From 2020 to 2030, the global unsaturated polyester resin market will grow 1.5 times. The growth of this market is due to high-quality products and components made of different types of unsaturated polyester resins. The versatility applied in high-growth industries such as construction, shipbuilding, automobiles and automobiles will continue to generate profits. However, as governments around the world cut unnecessary imports and exports containing coronavirus, the unsaturated polyester resin market will experience a slight decline. Market participants face challenges in production and distribution channels. China is the largest market for unsaturated polyester resins. The impact of COVID-19 on the Chinese economy has greatly affected the growth trajectory of this market.
The main points of unsaturated polyester resin market research
Dicyclopentadiene unsaturated polyester or DCPD-UPR is the most popular type of product. Thanks to more and more applications in large glass fiber reinforced plastic products, this market segment accounts for more than 35% of the total market value.
Higher flexibility and tensile strength make isophthalic acid products the fastest growing product category. By 2029, the compound annual growth rate of isophthalic acid products will reach 6.5%.
For manufacturers of unsaturated polyester resins, the construction and end-use market segments are the most profitable channels. This segment accounts for more than 26% of the total market revenue and will increase 1.4 times between 2019 and 2029.
Navigation, transportation and artificial stone provide market participants with financially rewarding end-use segments. Among them, during the forecast period, transportation has the most impressive compound annual growth rate of 7.2%.
East Asia accounts for more than 40% of the total market value. Increasing investment in infrastructure in countries such as China and Japan will continue to strengthen the region's growth.
South Asia and Oceania are the most profitable regions, with a compound annual growth rate of 6.7% by 2029. The booming automotive industry and the demand for energy-efficient infrastructure in Indonesia, Singapore and Malaysia have contributed to the region’s growth potential.
Building and construction paves the way for COVID-19 recovery
The current situation poses a severe challenge to market participants. The main problem is the reduction of production staff and the interruption of the supply chain. However, the recovery strategy must involve targeted construction projects after the pandemic. Unsaturated polyester resins are increasingly used in roofing, reinforcement materials and accessories, which is the main growth driver for this market. This traction can be attributed to the corrosion resistance and high strength properties of composite materials made of unsaturated polyester resin. Favorable government initiatives, such as the construction of LaGuardia and O’Hare airports in the United States, the construction of Beijing’s airport in China, and the Indian manufacturing plan are all favorable regional trends. Another driving force for market growth is the urgent need to improve fuel efficiency in the automotive industry.