Albany, NY -- (SBWIRE) -- 05/08/2018 -- The global market for unsaturated polyester resins is anticipated to witness a steady growth curve over the coming years. According to a report by Transparency Market Research (TMR), the market is predicted to progress at a swift pace. Due to high demand form varied end-utility applications and industries, prominent vendors are expected to venture into mergers and acquisition for improved product portfolios. Companies are expected to research into the arena of superior recycling methods and processing technology. Some of the key participants of the global unsaturated polyester resin market are Nuplex Industries Ltd., Polynt-Reichhold Group, U-Pica Company Ltd., Royal DSM and BASF SE.
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The global unsaturated polyester resins market was valued at US$5,744.3 mn and is prognosticated to rise at a CAGR of 5.0% from 2017 to 2022. Expanding at this pace, the market is likely to reach a valuation of US$7,339.9 mn by the end of the forecast period.
APEJ to Emerge as Leading Regional Segment due to Industrial Demand
The prominent product types of unsaturated polyester resins are, isophthalic resins, dicyclopentadiene (DCPD) resins and orthophthalic resins. Of these, the segment of isophthalic resins held a significant revenue share in 2017 and is expected to witness higher growth during the forecast period. As compared to other resins, this segment is increasingly being preferred in the composite or fiber glass industry on account of their markedly amazing flexibility, higher strength, and better chemical resistance.
Geographically, the APEJ unsaturated polyester resins market presently is responsible for lion's share of the global market revenue. The regional market is anticipated to exhibit a CAGR of 5.3% CAGR during 2017?€"2022 and is projected to be worth US$ 3,085.8 mn by the end of the forecast period over the forecast duration. This region is driven by progressing applications in various end-use industries such as marine, automotive, and infrastructure development.
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In recent years, various countries, such as China, have improved their overall production capacity for these polymers. The surge in sale of unsaturated polyester resins-based composites in several end-utility industries in the region is a vital factor determinant acting in the regional market growth.
Construction Industry to Offer Rich Growth Opportunities
Developing interest for protection against erosion, light weight, adaptability, and solid FRP products is the real driver for UPR in the development business. The pipe and tank fragment is relied upon to rise as the second most noteworthy market by volume and value on account of the construction segment. UPR is utilized by the development business for assembling fiber-strengthened plastic (FRP), simulated stones, marbles, rocks, and putties. Expanded ventures from the rising economies towards the change and improvement of the infrastructure segment and the development of the construction industry.