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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