Research Nester Analytics LLC assesses the growth of the global unsaturated polyester resin market which is anticipated to be on account of the growing wind energy industry.
New York – April 14, 2022 - Research Nester’s recent market research analysis on “Unsaturated Polyester Resin Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of the global unsaturated polyester resin market in terms of segmentation by product, end-user, and by region
Growing Wind Energy Industry to Drive Growth of the Global Unsaturated Polyester Resin Market
The demand for wind energy is growing strongly with the shifting trend toward renewable energy sources. This is resulting in an upsurge of offshore wind turbines being constructed, but also a trend can be seen towards longer onshore wind turbine blades to reduce costs per megawatt-hour (MWh). The increasing size of wind turbine blades presents a big challenge to engineers and designers to design lightweight structures that meet the requirements in terms of stiffness and, predominantly, fatigue. Currently, unsaturated polyester resins are the most commonly used polymer for wind turbine blades owing to their ease of processing. The production of large parts required to build wind power plant constructions has importantly influenced R&D activities in the resin.
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The global urban population continues to grow at a positive rate, increasing demand for construction activities and so thus unsaturated polyester resins.
Growth Drivers:
• Rising Preference for Eco-based materials
• Increasing Passenger Vehicle Production.
Challenges:
The use of styrene in the production of unsaturated polyester resins is one of the main problems facing the industry. Since styrene is primarily used in the production of unsaturated polyester resins, monomer-free UPRs are being developed to meet the growing demand for an alternative and lower VOC emissions.
By product, the unsaturated polyester resin market is categorized into dicyclopentadiene (DCPD), orthophthalic, and isophthalic. By the end of 2035, the isophthalic segment is anticipated to garner the largest revenue with a CAGR of 6.4%. The growth is mainly attributed to the properties offered by isophthalic, such as chemical resistance, UV resistance, water and moisture resistance, and thermal stability.
By region, the North America unsaturated polyester resin market is to generate notable revenue by the end of 2035. The growth is mainly attributed to the surging infrastructure development in the region. Moreover, there is research and development going on for the production of sustainable resins, that are bio-based in the North America region. Furthermore, the increased availability of proactive production technologies has widened the market’s growth in the region.
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This report also provides the existing competitive scenario of some of the key players of the global unsaturated polyester resin market which includes company profiling of KITAMURA CHEMICALS CO., LTD., DIC Corporation, U-PICA Company. Ltd., Japan Composite Co., LTD., BASF SE, UPC Technology Corporation, Eternal Materials Co., Ltd., Scott Bader Company Ltd, Resonac Holdings Corporation, and Qualipoly Chemical Corporation (QPC).
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