“The global unsaturated polyester resins market is projected to grow at a CAGR of 5.78% from 2016 to 2021”
The global Unsaturated Polyester Resins (UPR) market is projected to reach USD 12.15 billion by 2021, at a CAGR of 5.78% from 2016 to 2021. Growth of this market can be attributed to the expansion of the construction industry, increasing urban population, recovery of the global economy, and growth of the composite industry. In contrast to this, increase in styrene content and use of epoxy resins act as major restraining factors hampering market growth.
“Based on end-use industry, the wind energy segment is expected to grow at the highest CAGR during the forecast period”
Based on end-use industry, the wind energy segment is projected to grow at the highest CAGR from 2016 to 2021, both in terms of value and volume. It is expected to provide a broader range of end-use products manufactured from UPR. Wind blades manufacturing is the major application for UPR. The consumption of power energy is increasing at a rapid pace due to rise in supply of energy across the globe. The depletion of fossil fuels and their volatile prices have resulted in increase in energy cost, as demand is constantly growing. This will necessitate huge investments and developments in power generation and grid infrastructure.
“Rising demand from Asia-Pacific is a major driver for the UPR market“
The Asia-Pacific region led the global UPR market, in terms of volume, in 2015. China and India are the two major markets in this region. Rapid industrialization in countries such as India, China, Indonesia, and Malaysia coupled with relaxed norms, cheap labor, and wide customer base are attracting leading players to set up their facilities in this region.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted.
The break-up of the primary interviews is given below:
- By Company Type - Tier 1 - 27%, Tier 2 – 46%, and Others - 27%
- By Designation – C-level – 36%, Director-level - 28%, and Others - 36%
- By Region - North America - 18%, Europe - 27%, Asia-Pacific - 46%, South America, and Middle East & Africa – 9%
Key companies profiled in this market research report include AOC LLC (U.S.), Ashland Inc. (U.S.), Reichhold Inc. (U.S.), BASF SE (Germany), Royal DSM (Netherlands), Scott Bader (U.K.), and U-Pica Technology Group (Japan), among others.
The report covers the UPR market and its application across different industry verticals and regions. It aims at estimating the market size and future growth potential of the UPR market across different segments such as type, end-use industry, and region. Furthermore, the report also includes an in-depth competitive analysis of key players in the market, along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Reasons To Buy the Report
The report will help the market leaders/new entrants by providing them the closest approximations of revenues for the UPR market. This report will help stakeholders to better understand competitive landscape and gain insights to position their businesses, and formulate market strategies. The report will also help stakeholders understand the pulse of the market, and acquire information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on unsaturated polyester resins offered by the top players in the UPR market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the UPR market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for UPR across varied regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the UPR market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of the leading players in the UPR market