The global polyester resins market is expected to be valued at USD 15.33 Billion in 2027 from USD 9.82 Billionin 2019, registering a CAGR of 5.7% through the forecast period. Polyester resins refer to synthetic resins produced through the chemical reaction of polyhydric alcohols and dibasic organic acids. Maleic Anhydride is a commonly used polyester resin with diacid functionality. The marine industry is one of the largest end-users of this type resin and uses these resin composites in the manufacture of yachts, dinghies, and workboats.
Revenue from the global polyester resins market is expected to register a significantly high growth rate over the projected period. One of the most significant factors fueling the growth of the global market is the escalating demand for polyester resins across the construction, commercial, automotive, and marine industries. The reduced content of styrene in these resins and their low shrinkage properties make them a highly sustainable and environment-friendly material. The rising demand for electric and hybrid vehicles, increasing focus on reduced fuel consumption and high energy efficiency of automobiles, and stringent government regulations regarding curbing carbon emissions and improving the automotive safety standards are the pivotal factors boosting the global polyester resins market growth. Polyester resins are used as composite materials in the manufacture of panels, frames, interior components, and numerous other components used in the automotive, electrical & electronics, and construction industries. In the electrical & electronics sector, polyester resin composites are used to manufacture microwave antennas, printed wiring boards, substation equipment, standoffs, and pole line hardware. In addition, these resins are extensively utilized in the marine industry for manufacturing workboats, dinghies, and yachts. Due to their high flexibility, impact strength, and tear resistance, polyester resins are used in the production of various fabrics for ropes, carpeting, and other consumer goods.
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Key Highlights of the Report:
- Based on product type, the orthophthalic resins sub-segment is leading the global polyester resins market in terms of revenue. Orthophthalic resins are used as fiberglass reinforcement plastics and are widely used in the buildings & construction, marine, wind energy, and automotive industries.
- Based on end-user, the buildings & construction sub-segment has emerged as the dominant segment, accounting for the highest revenue share. Polyester resins are extensively used in this sector for roofing, reinforcement, concrete-making, and the manufacture of composites of household structures.
- The Asia Pacific polyester resins market is projected to attain the largest revenue share of the global market over the forecast period. Rapidly increasing construction activities, mainly in the developing countries like India and China, augmented automotive production and rising sales of passenger vehicles, increasing foreign direct investment (FDI) for infrastructural development, and the region’s expanding construction, automotive, and marine industries are the main factors responsible for the regional market growth.
- The leading companies operating in the global polyester resins market include BASF SE, Ashland Inc., Reichhold Inc., Scott Bader Company Ltd., Polynt, Royal DSM, Nuplex Industries Ltd., AOC LLC, UPC Technology Corp., and U-Pica Company Ltd.
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For the purpose of this report, the global polyester resins market has been segmented on the basis of product type, end-user, and region:
By Product Type (Revenue, USD Billion; 2017-2027)
- Orthophthalic Resins
- Isophthalic Resins
- Dicyclopentadiene (DCPD) Resins
- Terephthalic Resins
- Gelcoat Resins
- Chlorendic Resins
By End-user (Revenue, USD Billion; 2017-2027)
- Buildings & Construction
- Electrical & Electronics
- Pipes & Tanks
- Wind Energy
- Land Transportation
- Artificial Stones
By Region (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
Table Of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Polyester Resins Market Segmentation & Impact Analysis
4.1. Polyester Resins Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
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