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Liquid Saturated Polyester Resin Market Segmented: By Application (Can & Coil Coatings, Automotive Coatings, 2K PU Coatings and Others); By End-Use (Food & Beverages, Industrial, Construction, Automotive and Others); and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
[ 170 + Pages Research Report ] Liquid Polyester Resin Market value is estimated at US$2.83 billion in 2020 and is expected to grow at a CAGR of 4.2% during the forecast period of 2021-2030 to reach US$4.89 billion in 2030.
Saturated polyester resin in which the polyester backbone is saturated is termed liquid saturated polyester resin. Saturated polyester is less reactive in comparison to unsaturated polyester resins. These unveil low molecular weight and can be utilized as a prominent reactant and plasticizer in the manufacturing of urethane polymers. They offer superior adhesion and excellent durability that makes them widely suitable for various applications like automotive paints, can & coil coating, industrial paints, flexible & rigid packaging, and others. They are also applied in anti-corrosion coatings on iron-steel structures having epoxy-based primers.
Global Liquid Saturated Polyester Resin Market is expected to project a notable CAGR of 4.2% in 2030.
As per analysis, the global liquid polyester resin market is anticipated to register significant growth during the forecast period, 2021-2030. The Global Liquid Polyester Resin Market value is estimated at US$2.83 billion in 2020 and is expected to grow at a CAGR of 4.2% during the forecast period of 2021-2030 to reach US$4.89 billion in 2030. This growth is anticipated due Increase in demand for consumer goods in various regions across the globe which will create a worldwide demand for Liquid Saturated Polyester Resin. Soaring demand for liquid saturated polyester resin from the packaging industry which comprises cans, containers, and boxes is projected to drive the growth of the global market. Changing lifestyle and increasing awareness related to the harmful effects of solvent-based products containing high VOC content is driving the growth of the global market.
Can & Coil Coatings segment to grow with the highest CAGR during 2020-30
Global Liquid Saturated Polyester Resin Market is bifurcated by application into Can & Coil Coatings, Automotive Coatings, 2K PU Coatings, and Others. Among these, the can & coil coatings segment held the largest market share of 34.5% in the year 2020. As per the Fatpos Global Analysis, can and coil coatings are the most dominant segment and thus, are expected to rise at a CAGR of 4.8% during the forecast period. Coil and can coating is applied on rolled metal strip continuously which consists of either one-sided or two-sided, multiple or single application of (liquid) paints or coating powders that are later laminated with cleaning, permanent plastic films, primer coat application, chemical pretreatment, curing, second curing, recoilers, etc.
Construction segment to grow with the highest CAGR during 2020-30
Global Liquid Saturated Polyester Resin Market is bifurcated by end-use into Food & Beverages, Industrial, Construction, Automotive, and Others. Among these, the construction segment held the largest market share of 30.1% in the year 2020. As per the Fatpos Global Analysis, construction is the most dominant segment and thus, is expected to rise at a CAGR of 3.7% during the forecast period. Low preference for polyester coatings from Automotive is observed because of low gloss and not grainy texture, hence the high preference for 2K PU coatings used in construction and food &beverage industries.
Proliferating demand for consumer goods
The increase in demand for consumer goods in various regions across the globe is driving the growth of the global market. Besides, escalating automotive production and sales accompanied, by rising consumption of automotive paints and coatings is anticipated to impel the growth of the global market.
Rapid industrialization and urbanization
Liquid saturated resin is extensively used in the production of industrial coil coatings. The growth of various general industries like steel, chemical, consumer goods, and fertilizer are projected to propel the growth of the global market. Thus, the rapid expansion of the end-use industries is expected to influence the demand patterns in the emerging economies positively. Also, accelerating construction activities in the developing and developed nations (rising investments for universities, stadiums, hospitals, and residential buildings) along with the growth of the paints & coatings industry is anticipated to provide new impetus to the growth of the global market.
Environmental concerns
Liquid polyester resins impose adverse impacts on the environment due to the emission of harmful chemicals at the time of their manufacturing process which restricts the growth of the global market. The liquid polyester resins have a strong styrene odor and the toxic nature of its fumes, especially of the catalyst, MEKP which imposes a safety risk demanding proper protection. Atmospheric pollution from explosion and styrene and fire risks from organic peroxides must be avoided.
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Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Liquid Saturated Polyester Resin Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. As per our estimates, Asia-Pacific’s Liquid Saturated Polyester Resin Market value is estimated at $1.09 billion in 2020 and is anticipated to grow at a CAGR of 4.2% during the forecast period of 2021-to 2030. Rising demand from numerous applications such as automotive, construction, and general manufacturing accelerates the demand for liquid polyester resins. Demand for the liquid saturated polyester resin is anticipated to rise across various countries such as China, Japan, South Korea, and India due to the expansion of end-use industries and rising customer base in the region. Easy availability of low-cost labor and raw material, and stringent regulatory framework are a few factors aiding the growth of the market in the region.
Global Liquid Saturated Polyester Resin Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
Liquid Saturated Polyester Resin Market Segments:
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