The global Saturated Polyester Resin market was valued at USD 4,281.1 million in 2019 and is expected to reach USD 6,598.5 million by 2027, growing at a CAGR of 5.59% from 2020 to 2027.
Saturated polyester resin is formed by the reaction of polybasic acids and polyols, and its feature includes excellent flexibility and hardness. It is mainly used in can coating, rolled steel, non-stick pan, ink, adhesive, PET coil, metallic baking paint such as automotive paint, and so on.
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Saturated polyester resin is water, heat, and humidity resistance, therefore, they offer a wide range of applications in several industries such as paint & coating which are projected to boost the market growth over the forecast period. The rising industrial sector is influencing to spur market growth in the upcoming years. Furthermore, strict government regulations imposed on VOC emissions have resulted in the development of eco-friendly technologies that are substituting solvent-borne coatings. This, in turn, might fuel the demand for saturated polyester resin
Drivers: Increasing demand for powder coatings
Saturated polyester resins are primarily used to manufacture solvent-free powder paints and coatings. Owing to its superior properties, such as good weather resistivity, excellent impact strength, and adhesion to metals (even under humid conditions). Saturated polyester resins are favored for exterior and interior architectural applications, coating machinery, domestic appliances, steel furniture, and garden tools.
Growing construction and automotive sector are expected to drive the usage of powder coatings, thereby boosting the growth of the market during the forecast period.The construction sector has been witnessing a robust growth in Asia-Pacific and Middle East & Africa. In the Middle East & African region, governments have been making efforts to develop the non-oil sectors, after the region faced a financial crisis, due to the drastic fall in oil prices in the past.
Challenges: Economic Influences
Significant numbers of raw materials used in coatings formulations are either derived directly from oil for their chemical composition, or indirectly as a result of energy derived from oil for their mining and/or processing. The price of oil can be highly volatile and many factors can impact this forecast, driving the price/barrel either up or down. As a result, oil prices have a significant impact on the price of coatings raw materials.
Various key players are discussed in this report such as Royal DSM N.V., Allnex Belgium SA/NV, Arkema S.A., Nuplex Industries Ltd., Stepan Company, Evonik Industries, Nippon Gohsei, Covestro AG, and Megara Resins.
- Liquid saturated polyester resin
- Solid saturated polyester resin
- Solid carboxyl-terminated saturated polyester resin
- Solid hydroxyl-terminated saturated polyester resin
- Powder Coatings
- Industrial Paints
- Coil & Can Coatings
- Automotive Paints
- Flexible Packaging
- 2k PU Coatings
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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