Analysis on New Product Launches in Covid-19 Related Markets-Global Unsaturated Polyester Resins Market 2020-2024 | Growing Shift toward Eco-friendly Products to Boost Market Growth | Technavio

The global unsaturated polyester resins (UPR) market is expected to grow by USD 3.31 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled Global Unsaturated Polyester Resins Market 2020-2024 (Graphic: Business Wire)

Technavio has announced its latest market research report titled Global Unsaturated Polyester Resins Market 2020-2024 (Graphic: Business Wire)

With the implementation of strict European Union (EU) regulations, which call for a reduction in the emission of VOC, the focus of vendors has shifted towards the development of eco-friendly chemicals. Such regulatory standards have led to a shift in the demand for green products (like UPR) from solvent-based epoxy resins. Unsaturated polyester resins are manufactured using an innovative process and renewable raw materials, and they do not contain solvents that evaporate during the curing phase. Thus, the growing shift toward eco-friendly products will drive the growth of the market during the forecast period.

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As per Technavio, the innovative products and applications of UPR will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Unsaturated Polyester Resins Market: Innovative Products and Applications Of UPR

As the demand for renewable and sustainable green resins is increasing, companies manufacturing UPR are constantly innovating products to differentiate UPR from the substitutes available in the market. Companies are researching on developing a monomer-free UPR to reduce VOC emissions. As such, UPR has replaced solvent-containing varnishes, which were used as secondary insulation material for windings in electrical motors. Varnishes contain about 50% of solvents that must be removed during the curing process. Therefore, the usage of monomer-free UPR can significantly reduce the emission levels during curing. Such innovations will drive the growth of the market.

“Factors such as the infrastructural developments in emerging economies, and the rise in demand for UPR with increasing wind power installation will have a significant impact on the growth of the unsaturated polyester resins market value during the forecast period,” says a senior analyst at Technavio.

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Unsaturated Polyester Resins Market: Segmentation Analysis

This market research report segments the unsaturated polyester resins market by type (orthophthalic resin, Isophthalic resin, DCPD resin, and others), end-user (building and construction, pipes and tanks, automotive, marine, electrical and electronics, wind energy, and others), and geography (APAC, North America, Europe, MEA, and South America).

The APAC region led the unsaturated polyester resins market in 2019, followed by North America, Europe, MEA, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the increased demand from major end-user industries such as composites and automotive manufacturing.

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Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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