/PRNewswire/ -- According to the new market research report "Unsaturated Polyester Resins Market by Type (Ortho phthalic, Isophthalic & DCPD
Unsaturated polyester resins are a group of thermosetting plastics commonly used in the manufacture of reinforced fiber and composite materials. They are most often used in glass-reinforced plastic (GRP) products, such as boats, bathtubs, showers, tanks, pipes, and other products requiring superior strength and corrosion resistance. They are also used in the manufacture of adhesives and coatings. Unsaturated polyester resins are also used in automotive, aerospace, construction, and other industries.
The unsaturated Polyester Resin (UPR) market is projected to grow from USD 9.6 billion in 2021 to USD 12.9 billion by 2026, at a CAGR of 6.1% between 2021 and 2026. The driving factor for the UPR market is high growth in construction and wind energy industries, growth in end-use industries like FRP, automotive, & composites manufacturing, and affordability of UPR over other resins.
The companies are majorly following merger & acquisition and new product development as the strategies to grow and expand the market. The key players following the strategies between 2016 to 2021 are Polynt-Reichhold Group (US), INEOS Composites (UK), LERG SA (Poland), SHOWA DENKO K.K. (Japan) and AOC (US). Following these strategies are helping the companies to strengthen their market position and increase their presence in emerging countries.
Polynt-Reichhold Group is one of the largest producers of specific polymer intermediaries, dibasic acid, UPR, compounds, composites, and special esters. The products are segmented into five categories: special-purpose plasticizers, resins & compounds, maleic anhydride & catalysts, phthalic anhydride & general-purpose plasticizers, and special esters. The company’s products are serving the end-use industry like electrical & electronic materials, construction, transportation, food & fragrances, consumer goods, and household applications with 41 plants around the world. In May 2017, Polynt and Reichhold completed its merger to create a global specialty chemicals group. This has made the group a top player of the UPR industry.
AOC is the leading global supplier of specialty resins and solutions as it provides products and components for applications in coatings and protective barriers, colorants and visual effects, adhesives and specialties, and composite resins. The company operates globally through its subsidiaries, such as AOC India Pvt. Ltd. (India), AOC Ltd. (UK), AOC Canada Inc. (Canada), and AOC Mexicana S.A. De C.V. (Mexico). The company has followed merger and acquisition strategy to become one of the key leader of UPR market. In August 2018, AOC and Aliancys announced the official creation of a new combined company named AOC Aliancys, which will be a global supplier of polyester and vinyl ester resins, gel coats, and other materials used in the composites industry. In addition, in July 2020, AOC has acquired Maleic anhydride business of Ashland with USD 100 Million deal size which will help them to expand its product range in unsaturated polyester resins.
