Transparency Market Research has published a new report titled “Unsaturated Polyester Resin Market – Asia Pacific Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 – 2023.” According to the report, the Asia Pacific unsaturated polyester resin market was valued at US$ 3.98 Bn in 2014 and is anticipated to reach US$ 7.45 Bn by 2023, expanding at a CAGR of 7.2% between 2015 and 2023.
Increasing demand for unsaturated polyester resin in the building & construction industry is one of the key factors driving the market growth in Asia Pacific. Growth in building & construction activities in Southeast Asia, China, and India is projected to chiefly boost industry growth. Furthermore, high demand for composite materials is likely to drive the market for unsaturated polyester resin in this region. Composite materials are primarily consumed in marine, transport, and pipes & tanks. Growth in chemical and maritime industries is likely to drive the unsaturated polyester resin market in Southeast Asia. However, stringent regulations related to styrene and volatile raw material prices are expected to hamper growth of the unsaturated polyester resin market in Asia Pacific. Increasing application scope of unsaturated polyester resin in wind energy and marine industries is likely to open new growth opportunities during the forecast period.
In terms of demand, orthophthalic resin was the most widely used product segment, accounting for over 35% share of the unsaturated polyester resin market in Asia Pacific in 2014. This resin is widely consumed in building & construction due to its high tensile strength and fatigue limits. Isophthalic resin held the second-largest share of the unsaturated polyester resin market in Asia Pacific in 2014. Isophthalic resins possess higher strength and resistance as compared to orthophthalic resins and are principally used in automotive and marine industries. However, DCPD resins are projected to be one of the fastest-growing product segments during the forecast period due to high demand from transport and marine industries. The report provides a comprehensive view of the unsaturated polyester resin market in terms of volume and revenue. It includes current demand analysis and forecast for product segments and end-users in China, India, Indonesia, Malaysia, Singapore, Thailand, and Rest of the Asia Pacific.
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