Unsaturated Polyester Resin (UPR) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The unsaturated polyester resin (UPR) market was estimated at USD 9,655.92 million in 2020, and it is expected to register an estimated CAGR of 4.69% over the forecast period (2021-2026).
The automotive industry was affected negatively due to COVID-19. Automotive production has witnessed a significant decline owing to the COVID-19 pandemic. According to OICA, global automobile production declined by around 16% in the year 2020 compared to 2019. This, in turn, has negatively impacted the unsaturated polyester resin market. Many UPR manufacturing companies and raw material manufacturers have had extended closure of all their operations at their manufacturing locations till receipt of further directions from the government authorities. The relaxation of lockdown and the production at a few manufacturing companies being resumed is an encouraging sign.
Key HighlightsThe unsaturated polyester resin (UPR) market is fragmented, with the presence of both multinational and domestic players. The top 4-5 players account for a noticeable share of the region’s market demand. Some of the major companies in the market include AOC, Reichhold LLC, INEOS, Scott Bader Company Ltd, Xinyang Technology Group, and Interplastic Corporation, among others.
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