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Unsaturated Polyester Resin Market

Unsaturated Polyester Resin Market Analysis, By Product (DCPD, Orthophthalic, Isophthalic), By End Use (Building & Construction, Tanks & Pipes, Electrical, Marine, Transport, Artificial Stones), and By Region - Global Market Insights 2023 to 2033

Analysis of Unsaturated Polyester Resin Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Unsaturated Polyester Resin Market Outlook (2023 to 2033)

The global unsaturated polyester resin market currently accounts for a value of US$ 13.1 billion and is pegged for expansion at 5.5% CAGR from 2023 to 2033. By the end of the forecast period, global demand for unsaturated polyester resins is thus estimated to secure a revenue of US$ 22.5 billion.

Unsaturated polyester resin is a thermoset polymer that is used as a matrix in composites for application in several industry verticals such as aerospace, marine, etc. Unsaturated polyester resins (UPRs) have characteristic properties such as high resistance to water, transparency, high strength modulus, and room temperature cure capability, which makes them a popular choice in different industries.

Rising focus of governments around the world on cushioning the adverse environmental impact of human activities and increasing awareness regarding climate change and global warming are also slated to promote sales of unsaturated polyester resins in the future. Rapid industrialization and urbanization around the world are also expected to favour market expansion over the coming years.

High focus on infrastructure development, growing awareness regarding the benefits of UPRs, increasing consumer demand for recyclable products, surging use of fiber-reinforced plastics (FRPs), and advancements in research and development of new bio-based resins are other aspects that could alter unsaturated polyester resin demand over the next ten years.

On the flip side, the increasing use of other types of resins such as epoxy resins, vinyl ester resins, etc., and their growing availability are projected to hinder unsaturated polyester resin consumption across the forecast period. Another challenge that unsaturated polyester resin producers will face is the implementation of stringent mandates to reduce VOC emissions.

Unsaturated polyester resin manufacturers are focusing on research to find alternatives for styrene that is used in UPR production and different ways to manufacture unsaturated polyester resins with minimal emissions. Emerging economies of Brazil, India, and China are predicted to emerge as highly opportune markets in the future and attract new as well as established unsaturated polyester resin vendors going forward.

A comprehensive and in-depth assessment of how local supply, supply chain management, safety regulations, and other influential aspects shape market growth has been listed in this unsaturated polyester resin market research study by Fact.MR, a market research and competitive intelligence provider.

Report Attributes

Details

Unsaturated Polyester Resin Market Size (2023)

US$ 13.1 Billion

Forecasted Market Value (2033F)

US$ 22.5 Billion

Global Market Growth Rate (2023 to 2033)

5.5% CAGR

Orthophthalic Segment Market Share (2022)

~35%

Market Share of Building and Construction Industry (2022)

25%

Demand Growth for URPs in United States (2023 to 2033)

~5.1% CAGR

Market Share of Asia Pacific (2033F)

>60%

Key Companies Profiled

  • Reichhold Inc.
  • Koninklijke DSM N.V.
  • Tianhe Resin Co. Ltd.
  • BASF SE
  • Polynt
  • UPC Group
  • Scott Bader Company Ltd.
  • U-PICA Company Ltd.
  • INEOS
  • Satyen Polymers Pvt. Ltd.
  • Eternal Materials Co. Ltd.
  • LERG SA
  • Dow Chemical

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How is the Sustainability Trend Shaping the Demand for Unsaturated Polyester Resins?

“Rising Demand for Recyclable Resins and Increasing Investments in R&D of Bio-based UPRs”

Climate change and global warming have become imminent threats to human civilization in present times and this has resulted in a heightened focus on sustainability and the conservation of the environment. Companies and governments around the world are pushing the use of recyclable and eco-friendly products, which is anticipated to supplement the demand for unsaturated polyester resins in the long run.

Unsaturated polyester resin suppliers are investing in the research and development of new bio-based resins that have a minimal environmental impact and are completely biodegradable. Aspiring unsaturated polyester resin companies and start-ups could focus on this sustainability trend and come up with novel unsaturated polyester resin products and manufacturing techniques that are compliant with the current sustainability norms.

Unsaturated Polyester Resin Market Forecast by Fact.MR

Country-wise Insights

Why Should Unsaturated Polyester Resin Manufacturers Focus on the United States?

“Rising Focus on Smart Cities and Increasing Demand for Residential Infrastructure”

Demand for housing in the United States has been increasing at a rapid pace in the past few years and this trend is expected to result in the launch of new residential infrastructure projects in the country. The aforementioned factor is slated to bolster demand for construction products and supplies, which in turn is estimated to bolster shipments of unsaturated polyester resins over the coming years.

Increasing focus on the development of smart cities in the country will also aid unsaturated polyester resin demand through 2033. Increasing automotive production, expanding demand for lightweight automotive components, growing focus on sustainability, and increasing investments in research and development of eco-friendly resins are other prospects that could uplift unsaturated polyester resin sales in the country over the next ten years.

What Makes Japan a Lucrative Market for Unsaturated Polyester Resin Companies?

“Increasing Urbanization & Presence of Robust Automotive Manufacturing Industry”

The presence of key automotive manufacturers such as Toyota, Suzuki, Nissan, etc. in Japan is anticipated to create an opportune scenario for unsaturated polyester resin suppliers in the country over the coming years. Rising demand for lightweight automotive components is projected to bolster the demand for unsaturated polyester resins in automotive manufacturing across the forecast period.

Rapid urbanization and industrialization are promoting the demand for infrastructure development and thus are projected to create moneymaking opportunities for unsaturated polyester resin companies in the construction sector. The low cost of unsaturated polyester resins is another key aspect that is promoting its adoption in several industry verticals in Japan, which is predicted to favor market growth in the future as well.

Which Key Trend is Driving the Sales of Unsaturated Polyester Resins in European Countries?

“Implementation of Stringent Sustainability Mandates across the Region”

European countries have been at the forefront in terms of sustainability and this is a key trend that is projected to alter shipments of unsaturated polyester resin in Europe across the forecast period and beyond.

Governments in countries such as Germany, France, Italy, Sweden, and the United Kingdom have been implementing strict regulations that promote the conservation of the environment and this is projected to uplift sales of unsaturated polyester resins that have a comparatively eco-friendlier than other synthetic resins available in the global landscape.

Unsaturated Polyester Resin Market

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Category-wise Insights

Why are Ortho Polyester Resins Preferred over Other UPR Products?

“Low Cost and Better Corrosion Resistance of Orthophthalic Resins”

Based on product, the unsaturated polyester resin market is segmented into DCPD, orthophthalic, isophthalic, and others.

  • Orthophthalic unsaturated polyester resins accounted for nearly 35% of the global market share in 2022 and are estimated to maintain a similar share throughout the forecast period.

Characteristic properties of orthophthalic UPRs such as high corrosion resistance and low costs as compared to their substitutes make them a highly preferable alternative over other synthetic resins available in the marketplace. DPCD polyester resins are also gaining popularity owing to their high deformation temperature, high impact resistance, and high chemical resistance. Dicyclopentadiene is obtained from the separation of C5 petroleum products and it polymerizes to form PDCPD.

PDCPD resins are extensively used in construction machinery and other transport vehicles. Demand for PDCPD unsaturated polyester resins is anticipated to have a bright outlook from the marine industry over the coming years owing to their low shrinkage characteristics.

Where is Unsaturated Polyester Resin Demand Projected to Be High?

“Sales of Unsaturated Polyester Resins in Building & Construction Industry to Account for Dominant Market Share”

Rapid increase in urbanization and industrialization around the world has resulted in rising investments in infrastructure development, which is projected to primarily bolster demand for unsaturated polyester resins over the coming years. Unsaturated polyester resins are being extensively used in the construction industry for roofing, concrete, composites, and reinforcement. The growing number of new construction projects being launched around the world is also expected to benefit market growth in the future.

Surging popularity and demand for fiber-reinforced plastic (FRP) tanks and pipes owing to their ability to withstand corrosion and stay durable longer than their metal counterparts are also anticipated to supplement sales of unsaturated polyester resins over the next ten years.

Based on end use, the unsaturated polyester resin market is segmented into building & construction, tanks & pipes, electrical, marine, transport, artificial stones, and others.

Competitive Landscape

Prime unsaturated polyester resin vendors are focusing on mergers, acquisitions, and collaborations that allow them to widen their business scope and strengthen their share in the global marketplace.

  • In October 2020, Ashland Global Holdings Inc., a leading American chemicals company, announced that it had completed the sale of its maleic anhydride business along with a manufacturing facility in West Virginia to AOC Materials. The deal was closed at US$ 100 million and helped AOC strengthen its unsaturated polyester resin business as maleic anhydride is a common raw material for its manufacturing.

A more detailed and elaborative account of how new developments by top unsaturated polyester resin producers influence aspects such as pricing trends and product standards has been mentioned in this latest Fact.MR research analysis.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

Key Segments of Unsaturated Polyester Resin Industry Research

  • By Product :

    • DCPD
    • Orthophthalic
    • Isophthalic
    • Others
  • By End Use :

    • Building & Construction
    • Tanks & Pipes
    • Electrical
    • Marine
    • Transport
    • Artificial Stones
    • Others
  • By Region :

    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

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- FAQs -

The global unsaturated polyester resin market tends to grow at a steady 5.5% CAGR by 2033.

Building & construction end-use of unsaturated polyester resins is the most revenue-generating application.

Dicyclopentadiene Unsaturated Polyester Resins (DCPD - UPR) account for the largest value share of more than 35% in the unsaturated polyester resin market.

China is the largest consumer of unsaturated polyester resins.

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