Global Unsaturated Polyester Resin Market Demand to Grow at a Steady CAGR of 5.3% by 2032 – SMU Daily Mustang
The global unsaturated polyester resins market will grow 1.5 times between 2020 and 2030. The growth of this market is attributed to the superior quality of products and components manufactured using different types of unsaturated polyester resins. The versatility of applications in high growth sectors such as building and construction, marine and automotive will continue to drive benefits. However, as governments around the world cut non-essential imports and exports to contain the coronavirus, the market for unsaturated polyester resins will experience a marginal collapse. Market players face challenges in production and distribution channels. China is the largest market for unsaturated polyester resins. The effect of COVID-19 on the Chinese economy greatly affects the growth trajectory of this market.
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Key Takeaways from Unsaturated Polyester Resin Market Research
- Dicyclopentadiene Unsaturated Polyester or DCPD – UPR is the most popular type of product. The segment accounts for more than 35% of the total market value thanks to the increase in applications in large glass fiber reinforced plastic products.
- Higher flexibility and tensile strength make isophthalic products the highest growing product type segment. Isophthalic products will experience a flourishing growth of 6.5% CAGR through 2029.
- The building and construction end-use segment is the most rewarding avenue for unsaturated polyester resin manufacturers. The segment holds over 26% of the total market revenue and will grow 1.4x between 2019 and 2029.
- Marine, transport and artificial stones are financially attractive end-use segments for market players. Among these, transportation is the most rewarding with an impressive CAGR of 7.2% during the forecast period.
- East Asia accounts for a majority share of more than 40% of the total market value. Increased infrastructure investment by countries like China and Japan will continue to bolster growth in this region.
- South Asia and Oceania is the most lucrative region with a CAGR of 6.7% through 2029. The booming automotive industry and the need for energy-efficient infrastructure in Indonesia, Singapore and Malaysia contribute to the growth potential of this region.
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Global Unsaturated Polyester Resin Market: In-Depth Assessment of Key Segments
The global unsaturated polyester resin market is segmented on the basis of product, end-use, and region.
- Building construction
- Tanks and pipes
- Artificial Stones
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East and Africa
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