Unsaturated Polyester Resins – Emerging Demand Across the End Use Industry

Polyester resin is undeniably one of the most versatile synthetic products. There are two categories of polyester resin, i.e. saturated and unsaturated. Unsaturated polyester resin has received a great deal of attention from various industries for a range of applications, including building, construction, automotive, electronic devices, marine, transport, and aerospace. It possesses unique properties such as transparency, high strength, high resistance to water, and room temperature cure capability.

According to a report published by Allied Market Research, the unsaturated polyester resins market size is projected to reach $20.1 billion with a significant CAGR from 2021 to 2030. The Asia-Pacific region is currently holding the highest market share, owing to major production, low labor cost, and government initiatives in developing countries.

Moreover, the demand for unsaturated polyester resins from developing economies, like China and India, is much more than the demand form developed countries, like US, UK, and others due to the fact of rapid expansion of construction industry in the developing countries. China is considered as one of the fastest growing countries in the world in the recent times. Also, the construction industry of India is estimated to grow at a rate of around six percent over the past few years. The government of India announced to launch infrastructure projects in order to boost infrastructure activities. This factor is sequentially augmenting the growth of the global unsaturated polyester resins.

However, the outbreak of the COVID-19 pandemic gave way to global lockdown which led to shut down of all the polyester manufacturing hubs temporarily. Implementation of travel and transport restrictions resulted to disruptions in the whole supply chain, which in turn, caused several challenges for the manufacturers and suppliers. Unavailability of labor force and rise in price of the raw material created huge loss for companies, thus had a negative impact on the global unsaturated polyester resins market.  

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Nevertheless, certain factors such as rapid urbanization, continuous growth in infrastructure development, and rise in use of unsaturated polyester resins electric vehicles have driven the growth of the global unsaturated polyester resins market to a great extent. As unsaturated polyester resins decrease vehicle weight and improve fuel efficiency, its demand has significantly increased in the automobile industry.  

With this drift on board, the key market players are focusing on business expansion, partnerships, acquisitions and many more. For instance, specialty resins manufacturer named AOC resins is being acquired by Lone Star Funds, which is an affiliate of Dallas based private equity firm. AOC has production facilities for unsaturated polyester resins along with other types of resins in the US, Canada, Mexico, Asia, and Europe. The company’s consumer base is segmented in construction, infrastructure, automotive, marine, and corrosion. Here, it is worth mentioning that, the global unsaturated polyester resins market is anticipated to assemble greater growth prospects in the near future.

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