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.
Grand View Research has segmented the
global UPR market on the basis of product, end-use and region:
UPR Product Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2012 - 2020)
·
Orthopthalic
·
Isopthalic
·
DCPD
·
Others
UPR End-Use Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2012 - 2020)
·
Building & Construction
·
Tanks & Pipes
·
Electrical
·
Marine
·
Transport
·
Artificial Stones
·
Others
UPR Regional Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2012 - 2020)
·
North America
·
Europe
·
Asia Pacific
·
RoW
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.
For More Information: www.grandviewresearch.com
