Liquid Saturated Polyester Resin Market Size

Liquid Saturated Polyester Resin Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

During the period from 2024 to 2032, the liquid saturated polyester resin market is expected to reach a size of USD 3.52 billion. It is expected to grow at a CAGR of 4.2% over the forecast period. The high demand for these resins is driven by their versatile applications in industries such as construction, consumer goods, and the automobile industry. Furthermore, the increasing preference for lightweight and durable materials in manufacturing processes will drive the market growth. The development of resin technology has enhanced their performance characteristics such as chemical resistance and thermal stability. Also, the increasing focus on the use of sustainable and eco-friendly products will encourage manufacturers to develop bio-based resins. In the coming years, major players such as BASF, DuPont, and Covestro are expected to invest in research and development to expand their product portfolio and improve their market share. This will help them gain a competitive advantage and meet the growing demand for sustainable and high-performance materials.

Regional Market Size

Regional Deep Dive

The global market for liquid saturated polyepoxide resins is experiencing a significant growth in demand, as a result of increasing demand from industries such as automobiles, construction, and electronics. In North America, the market is characterized by a strong focus on innovation and sustainable development. Among other things, this has led to a rise in the number of companies developing new, more environmentally friendly resins. Europe is characterized by strong regulations that encourage the use of high-performance materials, while Asia-Pacific is characterized by rapid industrialization and urbanization, which is expected to increase the demand for liquid saturated polyepoxide resins. The Middle East and Africa are experiencing growth as a result of increasing development of the construction industry, while Latin America is gradually adopting these materials as industry expands.

North America

• The United States EPA's tightening of volatile organic compounds has pushed manufacturers to develop low-VOC liquid saturated polyester resins, thus driving market growth.
• DuPont and BASF are now investing in the research and development of bio-based polyesters in response to the growing demand for sustainable and eco-friendly products.
• North American automakers are increasingly turning to liquid saturated polyester resins for their paints, in their quest for lightweight materials to reduce fuel consumption.

Europe

• REACH is pushing manufacturers to meet the stricter safety standards imposed by the European Union. This has resulted in the development of safer and more sustainable liquid saturated polyolefins.
• Especially in the field of automobiles and aeronautics, innovations by companies such as Covestro and Evonik are bringing about a demand for high-performance resins that can withstand extreme temperatures.
• Moreover, the trend towards the “circular economy” in Europe has increased the demand for the recyclability of polyolefins, thus opening up new opportunities for the manufacturers of liquid saturated polyolefins.

Asia-Pacific

• In the countries of China and India the rapid urbanization is increasing the demand for construction materials, including saturated liquid polyester resins used in paints and glues.
• The growth of the market for lithium-ion batteries is expected to continue, with demand soaring, especially for use in the automobile and the electric vehicle industries.
• ‘Make in India’, a government initiative to promote manufacturing and infrastructure development, is expected to further drive the growth of the liquid saturated polyester resin market.

MEA

• The United Arab Emirates' Vision 2021 program, which aims at sustainable development, has led to an increase in investment in the construction and infrastructure industries. This has led to an increase in the demand for liquid saturated polyolefins.
• The development of synthetic materials for the manufacture of saturated liquid polyesters and phenolic resins is a great source of pride for the companies in the region.
• The petroleum industry of the Middle East and Africa is increasingly using liquid saturated polyolefins as protective coatings, driven by the need for a durable and corrosive resistant material.

Latin America

• The growth of the automobile industry in Brazil is a source of demand for liquid saturated polyolefins, especially for the manufacture of paints that enhance the appearance and endurance of the vehicle.
• Brazil has begun to adopt sustainable practices, and manufacturers have begun to invest in bio-based resins to meet the growing demand for environment-friendly products.
• The market for liquid saturated polyolefins will be bolstered by government initiatives to stimulate local manufacturing.

Did You Know?

“Saturated liquid resins are not only used in the manufacture of coatings, but also play a key role in the manufacture of high-performance composites, which are being increasingly used in aircraft and automobile construction.” — Market Research Future

Segmental Market Size

Liquid saturated polyester resins play a crucial role in the current stable growth of the market for coatings and adhesives. This market is driven primarily by increasing demand for high-performance coatings in the automotive, construction and consumer goods industries. Also driving the market are the push for eco-friendly products and compliance with increasingly stringent regulations. Liquid saturated polyester resins have a lower VOC (volatile organic compound) emissions than other resins.

The use of liquid saturated polyester resins is in its mature stage, with PPG Industries and BASF as the leaders in the field of development. These resins are used extensively in powder coatings, for automobile and industrial coatings, and have proved their versatility. The trend towards greater environmental awareness is driving the industry to move towards greener alternatives. The trend towards higher performance and lower emissions will be reflected in the products of the future.

Future Outlook

The market for liquid saturated polymers will grow steadily from 2024 to 2032. The market will rise from $3.52 billion to $4.89 billion, with a CAGR of 4.2%. This growth will be based on the increasing demand for high-performance coatings and adhesives in the automotive, construction and electronics industries. As manufacturers increasingly adopt sustainable practices, the shift towards eco-friendly and low-VOC formulations is expected to spur innovation and market growth. The penetration of liquid saturated polymers in the coatings industry will rise from 22% in 2024 to almost 30% in 2032. This reflects a growing trend towards advanced materials in industrial applications.

The market for liquid saturated polyester resins is expected to grow at a CAGR of 3.2% over the forecast period, thanks to a number of technological developments such as the development of bio-based resins and improved curing processes. Moreover, government policies encouraging the development of sustainable manufacturing practices are also expected to drive growth. Also, the integration of smart technology into manufacturing processes and the increasing use of liquid saturated polyester resins in 3D printing applications will open up new avenues for the market. As the market evolves, companies that invest in R&D and adopt to changing customer preferences will be able to benefit from the expanding market landscape.