The global saturated polyester resin market is anticipated to witness substantial growth, with an estimated size of USD 4.4 billion in 2024 and a projected Compound Annual Growth Rate (CAGR) of 6.10% over the forecast period. By 2034, it is expected to reach a market size of approximately USD 8 billion. This growth trajectory is indicative of increasing demand across various industries such as automotive, construction, and electronics, driven by the resin’s versatile properties and applications. Factors like rising infrastructure projects, technological advancements, and growing environmental concerns favoring sustainable materials are likely to further propel the market’s expansion in the coming years.
The demand for saturated polyester resins is increasing in the automotive, construction, and packaging industries due to their excellent mechanical properties and durability. The construction industry, particularly in emerging economies, is also driving the demand for high-performance coatings, adhesives, and sealants. Additionally, the expansion of the packaging industry, mainly in the food and beverage sector, is leading to increased usage of saturated polyester resins for flexible packaging applications.
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Rising consumer awareness regarding sustainable and environmentally friendly products is also leading to 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.
The adoption of powdered coatings is growing in various end-use industries due to their superior performance, ease of application, and environmental advantages. Furthermore, the expansion of the electronics industry, particularly in the Asia Pacific, is also driving the demand for specialized coatings and encapsulation materials. Rapid industrialization and urbanization in developing countries are leading to increased 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 eco-friendly products and manufacturing processes to meet increasing consumer and regulatory demands for sustainability,” says an Analyst at Future Market Insights, Inc.
Key Takeaways from the Market Study
- The coatings segment is expected to dominate the saturated polyester resin industry, recording a CAGR of 6.00%.
- Based on end-user segmentation, the automotive segment is poised to lead the saturated polyester resin industry, registering a CAGR of 5.70%.
- The saturated polyester resin industry in the United Kingdom is anticipated to grow at a modest CAGR of 7.20% through 2034.
- The saturated polyester resin market in China is estimated to rise at a CAGR of 6.80% through 2034.
- The saturated polyester resin industry in Japan has the potential to increase at a projected CAGR of 7.40% through 2034.
- The United States saturated polyester resin industry is predicted to rise with a CAGR of 6.20% through 2034.
- The saturated polyester resin industry in South Korea is likely to grow at a CAGR of 6.90% through 2034.
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Competitive Landscape
The saturated polyester resin market is highly competitive, with numerous players catering to both international and domestic consumers.
Key Companies in the Market
- Koninklijke DSM N.V.
- Allnex
- Arkema S.A.
- Hitachi Chemical Co. Ltd.
- Stepan Company
- Nuplex Industries Ltd.
- Evonik Industries AG
- Covestro AG
- Eternal Materials Co., Ltd.
- Dynea AS
- Hexion Inc.
- Polynt SpA
- Reichhold LLC
- Royal Adhesives & Sealants
- Showa Denko K.K.
- Helios Group
These companies specialize in providing protective coatings, adhesives, and composite materials to automotive, aerospace, and manufacturing companies. All of these key market players are investing heavily in research and development to make their offerings more environmentally friendly, affordable, and lightweight, aiming to attract a wider consumer base.
Recent Developments:
- In December 2023, BASF facilitated the supply of Neopentyl Glycol from Zhanjiang to KHUA, one of the leading companies in the saturated polyester resins market. This supported the growing demand for low-emission powder coatings in the Asia Pacific, with a specific focus on China. KHUA also announced plans to establish a 100 KT/a production facility for high-end saturated polyester resins in Zhanjiang.
- Arkema, a key player in the saturated polyester resin industry, concluding 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, totaling 400 GWh annually. The deal also represents a significant stride towards embracing sustainable energy practices.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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