Unsaturated Polyester Resins Global Market Opportunities and Strategies to 2032

This report describes and explains the unsaturated polyester resins market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region.

The global unsaturated polyester resins market reached a value of nearly $9,669.8 million in 2022, having grown at a compound annual growth rate (CAGR) of 3.1% since 2017. The market is expected to grow from $9,669.8 million in 2022 to $13,280.4 million in 2027 at a rate of 6.6%. The market is then expected to grow at a CAGR of 6.2% from 2027 and reach $17,901.8 million in 2032.

Growth in the historic period resulted from the growth in emerging markets, rapid industrialization, growing chemical industry, and growing construction activities.

Going forward, the growth in the government support, the rising urbanization, the growing automotive industry and the growing demand for fiber-reinforced plastic (FRP) will drive the growth. Factors that could hinder the growth of the unsaturated polyester resins market in the future include the Russia-Ukraine War and the stringent laws and regulations.

The unsaturated polyester resins market is segmented by type into orthophthalic resins, isophthalic resins, dicyclopentadiene, and other types. The orthophthalic resins market was the largest segment of the unsaturated polyester resins market segmented by type, accounting for 38.6% of the total in 2022. Going forward, the isophthalic resins segment is expected to be the fastest growing segment in the unsaturated polyester resins market segmented by type, at a CAGR of 6.8% during 2022-2027.

The unsaturated polyester resins market is segmented by form into liquid form and powder form. The liquid form market was the largest segment of the unsaturated polyester resins market segmented by form, accounting for 71.3% of the total in 2022. Going forward, the powder form segment is expected to be the fastest growing segment in the unsaturated polyester resins market segmented by form, at a CAGR of 6.8% during 2022-2027.

The unsaturated polyester resins market is segmented by end-user into building and construction, automotive, marine, pipes, ducts and tanks, wind energy, electrical and electronics, and other end-users. The building and construction market was the largest segment of the unsaturated polyester resins market segmented by end-user, accounting for 26.3% of the total in 2022. Going forward, the wind energy segment is expected to be the fastest growing segment in the unsaturated polyester resins market segmented by end-user, at a CAGR of 7.2% during 2022-2027.

Asia Pacific was the largest region in the unsaturated polyester resins market, accounting for 39.8% of the total in 2022. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the unsaturated polyester resins market will be Asia-Pacific and North America where growth will be at CAGRs of 7.7% and 7.2% respectively. These will be followed by Western Europe and Eastern Europe where the markets are expected to grow at CAGRs of 5.4% and 3.9% respectively.

The unsaturated polyester resins market is concentrated, with a large number of small players. The top ten competitors in the market made up to 41.06% of the total market in 2021. DOW Inc. was the largest competitor with 12.11% share of the market, followed by BASF SE with 8.08%, INEOS Group Holdings S.A. with 4.90%, SABIC with 4.40%, UPC Technology Corporation with 3.74%, Eternal Materials Co Ltd with 3.62%, Polynt Group S.A.R.L. with 1.70%, Mitsubishi Gas Chemical Company, Inc. with 1.41%, DIC Corporation with 0.84%, and Scott Bader Company Ltd with 0.28%.

The top opportunities in the unsaturated polyester resins market segmented by type will arise in the orthophthalic resins segment, which will gain $1,397.5 million of global annual sales by 2027. The top opportunities in the unsaturated polyester resins market segmented by form will arise in the liquid form segment, which will gain $2,534.7 million of global annual sales by 2027. The top opportunities in the unsaturated polyester resins market segmented by end user will arise in the building and construction segment, which will gain $872.0 million of global annual sales by 2027. The unsaturated polyester resins market size will gain the most in China at $918.4 million.

Market-trend-based strategies for the unsaturated polyester resins market include focusing on bio-based UPRs to develop monomer-free unsaturated polyester resins, focusing on new plant expansions, focusing on product innovations and focusing on partnerships and collaborations.

Player-adopted strategies in the unsaturated polyester resins market include expanding their production capabilities by setting up new production units and strategic acquisitions.

To take advantage of the opportunities, the publisher recommends the unsaturated polyester resins companies to focus on bio-based unsaturated polyester resins, focus on product innovations, focus on new plant expansions, expand in emerging markets, continue to focus on developed markets, focus on partnerships and collaborations, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions, continue to target fast-growing end-users and focus on the urban population.