Market Overview:
Liquid saturated polyester resin
is one of the types of saturated polyester in which the polyester backbone is
saturated, thus they are not as reactive as unsaturated polyesters.
Comparatively they possess low molecular weight which make them suitable for
production of plasticizers and as reactants in the manufacturing of urethane
polymers, and in linear high molecular weight thermoplastics such as PET. Most
commonly reactant for the saturated polyesters are glycol and an acid or
anhydride. They offer excellent weather resistance, chemical resistance,
provide adhesion to various kind of substrates thus find wide application scope
as automotive paints, can & coil coating, industrial paints, flexible &
rigid packaging, and others.
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Some of the prominent factors
that positively influence the growth of liquid saturated polyester resin market
are growing urbanization, improving packaging sector, and rising standard of
living. Rising population coupled with increasing demand for packaging products
is predicted to fuel the demand for packaging material such as containers and
cans, which in turn, propel the demand for liquid saturated polyester resin
over the forecast period, 2017 to 2023. Moreover, huge investments by the key
operating players in the research and development activities coupled with
strong acceptance within the end use industries are expected to fuel the growth
of the market during the review period.
Competitive Analysis:
·
Royal DSM N.V.
·
Evonik Industries
·
The Nippon Synthetic Chemical Industry Co.,Ltd
·
Stepan Company
·
Arkema S.A.
·
Allnex Group
·
Hitachi Chemical Co., Ltd
·
Thai Urethane Plastic Co.,Ltd.
·
NOVARESINE SRL
·
Karna Paints
·
Worlee-Chemie GmbH
Market Segmentation:
Globally, liquid
saturated polyester resin market is segmented on the basis of
application such as automotive paints, can & coil coating, industrial
paints, flexible & rigid packaging, and others. Among these, can & coil
coating and automotive paints are expected to hold the larger share as compared
to other segments. Rising demand for consumer goods in numerous countries
across the globe is the main factor for the significant growth of the segment
in the upcoming years. Moreover, increasing automotive production and sales
along with the rising consumption of automotive paints is expected to propel
the growth of the market during the forecast period. Moreover, liquid saturated
polyester resin are widely utilized in the production of industrial paints.
Expansion of general industries such as chemical, steel, fertilizer, and
consumer goods are predicted to fuel the demand for liquid saturated polyester
resin. Additionally, rising construction activities in the developed and
developing nations combined the growth of the paints & coatings industry is
predicted to give new impetus to the market growth over the assessment period.
Regional Analysis:
Asia Pacific is estimated to be
the largest market for liquid saturated polyester resin followed by North
America and Europe due to rising demand from numerous sectors such as
automotive, packaging, and can & coil coating among others. Numerous
countries of Asia Pacific such as China, India, Bangladesh, Vietnam, South Korea,
Japan and Malaysia are the fastest growing market for liquid saturated
polyester resin, and is predicted to grow with the significant pace during the
assessment period. Increasing middle class population, availability of cheap
labor & land, and competitive manufacturing costs are also the important
factors driving the growth of the market in the Asia Pacific region. North
American liquid saturated polyester resin market is predicted to witness an
average growth with U.S and Canada being the major contributors owing to the
expansion of packaging and construction sector. European market is expected to
witness a substantial growth in the upcoming years on account of growing demand
for liquid saturated polyester resin in packaging and automotive sector.
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