DELRAY BEACH, Fla., Sept. 10, 2024 /PRNewswire/ -- The report "Unsaturated Polyester Resins Market by Type (Orthophthalic Resins, Isophthalic Resins, Dicyclopenntadiene Resins, Gelcoats), End-use Industry (Building & Construction, Marine, Transportation, Pipes & Tanks, Wind Energy), Region - Global Forecast to 2029", is projected to reach a market size of USD 10.29 billion by 2029 from USD 8.50 billion in 2024, at a CAGR of 3.9%. Asia pacific is the one of the largest markets for unsaturated polyester resins. The demand for unsaturated polyester resins is experiencing significant growth across various industries, including automotive, building & construction, electronical & electronics, marine and more. Emerging nations such as China, India, Brazil, and Mexico are expected to play a crucial role in driving the global unsaturated polyester resins market forward.
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350 - Tables
60 - Figures
305 - Pages
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Orthophthalic Resins by type segment dominate the market by highest share of the unsaturated polyester resins market during the forecasted period.
Orthophthalic Resins are dominating because of their balanced mechanical qualities and excellent performance-to-cost ratios. These resins have many beneficial applications because of their strong mechanical qualities, chemical resistance, and ease of processing. Because of their great performance and durability, they can be employed in a variety of industries, including the marine, construction, and automotive sectors. Additionally, orthophthalic resins are more extensively employed, especially for less expensive items, due to their comparatively lower cost as compared to isophthalic or vinyl ester resins. Their additional benefits include having command of the production procedures and having their products readily available, both of which are highly advantageous to them in the marketplace. With ongoing technological advancements and innovations in orthophthalic resins, coupled with expanding applications in emerging industries, the segment is expected to experience robust growth in the forecast period.
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Asia Pacific region is likely to be the fastest growing unsaturated polyester resins market during the forecast period.
Rapid industrialization and urbanization in the Asia Pacific region are driving demand across various sectors including automotive, electronics, construction, and marine industry. With expanding manufacturing activities in countries like China, India, Japan, and South Korea, there's a rising need for unsaturated polyester resins for various applications. Moreover, ongoing infrastructural development projects, particularly in China and India, are boosting demand in the construction sector for applications like bonding, sealing, insulation, and surface protection. Advancements in unsaturated polyester resin formulations tailored to diverse industry needs are poised to further stimulate market growth in the region.
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Market Players
Polynt S.p.A. (Italy), DIC Corporation (Japan), Allnex GMBH (Germany), Newsolar Technology Group Co., Ltd. (China), Scott Bader Company Ltd. (UK), Resonac Holdings Corporation (Japan), BASF SE (Germany), AOC(US), Covestero AG (Germany), and INEOS (UK) are the key players in the global unsaturated polyester resins market.
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