Unsaturated Polyester Resins Market Size, Share, Growth Analysis, By Type (Orthophthalic Resins, Isophthalic Resins), By End Use Industry (Building & Construction, Marine), By Region - Industry Forecast 2024-2031

Global Unsaturated Polyester Resins Market size was valued at USD 7.87 billion in 2022 and is poised to grow from USD 8.18 billion in 2023 to USD 11.11 billion by 2031, growing at a CAGR of 3.90% during the forecast period (2024-2031).

The market for unsaturated polyester resins (UPR) is experiencing significant growth, primarily driven by their widespread application in various filled plastic products including gratings, tanks, pipes, and sanitary ware, as well as high-performance components for the marine and transportation sectors, such as body panels and fenders. The increasing demand for UPR is further bolstered by the expanding infrastructure development initiatives worldwide. Moreover, as the automotive industry shifts towards electric vehicles, the need for lightweight materials to enhance fuel efficiency is propelling the consumption of unsaturated polyester resins. This trend is supported by urbanization and population growth, which are contributing to a robust expansion of the construction industry, thereby fostering greater demand for UPR products. In addition to structural applications, UPRs are also integral to coatings and adhesives, reinforcing their versatility and market appeal. As these trends continue to unfold, the unsaturated polyester resin market is poised for rapid growth, highlighting its crucial role in meeting the challenges of modern manufacturing and infrastructure needs.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Unsaturated Polyester Resins market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Unsaturated Polyester Resins Market Segmental Analysis

The global unsaturated polyester resins market is predicted to be dominated by the Asia Pacific region, offering market participants lucrative potential. Unsaturated polyester resins are increasingly being used in a variety of end-use industries, including the automotive, maritime, and construction and building sectors. China has increased its capacity for producing these polymers in order to increase revenue. One important element highlighting the regional market is the strengthening sales of composites made with unsaturated polyester resins in a number of end-use applications in the area. A number of businesses in important regions are engaging in mergers and acquisitions, which is likely to increase competition in the market. The market is currently undergoing advances toward consolidation.

Driver of the Global Unsaturated Polyester Resins Market

The global Unsaturated Polyester Resins (UPR) market is being significantly driven by the rising demand from the building and construction sector, which utilizes these resins for various applications, including window panels, roof tiles, floor tiles, and bathroom fixtures. UPR's superior properties, such as excellent surface finish, water and wear resistance, along with excellent stiffness and electrical insulation, make it highly desirable in construction. The ongoing surge in construction activities worldwide, aimed at accommodating the increasing population, further propels UPR consumption. Additionally, growing public infrastructure and housing projects, particularly in developing countries, paired with rising urbanization and consumer disposable incomes, enhance the demand for these resins, supporting robust market growth.

Restraints in the Global Unsaturated Polyester Resins Market

The global unsaturated polyester resins market faces several restraints that hinder its growth. As demand for these resins rises in various industries, the emergence of alternative materials such as nylon and epoxy resin has drawn consumers toward these more affordable and accessible options. This shift contributes to a slowdown in the expansion of the unsaturated polyester resins market. Additionally, stringent government regulations aimed at environmental protection and the reduction of non-renewable resource usage further challenge market growth. The COVID-19 pandemic also exacerbated these issues by temporarily halting industrial operations, resulting in significant supply-demand disparities in the market.

Market Trends of the Global Unsaturated Polyester Resins Market

The Global Unsaturated Polyester Resins (UPR) market is poised for significant growth, driven by escalating demand across diverse end-use industries such as automotive, aerospace, electrical & electronics, and marine. The increasing reliance on UPR for applications like printed circuit boards and composite materials for vehicle and boat manufacturing underscores its versatility and cost-effectiveness. Its desirable properties, including corrosion resistance, durability, and lightweight characteristics make it highly suitable for electrical insulation and advanced applications. Furthermore, as industries such as wind energy and pipeline construction expand, the demand for UPR is expected to surge, propelling market growth opportunities in the coming years.