Bharat Book Bureau Provides the Treding Market Research Report on "Polyester Resin: Global Markets" under Chemical & Materials Category. The report offers a collection of superior market researach, market analysis, competitive intelligence and Market reports.
The Global Polyester Resin Market is estimated to reach around REDACTED by 2026 (post-COVID-19 scenario), growing at a CAGRof REDACTED during the forecast period (2020-2026). Polyester resin is viscous,pale-colored composite, that is widely used in marine, paint and coatings, tanks and pipes and construction industries. Polyester resin is an economical and widely-usedmatrix in the resin family.
The addition of styrene (up-to 50.0%),makes the resin easier to handle, as styrene tends to reduce the viscosity of polyester resin.Many polyester structures are used in industry today,which displays a wide range of the resins’ properties and applications. Therefore, it is considered a major chemical compound
in the chemical industry.
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The Global Polyester Resin market is expected to growconsiderably during the forecast period due to increasing demand forpolyester resin in buildings and construction, paint and coatings, tanks and pipes and in the marine industry. The continuous construction of skyscrapers and smart city projects in emerging economies, such as India and China, offer growth opportunities to the global polyester resin market. Accord ing to the Institution of Civil Engineers (ICE), the global construction industry is expected to reach $8 trillion by 2030, primarily driven by China, India and the U.S. In Europe, the construction industry has grown substantially and it is expected to record an average year-on-year growth of about
REDACTED over the next fewyears.
Increasing demand forpolyester resin fromthe paint, coatings and energy industries drives the global polyester resinmarket.Good corrosion resistance, high temperature tolerance, goodmechanical properties and ease of manufacturing are key benefits of using polyester resin. According to Coatings World, the market value of coatings is continuously increasing, thereby initiating growth in the polyester resin market.Government projects in renewable energy offer growth to the market during the forecast period. For instance, in India, the PradhanMantri Kisan Urja Suraksha evamUtthaanMahabhiyaan (PM KUSUM) launched in 2019, aiming to add solar and other renewable capacities of 25,750 MWby 2022.
Continuous growth in the demand forpackaged food items due to rising disposable income, along with the availability of different flavors, supports the growth of polyester resin in the packaging industry. The prospect of environmentally-friendly/bio-based polyester resin is expected to offer growth opportunities in the polyester resinmarket during the forecast period. Rising awareness among consumers and organizations regarding environmental impact and sustainability of chemical products minimizes the environmental footprint of chemicals,worldwide. Considerable growth can be expected in the polyester resinmarketwith thewidespread introduction of bio-based polyester resin soon.
However, certain factors impede global market growth: instability of raw material prices and characteristic disadvantages of polyester resin versus epoxy resins. There has been a recent spike in the price of raw materials (maleic anhydride) In 2019, methylmethacrylate prices increased by 30.0% and polyester, epoxy and polyurethaneresin prices have also increased significantly. Due to fluctuating raw material prices, the cost of end-products of polyester resinwill increase and consumption is expected to decrease, negatively affectingmarket growth.
The outbreak of the COVID-19 pandemic is expected to impact polyester resinmarket growth in 2020 and in subsequent years. Report Research, the globalmarket is expected to decline around REDACTED.
The report offers an exhaustive description and evaluation of the global polyester resin market. It provides in-depth qualitative and quantitative insights, aligning with the goals and objectives of our intended customers. Projections are verified through intensive primary and secondary research.
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