Market Summary
The global Polyester Resins market will grow by 5.7%, from USD 9.82 billion in 2019 to USD 15.33 billion by 2027. The market for polyester resins is expected to grow due to the development of buildings and Construction. Market growth will be affected by a rise in the use of environmentally friendly and energy-saving goods.
The market development will be supported by favorable government regulations and strategic actions for infrastructure development. Market growth will be supported by increased foreign investment and trade promotion. The market has seen a widening distribution channel for polyester resins, which has aided in market growth.
Because of their lightweight, greater durability, and low price, these resins are in high demand. Polyester resins enhance thermal, morphological attributes, and flexure-composites mechanical. These resins are used in concrete forming pans and doors, as well as electrical boxes, concrete panels, concrete bars, concrete rebar, and concrete rebar.
These resins can also be used to make recreational products like powerboats, sailboats, kayaks, and personal watercraft. The market will grow as consumers live more luxurious lives. These resins are used to make automotive panels, such as body panels. Regulations about product storage and exposure will limit the product’s demand.
Type Outlook
The isophthalic resins have been designed to resist corrosion. These resins are resistant to acids, water, and petroleum solvents like tank linings, vessels fume hoods, fume hoods, and even ducting. They are cheaper and have a higher degree of flexibility, greater strength, and chemical resistance.
As fiberglass reinforcement plastics, orthophthalic resins can be used. These resins are used extensively in Construction. This product is in high demand due to the rising construction demand in emerging countries. The threat of substitutes will reduce the product’s demand. There will be ample growth opportunities due to the rapid development of radioactive waste treatment methods.
End users Outlook
Pipes and tanks are in high demand due to rising concerns about corrosion of metal pipes and tanks and the increasing importance of tank farm management for offshore and onshore oil and gas applications.
The high demand from the marine and chemical industries will drive the market in the next few years. The market will see an increase in demand due to the increased use of polyester resins for land transportation and building & Construction.
Regional Outlook
China will be the largest market in the Asia Pacific region. This region is seeing a rise in demand from the end-use industries like electronics, Construction, marine, and transport. The demand for polyester resins will also be driven by the increased sales of cars in India, China, Japan, and other Asian countries. Indian government initiatives like Make in India will encourage demand.
In 2019, the market for polyester resins was represented by Europe at 19.0%. The demand will be affected by strict government regulations on automotive parts recycling and lower profitability.
Market-O-Comics
- Dicyclopentadiene can be used in various resins, including aromatic hydrocarbon resins and epoxy resins, as well as acrylates, phenolic resins, and unsaturated polyester resins.
- Wind energy is expected to grow at 6.4% CAGR over the forecast period. The volatility in prices and growing power fuel consumption are driving the demand for alternative wind energy.
- Polyester resins are also being sought after due to consumers and businesses’ rapid adoption of electric vehicles. The Electrical & Electronics segment’s forecast period grows at 6.2% CAGR.
- Due to the growing marine, Construction, and electrical industries, North America held a 20.5% market share in 2019. The polyester resin market will be driven by the increasing number of investments in Canada and the United States.
This market study profiles companies that were included.
The report profiles Ashland Inc. and Polynt, BASF SE. Reichhold Inc. Royal DSM., AOC LLC. Nuplex Industries Ltd. Nuplex Industries Ltd. UPC Technology Corp. Scott Bader Company Ltd. and U-Pica Company Ltd. are important manufacturers of Polyester Resins.
- RIM Process will begin rolling out space exploration wheels in August 2020. The wheels for specialty vehicles are like those used in space and military exploration applications molded from a Dicyclopentadiene-based thermoset resin with high strength, lightweight, and heat tolerance.
Start-up Traction
This industry has many growth opportunities. Many startups have entered the market with innovative products and technologies. Many startups are trying to enter the market as technology is increasingly infiltrated.
Deals Landscape
The Polyester Resins sector is a major part of mergers and acquisitions. Other market leaders have been joining the market in addition to the companies currently operating in the market.
- Under the Vision 2030 economic-transformation plan, the Saudi Arabian government initiated several construction projects. This project covered many sectors, including water, power and seaport, hydrocarbons, road, construction, rail, and airport sectors.
Expert Insights
According to data and reports, there are encouraging signs that Polyester resin will be used more frequently. Industry analysts predict that new companies will enter the market, theoretically altering the current situation. The new entrants to the market should focus on innovation and integration through new technologies while reducing complexity and overall operational costs. Experts believe that the key to industry growth is increasing the adoption of new technology in developed countries. A review of company strategy shows that businesses focus on product launch and negotiation to increase their share. Both of these approaches were instrumental in developing technologies and product diversification within the untapped areas. These approaches were used by businesses to diversify within their industries.
The report covers segments.
This report predicts global, regional, and country revenue growth. It also analyzes market trends in each sub-segment from 2018 to 2027. This report’s scope can be described as follows:
MWR have segmented the global Polyester Resins Market based on type, end-users, and region.
Unsaturated Polyester Resins Market Report Scope and Segmentation | |
|---|---|
| ATTRIBUTES | DETAILS |
| ESTIMATED YEAR | 2022 |
| BASE YEAR | 2021 |
| FORECAST YEAR | 2030 |
| HISTORICAL YEAR | 2017-2021 |
| UNIT | Value (USD Million/Billion) |
| BY REGION | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
Type Outlook
- Orthophthalic Resins
- Dicyclopentadiene (Dcpd) Resins
- Isophthalic Resins
- Other
- Terephthalic Resins
- Gelcoat Resins
- Chlorogenic Resins
End Users
- Building & Construction
- Marine
- Pipes & Tanks
- Transport by Land
- Electrical & Electronics
- Artificial Stones
- Wind Energy
- Other
Regional Outlook
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- UK
- Spain
- Poland
- Russia
- The Netherlands
- Norway
- Czech Republic
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Malaysia
- Thailand
- Singapore
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Colombia
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Northern Africa
- Rest of MEA