(PRWEB) June 03, 2014
The global market for unsaturated polyesters is experiencing strong growth, mainly due to the rising demand from its end-use applications, such as wind energy applications. Modern technologies and innovations in applications, products, and design solutions are making a wide impact on the growth of this industry globally. Strong growth in glass-fiber reinforced plastic, powder coatings, composites, automotive parts, and green resins is creating the need for innovative design and application. Companies are creating high performance material, technological solutions, innovative applications, and product developments as per the need of the market.Major applications in wind energy include manufacturing of wind blades, nacelles, rotors, nose cones, and ventilation. Unsaturated polyester resin is one of the most commonly used resins in the industry. Due to a competitive advantage of low price over other resins such as polyurethane, vinyl ester, and epoxy resins, it is preferred in various applications.
Browse through the market data tables, figures and detailed TOC on the “Unsaturated Polyesters Market” - http://www.micromarketmonitor.com/market-report/unsaturated-polyesters-reports-7843025190.html.
Asia Pacific Unsaturated Polyesters Market
The Asia-Pacific unsaturated polyesters market is expected to reach $4,216.6million by 2018, to grow at a CAGR of 7.3% from 2013 to 2018. In terms of global coating additives consumption, APAC is the largest market in the world, followed by North America and Europe, and also one of the most promising markets for unsaturated polyesters, both in terms of production as well as consumption. Availability of cheap raw material and labor, coupled with upcoming domestic demand, enables this market to be the most attractive one for industry participants.
North America Unsaturated Polyesters Market
North America’s unsaturated polyesters market is expected to reach $3,117.6million by 2018, to grow at a CAGR of 6.8% from 2013 to 2018. North America is the second-largest market of unsaturated polyesters after Asia-Pacific globally. In 2013, North America accounted for 32% of the global unsaturated polyesters consumption. This market is driven by end-users in North America, which include the building and construction, marine accessories, land transportation, and energy sectors.
Europe Unsaturated Polyesters Market
The European unsaturated polyesters market is expected to reach $1,766.1 million by 2018, to grow at a CAGR of 6.3% from 2013 to 2018. Europe is the third-largest consumer of unsaturated polyesters after Asia-Pacific and North America. Europe contributes to 19% of the global unsaturated polyesters market. Major countries in Europe that consume unsaturated polyesters are Germany, Italy, and France.
South America Unsaturated Polyesters Market
The unsaturated polyesters market in South America, Middle East and Africa is expected to reach $649.8million by 2018, to grow at a CAGR of 7.0% from 2013 to 2018. South America contributes to a small percentage in terms of global coating additives consumption. The economic downturn in South America has affected the region’s coating additive market, leading to slow volume growth. The reduction in the output of automotive and construction industries in many countries in South and Central America has resulted in decreased demand for coating additives in both industrial and architectural applications. The Middle East and African market is one of the major emerging markets for unsaturated polyesters, both in terms of production as well as consumption, due to a steady recovery from the economic downturn.
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