CHICAGO, August 13, 2015 /PRNewswire/ --
The report "Unsaturated Polyester Resin Market by Type, by End-User Industry (Building & Construction, Marine, Automotive & Transportation, Pipes & Tanks, Electrical & Electronics, Wind Energy, Artificial Stones), by Region - Global Forecast to 2020", published by MarketsandMarkets, The global unsaturated polyester resin market was valued at USD 7.17 Billion in 2014, and is expected to reach USD 9.87 Billion by 2020, at a CAGR of 5.59% between 2015 and 2020.
Browse 115 Tables and 63 Figures spread through 201 Pages and in-depth TOC on "Unsaturated Polyester Resin Market".
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Unsaturated Polyester Resins: The global unsaturated polyester resin market was valued at USD 7.17 Billion in 2014, and is expected to reach USD 9.87 Billion by 2020, at a CAGR of 5.59% between 2015 and 2020.
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Asia-Pacific - The most dominant region in the unsaturated polyester resin market
The unsaturated polyester resin (UPR) market in the Asia-Pacific region is one of the fastest-growing markets across the globe, and this trend is expected to continue in the near future as well. Asia-Pacific is leading the global unsaturated polyester resin market, and has accounted for a share of 49.00% in terms of volume, in 2014. Among all countries in the Asia-Pacific region, China has contributed the maximum share in the unsaturated polyester resin market. This growth is mainly attributed to the increasing population, favorable investment policies, as well as government initiatives that promote industrial growth.
Orthophthalic - The largest type segment in the unsaturated polyester resin market
The orthopthalic segment is one of the most significant types in the unsaturated polyester resin market. Asia-Pacific region constitutes a major share in the orthopthalic segment of this market, in 2014.
The U.S. and China are at forefront of unsaturated polyester resins consumption, while Germany, France, Japan, the U.K., and India are other key countries in the unsaturated polyester resin market. China consumes more than half of the overall demand of unsaturated polyester resins, followed by Japan and India, wherein the consumption of UPR is growing at a steady pace. Demand of unsaturated polyester resins is expected to grow in the Asia-Pacific region, owing to continued industrialization and high growth in the manufacturing sector. Substantial investments being made in the infrastructural segment of developing economies, such as China and India, and rapid expansion of the automotive sector have become significant factors influencing the growth of the unsaturated polyester resin market.
Wind energy segment is projected to be the fastest-growing end-user application of the unsaturated polyester resin market between 2015 and 2020. The wind energy industry is expected to progress in developed economies of Europe and North America, as their respective governmental bodies are working towards the development of eco-friendly substitutes to generate energy. Wind energy is cost-effective as compared to other fuel sources, such as coal and crude oil. With the increasing significance of wind energy being generated by wind mills, the overall demand of unsaturated polyester resins is also expected to grow, as unsaturated polyester resins are highly utilized in the production of wind mill blades.
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