Unsaturated Polyester Resins Market to expand significantly during 2021-2030 | $20.1 Billion
Jan 18, 2022
Unsaturated Polyester Resins Market is driven by rise in the building & construction sector and the advantages and features of UPR. 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.
According to the report published by Allied Market Research, 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.
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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.
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 the application, the global unsaturated polyester resins market is segmented into building & construction, tanks & pipes, electrical, marine, transport, artificial stones, and others. The building & construction segment accounted for the largest share in 2020 and tanks & pipes segment projected to witness growth at the highest CAGR of 7.0%.
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 market across the Asia-Pacific region is anticipated to exhibit the fastest CAGR of 6.7% during the forecast period.
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The Asia-Pacific region accounted for the largest unsaturated polyester resins market share in 2020. Asia-Pacific has established itself as a major producer and user of unsaturated polyester resin. Low-cost labor, government efforts like Make in India, and the proposed scheme for entrepreneurship development in India may open up chances in the industrial and infrastructural sectors.
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.
- 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.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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