Market Summary: The global market for Polyester Resins is projected to experience a growth rate of 5.7%, surging from USD 9.82 billion in 2019 to USD 15.33 billion by 2027. This expansion is primarily attributed to advancements in the buildings and construction sector, which are expected to drive the demand for polyester resins. Additionally, the rising adoption of eco-friendly and energy-efficient products is poised to positively impact market growth.

Government regulations favoring the industry and strategic initiatives aimed at infrastructure development will also play a significant role in promoting market expansion. Furthermore, increased foreign investment and trade promotion will contribute to the growth of the market. The widespread availability of polyester resins to end-users through improved product distribution channels is also bolstering market growth.

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Polyester resins are witnessing growing demand owing to their attributes of lightweight, enhanced durability, and cost-effectiveness. These resins find application in various sectors, such as concrete forming pans, doors, electrical boxes, building panels, shower stalls, and floor grafting. Additionally, they are utilized in the production of recreational products like powerboats, sailboats, kayaks, and personal watercraft. The increasing demand for improved consumer lifestyles will further boost the market's growth. However, product exposure and storage regulations may hinder the demand for polyester resins.

Type Outlook: Isophthalic resins are tailored for applications requiring corrosion resistance, as they exhibit good resistance to acids, water, and petroleum solvents. Common uses include tank linings, vessels, fume hoods, and ducting. These resins are cost-effective and offer better flexibility, substantially higher strength, and chemical resistance.

Orthophthalic resins are widely used in fiberglass reinforcement plastics and are extensively demanded in the construction sector. The emerging construction activities in various countries will foster demand for these resins. However, the threat of substitution may impede the demand for orthophthalic resins. The rise in radioactive waste treatment processes, on the other hand, presents growth opportunities.

End Users Outlook: The demand for polyester resins in the pipes and tanks segment is driven by growing concerns about corrosion in metal pipes and tanks and the increasing importance of tank farm management in offshore and onshore gas and oil applications. The marine and chemical industries are also major contributors to the demand. Additionally, the adoption of polyester resins in land transportation and building & construction will further augment the market demand.

Regional Outlook: Asia Pacific, particularly China, is expected to witness the highest demand for polyester resins. The region benefits from end-use industries such as electronics, construction, marine, and transport. Furthermore, the sale of vehicles in countries like Japan, China, and India will fuel the demand for polyester resins. Initiatives such as "Make in India" by the Indian government will also stimulate demand.

In Europe, polyester resins accounted for a significant share of 19.0% in 2019. Stringent government regulations regarding automotive parts recycling and higher profitability may hinder further demand.

Market-O-Nomics: Dicyclopentadiene finds application in various types of resins, including aromatic hydrocarbon resins, epoxy resins, acrylates, phenolic resins, unsaturated polyester resins, lattices, specialty resins, and other intermediates.

The wind energy segment is projected to witness the highest Compound Annual Growth Rate (CAGR) of 6.4% during the forecast period due to the increasing consumption of power energy, depletion of fossil fuels, and price volatility, driving the demand for alternative wind energy sources.

The rising adoption of electric automotive by businesses and consumers is also a significant factor encouraging the demand for polyester resins. The electrical & electronics segment is expected to grow with a CAGR of 6.2% during the forecast period.

North America held a market share of 20.5% in 2019, primarily driven by the rising marine, construction, and electrical industries. Increased investments in the United States and Canada will further propel the polyester resin market.

Companies and Strategies: Prominent manufacturers of Polyester Resins, such as Ashland Inc., Polynt, BASF SE, Reichhold Inc., Royal DSM, AOC LLC, Nuplex Industries Ltd., UPC Technology Corp., Scott Bader Company Ltd., and U-Pica Company Ltd., have been profiled in the report. These players have implemented various strategies related to the market between 2018 and 2020.

In August 2020, RIM Process introduced wheels for specialty vehicles used in space and military exploration applications. These wheels are molded from a Dicyclopentadiene-based thermoset resin, known for its high strength, lightweight, and high heat tolerance.

Start-up Traction: The Polyester Resins industry offers numerous growth opportunities, attracting various startups with innovative products and technologies. As technology infiltrates the market, new startups are trying to make their mark in the industry.

Deals Landscape: Mergers and acquisitions are integral to the Polyester Resins industry, with key market players and other companies entering the market.

Expert Insights: Industry analysts predict encouraging advances in the adoption of Polyester Resins. New entrants must focus on innovation, technology integration, reduced complexity, and lower operational costs. Implementing emerging technology in developed nations is seen as a critical growth field for the industry. Companies concentrate on product launches and negotiations to increase their market share and scale, driving technological advancements and product diversification in untapped regions.

Segments Covered: The report provides revenue forecasts for various segments of the global Polyester Resins market, including type, end-users, and region, from 2018 to 2027. The segments covered are Orthophthalic Resins, Dicyclopentadiene (Dcpd) Resins, Isophthalic Resins, Terephthalic Resins, Gelcoat Resins, Chlorendic Resins, Building & Construction, Marine, Pipes & Tanks, Land Transportation, Electrical & Electronics, Artificial Stones, Wind Energy, North America, Europe, Asia Pacific, Latin America, and MEA.

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