Unsaturated Polyester Resin (UPR) Market Size (2024 - 2029)

The unsaturated polyester resin market is projected to experience steady growth, driven by the increasing production of glass fiber-reinforced plastics and advancements in hydro and ice-phobic properties. Despite challenges posed by a decline in the automotive sector, the market has rebounded to pre-pandemic levels and is expected to expand, particularly in the Asia-Pacific region, which is anticipated to be the fastest-growing area due to rising demand in countries like China, India, and Japan.

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Market Size of Unsaturated Polyester Resin (UPR) Industry

Unsaturated Polyester Resin (UPR) Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 5.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Unsaturated Polyester Resin (UPR) Market Major Players

*Disclaimer: Major Players sorted in no particular order

Unsaturated Polyester Resin (UPR) Market Analysis

The unsaturated polyester resin (UPR) market is expected to register a CAGR of less than 5% during the forecast period.

COVID-19 negatively impacted the market in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is forecasted to grow steadily.

  • The growing production of glass fiber-reinforced plastics (GRP) in Europe and the desirable properties of unsaturated polyester resins are expected to fuel market expansion over the projection period.
  • However, a decline in the automotive industry is expected to hinder the market growth.
  • Advancements in hydro and ice-phobic property induction methodologies of UPR are the key market opportunity expected to drive the market in the coming years.
  • The Asia-Pacific region represents the largest market and is expected to be the fastest-growing market over the forecast period due to increasing consumption from countries such as China, India, and Japan.

Unsaturated Polyester Resin (UPR) Industry Segmentation

Unsaturated polyester resins are available in many forms and offer several desirable properties, making them an ideal matrix material for several composites. Their properties include low shrinkage, corrosion resistance, low water absorption, and low volatility. The unsaturated polyester resins (UPR) market is segmented by type, end-user industry, and geography. The market is segmented by type: ortho-resins, iso-resins, dicyclopentadiene, and other types. By end-user industry, the market is segmented into building and construction, chemical, electrical and electronics, paints and coatings, transportation, and other end-user industries. The report also covers the market size and forecasts for the market in 15 countries across the globe. For each segment, the market sizing and forecasts have been done on the basis of value (USD million).

Type
Ortho-resins
Isoresins
Dicyclopentadiene (DCPD)
Other Types
End-user Industry
Building and Construction
Chemical
Electrical and Electronics
Paints and Coatings
Transportation
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Unsaturated Polyester Resin (UPR) Market Size Summary

The unsaturated polyester resin (UPR) market is poised for steady growth, driven by the increasing production of glass fiber-reinforced plastics (GRP) and the expanding building and construction sector globally. Despite the initial setbacks due to the COVID-19 pandemic, the market has rebounded to pre-pandemic levels. The Asia-Pacific region, particularly countries like China, India, and Japan, is expected to lead the market due to its robust demand in construction and automotive industries. The desirable properties of UPR, such as its application in tiles, building panels, and household structure composites, contribute to its widespread use in the construction sector. Additionally, advancements in hydro and ice-phobic property induction methodologies present new opportunities for market expansion.

The market landscape is characterized by fragmentation, with key players like AOC, Polynt-Reichhold Group, INEOS, Scott Bader Company Ltd., and Xinyang Technology Group actively participating. Strategic acquisitions, such as INEOS Enterprises' acquisition of ASHTA Chemicals Inc. and Scott Bader Pvt Ltd's acquisition of Satyen Polymers Pvt Ltd, are indicative of the competitive dynamics and efforts to expand product offerings. The building and construction sector's rapid expansion, particularly in Asia-Pacific, coupled with the ongoing development of chemical and pharmaceutical projects, is expected to sustain the demand for UPR. However, challenges such as the decline in the automotive industry may pose hurdles to market growth.

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Unsaturated Polyester Resin (UPR) Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Demand for Manufacturing Glass Fiber-reinforced Plastics (GRP) in Europe

      2. 1.1.2 Desirable Properties of Unsaturated Polyester Resins

    2. 1.2 Restraints

      1. 1.2.1 Challenges in Automotive Industry

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Type

      1. 2.1.1 Ortho-resins

      2. 2.1.2 Isoresins

      3. 2.1.3 Dicyclopentadiene (DCPD)

      4. 2.1.4 Other Types

    2. 2.2 End-user Industry

      1. 2.2.1 Building and Construction

      2. 2.2.2 Chemical

      3. 2.2.3 Electrical and Electronics

      4. 2.2.4 Paints and Coatings

      5. 2.2.5 Transportation

      6. 2.2.6 Other End-user Industries

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Unsaturated Polyester Resin (UPR) Market Size FAQs

The Unsaturated Polyester Resin (UPR) Market is projected to register a CAGR of less than 5% during the forecast period (2024-2029)

INEOS, Scott Bader Company Ltd., Xinyang Technology Group , AOC and Polynt-Reichhold Group are the major companies operating in the Unsaturated Polyester Resin (UPR) Market.

Unsaturated Polyester Resin Market Report Snapshots

Unsaturated Polyester Resin Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)