Unsaturated Polyester Resins Market Trends to Witness Astonishing Growth of USD 20.1 billion by 2030

The global unsaturated polyester resins market is projected to reach $20.1 billion by 2030, growing at a CAGR of 6.3% from 2021 to 2030.

OREGON, PORTLAND, UNITED STATES, March 31, 2023 /EINPresswire.com/ -- The global unsaturated polyester resins market generated $11.0 billion in 2020, and is anticipated to reach $20.1 billion by 2030, manifesting a CAGR of 6.3% from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players. The unsaturated polyester resins market refers to the industry that produces and distributes these resins, which are synthetic materials commonly used in the manufacturing of a wide range of products. Unsaturated polyester resins are thermosetting materials that are formed by the reaction of unsaturated organic acids or anhydrides with diols or polyols.

According to the report published by Allied Market Research, the Unsaturated Polyester Resins Market by Type (Orthophthalic Resin, Isophthalic Resin, Dicyclopentadiene, and Others) and End-Use Industry (Building & Construction, Tanks & Pipes, Electrical, Marine, Transport, Artificial Stones, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030”.

Rise in the building & construction sector and the advantages and features of UPR fuel the global unsaturated polyester resins market. On the other hand, presence of alternatives to UPR hinders the market. On the contrary, developing economies and their future growth will create several lucrative opportunities.

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Key players of the global unsaturated polyester resins market analyzed in the research include BASF SE, Dow, AOC, INEOS Group, Polynt-Reichhold Group, LERG SA, Royal DSM, Tianhe Resin Co., Ltd., Scott Bader Company Ltd., and UPC Group.

COVID-19 scenario:

During the pandemic, the construction work was temporarily halted to curb the spread of infection among workers in the construction industry.

Travel and transport restrictions were implemented which caused reduced industrial production and interrupted supply chains. This affected the global unsaturated polyester resins market.

The pandemic caused a limited supply of raw material to the business which affected the production of polyester resin. Lack of workforce also impacted the production process.

The report segments the global unsaturated polyester resins market on the basis of type, end-use industry, and region.

Based on the end-use industry, the building and construction segment contributed to the highest market share in 2020, attributing to more than one-fourth of the total market share, and is anticipated to dominate the market during the forecast period. On the other hand, the tanks & pipe segment is expected to manifest the fastest CAGR of 7.0% from 2021 to 2030.

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Based on type, the orthophthalic resin segment contributed to the highest market share in 2020, attributing to nearly two-fifths of the total market share, and is anticipated to lead during the forecast period. On the other hand, the isophthalic resin segment is expected to manifest the fastest CAGR of 6.7% from 2021 to 2030.

Based on region, Asia-Pacific, followed by North America, contributed to the highest share in 2020, holding half of the total share, and is expected to lead during the forecast period. The global unsaturated polyester resins industry across the Asia-Pacific region is anticipated to exhibit the fastest CAGR of 6.7% during the forecast period.

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David Correa
Allied Analytics LLP
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