Description
Global Liquid Saturated Polyester Resin Market Analysis and Forecast Report 2030
Product Overview
Saturated polyester resin in which the polyester backbone is saturated is termed as liquid saturated polyester resin. Saturated polyester is less reactive in comparison to unsaturated polyester resins. These unveil low molecular weight and can be utilized as a prominent reactant and plasticizer in the manufacturing of urethane polymers. They offer superior adhesion and excellent durability that makes them widely suitable for various applications like automotive paints, can & coil coating, industrial paints, flexible & rigid packaging, and others. They are also applied in anti-corrosion coatings on iron-steel structures having epoxy-based primers.
Market Highlights
Global Liquid Saturated Polyester Resin Market is expected to project a notable CAGR of 4.2% in 2030.
As per analysis, the global liquid polyester resin market is anticipated to register significant growth during the forecast period, 2021-2030. The Global Liquid Polyester Resin Market value is estimated at US$2.83 billion in 2020 and is expected to grow at a CAGR of 4.2% during the forecast period of 2021-2030 to reach US$4.89 billion in 2030. This growth is anticipated due Increase in demand for consumer goods in various regions across the globe which will create a worldwide demand for Liquid Saturated Polyester Resin. Soaring demand of liquid saturated polyester resin from the packaging industry which comprises of cans, containers, and boxes is projected to drive the growth of the global market. Changing lifestyle and increasing awareness related to harmful effects of solvent-based products containing high VOC content is driving the growth of the global market.
Global Liquid Saturated Polyester Resin Market: Segments
Can & Coil Coatings segment to grow with the highest CAGR during 2020-30
Global Liquid Saturated Polyester Resin Market is bifurcated by application into Can & Coil Coatings, Automotive Coatings, 2K PU Coatings and Others. Among these, can & coil coatings segment held the largest market share of 34.5% in the year 2020. As per the Analysis, can and coil coatings is the most dominant segment and thus, is expected to rise at a CAGR of 4.8% during the forecast period. Coil and can coating is applied on rolled metal strip continuously which consists of either one-sided or two-sided, multiple or single application of (liquid) paints or coating powders that are later laminated with cleaning, permanent plastic films, primer coat application, chemical pretreatment, curing, second curing, recoilers, etc.
Construction segment to grow with the highest CAGR during 2020-30
Global Liquid Saturated Polyester Resin Market is bifurcated by end-use into Food & Beverages, Industrial, Construction, Automotive, and Others. Among these, the construction segment held the largest market share of 30.1% in the year 2020. As per the Analysis, construction is the most dominant segment and thus, is expected to rise at a CAGR of 3.7% during the forecast period. Low preference for polyester coatings from Automotive is observed because of low gloss and not grainy texture, hence high preference from 2K PU coatings used in construction and in food &beverage industries.
Market Dynamics
Drivers
Proliferating demand for consumer goods
The increase in demand for consumer goods in various regions across the globe is driving the growth of the global market. Besides, escalating automotive production and sales accompanied, a rising consumption of automotive paints and coatings is anticipated to impel the growth of the global market.
Rapid industrialization and urbanization
Liquid saturated resin is extensively used in the production of industrial coil coatings. The growth of various general industries like steel, chemical, consumer goods, and fertilizer are projected to propel the growth of the global market. Thus, the rapid expansion of the end-use industries is expected to influence the demand patterns in the emerging economies positively. Also, accelerating construction activities in the developing and developed nations (rising investments for universities, stadiums, hospitals, and residential buildings) along with the growth of the paints & coatings industry is anticipated to provide new impetus to the growth of the global market.
Restraint
Environmental concerns
Liquid polyester resins impose adverse impacts on the environment due to the emission of harmful chemicals at the time of their manufacturing process which restricts the growth of the global market. The liquid polyester resins have a strong styrene odor and the toxic nature of its fumes, especially of the catalyst, MEKP which imposes a safety risk demanding proper protection. Atmospheric pollution from explosion and styrene and fire risks from organic peroxides must be avoided.
Global Liquid Saturated Polyester Resin Market: Key Players
Unitika Ltd
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
SK Chemicals Co., Ltd.
Royal DSM N.V.
TOYOBO CO. LTD.
Evonik Industries
Stepan Company
Arkema S.A.
Covestro AG
Thai Urethane Plastic Co., Ltd.
Nippon Gohsei
Other Prominent Players
Global Liquid Saturated Polyester Resin Market: Regions
Global Liquid Saturated Polyester Resin Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
As per our estimates, Asia-Pacific’s Liquid Saturated Polyester Resin Market value is estimated at $1.09 billion in 2020 and anticipated to grow at a CAGR of 4.2% during the forecast period of 2021-2030. Rising demand from numerous applications such as automotive, construction, and general manufacturing accelerates the demand for liquid polyester resins. Demand for the liquid saturated polyester resin is anticipated to rise across various countries such as China, Japan, South Korea, and India due to the expansion of end-use industries and rising customer base in the region. Easy availability of low-cost labor and raw material, stringent regulatory framework are a few factors aiding the growth of the market in the region.
Global Liquid Saturated Polyester Resin Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Liquid Saturated Polyester Resin Market report also contains analysis on:
Liquid Saturated Polyester Resin Market Segments:
By Application
Can & Coil Coatings
Automotive Coatings
2K PU Coatings
Others
By End-User
Food & Beverages
Industrial
Construction
Automotive
Others
Liquid Saturated Polyester Resin Market Dynamics
Liquid Saturated Polyester Resin Market Size
Supply & Demand
Market Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Global Liquid Saturated Polyester Resin Market Report Scope and Segmentation
Frequently Asked Questions
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