Major producers of unsaturated polyester resin are expected to push for greater market presence in new markets through investments in R&D for novel product applications through and after the pandemic
ROCKVILLE, MD / ACCESSWIRE / June 22, 2020 / The global unsaturated polyester resin market is projected to expand 1.5x and rise at a healthy 5.3% CAGR, for the projection period 2020 - 2030. Following the coronavirus outbreak in 2019, the applications of unsaturated polyester resins has dropped in the manufacturing sector, owing to major supply chain disruptions. In addition, the sudden slump in new manufacturing orders, and the growing threat of recession are also impacting the market.
As per the study published by Fact.MR, end user verticals such as construction, electrical, marine, and transport will face substantial obstacles throughout the duration of the pandemic. Issues of raw materials and supplies will hurt short term prospects. On the other hand, unsaturated polyester resin applications for marine applications will partially mitigate losses during this period.
"The global manufacturing sector has been taking measures to minimize the impact of the COVID-19 pandemic on regular operations. Declining oil prices, hesitant investors and capital availability issues will remain. The drop in the global economy and the rising production of unsaturated polyester resins by end users on-site will affect demand through 2020," says the FACT.MR study.
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Unsaturated Polyester Resin Market- Critical Takeaways
- Orthopthalic unsaturated polyester resin will remain highly sought after owing to low cost, thermal stability, corrosion resistance, and mechanical characteristics
- PDCPD is gaining traction owing to applications in manufacture of tractors, trucks, buses, and construction equipment
- Building and construction applications will contribute substantially to market revenue owing to wide ranging uses in the sector
- Offshore oil and gas exploration and drilling activities provide remunerative opportunities in the market, with demand for fiber reinforced plastics in the sector
- Asia Pacific followed by North America are the dominant markets for unsaturated polyester resins, driven by growth in construction, marine, transport and electronic industry
Unsaturated Polyester Resin Market- Drivers
- Developments in construction materials and applications in pipe and tank products will drive market growth
- Investments in energy saving, environment friendly products will expand profit pools
- Research on lower thickness, recyclability, corrosion resistance, and physical strength for bio-based resins generate lucrative growth opportunities
- Extensive applications of plastic composites in myriad end use verticals are set to support market developments
Unsaturated Polyester Resin Market- Restraints
- Environmental concerns associated with the production and use of unsaturated polyester resin hinders market growth
- Availability of alternatives such as nylon and epoxy resins limit demand for unsaturated polyester resin
COVID-19 Impact on Unsaturated Polyester Resin Market
The coronavirus outbreak has resulted in major disruptions in the unsaturated polyester resin supply chain, with large scale production cuts, increased costs, and shortages of raw materials. The high reliance of the global industry on Chinese producers has exposed cracks in the industry. In addition, restrictions on imports and exports also hurts market prospects.
Consequently, end users are seeking alternative supply sources within the destination countries to maintain supply chains. Also cost volatility of petroleum products is impacting the market. Recovery is likely to be strong after the outbreak is brought under control, owing to the wide scope of applications for unsaturated polyester resins.
The global unsaturated polyester resin market report includes 193 figures, 74 data tables and a table of contents. You can also find a detailed market segmentation on
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Competitive Landscape
Major unsaturated polyester resin manufacturers are pushing for strategic mergers and acquisitions. Also, major brands are integrating distribution and production processes. For instance, BASF SE has provided Red Avenue Co. a license for the production of unsaturated polyester resin products.
LERG SA, INEOS, Tianhe Resin Co. Ltd., BASF SE, Scott Bader Co. Ltd., Polynt, UPC Group, Koninklijke DSM N.V., U-PICA Co. Ltd., Dow, Eternal Materials Co. Ltd., and Satyen Polymers Pvt. Ltd., are some of the key unsaturated polyester resin producers.
About the Study
The study offers readers an exhaustive market forecast of the unsaturated polyester resin market. Global, regional and national-level analysis of the latest industry trends influencing the unsaturated polyester resin market is covered in this FACT.MR report. The study provides actionable insights on unsaturated polyester resin market according to product (DCPD, Orthopthalic, Isophtalic, and others), and end use (building & construction, tanks & pipes, electrical, marine, transport, artificial stones, and others) across six regions (North America, Latin America, Europe, South Asia & Oceania, East Asia, and MEA).
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SOURCE: FactMR