Unsaturated Polyester Resins Market to experience an impressive growth of 6.2% during 2020-2025
January 31, 2020
Unsaturated polyester resins market is likely to witness an impressive CAGR of 6.2% during the forecast period. The market for unsaturated polyester resins is lucrative with the rising demand from manufacturing industries of boat and ship building, wind blades, electrical & electronics, windmills, automotive applications, and sanitary ware.
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Unsaturated Polyester Resins Market Segment Insights:
By Type:
Based on the type, the market has been segmented as orthophthalic resins, isophthalic resins, dicyclopentadiene (DCPD) resins, and others. It is estimated that orthophthalic resins would lead the market in the coming five years, owing to their rich properties, such as cost-effectiveness, durability, and chemical tolerance. They are extensively used in manufacturing of hulls and decks of boats, wind blades, and land transportation components which drive the market globally.
By End-Use Industry Type
Based on the end-use industry type, the market is segmented as building & construction, land transportation, pipes & tanks, electrical & electronics, wind energy, artificial stones, and others. The building & construction segment is estimated to lead the market during the forecast period. This unprecedented growth is attributed to the rising demand for infrastructural developments in the emerging economies.
By Region:
In terms of regions, Asia-Pacific is expected to remain the largest market for unsaturated polyester resins in the coming five years, by value and volume. China and India will be the growth engines of the region. The market is driven by the increasing demand for infrastructural developments during the forecast period. North America is also expected to be the largest market in the coming five years.
Key Players:
Some of the unsaturated polyester resin manufacturers are Reichhold Inc., Ashland Inc., Koninklijke DSM N.V., Polynt Group, Aoc LLC, BASF SE, U-Pica Company Ltd., UPC Technology Corp., Nuplex Industries Ltd., and Scott Bader Company Ltd.
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