The global saturated polyester resin market is expected to witness significant growth over the forecast period. Global industrial and consumer demand is expected to be the key factor for the market growth over the next seven years. Various properties such as weather, humidity, and heat resistance along with excellent finish provided by many coatings is expected to drive the market demand. Emerging new technologies in manufacturing and development of new end-user applications are expected to have a positive influence on saturated polyester resin demand over the forecast period. Stringent government norms & regulations are expected to drive the saturated polyester resin demand over the next few years. Various government policies in different countries like Malaysia, India, and China are expected to fuel the demand for saturated polyester resins in the next few years.
Global saturated polyester resin market on the basis of application is classified as powder coatings, flexible packaging, automotive paints, coil & can coatings, industrial paints, and Polyurethane coatings. Powder coatings is expected to drive the saturated polyester resin demand owing to growth in end-user industries like appliances, automotive, and metal furniture in the forecast period. Appliances coating industry is presumed to account for one-fourth of the total global market revenue for saturated polyester resin in the near future followed by automotive and general industrial coatings segment. Ever-increasing demand for automobiles coupled with increase in manufacturing of automobiles is anticipated to drive the automotive paints market in the next few years. Asia-pacific was the dominant automobile manufacturing region in the past few years followed by Europe and North America. However the economic slowdown in Europe due to recession in 2008 greatly affected the automobile industry in Europe. The demand for automobiles is expected to be the highest in the Asia-Pacific region owing to population explosion, increase in disposable income and improvements in the standard of living. Polyurethane coatings demand is expected to witness significant growth over the forecast period owing to its widespread use in construction in the form of sealants, thermal insulators, and flooring materials. The demand for Polyurethane coatings is expected to further increase in the next few years owing to penetration of waterborne coatings and various governmental norms & regulations.
Environmental concerns over the use of various chemicals in the manufacturing of saturated polyester resins expected to negatively impact the saturated polyester resin market growth over the forecast period. Increasing market competition with large number of new entrants pose a great challenge for the existing key market players.
Asia-Pacific is expected to be the key region for the saturated polyester resin market owing to the continuous increase in the demand for vehicles. Rapid urbanization and globalization in Asia-Pacific region is expected to fuel saturated polyester resin demand. China is the biggest player in the Asia-Pacific region followed by India, Malaysia and Japan. Different governments such as India and Malaysia have taken up different initiatives such as Special Economic Zone( India ) and Economic Transformation Programme ( Malaysia ) which are expected to further boost the saturated polyester resin demand over the forecast period. Similarly in Philippines, government in 2010 had announced public-private partnership strategy which is expected to boost the polyester resin demand in the country. The real estate sector has taken a huge leap forward in countries such as China, India, Thailand and Malaysia which is anticipated to fuel the polyester resin demand in these countries. The flourishing electronics industry in countries like Japan, China, and South Korea is expected to stem the demand for saturated polyester resins in Asia-Pacific region. With the end of the economic slowdown in EU, most of the countries are expected to regain their economic stability in the foreseeable future with countries like Germany and France leading from the front.
Key players dominating the saturated polyester resin market include companies such as Allnex, Bayer Coatings, Arkema Coating Resins, Hangzhou Sino French, and DSM Resins. Other players in the market include companies such as Nippon Gohsei, Hitachi Chemicals, Evonik Industries and Nuplex. Innovative New Product Development, M&A, JV’s, partnerships, and expansion of the existing facilities are some of the strategies adopted by these companies in the recent years.
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