Unsaturated Polyester Resins Global Market Report 2024

The unsaturated polyester resins market size has grown strongly in recent years. It will grow from $10.43 billion in 2023 to $11.23 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. Historical growth was primarily driven by several factors including the expansion of emerging markets, rapid industrialization, a burgeoning chemical industry, and increased construction activities.

The unsaturated polyester resins market size is expected to see strong growth in the next few years. It will grow to $14.89 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. Forecasted growth is due to government support, urbanization, automotive industry expansion, and increased demand for FRP. Key trends include bio-based UPRs, new plant expansions, product innovations, partnerships, and collaborations.

The unsaturated polyester resins market is experiencing significant growth, primarily propelled by the expanding construction industry. This sector encompasses activities related to the maintenance, repair, and construction of structures and buildings. The demand for unsaturated polyester resins in the building and construction industry is driven by their favorable properties, including rapid strength gain, chemical resistance, corrosion resistance, high impact strength, and excellent compressive strength. Notably, the growth in building and construction activities is evident in various regions. For instance, according to Stats NZ Tatauranga Aotearoa, a New Zealand-based government data agency, building activities increased by 3.7 percent in March 2021, with a 4.3 percent rise in residential activities compared to 2020. Additionally, the US Census Bureau reports a 10.2 percent growth in the value of construction activities, increasing from $1,626.4 billion in 2021 to $1,792.9 billion in 2022. Therefore, the expansion of the construction industry is a key driver for the unsaturated polyester resins market.

The growth of the unsaturated polyester resins market is further supported by government initiatives aimed at promoting awareness and sustainable practices in the chemical processing sector. Governments are actively involved in efforts to educate the public about chemical processing and related products, contributing to the overall expansion of the market. As an example, Arkema S.A., a France-based specialty materials and chemical manufacturing company, collaborated with the Spanish Superior Council of Science Research (CSIC) to reclaim monomers for sustainable polyester powder resins. The focus is on advancing the recyclability of post-consumer PET (polyethylene terephthalate) for coatings used in various applications, including home furnishings, appliances, cars, and sporting venues. Additionally, the National Composites Center in the UK announced support for a consortium addressing the decarbonization and recycling of composite materials in the marine industry, aiming to develop the first large-scale GRP (glass fiber-reinforced plastics) and FRP (fiber-reinforced plastics) recycling and reuse facility in the UK. Hence, government support is expected to play a crucial role in fostering the growth of the unsaturated polyester resins market.

The unsaturated polyester resins market is witnessing a notable trend characterized by a focus on product innovations. Technologies based on unsaturated polyester resins are being increasingly adopted for repair activities, with end-users seeking innovative solutions to enhance their operational efficiency. A notable example is the development of fast-setting and high-strength polymer concrete composite (PolyCC) technology, as reported by the defense research and development organization in 2021. This technology utilizes an unsaturated polyester resin system as the binder resin for repairing runways. The PolyCC technology offers rapid setting and high compressive strength, achieving three-dimensional cross-linking within two hours. Notably, it is an innovative solution that does not require water and is suitable for use in both hot and sub-zero temperature conditions.

Manufacturers in the unsaturated polyester resins market are increasingly engaging in partnerships and collaborations to bolster their financial strength, enhance their product portfolios, and expand their geographical presence. An illustrative example is the expansion of the partnership between AOC AG, a Switzerland-based company specializing in unsaturated polyester resins and specialty materials, and BÜFA Composite Systems. In April 2023, the partnership led to the establishment of the new distribution company Büfa Composites Austria. This collaboration aims to improve the availability of various AOC resins, gelcoats, and supplementary products for clients. BÜFA Composite Systems, based in Germany, is a chemical company operating in the field of composite materials. This strategic partnership reflects the industry's emphasis on collaboration to strengthen market presence and offer a diverse range of products to customers.

In June 2022, Scott Bader Pvt Ltd. (SBPL), an India-based manufacturer specializing in advanced composites, structural adhesives, and functional polymers, acquired Satyen Polymers Pvt Ltd. for an undisclosed sum. This strategic acquisition aims to expand SBPL's product portfolio, enhancing their ability to offer top-tier composite and adhesive products to consumers in India. Satyen Polymers Pvt Ltd., a manufacturer specializing in composite resins, provides a comprehensive range of unsaturated polyester resins.

Major companies operating in the unsaturated polyester resins market report are DOW Inc., BASF SE, INEOS Group Holdings S.A., SABIC, UPC Technology Corporation, Eternal Materials Co Ltd., Polynt Group S.A.R.L., Mitsubishi Gas Chemical Company Inc., DIC Corporation, Scott Bader Company Ltd., Ashland India Private Limited, Interplastica Pvt. Ltd., Poliya Composites Resins, Polymers India Private Limited, Reichhold India Private Limited, Scott Bader India Private Limited, Swancor India Private Limited, Zhejiang Tianhe Resin Co Ltd., Jiangsu Fullmark Chemicals Co. Ltd., Shenzhen Wote Advanced Materials Co. Ltd., Hubei Phoenix Chemical Company Ltd., CIECH Sarzyna, Nouryon Chemicals, BÜFA Composites, LERG SA, Orson Resins and Coatings Private Limited (ORCPL), Mader Composites France M.C.F, Euroresins SAS, Ashland Inc., Interplastic Corporation, Pacific Materials Inc., Polyplastics USA Inc., DuPont, Mitsubishi Chemical Group, Celanese Corporation, AOC Resins, ExxonMobil Chemical, Innova, braskem, PVC Resin (Polyvinyl Chloride Resin), Resina Brasil, Saad Fiber Glass Trad Llc, Modest Marketing LLC, Fortune Emirates General Trading LLC, Polychem Resins International Industries LLC, Chemipol Trading (Pty) Ltd., Dow Plastics Sa Pty Ltd., NCS Resins, KZN Resins, General Chemical Company.

Asia-Pacific was the largest region in the unsaturated polyester resins market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the unsaturated polyester resins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the unsaturated polyester resins market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

Different types of unsaturated polyester resins include orthophthalic resins, isophthalic resins, dicyclopentadiene, and others. Orthophthalic resin, a low-styrene emission type, is a thixotropic polyester resin that enhances the working environment during and after application. These resins are available in liquid and powder forms and cater to diverse end-users such as building and construction, automotive, marine, pipes, ducts and tanks, wind energy, electrical and electronics, among others.

The unsaturated polyester resins market research report is one of a series of new reports that provides unsaturated polyester resins market statistics, including unsaturated polyester resins industry global market size, regional shares, competitors with an unsaturated polyester resins market share, detailed unsaturated polyester resins market segments, market trends and opportunities, and any further data you may need to thrive in the unsaturated polyester resins industry. This unsaturated polyester resin market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The unsaturated polyester resins market consists of sales of vinyl polyester resins. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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