Unsaturated polyester is the base compound of polyester. Polyester resin is made by combining resins or fats with an appropriate amount of binder, if necessary. The fats are usually vegetable oil likely, cottonseed oil, and soybean oil. When mixing resins and fats together, the resulting product is known as a polymeric product or resin. These type of products are generally stable, low-quality, although can be used to create large items such as sails for sailing boats.
Rising demand from the construction sector is expected to drive growth of the global unsaturated polyester resins market. According to the India Brand Equity Foundation (IBEF), India is expected to become the third-largest construction market by 2022, for which India will require an investment work US$ 777.73 billion across infrastructure for sustainable development in the country. Furthermore, the Government of India in its Union Budget (2020-21) announced US$ 13.14 billion for road transport and highway development. Unsaturated polyester resins are mainly used for manufacturing tanks, sanitary ware, pipes, and high-performance components. Hence, such factors are expected to drive growth of the global unsaturated polyester resins market. Furthermore, a rise in demand for composites is expected to propel the global unsaturated polyester resins market growth in the near future.
Stringent regulations by government authorities and price fluctuations of raw materials are expected to hamper the global unsaturated polyester resins market growth in the near future. However, continuous product innovation and untapped potential in emerging markets can offer major business opportunities for market players in the near future. Among regions, Asia Pacific is expected to witness significant growth in the global unsaturated polyester resins market. This is owing to rapid growth of various end-use industries such as electronics, construction, and transport in the region. Besides, favorable policies for foreign direct investments (FDI) are expected to boost the regional market growth in the near future. Furthermore, North America is expected to register a robust growth rate, owing to the robust growth of construction, electronics, and manufacturing industries.
Key players involved in the global unsaturated polyester resins market are AOC Resins, Showa Denko, Ashland, Reichhold, BASF SE, Polynt, Crystic Resins India Pvt. Ltd., Interplastic, Deltech, INEOS, DSM, and IDI Composites International.
For instance, in September 2019, INEOS Enterprises acquired Ashland Global Holdings Inc.’s composite business including the BDO facility in Germany.
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