Saturated Polyester Resin Market Size and Investment Feasibility Analysis Report 2022

Global saturated polyester resin market is expected to witness considerable growth in the next few years. This can be majorly attributed to key rendering factors including superior mechanical properties leading to improved performance, stringent governmental policies regarding environmental apprehensions and VOC emissions. Rising demand for polyester resins across the consumer and industrial sectors is anticipated to drive market growth in the foreseeable future. Further, protective coatings available in the market that ensure protection from extreme weather conditions, humidity and heat resistance coupled with excellent finishing is expected to serve the saturated polyester resin market demand.

Stringent government regulations are anticipated to drive the saturated polyester resin demand over the forecast period. Government policies in various countries such as China, India and Malaysia are anticipated to boost demand for saturated polyester resins in the foreseeable future. Technological improvements and new product developments in the production of new end-user applications are projected to stimulate market demand over the forecast period.

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On the basis of application, the saturated polyester resin market is segmented into flexible packaging, powder coatings, coil& can coatings, automotive paints, Polyurethane coatings and industrial paints. The saturated polyester resin market is anticipated to be primarily driven by powder coatings on account of growing demand for in end-user industries such as automotive, metal furniture and appliances in the forecast period. Powder coatings on saturated polyester resin showcase excellent impact strength, adhesion to metals and good weather resistance. They are therefore appropriate for applications including in coating machinery, domestic appliances, exterior and interior architectural applications, garden tools and steel furniture. Appliances coating industry is anticipated to account for nearly one-fourth of the overall global market by revenue for saturated polyester resin followed by automotive and general industrial coatings sector. Rising demand for automobiles along with growth in the production of automobiles is expected to serve the automotive paints market over the forecast period.

In the recent past, Asia Pacific emerged as the most dominant automobile production sector followed by Europe and North America. However, due to the economic downturn and recession in 2008, the automobile industry in Europe was affected to a great extent. Increase in disposable income, improving standard of living and growing population base is expected to result in the highest growth in demand for automobiles. On the other hand, demand for polyurethane coatings is anticipated to experience considerable growth on account of its widespread usage in the construction industry for various applications such as thermal insulators, flooring materials and sealants. Further, the market is expected to witness growth owing to penetration of waterborne coatings and various governmental norms & regulations.

Growing market competition due to large number of new entrants may pose a challenge for the existing market players. Additionally, use of chemicals in the manufacturing process have resulted in environmental concerns and may inhibit the saturated polyester resin market growth over the next few years. Other factors restraining the market include cost competitiveness with alternate resins such as vinyl-ester resin, unsaturated polyester resin and acrylic resins.

Asia Pacific is anticipated to be the major region for the saturated polyester resin market. Globalization and rapid urbanization in the region is projected to drive growth in market demand on account of rising demand for vehicles. China is the largest player in the region followed by Japan, Malaysia and India. Further, various governments’ initiatives in emerging economies of Malaysia and India such as Economic Transformation Program in Malaysia and Special Economic Zone in India are estimated to increase the saturated polyester resin demand over the next few years

Likewise, the Philippines, government in 2010 had announced public-private business strategy which is may augment the polyester resin demand. Additionally, efforts by the real estate sector in countries such as India, Thailand, Malaysia and China is expected to boost the polyester resin demand in these countries. Electronics industry in countries like China, South Korea and Japan has been flourishing in the past few years and is expected to stimulate demand for saturated polyester resins in Asia Pacific. With the decline of economic slowdown in EU, it is anticipated that countries within the continent such as France and Germany would re-establish their economic stability.

Key industry participants dominating the saturated polyester resin market include Allnex, Arkema Coating Resins, Bayer Coatings, DSM Resins and Hangzhou Sino French. Other market players include companies such as Hitachi Chemicals, Nippon Gohsei, Nuplex. Innovative and Evonik Industries M&A, new product development, joint ventures, expansion of the existing facilities and partnerships are some of the major strategies adopted by these companies in the past few years.

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