Global Unsaturated Polyester Resin Market TOC
Unsaturated Polyester Resin Market size is set to register USD 26.86 billion by the end of 2035, growing at a CAGR of 6.2 % during the forecast period 2023-2035. In the year 2022, the industry size of unsaturated polyester resin was USD 12.31 billion. The market is driven by the growing adoption of liquid foam of unsaturated polyester resin in different verticals. As it is used for the manufacture of fiberglass decks for swimming pools, and other products.
In addition to this, the unsaturated polyester resin market is also expected to grow on account of the rising demand for bio-based resins for the sustainable environment, The government is putting efforts and capital to boost the research and development of bio-based resin and move towards sustainability and recyclability.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
6.2% |
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Base Year Market Size (2022) |
USD 12.31 Billion |
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Forecast Year Market Size (2035) |
USD 26.86 Billion |
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Regional Scope |
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Product {Dicyclopentadiene (DCPD), Orthophthalic, and Isophthalic}
By the end of 2035, the isophthalic segment in the unsaturated polyester resin market is anticipated to garner the largest revenue of USD 10.38 Billion and is further expected to grow at the fastest CAGR of 6.4% during the forecast period. Isophthalic resin is the widely used resin for corrosion-resistant structures. Besides, it is primarily used for the manufacturing of moldings and laminates, which are highly resistant to chemicals and heat, but it can also be used in other areas such as construction materials or exterior decorating. It is, however, most expensive than other types of molding materials and is not easy to handle due to its high styrene content i.e., 42% to 50%.
End User (Building & Construction, Tanks & Pipes, Electrical, Marine, Transport, Paints & Coatings)
The tanks & pipes segment is expected to grow at the fastest CAGR of 7.4% during the upcoming years. Unsaturated polyester resins are used for manufacturing fiber-reinforced plastic (FRP) which is reinforced with glass fiber used for water tanks, septic tanks, tanks, and pipes. In addition, there has been increasing use of tanks and pipes in chemical plants, agriculture, and pipeline construction.
Our in-depth analysis of the global market includes the following segments:
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Product |
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End User |
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APAC Market Forecast
The Asia Pacific unsaturated polyester resin market, amongst the market in all the other regions, is projected to hold the largest market share and account for USD 14.79 Billion by the end of 2035. The region is anticipated to dominate in terms of market size, led by growth in demand for unsaturated polyester resins in the region. The expansion of automotive, and textile industries across Asian countries, especially in India, China, and Japan, is driving demand for unsaturated polyester resins. In March 2023, according to the American Chamber of Commerce in South China (AmCham South China), around 75% of companies planning to reinvest in China’s textile industry.
European Market Statistics
The market in the Europe region is predicted to hold a significant share of USD 4.37 Billion by 2035. With the rapid expansion of several end-use industries and favorable government initiatives, there is an increasing demand for customized formulations that enhance the aesthetic appeal of buildings in Europe, which is expected to boost the sales of unsaturated polyester resin in the future.
Author Credits: Smruti Ranjan, Rajrani Baghel
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