Thesteady rise in growth opportunities in the field of unsaturatedpolyester resins has led to the influx of several newplayers in the market in the past few years, leading to a significant rise inthe intensity of competition in the market, observes Transparency MarketResearch in a recent report. Rising demand from a number of new applicationsand industries across emerging economies has compelled companies to focus onstrategic collaborations with prominent companies operating in regionalpockets. Companies are also focusing on R&D activities aimed at thedevelopment of products capable of superior recycling and processingcapabilities.
Some of theleading companies in the market are U-Pica Company Ltd., Nuplex IndustriesLtd., BASF SE, Royal DSM, and Polynt-Reichhold Group.
Accordingto the report, the global unsaturated polyester resin market is expected toexhibit a 5% CAGR over the period between 2017 and 2022, rising from avaluation of US$5,744.3 mn in 2017 to a revenue opportunity of US$7,339.9 mn by2022.
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Asia Pacific to Remain MostLucrative Regional Market
Of theprominent products in the global unsaturated polyester resins market, thesegment of isophthalic resins accounted for the dominant share in the overallmarket in 2017 and is expected to account for a significant share of the marketover the forecast period as well. The high preference to the product variety incomposites or fiber glass industries can be attributed to the excellentflexibility, better chemical resistance, and high strength.
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Geographically,the market in Asia Pacific excluding Japan accounts for the dominant share inthe overall market. The region is also expected to emerge as the regionalmarket with the most promising growth opportunities over the report’s forecastperiod, exhibiting a 5.3% CAGR and rising to a valuation of US$ 3,085.8 mn by2022. The steady growth prospects of a number of prominent end-use industriesof unsaturated polyester resins such as automotive, construction, and marine inthe region will push the demand for unsaturated polyester resins further.
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Construction Sector to ProvidePromising Growth Opportunities
A number offactors are working in favor of the global unsaturated polyester resin market.Of these, the increased demand for the compound for a number of applications inthe thriving global construction industry is likely to present the mostpromising set of growth opportunities. The high demand for products thatshowcase excellent resistance against erosion, are adaptable, and lightweightis the key to the high demand for unsaturated polyester resins in theconstruction sector. Unsaturated polyester resins are extensively used in theconstruction and infrastructure development sectors for the formulation ofsimulated stones, fiber-strengthened plastic (FRP), rocks, marbles, andputties.
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The vastrise in infrastructure development activities in emerging economies in the faceof rising population and rapid development of urban settings are leading to amassive surge in demand for elemental construction materials. This factor willcontinue to remain a key driver for the market over the forecast period.
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