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The global unsaturated polyester resin (UPR) market size is projected to reach USD 16,965.7 million by 2027. UPR has several beneficial properties, such as durability, strength, flexibility, insulation, and corrosion resistance. Therefore, it is mainly used for electronics & electrical applications. Fortune Business Insights™ published this information in a new study, titled, “Unsaturated Polyester Resin Market Size, Share & COVID-19 Impact Analysis, By Type (Orthophthalic, Isophthalic, and DCPD), By Application (Building & Construction, Marine, Pipes & Tanks, Electrical & Electronics, Land Transportation, Wind Energy, and Others), and Regional Forecast, 2020-2027.” The study further mentions that the market stood at USD 11,579.6 million in 2019. It is set to exhibit a CAGR of 5.9% during the forecast period between 2020 to 2027.
AOC Acquires a New Factory in the Czech Republic to Strengthen its Market Position
In December 2020, AOC, a producer of polyester and vinyl ester resins headquartered in Switzerland, announced the acquisition of a factory in Usti nad Labem, Czech Republic. The factory manufactures unsaturated polyester resins. The plant had previously operated as a joint venture between Spolchemie and Kaprain, two Czech companies. This would enable AOC to enhance its position in Germany and Central and Eastern Europe. It will soon start manufacturing resins from recycled PET.
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Increasing Population & Renovation Activities to Augment Growth
Unsaturated polyester resins are experiencing high demand nowadays because of the increasing initiatives by governments of developing countries to broaden their housing and infrastructure projects. At the same time, the surging renovation activities, coupled with the rising population, would accelerate the unsaturated polyester resins market growth in the near future. However, the temporary shutdown of production units on account of the COVID-19 pandemic may obstruct UPR market growth.
Key Players Focus on Acquisition Strategy to Gain a Competitive Edge
The global market contains a large number of manufactures, such as INEOS, BASF SE, Dow, Deltech, Royal DSM, and Reichold. Reichold is one of the leading providers of polyester resins for multiple applications, while Deltech offers various resins based on alkyd chemistry. Some of the others are focusing on the merger and acquisition strategy to expand their product lines and intensify competition.
Fortune Business Insights™ lists out the names of some of the renowned unsaturated polyester resin manufacturers operating in the global market. They are as follows:
Further Report Findings-
The global market can be segmented in the following way:
Volume (Kiloton); Value (USD Million)
By Type, By Application, and By Region