Saturated Polyester Resin Market Size, Share, And Growth Report 2032

Saturated Polyester Resin Market Size

According to Zion Market Research, the global Saturated Polyester Resin Market was worth USD 4.29 Billion in 2023. The market is forecast to reach USD 7.27 Billion by 2032, growing at a compound annual growth rate (CAGR) of 6.02% during the forecast period 2024-2032.

The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Saturated Polyester Resin Market industry over the next decade.

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Global Saturated Polyester Resin Market: Overview   

Rapid industrialization and modernization witnessed across developing nations and escalating need for manufacturing eco-friendly products will propel the saturated polyester resin market growth within the near future. Besides, the growing preference for Bisphenol A free also as epoxy free coatings including escalating demand for saturated polyester resin from developing economies will lucratively leverage the saturated polyester resin market growth over the forthcoming years.

High manufacturing costs of the merchandise as compared to other resin types, however, will impede the expansion of the saturated polyester resin market in the near future. Nevertheless, strict government legislations on VOC emissions resulting in large-scale acceptance of environment-friendly technologies substituting solvent-borne coatings will enhance the saturated polyester resin market demand, normalizing the impact of hindrances on the saturated polyester resin market expansion, reports the study.

COVID-19 Impact Analysis:

Due to government-imposed lockdowns to prevent the spreading of COVID, the global Resin industry has seen a small decrease in revenues in the short term. Because of the increasing infections and curbs, sales of Resin are likely to suffer across the globe. Owing to the pandemic, paints & coatings, adhesives, composites, and electronic encapsulation industries have been shut down across all economies, potentially reducing production and its usage. However, amid the pandemic, there has been a surge in product demand for applications such as paints and coating, and electronic encapsulation, which in turn, provides an opportunity post covid. Various scenarios have been analyzed based on inputs from various secondary sources and the current data available about the situation.

Saturated Polyester Resin Market Growth Factors

The global saturated polyester resin market is expected to witness significant growth over the forecast period. Global industrial and consumer demand is expected to be the key factor for market growth over the next seven years. Various properties such as weather, humidity, and heat resistance along with the excellent finish provided by many coatings are expected to drive the market demand.

Polyesters are the group of polymers obtained from the condensation reaction between polyols and acid. The saturated polyester resin contains terminal hydroxyl groups. The saturated polyester resin contains terminal hydroxyl groups which are mostly utilized in the coatings industry.  The saturated polyester resin is generally combined with amino cross-linking resin for producing paint system, or it is mixed with polyisocyanate to form a two-component polyurethane system which is used as room-temperature-curing.

The saturated polyester resin is heat resistant, water, and humidity resistance. Therefore, saturated polyester resins find its application in several industries such as in paint and coating industries which are expected to drive the market   growth in the coming years. Growing industrial sector is expected to spur the growth of the market in the coming years. Stringent regulations imposed by the governing bodies on VOC emissions have led to the development of eco-friendly technologies which are replacing solvent-borne coatings.

This, in turn, may foster the demand for saturated polyester resin. However, the environmental concern due to the emission of the harmful chemical at the time of manufacturing of saturated polyester resin may restrict the growth of saturated polyester resin market. Also, the high cost of production as compared to other resins may hinder the market growth. Nevertheless, increasing demand for BPA (Bisphenol A) free and epoxy free coating along with growing demand for saturated polyester resin from the emerging countries is likely to positively impact on saturated polyester resin market in the coming years.

Saturated Polyester Resin Market: Segmentation

The main types available in the global saturated polyester resin market are solid saturated polyester resin and liquid saturated polyester resin. Among the two, the demand for the liquid saturated polyester resin is relatively higher and the trend is anticipated to remain so over the next few years. Some of the widespread applications of saturated polyester resin are coil & can coatings, flexible packaging, industrial paints, 2k Pu coatings, automotive paints, and other applications. 

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Saturated Polyester Resin Market: Report Scope

Saturated Polyester Resin Market: Regional Analysis

Geographically, Asia Pacific has been leading the worldwide saturated polyester resin market and is anticipated to continue on the dominant position in the years to come, states the market study. The elevated product consumption in plethora of industrial applications is the main factor behind the dominance of the APAC saturated polyester resin market. Countries such as India, Japan, and China are likely to be key regional revenue pockets over the coming years, subject to exponential growth of power coatings sector in these regions.

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Asia Pacific is witnessing predominant growth for the saturated polyester resin in recent times and is to gain traction in the forecast period. A large number of consumers from India and China along with rapidly growing power coating industry, in turn, is expected to result in the growth of saturated polyester resin market. Europe is the second largest market for saturated polyester resin followed by North America in 2015. This is mainly due high demand for saturated polyester resin in U.S and Germany. Latin America is anticipated to experience decent growth over the coming years. The Middle East and Africa are likely to exhibit lucrative growth in the forecast period.

Saturated Polyester Resin Market: Competitive Players

• Nuplex Industries Ltd
• Royal DSM N.V.
• Nippon Gohsei
• Allnex Belgium SA/NV
• Evonik Industries
• Arkema S.A
• Covestro AG
• Stepan Company
• Megara Resins
• Hangzhou Sino French
• Bayer Coatings
• Hitachi Chemicals

The global Saturated Polyester Resin Market are segmented as follows:  

By Type

• Solid saturated polyester resin
• Liquid saturated polyester resin

By Application 

• Coil & can coatings
• Flexible packaging
• Industrial paints
• 2k Pu coatings
• Automotive paints
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa