Saturated Polyester Resin Market to Expand Their Businesses $3.34 Bn by 2021

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Saturated Polyester Resin Market to Expand Their Businesses $3.34 Bn by 2021

According to the report, global saturated polyester resin market was valued at over USD 3.34 Billion in 2015, is expected to reach above USD 4.64 Billion in 2021 and is anticipated to grow at a CAGR of slightly above 5.80% between 2015 and 2021.

Polyesters are the group of polymers obtained from the con`densation 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.

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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.

On the basis of types, the saturated polyester resin market can be segmented as solid saturated polyester resin and liquid saturated polyester resin. Liquid saturated polyester resin emerged as the potent segment among all in 2015 owing to its extensive usage in the coating industry as automotive paints and industrial paints. Numerous applications of saturated polyester resins are coil & can coatings, flexible packaging, industrial paints, 2k PU (polyurethane) coatings, automotive paints and other applications. The coating was the leading segment of the market in 2015 with a significant market share. Saturated polyester resin possesses properties such as weather resistance, high impact strength and holds good adhesion, therefore, they are highly utilized in the coating industry. This factor has led to the increase in demand for saturated polyester resin which in turn is expected to drive the demand for the market in the near future.

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.

Some of the global major players in the saturated polyester resin are 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 and Hitachi Chemicals among others.

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