Isophthalic UPR Market to Expand at 6.5% CAGR, Says FactMR
Booming infrastructure and adoption in automotive industry will be a strong focus area for Isophthalic Unsaturated Polyester Resin (UPR) manufacturers in 2021 and beyond, opines the latest study by Fact.MR. According to the report, the market will exhibit a steady growth at 5.3% CAGR through 2030. Steady recovery and increasing demand from the end-users will support the growth of UPR market.
The latest edition of UPR market by Fact.MR finds that the consistent demand from the marine, construction and automotive industries to spur the sales of Isophthalic Unsaturated Polyester Resin. Application in building & construction industry accounts for the major market share backed by the increased demand for anti-corrosive elements from the manufacturers. Significant application of UPR in manufacturing high quality bathroom fittings, followed by increased isophthalic UPR adoption to bolster the demand of Isophthalic Unsaturated Polyester Resin. Hence fostering the sales.
The global Isophthalic Unsaturated Polyester Resin market will multiply 1.5X from 2020 to 2030. Growth of this market is accredited to superior quality of products, and components manufactured using different kinds of Isophthalic Unsaturated Polyester Resins. The versatility of applications in high growth industries such as building & construction, marine, and automotive will continue to generate profits. However, as governments around the world cut off non-essential imports and exports to contain coronavirus, the market for Isophthalic Unsaturated Polyester Resins will witness a marginal slump. Market players are facing challenges in production and distribution channels. China is the largest market for Isophthalic Unsaturated Polyester Resins. The effect of COVID-19 on Chinese economy greatly affects the growth trajectory of this market.
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Key Takeaways of Isophthalic Unsaturated Polyester Resin Market Study
- Dicyclopentadiene Unsaturated Polyester or DCPD – UPR is the most popular product type. The segment accounts for more than 35% share of the total market value on the back of increasing applications in large, glass-fibre reinforced plastic products.
- Higher flexibility and tensile strength make Isophthalic products the highest growing product type segment. Isophthalic products will grow at a flourishing 6.5% CAGR through 2029.
- Building & Construction end-use segment is the most remunerative avenue for Isophthalic Unsaturated Polyester Resin manufacturers. The segment holds more than 26% share of total market revenues and will grow 1.4X between 2019 and 2029.
- Marine, transport, and artificial stones are financially rewarding end-use segments for market players. Among these, transport is the most rewarding with an impressive 7.2% CAGR during the forecast period.
- East Asia accounts for a majority share of more than 40% of the total market value. Multiplying infrastructure investment by countries such as China, and Japan will continue to strengthen growth in this region.
- South Asia & Oceania is the most lucrative region with 6.7% CAGR through 2029. Booming automotive industry, and the need for energy efficient infrastructure in Indonesia, Singapore, and Malaysia contribute to the growth potential of this region.
Global Isophthalic Unsaturated Polyester Resin Market: In-Depth Assessment on Key Segments
The global Isophthalic Unsaturated Polyester Resin market is segmented on the basis of product, end-use, and region.
Product
- DCPD
- Orthophthalic
- Isophthalic
- Others
End-Use
- Building & Construction
- Tanks & Pipes
- Electrical
- Marine
- Transport
- Artificial Stones
- Others
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
Building & Construction to Pave Way for COVID-19 Recovery
Current situations pose a tough challenge for market players. The loss of productive employee hours, and disruption of the supply chain are main concerns. However, recovery strategies must involve targeted building & construction projects post the pandemic. Increasing application of Isophthalic Unsaturated Polyester Resin in roofing, reinforcing, and fitting components is a major growth driver for the market. This traction can be attributed to anti-corrosive and high-strength properties of composites made from Isophthalic Unsaturated Polyester Resins. Favorable government initiatives such as LaGuardia & O’Hare airport construction in the US, Beijing airport construction in China, and Make in India program are favorable regional trends. Another driver of market growth is the urgent need to increase the fuel efficiency of the automotive industry. Isophthalic Unsaturated Polyester Resins are employed in producing light-weight, high-tensile strength components to reduce vehicle weight and increase fuel efficiency.
Find More Valuable Insights on Isophthalic Unsaturated Polyester Resin Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the Isophthalic Unsaturated Polyester Resin market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2029. The study divulges compelling insights on the Isophthalic Unsaturated Polyester Resin market on the basis of product (DCPD, orthophthalic, isophthalic, and others), end-use (building & construction, tanks & pipes, electrical, marine, transport, artificial stones, and others), and across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).
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More Valuable Insights on Isophthalic Unsaturated Polyester Resin Market
Fact.MR, in its latest report, presents a detailed analysis of the global Isophthalic Unsaturated Polyester Resin market. The study divulges essential insights on the Isophthalic Unsaturated Polyester Resin market on the basis of product (DCPD, orthophthalic, isophthalic, and others), end-use (building & construction, tanks & pipes, electrical, marine, transport, artificial stones, and others), and region (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA)
Key Questions Covered in the Report
- What will be the future outlook for the market?
- What are the latest technology used in Isophthalic Unsaturated Polyester Resin market?
- Which is the most lucrative segment for Isophthalic Unsaturated Polyester Resin?
- Which are the factors that will drive the demand for Isophthalic Unsaturated Polyester Resin sales?
- Which region is the largest consumer for Isophthalic Unsaturated Polyester Resin?
- What is the impact of COVID-19 on Isophthalic Unsaturated Polyester Resin market?
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