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Polyester Resin: Global Markets

·6-min read

Report Scope: The report offers an exhaustive description and evaluation of the global polyester resin market. It provides in-depth qualitative and quantitative insights, aligning with the goals and objectives of our intended customers.

New York, Nov. 03, 2020 (GLOBE NEWSWIRE) -- announces the release of the report "Polyester Resin: Global Markets" -

Projections are verified through intensive primary and secondary research. This report will enable clients to invest in the global polyester resin market knowing the current business scenario, trends and future development expectations in each segment.

With the client’s needs in mind, the report provides expert insight into the global polyester resin industry, its services and market trends. The market is forecast through a bottom-up approach, including an evaluation of the market through revenue generated by key vendors.

It consists of market statistics from affirmed private publishers and various public organizations. The data encompasses the newest industry players and pre-eminent company profiles. The information is thoroughly examined through extensive primary and secondary research carried out by research analysts.

The global polyester resin market has been segmented on the basis of resin type, form and end-user. Geographically, the market has been divided into North America, Europe, Asia-Pacific (APAC) and the Rest of the World (RoW).

Furthermore, a country specific breakdown of the market is also included in the report. Countries were included mainly on the basis of total revenue generated.

Major countries included in the report are the U.S., Canada, Germany, the UK, Spain, Italy, France, China, Japan, South Korea and India. Sales data for global and regional markets were corroborated for the present and forecasted values based on statistical analysis.

Estimated values used are based on market players’ total revenues and forecasted revenue values are in constant U.S. dollars, unadjusted for inflation. Annual reports and forward-looking statement of global polyester resin market players, annual sales of market players and average cost of raw material and services are considered for market estimations. Many global polyester resin market players and potential startups are profiled in the report in order to better understand the market.

This report on the polyester resin market provides a market overview and detailed segmental analysis of the market including resin type, form and end-use industry. The company profiles in this report include a detailed introduction, product portfolios and recent developments.

The report also includes regulatory aspects, current and developing technologies, market projections and market share.

Report Includes:
- 35 data tables and 27 additional tables
- An overview of the global polyester resin market and description of its applications in various sectors
- Estimation of the market size and analyses of global market trends, with data from 2019, estimates for 2020 and projections of compound annual growth rates (CAGRs) through 2026
- Impact analysis of COVID-19 pandemic on polyester resins market and highlights of the new products and technologies within the industry
- Analysis of market trends and explanation of factors driving and restraining the growth and a relevant patent analysis
- Market share analysis of the key companies of the industry and coverage of events like mergers & acquisitions, joint ventures, collaborations or partnerships, and other key market strategies
Comprehensive company profiles of major players of the industry, including Alchemie Ltd., BASF SE, Deltech Corp., Mechemco Resins Pvt., Ltd., Polynt SpA and SABIC

The global polyester resin market is estimated to reach around REDACTED by 2026 (post-COVID-19 scenario), growing at a CAGR of REDACTED during the forecast period (2020-2026).Polyester resin is viscous, pale-colored composite, that is widely used in marine, paint and coatings, tanks and pipes and construction industries.

Polyester resin is an economical and widely-used matrix in the resin family. The addition of styrene (up-to 50.0%),makes the resin easier to handle, as styrene tends to reduce the viscosity of polyester resin. Many polyester structures are used in industry today, which displays a wide range of the resins’ properties and applications. Therefore, it is considered a major chemical compound
in the chemical industry.

The global polyester resin market is expected to grow considerably during the forecast period due to increasing demand for polyester resin in buildings and construction, paint and coatings, tanks and pipes and in the marine industry. The continuous construction of skyscrapers and smart city projects in emerging economies, such as India and China, offer growth opportunities to the global polyester resin market.

According to the Institution of Civil Engineers (ICE), the global construction industry is expected to reach $8 trillion by 2030, primarily driven by China, India and the U.S. In Europe, the construction industry has grown substantially and it is expected to record an average year-on-year growth of about
REDACTED over the next few years.

Increasing demand for polyester resin from the paint, coatings and energy industries drives the global polyester resin market. Good corrosion resistance, high temperature tolerance, good mechanical properties and ease of manufacturing are key benefits of using polyester resin. According to Coatings World, the market value of coatings is continuously increasing, thereby initiating growth in the polyester resin market. Government projects in renewable energy offer growth to the market during the forecast period. For instance, in India, the Pradhan Mantri Kisan Urja Surakshaevam Utthaan Mahabhiyaan (PM KUSUM) launched in 2019, aiming to add solar and other renewable capacities of 25,750 MW by 2022.

Continuous growth in the demand for packaged food items due to rising disposable income, along with the availability of different flavors, supports the growth of polyester resin in the packaging industry. The prospect of environmentally-friendly/bio-based polyester resin is expected to offer growth opportunities in the polyester resin market during the forecast period.

Rising awareness among consumers and organizations regarding environmental impact and sustainability of chemical products minimizes the environmental footprint of chemicals, worldwide. Considerable growth can be expected in the polyester resin market with the widespread introduction of bio-based polyester resin soon.

However, certain factors impede global market growth: instability of raw material prices and characteristic disadvantages of polyester resin versus epoxy resins. There has been a recent spike in the price of raw materials (maleic anhydride) In 2019, methyl methacrylate prices increased by 30.0% and polyester, epoxy and polyurethane resin prices have also increased significantly. Due to fluctuating raw material prices, the cost of end-products of polyester resin will increase and consumption is expected to decrease, negatively affecting market growth.

The outbreak of the COVID-19 pandemic is expected to impact polyester resin market growth in 2020 and in subsequent years.
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