Transparency Market Research has published a new report titled “Unsaturated Polyester Resin Market – Asia Pacific Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 – 2023.” According to the report, the Asia Pacific unsaturated polyester resin market
 was valued at US$ 3.98 Bn in 2014 and is anticipated to reach US$ 7.45
Bn by 2023, expanding at a CAGR of 7.2% between 2015 and 2023.

Increasing demand for unsaturated
polyester resin in the building & construction industry is one of
the key factors driving the market growth in Asia Pacific. Growth in
building & construction activities in Southeast Asia, China, and
India is projected to chiefly boost industry growth. Furthermore, high
demand for composite materials is likely to drive the market for
unsaturated polyester resin in this region. Composite materials are
primarily consumed in marine, transport, and pipes & tanks. Growth
in chemical and maritime industries is likely to drive the unsaturated
polyester resin market in Southeast Asia. However, stringent regulations
 related to styrene and volatile raw material prices are expected to
hamper growth of the unsaturated polyester resin market in Asia Pacific.
 Increasing application scope of unsaturated polyester resin in wind
energy and marine industries is likely to open new growth opportunities
during the forecast period.

In terms of demand, orthophthalic resin
was the most widely used product segment, accounting for over 35% share
of the unsaturated polyester resin market in Asia Pacific in 2014. This
resin is widely consumed in building & construction due to its high
tensile strength and fatigue limits. Isophthalic resin held the
second-largest share of the unsaturated polyester resin market in Asia
Pacific in 2014. Isophthalic resins possess higher strength and
resistance as compared to orthophthalic resins and are principally used
in automotive and marine industries. However, DCPD resins are projected
to be one of the fastest-growing product segments during the forecast
period due to high demand from transport and marine industries.

Building & construction constituted
the largest share of the unsaturated polyester resin market in 2014.
Unsaturated polyester resin is chiefly employed in reinforcement,
roofing, composites, and concrete. Tanks & pipes accounted for the
second-largest share of the unsaturated polyester resin market in Asia
Pacific with 20% share in 2014. Artificial stones held the third-largest
 share of the unsaturated polyester resin market in Asia Pacific in
2014. However, high demand for unsaturated polyester resin in wind
energy and marine industries is projected to provide strong growth
opportunities during the forecast period. This is due to resistance and
hydrolytic stability properties offered by unsaturated polyester resin.

Request to view Sample Report:

https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=6083

China dominated demand for unsaturated
polyester resin, accounting for over 55% share of the market in Asia
Pacific in 2014. Growth in building & construction coupled with high
 demand for composite materials has been driving the unsaturated
polyester resin market in this country. India held the second-largest
share of the unsaturated polyester resin market in Asia Pacific in 2014.
 Growth in the chemical industry coupled with rise in automotive and
marine activities have been primarily boosting growth of the market in
India. Countries such as Indonesia, Malaysia, Singapore, and Thailand
are likely to witness upsurge in demand for unsaturated polyester resin
due to growth in building & construction and transport industries.
Furthermore, significant development in the marine industry in Southeast
 Asia, especially in pleasure boats and yachts, is estimated to provide
lucrative market opportunities in the near future.