Unsaturated polyester resins are resins that are multipurpose and flexible and have a high requirement across the worldwide plastics markets (fiberglass reinforced). In the present scenario of increasing costs of raw materials in this industry, producers choose high performance and lucrative unsaturated polyester resins over other resins.
Demand for the worldwide unsaturated polyester resins market was worth more than USD 6 billion in 2012. It is projected to rise from 2013 to 2019, at a CAGR of around 7 percent. Rising at this rate, the demand is estimated to achieve about USD 10 billion in 2019. Growing modernization, varying standards of living and the developing construction industry drive the demand for unsaturated polyester resins.For Market Research Report on "Unsaturated Polyester Resins (UPR) Market" Visit - http://www.grandviewresearch.com/industry-analysis/unsaturated-polyester-resin-upr-market
Useful And Market Insights
Expansion in the construction industry of India and China is predicted to be one of the imperative components, driving the demand for unsaturated polyester resins in the future. Besides, developments in the industry of pipes and tanks, owing to increasing demand from the industry of chemicals are likely to expand the unsaturated polyester resins market during the estimated period.
Increasing costs of raw materials and environmental guidelines are estimated to hinder the market development in the coming years. Growing scope of applications of unsaturated polyester resins in the market of fiber glass, in combination with the increasing demand for unsaturated polyester resins in the market of artificial stones is estimated to provide prospects for the development of the unsaturated polyester resins market in the future.
Unsaturated polyester resins are broadly used across the industries of automotives/transportation, marine, pipes and tanks, electrical and electronics and wind energy. The worldwide unsaturated polyester resins market witnessed downbeat expansion during financial recession, though, in the previous two years, the consumption of unsaturated polyester resins has increased progressively, owing to rise in demand from the industries of buyers.
The unsaturated polyester resins market is fragmented into products, applications and geographical regions. These aspects are discussed below.
The market is segmented into isopthalic, orthopthalic, DCPD and others.
Orthopthalic resins are broadly used in the industries of construction, transport and marine. This is due to their low price in contrast to DCPD resins. They lead the product sector of the market.
DCPD resins are being accepted growingly, owing to low ejection of VOC and are expected to occupy share in the future years. They are estimated to expand most rapidly from 2014 to 2020, at a CAGR of more than 6 percent.
The unsaturated polyester resins market applications sector is segmented into tanks and pipes, building and construction, electrical, transport, marine, artificial stones and others.
Building and construction is the biggest application of the market. It is estimated to experience high demand for unsaturated polyester resins.
The worldwide market is segmented into Asia Pacific, North America, Europe and the rest of the world.
Asia Pacific occupied more than 50 percent of the share in the unsaturated polyester resins market volume in 2013. It is estimated to remain the biggest market in the future. Unsaturated Polyester Resins Market SIze Source: Grand View Research