The overall UPR market share is majorly driven by escalating composite demand across various end-user industries including automotive and construction owing to its superior traits such as light weight, increased durability and low cost. It is preferred in the composite industry to upscale its flexural, mechanical, morphological and thermal characteristics. In 2014, the global composite business generated revenue more than USD 25 bn and is forecast to surpass USD 40 bn by 2022.
Unsaturated Polyester Resins Market size is set to surpass USD 12 billion by 2022; according to a new research.
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The global construction expenditure in 2014 was approximately USD 7,000 bn and is predictable to exceed USD 13,000 bn by 2022. It is generally used across construction applications for water management, pipes, tanks and other systems.
In addition, increasing demand for highly flexible and corrosion resistance product will stimulate global unsaturated polyester resins (UPR) market size over the projected timeframe.
As a result, extensive product usage in the construction sector shall drive business growth significantly by 2022.
It is widely preferred in manufacturing sailboats, canoes, kayaks, powerboats and personal watercrafts owing to its higher water resistant properties. Booming recreational business, particularly due to improving lifestyle has substantially driven the marine industry for tourism and adventure.
Drifting focus towards reducing the overall automobile weight in order to reduce the carbon emissions from vehicles along with increasing the engine efficiency, has propelled the product demand widely as a metal or alloy substitute owing to the ability to offer high strength with low weight. Furthermore, the global automotive production, both commercial & personal vehicles, was approximately over 85 million units.
Increasing automotive manufacturing accompanied with strict government measures to reduce vehicular emissions will boost business growth significantly.
Styrene monomer is a vital feedstock used in the unsaturated polyester market share. However, it has allied health hazards in instance of direct skin & eye contact, ingestion and inhalation.
Therefore, the industry is firmly regulated and directed by government legislations. This may hinder industry growth over the projected timeframe.
Nevertheless, growing R&D expenditure towards manufacturing bio-based UPR market shall open up new growth avenues by 2022.
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Key insights from the report include:
In 2014, orthopthalic unsaturated polyester resins market size was the highest industry share contributor. Increasing product application in fiber reinforced plastics (FRP), mainly due to its substantial corrosion resistance accompanied with low cost will boost demand.
In 2014, unsaturated polyester resins (UPR) market share for construction & building generated revenue more than USD 1.5 bn. Increasing production usage in construction business for reinforcement and roofing applications will boost business.
UPR market share for marine is forecast to observe highest growth at over 8% by 2022. Rising marine trading accompanied with growing recreational consumer spending has significantly driven segment growth.
In 2014, North America. UPR market size was valued close to USD 1.2 bn. Rapidly growing end-user including construction, automotive and electronics along with robust growth in the U.S.
oil & gas sector is anticipated to be the prime growth factor.
In 2014, unsaturated polyester resins market share was led by Asia Pacific. The regional growth is primarily elevated by substantial construction industry growth in India and China.
In 2014, the UPR market size was fragmented with key industry players holding close to 30% of the global share. Key companies include Ashland, CCP Composites, Changzhou New Solar, SABIC, Dow and BASF.
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