The global saturated polyester resin market, valued at US$4.4 billion in 2024, is expected to reach US$8 billion by 2034 at a CAGR of 6.10%. Key drivers include demand from the automotive, construction and packaging industries, with growing interest in sustainable and bio-based options. Emerging economies and infrastructure projects are also contributing to increased usage.
NEWARK, Del., Feb. 27, 2024 (GLOBE NEWSWIRE) — According to the latest industry analysis by Future Market Insights, the global market size for saturated polyester resins is estimated at approx. 4.4 billion US dollars in 2024. It is expected to show growth at a CAGR of 6.10% During the forecast period, to reach the estimated saturated polyester resin market size of 8 billion US dollars By 2034.
Saturated polyester resins are in increasing demand in the automotive, construction and packaging industries due to their excellent mechanical properties and durability. The construction industry, especially in emerging economies, is also increasing demand for high-performance coatings, adhesives and sealants. In addition, the expansion of the packaging industry, especially in the food and beverage sector, is leading to increased use of saturated polyester resins for flexible packaging applications.
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Increasing consumer awareness regarding sustainable and environmentally friendly products is also driving the adoption of bio-based and recycled saturated polyester resins. Moreover, increasing investments in infrastructure projects, such as bridges, roads and railways, in countries such as India, China and the United States, are boosting the demand for corrosion-resistant coatings and composite materials.
Powder coatings are increasingly being adopted in many end-use industries due to their superior performance, ease of application and environmental benefits. Moreover, the expansion of the electronics industry, especially in the Asia-Pacific region, is also driving demand for specialty coatings and packaging materials. Rapid industrialization and urbanization in developing countries is increasing demand for industrial coatings, composites, and laminates for infrastructure and manufacturing applications.
“In today’s competitive landscape, it is imperative for companies operating in the saturated polyester resin market to prioritize the development of environmentally friendly products and manufacturing processes to meet increasing consumer and regulatory requirements for sustainability.” says Nikhil Kaitwad (Associate Vice President, Future Market Insights, Inc.)
Key takeaways from the market study
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The coating segment is expected to dominate the saturated polyester resin industry, registering a CAGR of 6.00%.
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Based on end-user segmentation, the automotive sector is poised to lead the saturated polyester resin industry, registering a CAGR of 5.70%.
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The UK saturated polyester resin industry is expected to grow at a modest CAGR of 7.20% until 2034.
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The saturated polyester resin market in China is expected to grow at a CAGR of 6.80% until 2034.
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The saturated polyester resin industry in Japan has the potential to grow at a projected CAGR of 7.40% until 2034.
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The US saturated polyester resin industry is expected to grow at a CAGR of 6.20% through 2034.
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The saturated polyester resin industry in South Korea is likely to grow at a CAGR of 6.90% until 2034.
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Competitive scene
The saturated polyester resin market is highly competitive, with numerous players catering to international and local consumers.
Main companies in the market
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Royal DSM NV
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The setbacks
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Arkema SA
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Hitachi Chemical Co., Ltd
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Stepan company
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Noplex Industries Limited
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Evonik Industries AG
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Covestro AG
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ETERNAL MATERIALS LIMITED
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Religiously AS
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Hexion Company
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Bulent Spa
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Reichhold LLC
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Proprietary adhesives and sealants
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Showa Denko KK
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Helios Group
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Sika AG
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SCOTT BADER LIMITED
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Interplastic Company
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AOC resins
These companies specialize in providing protective coatings, adhesives and composites to automotive, aerospace and manufacturing companies. All these major market players are investing heavily in R&D to make their offerings more environmentally friendly, affordable and lightweight, with the aim of attracting a wider consumer base.
Recent developments:
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In December 2023, BASF facilitated the supply of Neopentyl Glycol from Zhanjiang to KHUA, one of the leaders in the saturated polyester resin market. This has supported growing demand for low-emission powder coatings in the Asia-Pacific region, with a particular focus on China. KHUA also announced plans to establish a 100 kt/y production facility for advanced saturated polyester resins in Zhanjiang.
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Arkema, a major player in the impregnated polyester resin industry, entered into a 20-year solar power purchase agreement (PPA) with EDF Renewables in January 2024. This agreement secures 70% of Bostik's electricity requirements across its French sites, for a total of 400 GWh annually. The deal also represents a big step towards adopting sustainable energy practices.
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Saturated Polyester Resin Market Segmentation Based on Product:
By application:
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Coatings
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Adhesives
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Vehicles
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Others
By end user:
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the cars
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Aerospace
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building
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Packaging
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Others
By region:
Author by:
Nikhil Kaitwadi (Associate Vice President, Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered more than 1,500 assignments for clients, mostly in the automotive, chemicals, industrial equipment, oil and gas, and services industries.
Its core competency revolves around developing research methodology, creating a unique analysis framework, and statistical data models for price analysis, competition mapping, and market feasibility analysis. His experience also extends widely beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decisions.
Nikhil holds an MBA in Marketing and Information Technology and a postgraduate degree in Mechanical Engineering. Nikhil has authored numerous publications and quoted in magazines like EMS Now, EPR Magazine and EE Times.
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