New York – August 28, 2022 - Research Nester’s recent market research report on “Unsaturated Polyester Resin Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview in terms of market segmentation by product, end-user, and by region.
Expansion of the Automotive Industry is Driving the Market Growth
The rapid expansion of the automotive market is aided by a rise in the use of electric vehicles across countries, propelling the demand for unsaturated polyester resins as they offer excellent properties such as ease of the process, high tensile strength, lightweight, good corrosion resistance, and surface tension for vehicle production. According to International Trade Administration, a U.S. government agency, Japan is planning to transition to 100% electric car sales by 2035 for which The Government of Japan (GOJ) is offering to subsidize part of the cost to purchase clean energy vehicles.
However, utilization of styrene during the manufacturing process of unsaturated polyester resins is expected to hinder its market growth since styrene releases VOC emissions significantly and is highly flammable, evaporates easily (volatile), and is therefore not easy to handle and is neurotoxic, mutagenic, respiratory tract irritant.
By end user, the market is fragmented into building & construction, tanks & pipes, electrical, marine, transport, and paints & coatings. The tanks & pipes category is predicted to grow at the fastest CAGR of 7.4% over the next few years. The rising demand for tanks and pipes in chemical plants will boost their production and so thus the requirement for unsaturated polyester resins.
Access our detailed report on “Unsaturated Polyester Resin Market Size & Share by Product {Dicyclopentadiene (DCPD), Orthophthalic, and Isophthalic}; End User (Building & Construction, Tanks & Pipes, Electrical, Marine, Transport, Paints & Coatings) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2022-2035”
https://www.researchnester.com/reports/unsaturated-polyester-resin-market/5178
By region, the North America unsaturated polyester resin market held a significant share in 2022. The growth of the market in the region is owing to a higher inclination towards sustainable energy production, which has increased the projects related to wind power. Moreover, the expansion of industries in the region, including automotive, marine, electrical, and construction across the region since they are commonly used for manufacturing products, such as building materials, automotive parts, boats, and tanks.
This report also provides the existing competitive scenario of some of the key players of the global unsaturated polyester resin market which includes company profiling of KITAMURA CHEMICALS CO., LTD., DIC Corporation, U-PICA Company. Ltd., Japan Composite Co., LTD., BASF SE, UPC Technology Corporation, Eternal Materials Co., Ltd., Scott Bader Company Ltd, Resonac Holdings Corporation, and Qualipoly Chemical Corporation (QPC).
