(MENAFN- The Express Wire) Extensive Use across Numerous Industries Boosts Global Unsaturated Polyester Resins Market
Posted on Nov 13 2019 11:32 AM
"Unsaturated Polyester Resins Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022
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The global unsaturated polyester resins market is likely to experience robust growth, thanks to its growing use in multiple applications across various industries. Extremely flexible and low cost of unsaturated polyester resins rendered it fit for use in industries like Pipe re-lining, Artificial Stone and Marble, Electrical, Pipes, Resins, and others.
Some of the key market participants of the globalunsaturated polyester resins marketcomprise Polynt-Reichhold Group, UPC Technology Corp., Scott Bader Company Ltd., U-Pica Company Ltd., and Nuplex Industries Ltd.
The report titled global unsaturated polyester resins market has been prepared by Transparency Market Research (TMR). Analyst of TMR predicts that the market is likely to exhibit a growth rate of 5% CAGR during the assessment period, from 2017 to 2022. Riding high on the back of various growth factors, the market is estimated to reach a valuation of US$7,339.9 Mn through 2022.
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Asia Pacific and North America Emerge as Leading Regional Segments during the Assessment Period
North America, Europe, Middle East and Africa, Asia Pacific, and South America comprise the primary regional segments of the global unsaturated polyester resins market.
From the regional standpoint, Asia Pacific is likely to be one of the leading regional markets, thanks to the expansion of the chemical and construction industries countries like China and India. The governments of these two countries have increased spending on infrastructure for the promotion of construction activities. This factor is likely to fuel growth of the unsaturated polyester resins market in Asia Pacific region.
In addition to large-scale construction activities, the region is also witnessing accelerated demand for heavy vehicles, leading to increased production activities in the region. Use of unsaturated polyester resins in the heavy vehicle industry will add impetus to the regional unsaturated polyester resins market.
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Expansion of marine industry in Asia Pacific region is another growth factor forecasted to trigger the growth of the market. Increased emphasis on the development of waterways as a mode of transport and a defense front are further augmenting market growth.
North America is also anticipated to hold a large chunk of the global unsaturated polyester resins market owing to the expansion of electrical and marine industries. However, Europe is likely to exhibit sluggish growth rate owing to strict implementation of stringent rules and regulations pertaining to the use of styrene monomer in polyester resins.
Rapid Expansion of Construction Industry to Accelerate Demand for the Compound
The global unsaturated polyester resin market is likely to gain momentum from a number of applications in the construction industry worldwide. Unsaturated polyester resin is considered as a significant polymer for the making of composite materials, particularly casting resins (non-reinforced) and glass fiberreinforced plastics. Glass fiberreinforced plastics are used mainly in the land transportation, marine, and construction industries. Whereas, non-reinforced cross-linked unsaturated polyester resin is used in the making of a wide variety of cultured marble. This compound is lightweight, flexible, and exhibit high resistance against corrosion, as such it is a highly preferred material in the construction industry.
Dicyclopentadiene (DCPD) resins, orthophthalic resins, and isophthalic resins comprise the major product type of the global unsaturated polyester resin market. Isophthalic resins accounted for lion's share of the market in 2017 and the segment is likely to continue with its dominance during the assessment period. Isophthalic resins are increasingly being used in the fiberglass industry, which needs highly flexible products with extremely high strength and chemical resistance.
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