The polyester resin market is experiencing significant growth driven by increasing demand across various industries, particularly in construction, automotive and marine applications. The growing use of lightweight and durable materials in the automotive industry and the continued growth of infrastructure projects in developing countries are generating greater demand for fiber-reinforced plastics and highstrength products typical for construction.
In addition to traditional applications, the polyester resin market is experiencing a shift towards sustainability. Manufacturers are more inclined to develop biobased unsaturated polyester resins. They are incorporating recycled products and this is mainly being encouraged by increased awareness of the environment and legal marketing forces towards reducing carbon footprints. This is expanding the market significantly toward eco-friendly polyester resins that align with global initiatives to make the manufacturing process more sustainable. Among other sectors, the construction sector has been exploiting innovations to meet the demand for sustainability without compromising performance.
Innovative technologies are significantly changing the landscape of the polyester resin market. Advanced composite materials and specially formulated resin types enable more advanced applications, such as in aerospace, renewable energy and engineering. For instance, many key companies like DIC CORP., Eastman Chemical Co., Eternal Materials Co. Ltd. and Polynt S.p.A, among others, are investing in R&D to create high-performance polyester resins with improved mechanical properties, thermal stability and reductions in environmental impact.
In addition, biobased polyester produced from renewable sources, such as plant biomass, is drawing the attention of many manufacturers who are developing greener alternatives to those derived from petroleum-derived formulations. Integrating additive manufacturing technologies, i.e., 3D printing, further expands polyester resins' ability to develop complex products with significantly reduced waste. The 3D printing industry is anticipated to grow rapidly, thus increasing the need for such generalpurpose materials as unsaturated polyester resins, which can be modified for specific applications.
Report Scope
The report presents a comprehensive explanation and quantitative analysis of the polyester resin market. It includes details about polyester resin's forms, types and end-use industries. The report comprises a regional analysis of the markets in North America, Europe, Asia-Pacific and the rest of the world. Polyester resin's versatility makes it attractive to the global market because these materials are used in applications such as paints and coatings, adhesives, pipes, storage tanks and other waterproofing linings. Polyester resins possess characteristics such as toughness and rigidity, excellent thermal stability and resistance to corrosion and chemical compounds. The increasing application of polyester resin in various fields with its associative properties indicate the significant potential in the global market.For this analysis, the global markets for polyester resin were segmented into the following categories:
- Type: unsaturated polyester resin, saturated polyester resin, alkyd resin and vinyl ester resin.
- Forms: liquid and solid.
- End use: building and construction, process industries, transportation, marine, electronics and electricals and others.
This report provides market estimates and sizes in terms of value ($ millions) and market forecasts are given for 2024 through 2029, with 2023 serving as the base year. Regional-level market sizes, with respect to segmentation, are also provided.
Report Includes
- 51 data tables and 48 additional tables
- Analyses of the global market trends for polyester resin industry, with historic revenue data for 2023, estimates for 2024, forecasts for 2025 and projected CAGRs through 2029
- Estimates of the market size and revenue growth prospects, along with a market share analysis by resin type, form, end-use, and region
- Facts and figures pertaining to the market dynamics, technical advances, regulations and the impact of macroeconomic factors
- Insights derived from the Porter’s Five Forces model, as well as global supply chain and PESTLE analyses
- An analysis of patents, emerging trends and developments in the industry
- Analysis of the industry structure, including companies’ market shares and rankings, strategic alliances, M&A activity and a venture funding outlook
- Overview of sustainability trends and ESG developments, with emphasis on consumer attitudes, and the ESG scores and practices of leading companies
- Company profiles, including INEOS, BASF, Mitsubishi Chemical Group Corp., Covestro AG, and Eastman Chemical Co.
Table of Contents
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Executive Summary
Polyester resin is a viscous, pale-colored composite, that is widely used in marine, paint and coatings, tanks and pipes, and construction industries. Polyester resin is an economical and widely-used matrix in the resin family. The addition of styrene (up-to 50.0%), makes the resin easier to handle, as styrene tends to reduce the viscosity of the polyester resin. Many polyester structures are used in industry today, which displays a wide range of the resins’ properties and applications. Therefore, it is considered a major chemical compound in the chemical industry.
The global polyester resin market is expected to grow considerably during the forecast period due to increasing demand for polyester resin in buildings and construction, paint and coatings, tanks and pipes, and in the marine industry. The continuous construction of skyscrapers and smart city projects in emerging economies, such as India and China, offer growth opportunities to the global polyester resin market. According to the Institution of Civil Engineers (ICE), the global construction industry is expected to reach $8 trillion by 2030, primarily driven by China, India, and the U.S.
Increasing demand for polyester resin from the paint, coatings, and energy industries drives the global polyester resin market. Good corrosion resistance, high-temperature tolerance, good mechanical properties, and ease of manufacturing are key benefits of using polyester resin. According to Coatings World, the market value of coatings is continuously increasing, thereby initiating growth in the polyester resin market. Government projects in renewable energy offer growth to the market during the forecast period. For instance, in India, the PradhanMantri Kisan Urja Suraksha evamUtthaanMahabhiyaan (PM KUSUM) launched in 2019, aiming to add solar and other renewable capacities of 25,750 MW by 2022.
Continuous growth in the demand for packaged food items due to rising disposable income, along with the availability of different flavors, supports the growth of polyester resin in the packaging industry. The prospect of environmentally-friendly/bio-based polyester resin is expected to offer growth opportunities in the polyester resin market during the forecast period. Rising awareness among consumers and organizations regarding the environmental impact and sustainability of chemical products minimizes the environmental footprint of chemicals, worldwide. Considerable growth can be expected in the polyester resin market with the widespread introduction of bio-based polyester resin soon.
However, certain factors impede global market growth: instability of raw material prices and characteristic disadvantages of polyester resin versus epoxy resins. There has been a recent spike in the price of raw materials (maleic anhydride) In 2019, methylmethacrylate prices increased by 30.0%, and polyester, epoxy, and polyurethane resin prices have also increased significantly. Due to fluctuating raw material prices, the cost of end-products of polyester resin will increase and consumption is expected to decrease, negatively affecting the market growth.
Companies Mentioned
- ALLNEX GMBH
- AOC
- BASF
- COVESTRO AG
- DIC CORP.
- EASTMAN CHEMICAL CO.
- ETERNAL MATERIALS CO. LTD.
- EVONIK INDUSTRIES AG
- INEOS
- INTERPLASTIC CORP.
- LERG S.A.
- MITSUBISHI CHEMICAL GROUP CORP.
- ORGI CHEMIE LLC.
- POLYNT S.P.A.
- QUALIPOLY CHEMICAL CORP.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 124 |
| Published | March 2025 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value ( USD | $ 13 Billion |
| Forecasted Market Value ( USD | $ 16.6 Billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
