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
Northbrook, IL -- (SBWIRE) -- 11/20/2018 -- According to the new market research 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. Growth in this market can be attributed to high growth of the construction, wind energy, Fiber-Reinforced Plastic (FRP), automotive, and composite manufacturing industries.
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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
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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Major Market Developments
- In October 2015, Polynt launched a cost-effective, pre-accelerated bonding paste, Gravicol 2015, based on UPR. This is expected to cater the demand for UPR and strengthen the company's position in the global market.
- In January 2015, BASF SE invested USD 7.89 million to expand its resin production plant in Munster Site, Germany. This development has helped the company strengthen its position in the UPR market.
- In August 2013, Ashland Inc. inaugurated its new gelcoat production facility in Chemical Industry Park of Changzhou Yangtze Riverside Economic Development Zone in China. The production facility was worth USD 60 million, and is the most advanced gelcoat plants in the world, which provides services to the marine, sanitary wire, transportation, and industrial markets in China. This has helped the company in its expansion & investment plans.
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