Unsaturated polyester resins (UPR) have varied applications ranging from bulk and sheet molding compound to toners in laser printers. These compounds are commonly used as thermoset resins as they cure exothermically. As a result, they are one of the most popularly used forms of resins across the world. The products have strong demand across different industrial verticals, which make them economically vital. Rising demand is the strongest reason for steady growth in global unsaturated polyester resin market. Experts claim the industry for the UPR compounds to witness steady growth. Businesses spread across different geographic regions are expecting positive manipulation from the current conditions of the industry.
UPR Market Segmentation and Forecasting Reports
The global unsaturated polyester resin market is segmented on the basis of several vital market components. These components include the types of resins, demand from different industrial verticals and demand pattern within various geographic regions. Dicyclopentadiene (DCPD), isophthalic resin and orthophthalic resins are the three prominent types of unsaturated polyester resins. These products are demanded across different businesses including construction, building, pipes and tanks, marines, automotive, transportation, electrical, electronics, wind energy and other such businesses.
Based on geography, the market is categorized into North America, Asia Pacific, Europe and rest of the world. United States of America and Canada are the prominent regions in North America. Significant regions in Europe on the other hand include Germany, Italy, UK, Spain and France. Asia Pacific region comprises of India, China and Japan. Brazil, Middle East and Africa are the most significant regions of the rest of the world segment. Analysis of all these segments is vital in order to draw valuable conclusions about the latest trends, opportunities, competitive outlook and challenges in the industry.
Market research reports for unsaturated polyester resin market suggest that the industry is aiming at steady growth in terms of compound annual growth rate. During the forecasting period of over four to five years (2013 to 2018), the market is expected to maintain estimated CAGR of over 6%. At this estimated rate, the industry is anticipated to reach $9.5 billion by 2018, which was worth $6.5 billion in 2013. According to the reports, building and construction is the most dominating market segment based on industrial verticals.
The construction segment is expected to dominate the rest of the industry during the forecasting period as well. Geographically, Asia pacific region is cited to dominate the rest of the region in terms of growth, demand, applications and investments.