Unsaturated Polyester Resins Market is Estimated to Witness High Growth Owing to Increasing Demand from Construction Industry

The unsaturated polyester resins market has witnessed significant growth over the past few years owing to increase in demand from building & construction sector. Unsaturated polyester resins are thermosetting polymers generally used as basic materials for fiberglass reinforced plastics. They are produced by the reaction of maleic anhydride with glycols. Unsaturated polyester resins have superior properties such as excellent adhesion, corrosion resistance, high mechanical strength and easy moldability. Due to these advantages, they are extensively used for manufacturing boat hulls, water tanks, bath tubs, electrical switchboards, shower stalls and other fiber reinforced composite products.

The Global unsaturated polyester resins market is estimated to be valued at US$ 16136.85 Bn in 2024 and is expected to exhibit a CAGR of 21.% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in the unsaturated polyester resins market are BioGaia AB, Chr. Hansen, Groupe Danone S.A., Nestle S.A., PROBI AB, Lifeway Foods, Inc., Mother Dairy, General Mills, Inc., China-Biotics, Inc., Yakult Honsha Co., Ltd., and E. I. du Pont de Nemours and Company. Key players are focusing on new product development and expansion strategies to strengthen their position in the market.

Some key opportunities in the unsaturated polyester resins market include increase in demand from marine and infrastructure industry. The market is also witnessing growth opportunities due to expanding application scope in industries such as transportation, electronics, wind energy and aerospace.

The global unsaturated polyester resins market is expanding rapidly with presence across major regions and countries. Key market players are investing in emerging countries in Asia Pacific and Middle East & Africa region to tap the growth opportunities. Several companies are also focusing on mergers and acquisitions to expand their global reach.

Market Drivers
One of the major drivers for growth of Unsaturated Polyester Resins Market Demand is increasing demand from construction industry. Unsaturated polyester resins find major application in manufacturing of fiberglass reinforced plastics which are extensively used in construction of buildings, infrastructure, industrial structures owing to properties like durability, strength and corrosion resistance. Additionally, growing marine and transportation industry is also fueling the demand for unsaturated polyester resins due to their use in manufacturing of boat hulls, water tanks and various composite components.

PEST Analysis
Political: Regulations regarding volatile organic compound (VOC) emissions can impact the polyester resins market. Stringent environmental regulations in regions like Europe can affect market dynamics.
Economic: Economic growth and industrial production influence demand for polyester resins from end-use industries like construction and transportation. A higher GDP typically increases activities in downstream industries.
Social: Developments in infrastructure and construction sectors due to urbanization trend present market opportunities. Research toward bio-based polyester resins also considers sustainability and social responsibility factors.
Technological: New resin formulations that provide improved properties, higher heat and chemical resistance aid market growth. Advances in 3D printing technologies may use polyester resins and affect production methods in the future.

The Asia Pacific region accounts for the largest share of the global unsaturated polyester resins market in terms of value. Countries like China, India, and Japan are major consumers due to their large manufacturing industries. The construction and transportation sectors in developing nations contribute to high resin demand.

North America is expected to witness the fastest growth during the forecast period. This can be attributed to increased shale gas extraction activities leading to low raw material costs. Research towards bio-based resins also supports market expansion. Investments in infrastructure, especially in the United States, present lucrative opportunities over the coming years.

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