Expansion of Saturated Polyester Resin Market During 2024 – 2030 to Gain Robust Traction: Grand View Research Inc.

 Saturated Polyester Resin Market Growth & Trends

The global saturated polyester resin market size is anticipated to reach USD 7.91 billion by 2030, growing at a CAGR of 5.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rising adoption of electrical vehicles (EVs) to reduce fossil fuel usage and the advent of technologies such as artificial intelligence (AI), cloud computing, edge computing and internet of things (IoT) is driving the market.

As more people and companies shift to EVs to reduce fossil fuel usage and environmental impact, the automotive industry needs high-performance materials for coatings and adhesives that offer durability, flexibility, and resistance to chemicals and weathering. Saturated polyester resins meet these needs perfectly, making them essential in the manufacturing and maintenance of EVs. Their use in protective coatings ensures the longevity and aesthetic appeal of EV components, which is crucial as the market for electric vehicles continues to expand.

Additionally, advancements in AI, cloud computing, and IoT technologies drive the production and use of sophisticated electronic devices and smart systems, which require reliable and durable materials. Saturated polyester resins are used in the coatings, adhesives, and encapsulation of electronic components, providing insulation, protection from environmental factors, and improved performance. As these technologies become more integrated into various industries, the demand for high-quality materials like saturated polyester resins continues to grow, supporting the overall market expansion.

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Saturated Polyester Resin Market Report Highlights

• Based on material, the solid saturated polyester resins segment held the largest share, accumulating 63.1% market size in 2023. This can be attributed to the growing demand for consumer goods products.
• Based on end use, the industrial paint segment is expected to grow at the fastest CAGR over the forecast period owing to the rapid industrialization of developing economies.
• Asia Pacific dominated the market due to growing industrial, automotive, and construction industry especially in Thailand, Philippines, Bangladesh, India, Indonesia, and Vietnam.
• China was the leading manufacturer of saturated polyester resin in the Asia Pacific region and captured around 47% of the revenue market share in 2023 in this region.

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Saturated Polyester Resin Market Segmentation

Grand View Research has segmented the global saturated polyester resin market based on material, end use, and region:

Saturated Polyester Resin Material Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

• Liquid Saturated Polyester Resins
• Solid Saturated Polyester Resins

Saturated Polyester Resin End Use Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

• Industrial Paints
• Powder coatings
• Coil & Can Coatings
• Automotive Paints
• Flexible Packaging
• 2k PU Coatings
• Others

Saturated Polyester Resin Regional Outlook (Revenue, USD Million; Volume, Kilotons, 2018 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK.
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa

List of Key Players in the Saturated Polyester Resin Market

• DSM
• Allnex GmbH
• Arkema
• IGM Resins
• Mitsubishi Chemical Group Corporation
• Polynt S.p.A
• Hexion
• Evonik Industries AG
• BASF SE
• Ashland Global Holdings Inc.
• Sika AG
• Covestro A

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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.