The global unsaturated polyester resin market will multiply 1.5X from 2020 to 2030. Growth of this market is accredited to superior quality of products, and components manufactured using different kinds of Orthophthalic Polyester Resin. The versatility of applications in high growth industries such as building & construction, marine, and automotive will continue to generate profits. However, as governments around the world cut off non-essential imports and exports to contain coronavirus, the market for Orthophthalic Polyester Resin will witness a marginal slump.
Market players are facing challenges in production and distribution channels. China is the largest market for Orthophthalic Polyester Resin. The effect of COVID-19 on Chinese economy greatly affects the growth trajectory of this market.
Booming infrastructure development has generated high demand for Orthophthalic Polyester Resin, on the back of the prepolymer’s superior corrosion resistance. The global unsaturated polyester resin market will grow at a steady 5.3% CAGR during the forecast period (2019 – 2029). This can be attributed to the versatility of Orthophthalic Polyester Resin.
Key Takeaways of Unsaturated Polyester Resin Market Study
- Dicyclopentadiene Unsaturated Polyester or DCPD – UPR is the most popular product type. The segment accounts for more than 35% share of the total market value on the back of increasing applications in large, glass-fibre reinforced plastic products.
- Higher flexibility and tensile strength make Isophthalic products the highest growing product type segment. Isophthalic products will grow at a flourishing 6.5% CAGR through 2029.
- Building & Construction end-use segment is the most remunerative avenue for unsaturated polyester resin manufacturers. The segment holds more than 26% share of total market revenues and will grow 1.4X between 2019 and 2029.
- Marine, transport, and artificial stones are financially rewarding end-use segments for market players. Among these, transport is the most rewarding with an impressive 7.2% CAGR during the forecast period.
- East Asia accounts for a majority share of more than 40% of the total market value. Multiplying infrastructure investment by countries such as China, and Japan will continue to strengthen growth in this region.
- South Asia & Oceania is the most lucrative region with 6.7% CAGR through 2029. Booming automotive industry, and the need for energy efficient infrastructure in Indonesia, Singapore, and Malaysia contribute to the growth potential of this region.
DCPD-UPR to Account for Maximum Share in Market
Dicyclopentadiene Orthophthalic Polyester Resin (DCPD – UPR) account for the largest market value share of more than 35%. Countries are investing in expanding their marine capabilities to support their growing economies. Enhanced thermo-oxidative resistance offered by DCPD – UPR makes it a direct recipient of investments in marine industries.
This type of prepolymer is used in manufacturing tanks, closure panels, body panels, fenders, boat hulls, and decks for the marine industry. The improved processability and lower shrinkage of DCPD also garner traction in applications such as reinforced sanitary ware and pipes in building & construction.
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