Unsaturated Polyester Resin Market Size, Share & Trends Analysis Report By Product, By End Use, By Region And Segment Forecasts, 2020 - 2027
NEW YORK, April 6, 2020 /PRNewswire/ -- Unsaturated Polyester Resin Market Size, Share & Trends Analysis Report By Product (DCPD, Orthophthalic, Isophthalic), By End Use (Building & Construction, Electrical, Marine), By Region, And Segment Forecasts, 2020 - 2027
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The global unsaturated polyester resin market size is anticipated to reach USD 18.9 billion by 2027, expanding at a CAGR of 6.3%. Developments in the building and construction and tank and pipes are likely to drive the demand for the isophthalic in these end-use segments. Increasing use of environment-friendly and energy saving products is also expected to influence the market, positively.
Favorable government regulations and initiatives to develop the infrastructure, such as the provisions for subsidy, increasing foreign investments and trade promotion are projected to augment product demand over the forecast period. Some of the initiatives are LaGuardia and O'Hare airport construction project in U.S., Beijing Airport expansion in China, and Make in India initiative by the government of India.
Increased demand for the products which are capable of working in high-temperatures and corrosive environment is anticipated to foster usage in the building and construction end-use industry.Unsaturated polyester resin (UPR) composite has enabled consumers to pick end-use specific product from a wide range of options.
The widening of product distribution channels has also made these products readily available to the users, thus acting as a driving force for the growth of the market for UPR.
Further key findings from the repot suggest:
• Orthophthalic occupied the largest revenue share on account of its higher price and increasing usage in construction, electronics, and automotive sectors
• DCPD emerged as the fastest growing product segment in Europe and North America as it exhibits properties such as high deflection temperature, high resistance to chemical corrosion, and high impact resistance
• Rising demand for environment-friendly and energy saving products and solutions is expected to drive the unsaturated polyester resin (UPR) market
• The marine end-use segment is projected to exhibit the highest CAGR over forecast period
• Stringent environmental rules and regulations and focus on indoor air quality is anticipated to drive the market
• Increasing investment from government and private institutions in the building and construction sector is projected to contribute to the demand for these resins
• Key players include INEOS, BASF SE, Polynt, Koninklijke DSM N.V., U-PICA Company. Ltd., Eternal Materials Co., Ltd., Satyen Polymers Pvt. Ltd., Dow, UPC Group, Scott Bader Company Ltd., Tianhe Resin Co., Ltd., and LERG SA.
Read the full report: https://www.reportlinker.com/p05879613/?utm_source=PRN
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