Global Unsaturated Polyester Resins Market Growth Analysis With Investment Opportunities
Unsaturated Polyester Resins Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Unsaturated Polyester Resins Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UK, June 28, 2024 /EINPresswire.com/ -- The unsaturated polyester resins market has exhibited robust growth recently, expanding from $10.43 billion in 2023 to an anticipated $11.23 billion in 2024, reflecting a CAGR of 7.6%. This growth is driven by burgeoning emerging markets, rapid industrialization, the expanding chemical sector, and increased construction activities. Looking ahead, the market is poised for continued strong growth, projected to reach $14.89 billion by 2028 with a CAGR of 7.3%. Factors fueling this growth include heightened government support, rising urbanization rates, expansion in the automotive industry, and growing demand for fiber-reinforced plastics (FRP). Key trends shaping the market include the development of bio-based unsaturated polyester resins (UPRS) to produce monomer-free alternatives, expansions of manufacturing facilities, continuous product innovations, and strategic partnerships. These developments underscore a dynamic market landscape poised for innovation and sustainable growth in the coming years.
Rising Government Support and Urbanization Fuel Market Growth
The unsaturated polyester resins market is anticipated to experience substantial growth in the coming years, reaching $14.89 billion by 2028, growing at a CAGR of 7.3%. This forecasted growth is underpinned by increasing government support initiatives, rising urbanization trends, the expanding automotive sector, and heightened demand for fiber-reinforced plastics (FRP). Key trends in this period include advancements like bio-based UPRS, expansions of manufacturing plants, continuous product innovations, and strategic partnerships.
Government support is expected to be a significant driver for market expansion, bolstered by initiatives aimed at raising awareness about chemical processing and sustainable product development. For instance, Arkema S.A. partnered with the Spanish Superior Council of Science Research (CSIC) to recycle monomers for sustainable polyester powder resins, enhancing the recyclability of post-consumer PET materials. Moreover, initiatives like the establishment of the UK's first large-scale GRP and FRP recycling facility highlight ongoing efforts to decarbonize and promote material reuse in the marine industry.
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Key Players and Market Trends
Major companies driving the unsaturated polyester resins market include DOW Inc., BASF SE, INEOS Group Holdings S.A., SABIC, and UPC Technology Corporation. These players are focusing on product innovations to cater to diverse industry needs. Notably, advancements such as fast-setting polymer concrete composite (PolyCC) technology, developed for runway repairs using unsaturated polyester resin systems, exemplify the industry's commitment to innovation and performance enhancement.
Segments Driving Market Dynamics
The unsaturated polyester resins market is segmented based on:
Type: Orthophthalic Resins, Isophthalic Resins, Dicyclopentadiene, Other Types
Form: Liquid Form, Powder Form
End-User: Building And Construction, Automotive, Marine, Pipes, Ducts And Tanks, Wind Energy, Electrical And Electronics, Other End-Users
Asia-Pacific Leading Growth
Asia-Pacific emerged as the largest region in the unsaturated polyester resins market in 2023 and is projected to maintain its dominance through the forecast period. The region's rapid industrialization and increasing infrastructure projects drive demand for unsaturated polyester resins, making it the fastest-growing region globally.
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Unsaturated Polyester Resins Global Market Report 2024 from TBRC covers the following information:
Market size data for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Unsaturated Polyester Resins Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on unsaturated polyester resins market size, unsaturated polyester resins market drivers and trends, unsaturated polyester resins market major players, competitors' revenues, market positioning, and market growth across geographies. The unsaturated polyester resins market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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