(PRWEB) July 03, 2014
The global unsaturated polyester resin (UPR) market is lined up for high growth and huge demand from emerging economies over the next five years. UPR has widened its market by introducing bio-resins, which are manufactured by renewable sources such as corn, soybean oil, sugar, and glycerine.
The global unsaturated polyester resin market is widespread with intense growth lined up for large scale development and socio-economical advancements. These are widely used thermosetting resins with better product performance compared to other resins such as epoxy, vinyl ester, acrylics, amides, and alkyd resins. Their growth is derived from factors, such as their relative ease of manufacture, cost effectiveness, ease of processing for conversion into a finished product, and their ability to get readily modified for specific use.
Global demand for UPR is increasing rapidly with growth in Orthophthalic polyester resin, which holds major market share.
The thermoset resins market is dominated by unsaturated polyester resins, due to their wide range of products for various applications across the industry. It is mainly due to its price advantage against epoxy and vinyl ester resin, which costs high and can only be used in specific applications.
The overall global demand was 2,919 thousand tons in 2013, and is expected to reach 3,950 thousand tons by 2018 with CAGR of 6.2%.
Browse through the market data tables, figures and detailed ToC on the “Global Unsaturated Polyester Resin Market.”
Asia-Pacific Unsaturated Polyesters Market
The demand for unsaturated polyester resin in Asia-Pacific is majorly driven by China. This is due to China’s hefty investment in building and construction, owing to huge demand for fiberglass reinforced plastic products.
Asia-Pacific UPR industry is growing with the highest CAGR globally. Primary reason for this growth is the huge population resulting in more infrastructural requirements. The developing countries such as India, Malaysia, Indonesia, and South Korea are investing in building and construction projects, wind energy, marine, and electrical and electronics applications.
Huaxun Industry and New solar Co. Ltd are the largest manufacturers of unsaturated polyester resin in this region.
North America Unsaturated Polyesters Market
North America is one of the dominating regions for unsaturated polyester resin demand globally accounting for 60% of the market share in 2012. North American market for unsaturated polyester resins has a moderate growth owing to the maturity level of resin products in building and construction projects. The U.S. holds the largest share of the UPR market in North America, with most of the key players situated in the country.
The major unsaturated polyester resin companies in the U.S., Ashland Inc., Reichhold Inc., AOC LLC, and CCP composites dominate the resins market with their global presence.
Within the North American region, building and construction holds the largest share of the applications segment followed by electrical and electronics as the second and pipes and tanks as the third-largest industries in the North American unsaturated polyester resin market.
Europe Unsaturated Polyesters Market
Unsaturated polyester resin products have been commercialized in Europe for over two decades now. This region experiences a developed market for unsaturated polyester resin, and is expected to grow moderately over the next few years. Royal DSM is the market leader in the European region. Scott Bader and BASF with other local manufacturers compete with Royal DSM in Europe, with their wide applications and products.
European UPR market is segmented across major countries including Germany, France, Italy, U.K., Spain, Sweden, and Poland. Germany holds the top position CAGR of 6.7% across the European region.
South America, Africa, Middle East Unsaturated Polyesters Market
The South America and Middle East regions are growing rapidly in unsaturated polyester resin applications and products. These countries invest in industries, such as building and construction, marine, wind energy, electrical and electronics, and automotive and transportation
Wind energy applications, which use composites based unsaturated polyester resins, is expected to be the driver for this UPR market growth in future. Recently LM Wind Power constructed a new blade manufacturing facility in Brazil, for their South America regional demand in wind energy applications
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