The Liquid Saturated Polyester Resin Marketwill acquire a significant CAGR and expected market valuation in the forecast period between 2022-2030.
Liquid saturated polyester resin is a saturated polyester resin with low molecular weight. It has excellent durability and adhesion, due to which it is suitable for various applications, especially in coating, paints, and packaging.
The massive demand for consumer goods worldwide is accelerating the market’s growth. The growing automotive production with a higher sales rate has driven the automotive paints consumption, and coatings are propelling the global market. Rapid urbanization and industrialization have led to extensive usage of liquid saturated resin in various industrial sectors. Moreover, the development of industries such as consumer goods, steel, chemical, and fertilizer are accelerating the demand for the Liquid Saturated Polyester Resin Market.
The rapidly expanding industries will further drive the market’s revenue with emerging economies in the upcoming years. Also, the increased rate of construction activities in developing and developed nations is a major market driver. The development has led to investments in stadiums, hospitals, universities, and residential buildings, which simultaneously propelled the need for paints & coatings, which is contributing to the market’s growth in the ongoing forecast period.
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The Liquid Saturated Polyester Resin Market is segmented into applications. The application segment is further sub-categorized into flexible & rigid packaging, automotive paints, can & coil coating, industrial paints, and others.
According to the global Liquid Saturated Polyester Resin Market regional growth, it is showing tremendous growth across the Asia Pacific region, European Union, Latin American regions, North American countries, and the Middle East & Africa.
Among the above regions, the Asia-Pacific will acquire the highest CAGR in the forecast period. The growing demand in the automotive, construction, and general industries. The demand for liquid saturated polyester resins in developing countries such as China, Malaysia, Vietnam, India, and Japan.
North America will witness a moderate regional growth rate due to its demand in the industrial sector. Canada and U.S. are major contributors to the regional market. U.S. is noticed to capture the largest regional market share with the highest CAGR.
European countries like Russia, Germany, Spain, Italy, France, and the U.K. are showing significant growth due to growing application and higher expenditure on R & D.
Countries of Latin America, such as Mexico, Brazil, and Colombia, are showing steady growth rates due to rising consumer spending on packaging and automobile products.
The Middle East & African regional market is showing average growth in the regions s Qatar, UAE, Oman, and Saudi Arabia due to higher demand in the end-use industries in the forecast period.
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Some of the prominent players operating in the global liquid saturated polyester resin market are Royal DSM N.V. (the Netherlands), Evonik Industries (Germany), The Nippon Synthetic Chemical Industry Co.,Ltd (Japan), Stepan Company (U.S.), Arkema S.A. (France), Allnex Group (Belgium), Hitachi Chemical Co., Ltd (Japan), Thai Urethane Plastic Co.,Ltd. (Thailand), NOVARESINE SRL (Italy), Karna Paints (India), Worlee-Chemie GmbH (Germany), and others
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