The global Unsaturated Polyester Resins (UPR) market is projected to reach USD 12.15 Billion by 2021, at a CAGR of 5.78% from 2016 to 2021. The growth of the market can be attributed to the increasing applicability of UPR in boat & shipbuilding, manufacturing of wind blades, electrical windmills, automotive applications, sanitary wares, Fiber-Reinforced Plastics (FRP), and non-reinforced plastics.
Seattle, WA -- (SBWIRE) -- 02/17/2017 -- The report "Unsaturated Polyester Resins Market by Type (Orthophthalic, Isophthalic & DCPD), End-Use Industry (Building & Construction, Marine, Land Transportation, Pipes & Tanks, Artificial Stone, Wind Energy, Electrical & Electronics) - Global Forecast to 2021", The global Unsaturated Polyester Resins (UPR) market is expected to grow from USD 9.17 Billion in 2016 to USD 12.15 Billion by 2021, at a CAGR of 5.78% between 2016 and 2021.
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Growth in this market can be attributed to high growth of the construction, wind energy, Fiber-Reinforced Plastic (FRP), automotive, and composite manufacturing industries.
Based on end-use industry, the building & construction segment is projected to lead the UPR market during the forecast period
Based on end-use industry, the building & construction segment accounted for the largest share of the global UPR market in 2015. UPR are being widely used in the construction sector, as they are utilized in Fiber-Reinforced Plastics (FRP), artificial stones, marbles, granites, and putties, among others. Building & construction is an important end-use industry for UPR, as in emerging economies, substantial investments are being made in the infrastructure sector, which, in turn, is driving the UPR market. Therefore, rapid growth of the building & construction sector in India, China, South Africa, UAE, and Brazil has influenced the growth of the UPR market.
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Based on type, the orthophthalic segment is expected to lead the UPR market during the forecast period
Based on type, the orthophthalic segment is estimated to lead the global UPR market in 2016, in terms of value and volume. Orthophthalic have different properties such as high flexibility and tensile strength. Orthophthalic resins are advantageous in terms of cost, toughness, and chemical resistance as compared to other resin types such as isophthalic, DCPD, and terephthalic. These are commonly used in hulls and decks of boats, land transport components, molding, wind blade manufacturing, FRP structures, laminating resins, and in various other applications such as adhesives, buttons, castings, composites, encapsulation, flooring materials, gelcoats, filler pastes, pigment pastes, polymer concrete, putties, tooling, and fire-retardant & anti-corrosion coating.
Asia-Pacific expected to lead the UPR market during the forecast period
The Asia-Pacific region is expected to lead the UPR market during the forecast period. In this region, China and India are the biggest consumers of UPR.
Key factors driving the UPR market in the Asia-Pacific region are:
Rapid industrialization in countries such as India, China, Indonesia, and Malaysia, among others
Close to 39% of the global population lives in China, India, and Japan
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AOC LLC (U.S.), Ashland Inc. (U.S.), Reichhold Inc. (U.S.), BASF SE (Germany), Royal DSM (Netherlands), Scott Bader (U.K.), and U-Pica Technology Group (Japan), among others, are the key players in the global UPR market.
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