Global Unsaturated Polyester Resins Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Ongoing R&D in bio-based unsaturated polyester resins is likely to drive market growth as they provide recyclability, superior strength, and thermal & corrosion resistance at lower thicknesses

• A polyester resin is a polymer formed through the polycondensation process of specific polyalcohols and polyacids. Unsaturated Polyester Resin (UPR) is a polyester resin type that can assume a mold's shape once cured. UPR has superior durability and power. With their increased benefits and improved features, UPRs are used in a wide range of sectors. It has a range of physical properties, including high tensile, binding, and impact strength, as well as resistance to heat and corrosion. Composite materials, paints for wood, composite panels, coatings, and color UPRs are used to produce electrical boxes, floor grafts, doors, concrete rebars, forming plates, and building panels.
• The demand for the automotive industry is driven by a combination of factors such as population growth, economic development, changing consumer preferences, and government policies. The adoption of electric vehicles is increasing due to increasing awareness of the impact of greenhouse gas emissions on the environment and the need to reduce the carbon footprint of personal transportation. In addition, governments and regulatory bodies around the world have been offering various incentives and subsidies to promote the adoption of EVs. Unsaturated polyester resins are commonly used in the automotive industry due to their design flexibility, lightweight, low system costs, and mechanical strength. Hence, the demand for unsaturated polyester resins has grown as the automobile industry has expanded, and lighter, more fuel-efficient vehicles have become more popular.
• Moreover, due to its distinctive qualities, including high strength and modulus, capacity to cure at room temperature and high-water resistance, Unsaturated polyester resins are primarily used in the production of fiber-reinforced plastics and filled plastic products such as sanitary ware, tanks & pipes, gratings, and high-performance marines and transportation components and other large glass fiber reinforced plastic articles. The demand for fiber-reinforced plastic (FRP) has increased due to FRP materials being known to be lightweight, strong, and durable, making them a popular choice in various industries such as aerospace, automotive, construction, and marine. The advancements in manufacturing technologies have made it easier and more cost-effective to produce FRP products in large quantities. Additionally, the growing awareness of environmental concerns and the need for sustainable materials has increased interest in FRP as it is recyclable and can help reduce the carbon footprint, creating an opportunity for market growth.
• However, the increasing adoption of substitutes like epoxy resin, vinyl ester, acrylic, polyethylene terephthalate, and nylon because they are available at a low price and easily available resin raw material hinder the market growth. Furthermore, governmental regulations over the safety of the environment and restricting the use of non-renewable resources as an act towards conservation. the UPR are complex materials that consist of a mixture of chemicals, including styrene, polyester, and various additives. This makes it difficult to separate and recycle the different components, further hindering the market growth.

Market Segmentations

• The Global Unsaturated Polyester Resins Market is segmented based on Product Type, End-Users, and Geography.
• Based on Product Type, the market is classified as Orthophthalic Resin, Isophthalic Resin, Dicyclopentadiene (DCPD) Resin, and Others Product Type. Other segments included Gelcoat Resin, Terephthalic Resin, and Chlorendic Resin.
• The Orthophthalic Resin is predicted to hold the largest market share during the forecasting period. It most widely used resin in the marine business. They have a number of qualities, such as toughness, elasticity, chemical, & thermal resistance, and tensile strength. These properties are advantageous in the marine, automotive, construction, and Wind Energy industries, leading to this product's high consumption. It is a fundamental resin that can be used for several applications such as encapsulation, flooring materials, gel coats, filling pastes, pigment pastes, polymer concrete, putties, and tooling.
• Based on End-Users, the market is classified as Building & Construction, Marine, Pipes & Tanks, Electrical & Electronics, Wind Energy, Artificial Stone, and Others. Other segments include Chemical Industry, Gel Coats, Decorative Art, Consumer Goods, Non-Structural Furniture Parts, Healthcare, and Sporting Goods.
• The Building & Construction segment will dominate the market share in the forecasting period due to UPR being widely used for tiles of roofs, concrete forming pans, building panels, reinforcement, bathroom accessories, household structure composites, etc. Infrastructure activities increasing across developing countries are increasing. For instance, China is encouraging a continuous urbanization process, with a projected rate of 70% by 2030. As a result, these factors tend to increase the demand for UPR across the globe.
• Based on regional analysis, the market is classified as Americas, Europe, Middle East and Africa, and Asia-Pacific.
• Asia-Pacific is expected to grow with the highest CAGR in the forecasting period due to major producer and consumer countries, such as China, India, and Japan. It is expected that the growth of the automotive sector in this region will positively impact the demand for unsaturated polyester resins, which find extensive usage in this industry. For instance, the International Organization of Motor Vehicle Manufacturers (OICA) reports that China is the biggest manufacturer of automobiles globally, having produced a staggering 260,822,220 vehicles in 2021. Additionally, Many countries in the region are enhancing the Automotive industry by investing in electric cars to achieve net zero emissions. Positive impact on market growth.

Recent Development

• INEOS Enterprises completed the acquisition of ASHTA Chemicals Inc. from Bigshire Mexico S. de R.L. de C.V. - December 2022
• Scott Bader Pvt Ltd (India) has acquired the commercial business of Satyen Polymers Pvt Ltd. - July 2022

Company Profiles

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxemburg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle-East and Africa (Egypt, Israel, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)
• Competitive Quadrant
• The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Unsaturated Polyester Resins Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Unsaturated Polyester Resins Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.
• Why buy this report?
• The report offers a comprehensive evaluation of the Global Unsaturated Polyester Resins Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
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Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market