Unsaturated Polyester Resins Market has gained a heavy momentum over the recent years, by embarking its remarkable presence in the construction industry. The ever-increasing composite demand due to its low cost, light weight, and superior durability will spur UPR industry growth. Moreover, UPR is widely used in the automobile part manufacturing and also in manufacturing of kayaks, powerboats, and sailboats, which is significantly increasing the product demand across the globe. According to Global Market Insights Inc.,” Unsaturated Polyester Resins Market is estimated to register a CAGR of 7% over the period of 2015-2022.”
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FRP (Fiber reinforced plastics) is swiftly replacing the traditional materials due to its superior corrosion resistance & strength properties. These are widely used in automotive, marine, construction, and aerospace industries, which in turn is profiting orthopthalic unsaturated polyester resins industry. Orthopthalic UPR market was the highest industry share contributor amongst the product segment in 2014, and is expected to boost the overall industry growth in the coming five years. Another product type, which is forecast to observe lucrative growth rate of 8% over the period of 2015-2022 is the Dicyclopentadiene (DCPD) unsaturated polyester resins market.
UPR are extensively used in building & construction sector for roofing, building panels, concrete forming pans, reinforcement, and household structures composites. The rapidly growing global construction expenditure is set to inflate with target market size slated to surpass USD 13,000 billion by 2022 from USD 7,000 billion in 2014. Increasing international trade over the seas will form a profitable roadmap for the marine applications, which is foreseen to register a CAGR of 8% over the period of 2015-2022. Artificial stones, electrical, pipes & tanks are other end-use sectors boosting UPR industry share.
In 2014, Asia Pacific was the major contributor in the unsaturated polyester resins market, owing to tremendous growth in the automotive and the construction industry. China, India, Indonesia, and Thailand are the prominent countries fueling the regional growth.
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The comeback of the U.S. industry post economic turmoil, has provided considerable momentum in the construction, electronics, and automotive sectors. Unsaturated polyester resins industry is poised to witness a spur, owing to vigorous progression in the regional oil & gas industry.
SABIC Chemical Company, CCP Composites, Changzhou New Solar, Ashland, Dow and BASF are some of the major industry participants. These players are focused on research and developments for developing bio-based products, creating new growth prospects for unsaturated polyester resins market. Mergers & acquisition will be another key strategic move taken in order to form a strong manufacturing base and expand their global presence.
Browse key industry insights spread across 108 pages with 68 market data tables & 15 figures & charts from the report, “Unsaturated Polyester Resins (UPR) Market2015 – 2022” in detail along with the table of contents:
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