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Unsaturated Polyester Resin Market Size Exploring Sales Revenue, Future Demands, and Growth Factors

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ethan
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The global unsaturated polyester resin market size is set to gain momentum from the increasing demand from numerous end-use industries, such as marine, electrical & electronics, aerospace, and automotive. The report further states that the unsaturated polyester resin market size was USD 11,579.6 million in 2019 and is projected to reach USD 16,965.7 million by 2027, exhibiting a CAGR of 5.9% during the forecast period.

How Did We Create This Report For You?

We follow an innovative research methodology that includes data triangulation on the basis of bottom-up and top-down approaches. We conduct extensive primary research to validate the projected market numbers. The data used to estimate the forecast for various segments at the country, regional, and global levels is collected through interviews with various leading stakeholders. We also derive information from paid databases, industry journals, SEC filings, and other authentic resources. The report includes several details, such as drivers, opportunities, challenges, and dynamics of the market.

Drivers & Restraints-

The building and construction industry is the major user of unsaturated polyester resins as the material is necessary for producing bathroom fixtures, floor tiles, roof tiles, and window panels. It also has certain beneficial properties, such as good electrical insulation, rigidity, resistance to wear, water repellency, and excellent surface finish. These factors are anticipated to propel the unsaturated polyester resin market growth in the upcoming years. However, the availability of numerous substitutes in the market would obstruct growth.

Segment-

Based on the application, the marine segment generated 8.84% in terms of the unsaturated polyester resin market share in 2019. It is set to show substantial growth backed by the increasing usage of UPR in surfer boards, fiberglass panels, interior & exterior parts, and boat decks.

Regional Insights-

Geographically, Asia Pacific procured USD 6,606.2 million in 2019 in terms of revenue. It is likely to retain its dominant position throughout the forthcoming years because of the rising demand for unsaturated polyester resins in numerous industries, such as aerospace, marine, building & construction, and automotive. Emerging nations, namely, Japan, India, and China, are expected to contribute to this growth because of constant economic development.

On the other hand, North America is set to exhibit a significant share stoked by the rising disposable income and technological advancements in the region. In Europe, Germany would showcase the highest growth on account of the sales and production of automobiles.

Competitive Landscape-

Key Players Focus on Various Organic & Inorganic Strategies to Compete in Market

The global market for unsaturated polyester resins houses several renowned manufacturers. Most of them are adopting the strategies of collaboration, acquisitions, new product launches, and expansion of distribution channels. Below is one of the latest industry developments:

  • A list of all the prominent unsaturated polyester resin manufacturers operating in the global market:

  • Reichold (U.S.)

  • Royal DSM (Netherlands)

  • Deltech (U.S.)

  • Polynt (Italy)

  • Dow (U.S.)

  • BASF SE (Germany)

  • INEOS (U.K.)

  • U-PICA Company. Ltd. (Japan)

  • UPC Technology Corporation (Taiwan)

  • Scott Bader Company Ltd. (U.K.)

  • Other Key Players

Source-https://www.fortunebusinessinsights.com/unsaturated-polyester-resin-upr-market-104760