Unsaturated Polyester Resin Market To Hit US $ 16,965.7
Pune, India, June 14, 2021 (GLOBE NEWSWIRE) – The world unsaturated polyester resin market size reach $ 16,965.7 million by 2027, posting a CAGR of 5.9% during the forecast period. The strength of the material provided by the polyester resin is expected to increase its popularity and drive the market, says Fortune Business Insights ™ in his report entitled “Unsaturated Polyester Resin Market, 2020-2027.“
The demand for unsaturated polyester resins is increasing in the construction industry due to the strength and agility of the product when coated with fiberglass, paints and other materials. The product is prepared by condensing the polymers of saturated and unsaturated dihydric acid. It is a liquefied polymer which gives exceptional resistance to fiberglass. Due to these advantages, the product is used as a paint solution for wood, ribbed panel, fixers and artificially produced paints.
In addition, demand for the product is increasing from the automotive, aerospace, marine and electrical industries, due to its reinforcing properties. It is also used to form structures and boats in the marine and automotive industries. This use is due to the light and very economical properties of the product. Moreover, it is used in electronics due to its anticorrosive, insulating and durable nature, thus driving the growth of the market.
Impact of COVID-19:
Shortage of raw materials to negatively affect the market
This market is negatively impacted by the COVID-19 pandemic due to the closure of activities. The rising government has imposed lockdown standards due to increasing cases of COVID-19 infection among the population. The lack of raw materials is a major shortcoming for manufacturers. As a result, the demand for the product is likely to decrease. However, the high prices of products and raw materials will soar and allow manufacturers to regain their position in the market.
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By type, the market is separated into orthophthalic, isophthalic and dicyclopentadiene (DCPD). According to the application, it is divided into building and construction, marine, pipes and tanks, electricity and electronics, land transport, wind power and others. Regionally, it is divided into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
Highlights of the report:
The report analyzes the main segments and the latest trends. It discusses in depth the impact of COVID-19 on the market and the driving and restraining factors. In addition, it examines the strategies developed by the major market players and regional developments.
Conductors and constraints:
Adoption on the rise Polyester resin products in the construction industry to promote the market
The unsaturated polyester resin is increasingly used for several applications in the construction industry. It is used for making tiles, bathroom fixtures and glass. The product offers superior insulation, exceptional surface finish and water resistance. In addition, the increase in population leads to the use of the product in the construction of new buildings. Improved infrastructure and increased availability of affordable housing have resulted in increased sales of the product in developing economies. Hence, the high per capita income of the population and the investment in construction activities are responsible for the growth of the unsaturated polyester resin market.
However, alternative products such as nylon and epoxy resins are likely to hamper the growth of the market.
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Strong demand from aerospace and automotive industries will drive growth in Asia-Pacific
Asia-Pacific is expected to dominate the unsaturated polyester resins market share owing to the increasing demand for the product from the aerospace and automotive industry. The region accumulated sales of $ 6,606.2 million in 2019. Economic improvement in India, Japan and China is expected to boost demand for the product for use in housing applications.
In North America, technological innovations and increasing disposable income of consumers are expected to drive market growth.
The growing demand for unsaturated polyester resins from the automotive sector will boost the market in Europe.
Launch of new products by companies to provide substantial business opportunities
Companies offer versatile products to attract consumer demand. For example, Reichold offers a wide range of unsaturated and saturated polyester resins for use in multiple applications. In addition, companies in the market are launching a multitude of products to improve their position in the market. For example, Deltech offers a wide range of products based on alcohol and acid and unsaturated polyester resin. The launch was aimed at improving the company’s position in the market.
December 2020: AOC acquired an unsaturated polyester resin spolchemistry plant in the Czech Republic to improve the company’s products and services in Eastern and Central Europe.
List of Major Players Presented in the Unsaturated Polyester Resin Market Report
- Royal DSM
- BASF SE
- U-PICA Company Ltd.
- UPC Technology Company
- Scott Bader Company Ltée.
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Detailed table of contents:
- Scope of research
- Market segmentation
- Research methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- Key ideas
- Main emerging trends – for the main countries
- Key developments: Mergers, Acquisitions, Partnerships, etc.
- Latest technological advances
- Overview of the regulatory scenario
- Porters Five Forces Analysis
- Qualitative Analyzes – Impact of COVID-19 on the Global Unsaturated Polyester Resin Market
- Supply chain challenges
- Measures taken by government / companies to overcome this impact
- Potential opportunities due to the COVID-19 epidemic
- Global Unsaturated Polyester Resin Market Analysis, Outlook and Forecast, by Type, 2016-2027
- Main conclusions / Summary
- Market size estimates and forecasts
- By type (volume / value)
- By type (volume / value)
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