Lucintel Forecasts Good Growth for Unsaturated Polyester Resin Market in Indian Composites Industry by 2018
Irving, TX, December 08, 2013 --(PR.com
)-- The unsaturated polyester resin market in India is poised to grow substantially in the next five years. The market is mainly driven by domestic consumption basically by government, NGOs, and civic bodies. The Indian unsaturated polyester resin market witnessed strong growth in the last couple of years due to robust GDP growth, increased manufacturing activity, and core sector growth. Application markets such as transportation is growing rapidly, helping the growth of Indian unsaturated polyester resin market. According to market forecasts, Indian unsaturated polyester resin market is expected to reach 445 million pounds by 2018.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on this market and presents its findings in "Opportunities for Unsaturated Polyester Resin in Indian Composites Industry 2013-2018: Trend, Forecast, and Competitive Analysis.” This Composites Market Report provides a concise overview of the Indian unsaturated polyester resin market in terms of value and projected annual growth.
Lucintel discusses the various challenges and opportunities faced by the Indian unsaturated polyester resin market. The raw materials needed for this industry are priced quite high as compared to traditional metals such as steel and aluminum and this poses a challenge for the Indian unsaturated polyester resin industry. Polyester resin constitutes more than half of the resin used in Indian composite industry.
Lucintel's study encompasses the major drivers. Low price of unsaturated polyester resin as compared to other resins such as epoxy and vinyl ester is also a driving factor for growing demand of it. Also, with the Indian composites’ market’s steady growth, unsaturated polyester resin market is also poised for big growth.
This report highlights different aspects of Indian unsaturated polyester resin market. Due diligence has been given to the current market scenario in India. The Indian unsaturated polyester resin market is expected to grow impressively in near future. The top players need to formulate effective marketing strategies to take advantage of the opportunities, resulting in improved revenue and profitability.
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