The global Unsaturated Polyester Resins Market is estimated to be valued at US$ 14007.68 Mn in 2023 and is expected to exhibit a CAGR of 39% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:-
Unsaturated polyester resins are thermosetting polymers that form durable and lightweight materials when mixed with reinforcements like fiberglass or fillers. They offer excellent chemical resistance, good surface finish and can be used for a variety of applications like building and construction, marine, transportation, electrical and power, pipes and tanks.
Market key trends:-
3D printing filaments is one of the fastest growing application of unsaturated polyester resins. 3D printing filaments made from unsaturated polyester resins offer high strength, superior surface finish and chemical resistance. They exhibit enhanced dimensional stability and heat resistance compared to other 3D printing materials like PLA and ABS. This makes them ideal for producing functional prototypes, end-use parts and tools for harsh chemical environments in industries like automotive, healthcare and consumer goods. The development of advanced resins specifically engineered for 3D printing as well as multi-material 3D printing technologies is expected to further drive the demand of unsaturated polyester resin filaments.
Segment Analysis:-
The global Unsaturated polyester resins market is dominated by unsaturated polyester resin segment. Unsaturated polyester resins finds wide applications in industries such as construction, transportation, marine, wind energy and others owing to desirable properties such as corrosion resistance, durability and flexibility. They are widely used in manufacturing of pipes, road markings, storage tanks, sanitary ware and manufacturing of FRP (fiber reinforced plastic) composites. Growing construction activities across the globe is the prime factor driving demand for unsaturated polyester resins.
Key Takeaways:-
The Global Unsaturated Polyester Resins Market Size is expected to witness high growth, exhibiting 39% CAGR over the forecast period, due to increasing demand from construction and transportation industries.
Regional analysis – Asia Pacific region dominates the global unsaturated polyester resins market and is projected to witness the fastest growth during the forecast period. This is attributed to the rising construction activities in China, India and other Asian countries.
Key players – Key players operating in the Unsaturated Polyester Resins market are AOC Resins, Ashland Inc., BASF SE, CCP Composites, Changzhou New Solar Co. Ltd., DSM, DuPont, Lanxess AG, Eternal Chemical Co. Ltd., Reichhold Inc., SABIC Innovative Plastics Holding BV, and Satyen Polymers Pvt. Ltd. BASF SE is currently the global leader in production of unsaturated polyester resins.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it