environmental footprint that is minimal and are totally biodegradable. Companies that are looking to expand their business into unsaturated polyester and start-ups can focus on this trend of sustainability and create new unsaturated polyester resin products as well as manufacturing techniques that conform with the latest sustainability standards.

Expansion of Construction Industry to Drive Unsaturated Polyester Resins Market

The rising demand for unsaturated polyester resins within the building industry has been causing the global demand for components during the forecast time. Unsaturated polyester resin has been regarded as a key polymer in the creating composite materials, specifically casting resins (non-reinforced) and glass fiber reinforced plastics. Glass fiber reinforced plastics are utilized in the transport as well as marine and construction.

However, unsaturated cross-linked unreinforced polyester resin is utilized for the production of many varieties of marbles that are cultured. Development and growth in the construction industry call unsaturated polyester resins due their properties like the flexibility, lightness, and their resistance to corrosion. Dicyclopentadiene (DCPD) resins orthophthalic resins, orthophthalic resins and isophthalic resins constitute the largest types of the market for unsaturated polyester. Isophthalic resins are becoming increasingly employed in the industry of fiberglass that requires extremely flexible products that have a strong as well as chemical resistance.

Market Segment Analysis

"Low Cost and Better Corrosion Resistance of Orthophthalic Resins"

Based on the product the unsaturated polyester resin market is divided into DCPD orthophthalic, isophthalic and other.

Orthophthalic unsaturated Polyester resins accounted for more than 35 percent of the market in 2022 and is expected to hold an equivalent share over the forecast time.

Unique features of orthophthalic UPRs, like their high resistance to corrosion and low cost when compared with their counterparts make them an excellent choice to other synthetic resins in the market. DPCD Polyester resins are becoming popular due to their high deformation temperatures and high impact resistance and their high resistance to chemical attack. Dicyclopentadiene comes by the separation of C5 petroleum products, and is polymerized to create PDCPD.

PDCPD resins are widely used in construction equipment and transport vehicles. The demand of PDCPD unsaturated polyester resins are predicted to see a positive outlook in the marine industry in the next decade due to their very low shrinkage.

"Sales of Unsaturated Polyester Resins in Building & Construction Industry to Account for Dominant Market Share"

Rapid growth in industrialization and urbanization across the globe has led to an increase in investment in infrastructure development, which is expected to increase demand for unsaturated polyester resins in the next few years. Polyester resins that are unsaturated are extensively utilized for industry in construction industry to make roofing and concrete, as well as composites and for reinforcement. The increasing number of new construction projects that are being developed across the globe is anticipated to boost market growth in the near future.

The rising demand and popularity for fiber-reinforced polymer (FRP) pipe and tanks, due to their capability to resist the effects of corrosion and remain more durable than metal counterparts are expected to increase the sales of polyester resins that are not saturated in the coming ten years.

Based on the end-user, the market for unsaturated polyester resin is divided into building and construction, tanks and pipes electrical, marine transport, artificial stones and many more.

Competitive Landscape of the Unsaturated Polyester Resins Market

• Reichhold Inc.
• Koninklijke DSM N.V.
• Tianhe Resin Co. Ltd.
• BASF SE
• Polynt
• UPC Group
• Scott Bader Company Ltd.
• U-PICA Company Ltd.
• INEOS
• Satyen Polymers Pvt. Ltd.
• Eternal Materials Co. Ltd.
• LERG SA
• Dow Chemical

Recent Developments in Unsaturated Polyester Resins Market

In March 2023, Reichhold Inc. announced the launch of its new Vynlite 9980 resin. This resin is designed for use in high-performance applications, such as wind turbine blades and automotive body panels.

In February 2023, Nuplex Industries Ltd. announced the acquisition of Polynt Composites. This acquisition will strengthen Nuplex's position as a leading global supplier of UPRs.

In January 2023, UPC Technology Corp. announced the launch of its new UPR resin for use in 3D printing. This resin is said to be the first of its kind to be specifically designed for 3D printing applications.

In December 2022, BASF SE announced the launch of its new UPR resin for use in the construction industry. This resin is said to be the first of its kind to be specifically designed for use in concrete reinforcement.

In November 2022, AOC Resins announced the launch of its new UPR resin for use in marine applications. This resin is said to be the first of its kind to be specifically designed for use in boat building and repair.

Showa Denko K.K., a Japanese chemical industry company, declared their merger with Showa Denko Materials Co., Ltd. (former Hitachi Chemical) and transformed into two new companies, namely a holding company called "Resonac Holdings Corporation" and a manufacturing company called "Resonac Corporation".

DIC Corporation, a Japanese chemicals business, declared that its wholly-owned subsidiary 'Ideal Chemi Plast Private Limited' has been incorporated and began construction of a new coating resin production facility with triple production capacity.

In 2021, AOC announced that Lone Star Fund XI had completed the acquisition of AOC’s shares from CVC Capital Partners.

In February 2020, INEOS launched a new low-profile resin in North America for recreational vehicle and marine applications. Aerosol LP 67400 is developed to provide boat builders and RV makers with high strength and strong processing capabilities.

In October 2020, Ashland Global Holdings Inc., a leading American chemicals company, announced that it had completed the sale of its maleic anhydride business along with a manufacturing facility in West Virginia to AOC Materials. The deal was closed at US$ 100 million and helped AOC strengthen its unsaturated polyester resin business as maleic anhydride is a common raw material for its manufacturing.

Regional Insights

"Rising Focus on Smart Cities and Increasing Demand for Residential Infrastructure"

Demand for housing in United States has been increasing quickly in the last few years, and is likely to lead to the start of new infrastructure projects for residential construction across the nation. This is expected to increase the demand for construction equipment and other supplies that will increase the supply of unsaturated polyester resins in the next couple of years.

The increasing focus on the development of smart cities across the country could also boost the demand for unsaturated polyester resins through 2030. The growth of automotive production, the growing the demand for automotive components that are lightweight as well as a rising focus of sustainability and growing investment in developing and researching environmentally friendly resins are also potential opportunities which could boost unsaturated polyester resin sales across the country in the next 10 years.

"Increasing Urbanization & Presence of Robust Automotive Manufacturing Industry"

The presence of important automotive companies like Toyota, Suzuki, Nissan and others. in Japan is expected to result in a favorable situation for suppliers of unsaturated polyester in Japan over the next few years. The rising demand for light automobile components is anticipated to increase market for non-saturated polyesters used in automobile manufacturing over the forecast time.

Rapid industrialization and urbanization is boosting the need for infrastructure and will create lucrative opportunities for unsaturated polyester firms in the construction industry. The affordable cost in the market for unsaturated polyester resins are a crucial factor driving its widespread use in various industries in Japan and is expected to increase the growth of markets in the near future too.

"Implementation of Stringent Sustainability Mandates across the Region"

European countries have been on the cutting edge in terms of sustainability, and this is an important trend expected to alter the supply of unsaturated polyester resins in Europe during the forecast time and beyond.

Countries like Germany, France, Italy, Sweden, and the United Kingdom have been implementing strict regulations to promote the protection of the environment and is expected to increase the demand for unsaturated polyester resins, which are an essentially greener profile than the other synthetic resins that are available across the globe.

Segments Covered in the Unsaturated Polyester Resins Market

Unsaturated Polyester Resins Market By Product :

• DCPD
• Orthophthalic
• Isophthalic
• Others

Unsaturated Polyester Resins Market By End Use :

• Building & Construction
• Tanks & Pipes
• Electrical
• Marine
• Transport
• Artificial Stones
• Others

Unsaturated Polyester Resins Market By Region :

• North America
• Latin America
• Europe
• APAC
• MEA

Frequently Asked Questions:

What is the expected growth rate and size of the global unsaturated polyester resin market?

Unsaturated Polyester Resin Market is expected to grow rapidly at a 5.26% CAGR consequently, it will grow from its existing size of from $13.05 Billion in 2023 to $22.12 Billion by 2030.

Which product type contributes the highest revenue share in unsaturated polyester resin market?

Building & construction end-use of unsaturated polyester resins is the most revenue-generating application.

Which segment holds the largest value in market share?

Dicyclopentadiene Unsaturated Polyester Resins (DCPD - UPR) account for the largest value share of more than 33.5% in the unsaturated polyester resin market.

Which country is the largest consumer of unsaturated polyester resins?

China is the largest consumer of unsaturated polyester resins.