Market Summary: The global Unsaturated Polyester Resin Market is projected to experience a growth rate of 5.7%, surging from USD 9.82 billion in 2019 to USD 15.33 billion by 2027. This expansion is primarily attributed to advancements in the buildings and construction sector, which are expected to drive the demand for polyester resins. Additionally, the rising adoption of eco-friendly and energy-efficient products is poised to positively impact market growth.
Government regulations favoring the industry and strategic initiatives aimed at infrastructure development will also play a significant role in promoting market expansion. Furthermore, increased foreign investment and trade promotion will contribute to the growth of the market. The widespread availability of polyester resins to end-users through improved product distribution channels is also bolstering market growth.
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Polyester resins are witnessing growing demand owing to their attributes of lightweight, enhanced durability, and cost-effectiveness. These resins find application in various sectors, such as concrete forming pans, doors, electrical boxes, building panels, shower stalls, and floor grafting. Additionally, they are utilized in the production of recreational products like powerboats, sailboats, kayaks, and personal watercraft. The increasing demand for improved consumer lifestyles will further boost the market's growth. However, product exposure and storage regulations may hinder the demand for polyester resins.
Type Outlook: Isophthalic resins are tailored for applications requiring corrosion resistance, as they exhibit good resistance to acids, water, and petroleum solvents. Common uses include tank linings, vessels, fume hoods, and ducting. These resins are cost-effective and offer better flexibility, substantially higher strength, and chemical resistance.
Polyester Resins Market: Drive factors
The growth of the Unsaturated Polyester Resin Market is driven by several factors, including:
- Development in Buildings and Construction: The construction industry's expansion and infrastructure development worldwide create a robust demand for polyester resins in various applications, such as concrete forming pans, building panels, doors, and more.
- Environment-Friendly and Energy-Saving Products: Increasing awareness of environmental concerns and the need for sustainable solutions has led to a rising preference for eco-friendly and energy-efficient products, boosting the demand for polyester resins.
- Favorable Government Regulations: Supportive government policies and regulations promoting the use of polyester resins, especially in sectors like construction and transportation, have contributed to market growth.
- Strategic Infrastructure Initiatives: Governments' initiatives to develop and improve infrastructure, such as road networks, bridges, and public facilities, have driven the demand for polyester resins in construction projects.
- Foreign Investment and Trade Promotion: The inflow of foreign investment and trade promotions has positively influenced the polyester resins market, providing access to new markets and expanding the customer base.
- Widening Product Distribution Channels: Improvements in product distribution networks have made polyester resins more accessible to end-users, driving market growth by increasing the availability of these resins in various regions.
- Lightweight, Durability, and Cost-Effectiveness: Polyester resins offer lightweight properties, enhanced durability, and cost-effectiveness, making them desirable materials in various industries like marine, automotive, and electrical electronics.
- Growing Demand in Recreational Products: The demand for polyester resins has increased in the manufacturing of recreational products such as powerboats, sailboats, kayaks, and personal watercraft, driven by lifestyle improvements and leisure activities.
- Corrosion Resistance Applications: Specific types of polyester resins, like Isophthalic resins, are designed for corrosion-resistant applications, making them suitable for various industries dealing with acids, water, and petroleum solvents.
- Growth in Wind Energy Sector: The increasing adoption of wind energy to meet power demands and reduce reliance on fossil fuels has fueled the demand for polyester resins in manufacturing wind turbine blades and components.
These drive factors indicate a positive outlook for the polyester resins market, with continued growth anticipated in various industries and regions globally.
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