Global Unsaturated Polyester Resin (UPR) Market is
expected to reach USD 11.37 billion by 2020, according to a new study by Grand
View Research, Inc. Growing construction industry as a result of industrialization
in emerging countries including China, India and Brazil is expected to increase
Fiberglass Reinforced Plastics (FRP) demand. UPR is extensively used in
the manufacturing of FRP and is expected to witness growth on account of
growing FRP use in construction. Increasing use of tanks & pipes in the
chemical industry is expected to propel UPR demand over the forecast period.
Building & construction was
the most dominant end-use of UPR with demand estimated at over 1,100.0 kilo
tons in 2013 owing to increasing FRP usage. Increasing application scope in
industries including marine, aerospace, automotive and chemical is expected to
result in high demand for UPR over the next six years. UPR use in tanks and
pipe is expected to be a key area of development for the market over the
forecast period.
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Further key findings
from the study suggest:
·
Global UPR demand
was estimated at 4,509.3 kilo tons in 2013 and is expected to exceed 6,800.0
kilo tons by 2020, growing at a CAGR of 6.3% from 2014 to 2020.
·
Orthopthalic
resins are widely used in transport, construction and marine industries owing
to low cost as compared to DCPD resins. However, the latter are increasingly
gaining acceptance due to low VOC emissions and are estimated to gain share
over the next six years. DCPD resins are expected to witness fastest growth at
an estimated CAGR of 6.7% from 2014 to 2020.
·
Construction
industry is expected to witness high UPR demand primarily due to lightweight
and high sustainability of FRP. Increased infrastructure spending by emerging
countries is expected to positively impact UPR demand.
·
Asia Pacific
accounted for more than 50% of market volume share in 2013 owing to high
end-use industry growth. Emerging economies of India and China are experiencing
rapid industrialization resulting in infrastructure improvement and increased
marine, transport, aerospace and automobile industries which are key factors
responsible for high market share.
·
UPR market has
numerous domestic participants catering to end-use industries in their
respective region. The market is fragmented on a global level with the top four
companies accounting for less than 25% of the market in 2013. Key global
participants in the market include BASF, Dow Chemicals, Ashland and CCP
Composites.
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About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc.
United States
Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
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