Global Saturated Polyester Resins Market - Segmented by Type and Application - Growth, Trends, and Forecast (2018 - 2023)
The global saturated polyester resin market is expected to register significant growth during the forecast period of 2018-2023. The increasing demand for bio-based composites in the automotive industry is expected to drive the market over the forecast period.
Increasing Demand from the Booming Packaging Industry
Saturated polyester resins are used to manufacture polyester coatings, which are first-generation alternatives to epoxy coatings. Isophthalic acid (IPA) and terephthalic acid (TPA) are the main carboxylic acids used in polyester coatings. Even polyethylene terephthalate (PET) coatings are used to laminate packaging products, such as beverage cans. The demand for packaging materials, such as containers and cans, is propelling the demand for liquid saturated polyester resin, thereby boosting the demand for saturated polyester resins over the forecast period.
Powder Coatings Segment to Dominate the Market
Saturated polyester resins are primarily used to manufacture solvent-free powder paints and coatings. Owing to superior properties, such as good weather resistivity, excellent impact strength, and adhesion to metals (even under humid conditions), saturated polyester resins are favored for exterior and interior architectural applications, coating machinery, domestic appliances, steel furniture, and garden tools. The growing construction and automotive sector is expected to drive the usage of powder coatings, thus boosting the market studied during the forecast period.
Asia-Pacific to Dominate the Saturated Polyester Resin Market
Asia-Pacific accounted for the largest share of the saturated polyester resin market in 2017. Factors, such as stringent regulations to avoid VOC emissions, the rapidly growing construction industry in emerging economies, and increase in the number of automobiles, wooden furniture, and electronic appliances, are driving the Asia-Pacific powder coating market, in turn bolstering the growth of the regional saturated polyester resin market.
Key Developments in the Market
March 2018: Stepan Company expanded its Columbus, Georgia facility and decided to add an additional 20% of saturated polyester resin manufacturing output, to the existing manufacturing capacity of the company.
April 2017: Arkema launched an investment project worth USD 15 million at its Navi Mumbai site, for the construction of a new, leading class polyester powder resin manufacturing facility.
Major Players: Royal DSM NV, Stepan Company, Covestro, Nippon Gohsei, Arkema SA, and Megara Resins amongst others.
Reasons to Purchase this Report
Identify the current and future trends in the global saturated polyester resin market in the developed and emerging regions.
Analyze various perspectives of the market, with the help of Porter’s five forces analysis.
Information of the segments that are expected to dominate the market.
Identify the regions that are expected to witness the fastest growth during the forecast period.
Identify the latest developments, market shares, and strategies employed by the major market players.
3 months analyst support, along with the Market Estimate sheet (in excel).
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