Unsaturated Polyester Resin Market is Expected to Reach USD 10.48 Billion in 2019: Transparency Market Research
Albany, NY, May 01, 2014 --(PR.com
)-- Unsaturated Polyester Resin Market was valued at USD 6.54 billion in 2012 and is expected to reach USD 10.48 billion in 2019, growing at a CAGR of 7.5% between 2013 and 2019. In terms of volume, the demand was 4,305.6 kilo tons in 2012.
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Increasing urbanization, changing lifestyles and growing building and construction industry are some of the factors driving the demand for unsaturated polyester resin. The development of building and construction industry in China and India is expected to be one of the vital factors driving the demand for unsaturated polyester resin over the next few years. In addition, growth of the tanks and pipes industry due to rising demand from chemical industry is expected to fuel the growth of the market within the forecast period. However, raw material prices and environmental regulations are expected to restrain the growth of the market in the near future. Increasing application scope of unsaturated polyester resin in the fiberglass market coupled with growing demand for unsaturated polyester resin in the artificial stone market is expected to open opportunities for the growth of the market over the next few years.
Orthopthalic were the most widely used unsaturated polyester resins and accounted for around 35% of the global demand in 2012. Owing to its versatility and resistance characteristics, the demand for unsaturated polyester resin is expected to be substantially higher over the forecast period. However, DCPD grade resins are expected to show the fastest growth over the next few years owing to their growing demand from marine and transport sector.
Building and construction accounted as the largest application segment for unsaturated polyester resin in 2012. Unsaturated polyester resins are being increasingly used in roofing, reinforcement, concrete and composites. However, the demand for unsaturated polyester resin is expected to be growing from the marine applications market within the forecast period. Growing demand for unsaturated polyester resin in marine is due to its resistance and hydrolytic stability and is expected to drive unsaturated polyester resin market in next few years. Unsaturated polyester resin demand in marine market is expected to be 515.5 kilo tons by 2019.
Asia Pacific dominated the unsaturated polyester resin market in 2012 followed by North America owing to the growth of building and construction industry. Asia Pacific is expected to witness the highest growth within the forecast period on account of increasing usage of building and construction and tanks and pipes industry. The demand for unsaturated polyester resin in Asia Pacific is expected to grow at a CAGR of 6.0% between 2013 and 2019.
The report gives a comprehensive view of the unsaturated polyester resin market in terms of volume and revenue. In addition, the report includes current demand analysis and forecast for each product and application in North America, Europe, China, Asia Pacific and Rest of the World. The report comprises of the following segments:
The market has been segmented as below:
Unsaturated Polyester Resin Market: Product Segment Analysis
Others (Includes vinyl ester resin, etc.)
Unsaturated Polyester Resin Market: Application Analysis
Building and Construction
Tanks and pipes
Others (Includes wind energy, etc.)
Unsaturated Polyester Resin Market: Regional Analysis
Rest of the World