NEW YORK, March 23, 2021 /PRNewswire/ -- Booming infrastructure and adoption in automotive industry will be a strong focus area for unsaturated polyester resin (UPR) manufacturers in 2021 and beyond, opines the latest study by Fact.MR. According to the report, the market will exhibit a steady growth at 5.3% CAGR through 2030. Steady recovery and increasing demand from the end-users will support the growth of UPR market.
The latest edition of UPR market by Fact.MR finds that the consistent demand from the marine, construction and automotive industries to spur the sales of unsaturated polyester resin. Application in building & construction industry accounts for the major market share backed by the increased demand for anti-corrosive elements from the manufacturers. Significant application of UPR in manufacturing high quality bathroom fittings, followed by increased isophthalic UPR adoption to bolster the demand of unsaturated polyester resin. Hence fostering the sales.
"Rising adoption of UPR in automotive and construction industry for the application in electric automotive and high demand for anti-corrosive elements is accelerating the sales for UPR. Automotive manufacturers need for high performance component and increased need to manufacture anti-corrosive tanks and fiberglass coatings, to stimulate UPR sales," says a Fact.MR analyst.
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Application of dicyclopentadiene unsaturated polyester (DCPD) to grow backed by expanding marine industries.
Isophthalic product type to expand at nearly 6.5% CAGR
Building & construction to be the most lucrative end-user, accounting 26% of market share
Transport end-use to be the most remunerative with an impressive 7.2% CAGR through 2030
Exponentially increased investment in construction industry, China to be the largest consumer of unsaturated polyester resins
Government initiatives such as 'Make in India' and favorable foreign direct investment to aid UPR sales in India
Countries such as Indonesia, Singapore and Malaysia to accelerate UPR sales in South Asia & Oceania
BASF SE, Reichhold Inc., INEOS, Polynt, Koninklijke DSM N.V., U-PICA Company Ltd., Eternal Materials Co. Ltd., Satyen Polymers Pvt. Ltd., Dow Chemical, UPC Group, Scott Bader Company Ltd., Tianhe Resin Co., Ltd., and LERG SA among others are some of the prominent manufacturers, profiled by Fact.MR. Key players are focusing on developing sustainable solution and collaboration as key strategies for future growth prospects.
In January 2021, INEOS acquired BP's global Aromatics & Acetyls Business for a consideration of US$ 5 billion, of 15 sites across the world; 5 in United States, 2 in Europe and 8 in Asia, to establish its strong footprint across the globe in 10 leading joint ventures.
Likewise, in March 2021, BASF SE collaborated with Great Wall Motors to unveil its revamped models of its premium brand WEY based on BASF's innovative high-performance material solutions, to materialize the customized solutions and intelligent technology of future mobility envisioned by Great Wall.
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More Valuable Insights on Unsaturated polyester resin Market
Fact.MR, in its latest report, presents a detailed analysis of the global unsaturated polyester resin market. The study divulges essential insights on the unsaturated polyester resin market on the basis of product (DCPD, orthophthalic, isophthalic, and others), end-use (building & construction, tanks & pipes, electrical, marine, transport, artificial stones, and others), and region (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA)
Key Questions Covered in the Report
What will be the future outlook for the market?
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What is the impact of COVID-19 on unsaturated polyester resin market?
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