New report on Unsaturated Polyester Resins are chemicals manufactured by condensation reaction between acids such as Phthalic Anhydride, Maleic Anhydride, Isophthalic Acid and glycols such as Mono-ethylene Glycol, Propylene Glycol, and Di-ethylene Glycol. This chemical is used in varied industries such as electrical, marine, transport, construction and many more. Lifestyle changes, increasing urbanization and growth in the construction industry are key factors driving this market. Rising demand for pipes and tanks to store chemicals is another crucial factor that is influencing the market. Raw material utilized in manufacturing of unsaturated polyester resin is growing in cost and this is hindering the manufacturing cost, thus limiting the growth of the market. Environmental regulations are other crucial factors restricting growth. Application of unsaturated polyester resin in fiberglass manufacturing is further creating opportunities for application of this chemical.
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Based on products, global unsaturated polyester market is segmented into Orthopthalic, Isopthalic, DCPD, and Others. At present, Orthopthalic products are used in a large scale; therefore, it dominates the product market. It holds about one third of the product market share in the current market scenario. The demand for this product is expected to remain constant during the forecast period due to its versatility and favorable characteristics that makes it suitable for various applications. On the other hand, DCPD products will grow speedily during the forecast period due to increasing application of the same in varied industries.
The application market is segmented into building and construction electrical, tanks and pipes, transport, marine, artificial stones and others. In the current business scenario, building and construction has a hold on the largest fragment of the market and is the leading application segment. Extensive use of polyester resin in concrete, composites, roofing and reinforcements is the major driving force for the application of this chemical in construction industry.
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MARKET BY PRODUCT TYPE
MARKET BY APPLICATION
- Building and Construction Electrical
- Tanks and pipes
- Artificial stones
MARKET BY GEOGRAPHY
- North America
- Asia Pacific
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