Global Unsaturated Polyester Resins Market Size By Type (Ortho phthalic Resins, Isophthalic Resins), By End User Industry (Building & Construction, Tanks and Pipes), By Geographic Scope And Forecast

Unsaturated Polyester Resins Market Size And Forecast

Unsaturated Polyester Resins Market size was valued at USD 10.61 Billion in 2024 and is projected to reach USD 17.83 Billion by 2031, growing at a CAGR of 6.70% from 2024 to 2031.

• Unsaturated polyester resins (UPRs) are a versatile liquid plastic that cures into a robust and durable solid. Imagine them as a moldable liquid that, when cured, solidifies into a permanent shape. They achieve this transition by reacting with another component known as a hardener.
• This signifies that they have carbon-carbon double bonds inside their molecular structure. These double bonds function like tiny hooks, ready to connect with other molecules under the correct conditions. This bonding process is triggered by the hardener, which is commonly an organic peroxide. The resin molecules’ double bonds interconnect with the hardener molecules to form a robust, three-dimensional network. This network is what gives the cured UPR its stiffness and long-term shape.
• The versatility of unsaturated polyester resins is what makes them so remarkable. Manufacturers can tune UPR characteristics by integrating different starting ingredients and altering the curing procedure. This enables them to be designed for a variety of purposes, including lightweight yet sturdy boat hulls, resistant surfaces, and even delicate decorative pieces.

Global Unsaturated Polyester Resins Market Dynamics

The key market dynamics that are shaping the global unsaturated polyester resins market include

Key Market Drivers

• Growing End-Use Industry DemandUPRs are in high demand across diverse industries such as aerospace, automotive, and construction, driven by infrastructure projects, expanding construction sector, and lightweight material needs in transportation.
• Lightweight and High-Strength MaterialsUPRs are favored for their lightweight and high-strength properties, making them ideal for composite materials used in automotive, wind turbine, and aerospace components, aligning with sustainability goals and performance optimization in the automotive industry.
• Growing Need for Renewable Energy Sources The rise of renewable energy sources like solar and wind power is driving UPR demand for applications in solar panels and wind turbine blades, benefiting from UPRs’ weather ability, corrosion resistance, and durability.
• Growing Urbanization Urbanization and infrastructure development projects are fueling the need for UPR-based products in various applications, with their cost-effectiveness, processing simplicity, and adaptability meeting diverse project requirements.
• Emerging Uses for Additive Manufacturing Additive manufacturing presents new opportunities for UPRs, enabling the production of complex parts with superior mechanical properties and design flexibility, expanding UPR market applications in 3D printing technologies like DLP, FDM, and SLA.

Key Challenges

• Price Fluctuations Price fluctuations in raw materials such as styrene, maleic anhydride, crucial for UPR production, can significantly impact manufacturing costs, influenced by factors like feedstock availability, crude oil prices, and geopolitical tensions. Such volatility poses challenges to maintaining profit margins and pricing competitiveness for UPR manufacturers.
• Environmental Concern Environmental and health concerns arise from the hazardous nature of key UPR ingredient styrene, posing risks to both human health and the environment, particularly in terms of air and water pollution. Regulatory measures aimed at reducing styrene emissions and enforcing safety standards may constrain production capacity and increase compliance costs for UPR manufacturers.
• Competition Competitive pressure from alternative materials like polyurethane, vinyl ester, and epoxy resins presents a challenge for UPRs, as end-users select resins based on criteria such as cost-effectiveness, mechanical properties, chemical resistance, and processing requirements. Fierce competition from substitute materials, especially in specialized applications, may hinder UPR market growth.
• Circular Economy PracticesLimited recycling and circular economy practices hinder the sustainability goals of the UPR sector, with UPR-based composites facing challenges in recycling due to contamination, material degradation, and inadequate recycling methods. The low recycling infrastructure and high costs further impede progress towards a circular economy for UPRs.
• Capital-Intensive ProductionProlonged lead times and capital-intensive production processes characterize UPR manufacturing, requiring significant investments in specialized equipment, regulatory permits, and production capacity expansion. Entry barriers, including high upfront costs and limited access to funding, may impede market growth and competition for small-to-medium-sized businesses and new entrants in the UPR industry.

Key Trends

• The Shift Towards Electric VehiclesThe automotive sector is creating a significant demand for polyester resins, owing to their lightweight nature and corrosion resistance, making them ideal for various EV components. This utilization enhances the efficiency and performance of EVs, presenting substantial opportunities for polyester resin applications.
• Growth Prospects in Emerging EconomiesEmerging economies are directing investments towards infrastructural development and long-term construction projects, representing the largest industry for UPR. Countries such as China, India, Brazil, and those in the Middle East are expected to ramp up spending in the infrastructure sector.
• Versatility and Flexibility Unsaturated polyester resins (UPRs) are highly regarded for their capacity to be reinforced with fibers and blended with fillers, enabling the production of composite materials tailored to precise requirements. This adaptability empowers them to address a wide array of application demands across various industries.

Global Unsaturated Polyester Resins Market Regional Analysis

Here is a more detailed regional analysis of the global unsaturated polyester resins market

Asia-Pacific

• APAC has emerged as a prominent producer and consumer of unsaturated polyester resin. In India, factors such as low-cost labor and government initiatives like Make in India, along with proposed schemes for entrepreneurship development, are expected to create opportunities in the industrial and infrastructure sectors.
• China, a rapidly advancing nation, boasts abundant raw materials, cost-effective production, and access to local emerging markets, driving demand across various industries.
• However, the onset of the COVID-19 pandemic in early 2020 in China, followed by its spread to other Asian countries like Japan, India, South Korea, and Thailand, resulted in a surge in positive cases and fatalities.
• Consequently, governments in the APAC region imposed lockdown measures, leading to reduced traffic and temporary closures of construction, mining, and manufacturing activities.

North America

• North America’s growth trajectory is primarily fueled by advancements in the construction, electronics, and manufacturing sectors.
• Unsaturated polyester resin (UPR) and UPR-based composites find extensive applications in construction, as well as in the fabrication of various products such as tanks and pipes.
• The region’s construction industry is witnessing a notable recovery, driven by heightened demand for non-residential construction projects including hospitals, schools, and colleges.
• This resurgence in construction activities is poised to have a positive influence on the North American market throughout the forecast period, bolstering the demand for UPR and its derivatives.

Global Unsaturated Polyester Resins Market Segmentation Analysis

The Global Unsaturated Polyester Resins Market is Segmented on the basis of Type, End User Industry, And Geography.

Unsaturated Polyester Resins Market, By Type

• Orthophthalic Resins
• Isophthalic Resins
• Resins of Dicyclopentadiene (DCPD
• Other Resins

Based on Type, the market is bifurcated into Ortho Phthalic Resins, Isophthalic Resins, Resins of Dicyclopentadiene (DCPD), and Other Resins. Currently, Ortho phthalic resins hold a dominant position due to their widespread usage across multiple industries. However, isophthalic resins are emerging as the fastest-growing segment. Isophthalic resins offer enhanced performance characteristics, including improved strength, corrosion resistance, and durability, making them increasingly preferred in demanding applications such as marine, automotive, and construction.

Unsaturated Polyester Resins Market, By End User Industry

• Building & Construction
• Tanks and Pipes
• Electrical and Electronics
• Marine
• Transportation
• Artificial Stones
• Wind Energy

Based on Application, the market is segmented into Building & Construction, Tanks and Pipes, Electrical and Electronics, Marine, Transportation, Artificial Stones, and Wind Energy. The leading application for unsaturated polyester resins (UPRs) is likely Building & Construction. This sector utilizes UPRs for various purposes like roofing sheets all panels, and building components due to their Lightweight nature for easier construction Strength and durability, and Corrosion resistance. However, the fastest-growing application segment is expected to be Wind Energy. The growing focus on renewable energy is driving the demand for wind turbine blades, which often incorporate UPRs for their high strength-to-weight ratio for withstanding wind loads, Dimensional stability for maintaining blade shape, and Versatility in tailoring UPR properties for specific wind turbine needs.

By Geography

• North America
• Europe
• Asia-Pacific
• Rest of the World

On the basis of regional analysis, the Global Unsaturated Polyester Resins Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Asian Pacific emerged as a prominent producer and consumer of unsaturated polyester resin. North America has historically been an economic powerhouse, boasting large economies, established infrastructure, and strong technological advancements.

Key Players

The “Global Unsaturated Polyester Resins Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Royal DSM, BASF SE, INEOS Group, Polynt S.p.A., AOC LLC, U-PICA Company Ltd., Eternal Materials Co., Ltd., Satyen Polymers Pvt. Ltd., Dow Inc., Scott Bader Company Ltd., Tianhe Resin Co., Ltd.

Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.

Unsaturated Polyester Resins Market Recent Developments

• In December 2022, INEOS Enterprises acquired ASHTA Chemicals Inc from Bigshire Mexico S. de R.L. de C.V. The transaction includes a 100 ktpa potassium hydroxide (KOH)/65 kt chlorine facility.
• In July 2022, Scott Bader Pvt Ltd (India) bought Satyen Polymers Pvt Ltd’s commercial operation, which included the selling of all resin and gelcoat products. This strategic acquisition will broaden the product portfolio by introducing industry-leading adhesives and composites to the Indian market.
• In July 2021, Schill+Seilacher GmbH, a German Chemical Industries Association, developed a bio-based replacement for petrochemical-based unsaturated polyester resins.
• In August 2021, Helios Resins, a European resins producer, received ISCC (International Sustainability and Carbon Certification) for producing a wide range of unsaturated polyester resins.

Report Scope

Research Methodology of Market Research

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well