PUBLISHER: Grand View Research | PRODUCT CODE: 1530065
PUBLISHER: Grand View Research | PRODUCT CODE: 1530065
The global saturated polyester resin market size is anticipated to reach USD 7.91 billion by 2030, growing at a CAGR of 5.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rising adoption of electrical vehicles (EVs) to reduce fossil fuel usage and the advent of technologies such as artificial intelligence (AI), cloud computing, edge computing and internet of things (IoT) is driving the market.
As more people and companies shift to EVs to reduce fossil fuel usage and environmental impact, the automotive industry needs high-performance materials for coatings and adhesives that offer durability, flexibility, and resistance to chemicals and weathering. Saturated polyester resins meet these needs perfectly, making them essential in the manufacturing and maintenance of EVs. Their use in protective coatings ensures the longevity and aesthetic appeal of EV components, which is crucial as the market for electric vehicles continues to expand.
Additionally, advancements in AI, cloud computing, and IoT technologies drive the production and use of sophisticated electronic devices and smart systems, which require reliable and durable materials. Saturated polyester resins are used in the coatings, adhesives, and encapsulation of electronic components, providing insulation, protection from environmental factors, and improved performance. As these technologies become more integrated into various industries, the demand for high-quality materials like saturated polyester resins continues to grow, supporting the overall market expansion.