LSPE's various applications in coatings, adhesives, and packaging industries have helped shape some notable trends it is experiencing recently in those markets. One striking trend seen within the liquid saturated polyester resin (LSPR) segment is increasing demand in the coating industry. High-performance coatings that provide durability, weather resistance, and excellent adhesion are needed as the construction and automobile sectors grow. The Liquid Saturated Polyester Resin also faces significant changes driven by forces from the packaging sector Dynamics of Liquid Saturated Polyester Resin Market Packaging Industry play a crucial role in determining how LSPRs behave in the market today due to the increasing need for flexible and sustainable packaging solutions; laminating films and coatings for packaging materials being some of their uses. On top of this, liquid-saturated polyester resins improve the strength barrier properties of packaging materials while also being eco-friendly, which compliments industry efforts towards reduced environmental footprints, thereby contributing positively to increased demands for LSPR use in manufacturing.
Additionally, demand for Liquid Saturated Polyester Resin stems equally from its use in the adhesives sector. Such resins are used in the formulation of high-performance adhesives characterized by strong bonding properties and resistance to various environmental conditions. Technological advancements have been instrumental in driving market trends for Liquid Saturated Polyester Resin. LSPRs' characteristic improvements, new formulations, and compatibility with other materials are targeted through research and development activities currently underway across the globe. The distribution of the Liquid Saturated Polyester Resin market is geographically diverse across regions. The demand for LSPRs has been on the rise, especially among developing economies that are expanding their construction and manufacturing sectors. In these regions, market players position themselves strategically so as to harness such benefits and address the specific requirements of local industries.
Likewise, the market trend of liquid-saturated polyester resins is also influenced by regulatory considerations and environmental concerns. Manufacturers and end users must be conscious of chemical usage regulations, VOC emissions compliance, and product safety regulations required in homes. In addition, this industry has responded to environmental sustainability goals that can be reflected in low VOCs or green Liquid Saturated Polyester Resin compositions, which align with global objectives towards a greener future. Thus, one can say that there is a shift toward sustainability that is impacting the approach being taken by certain companies regarding liquid-saturated polyester resin trends. Most manufacturers are trying to find ways to incorporate recycled or bio-based raw materials into LSPR formulations indicating that they have embraced circular economy principles. This aligns with the industry's commitment to reducing products' environmental footprints and promoting sustainable supply chains capable of meeting customers' expectations concerning eco-friendly goods.
Liquid Saturated Polyester Resin Market Size was valued at USD 3.38 billion in 2023. The Liquid Saturated Polyester Resin industry is projected to grow from USD 3.52 Billion in 2024 to USD 4.89 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.20% during the forecast period (2024 - 2032).
Liquid saturated polyester resin is a kind of saturated polyester resin in which the polyester backbone is saturated. Saturated polyester resin exhibits low molecular weight and hence can be utilized as plasticizers and as a prominent reactant in the manufacturing of urethane polymers. These are less reactive as compared to unsaturated polyester resins. They provide excellent durability and superior adhesion which make them widely suitable for various applications such as can & coil coating, automotive paints, industrial paints, flexible & rigid packaging, and others.
As per our analysis, some of the important market factors and trends identified in the liquid saturated polyester resin are growing awareness, strict regulations for VOC emissions, and excellent performance of liquid saturated polyester resin due to its numerous properties. Rapid industrialization and urbanization in developed and developing countries are expected to drive the growth of the market. Furthermore, increasing investment in the construction activities for universities, hospitals, stadiums, and residential building are predicted to propel the growth of the market. Moreover, increasing demand for liquid saturated polyester resin from packaging industry that include container, cans, and boxes are expected to fuel the growth of the market. Rapid expansion of end use industries in emerging economies are estimated to positively influence demand patterns. Additionally changing lifestyle, increasing consciousness related to harmful effect of solvent based product which possess high VOC content, and growing purchasing power of people for purchasing packaged food are expected to give new impetus to the growth of the market during the forecast period.
Global Liquid Saturated Polyester Resin Market Share by Application (2016), (%)
Source: MRFR Analysis
Regional Analysis:
The global liquid saturated polyester resin market is categorized into five regions namely– Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, Asia Pacific is predicted to grow at the highest CAGR during the assessment period on account of increasing demand from various applications such as construction, automotive, and general industry among others. The demand for liquid saturated polyester resin is expected to surge in various countries of Asia Pacific such as India, China, Malaysia, Vietnam, and Japan due to rising consumer base as well as expansion of various end use industries. Moreover, growing purchasing power, ease of availability of low cost raw material & labor, soberly stringent regulatory framework are some other prominent factors for the regional liquid saturated polyester resin market growth during the forecast period.
Asia Pacific has emerged as the largest market for liquid saturated polyester resin followed by North America and Europe. North America is estimated to witness a moderate growth in liquid saturated polyester resin market due to the solid base for various industrial sector coupled with increasing investments to revitalize general industry during the assessment period, 2017 to 2023. North American countries such as Canada and U.S. are among the main contributors in the regional liquid saturated polyester resin market growth and are estimated to see a significant regional market growth over the forecast period. U.S accounted for the largest regional market share and is predicted to grow with the highest CAGR due to the growth in flexible & rigid packaging sector. European countries such as Spain, Italy, Russia, Germany, France, and UK have emerged as an important consumer market due to rising demand from growing application and increasing expenditure on research & development and innovation. However, stringent regulation implemented by various government bodies such as REACH and EPA are predicted to slightly hinder the demand for liquid saturated polyester resin in the Europe and North America. Countries such as Brazil, Mexico, and Colombia are among the major contributors in the regional Latin America growth due to rising consumer spending on automobile and packaging products. The Middle East & Africa is estimated to witness above average growth over the forecast period 2017-2023. Countries such as Qatar, Oman, the United Arab Emirates (UAE), and Saudi Arabia are among the key contributors in the regional market growth and is predicted to positively influence the end use industries growth during the assessment period.
Segmentation:
The global liquid saturated polyester resin market is classified on the basis of application and region. On the basis of application, the market is categorized into flexible & rigid packaging, automotive paints, can & coil coating, industrial paints, and others. On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Key Players:
Some of the prominent players operating in the global liquid saturated polyester resin market are Royal DSM N.V. (the Netherlands), Evonik Industries (Germany), The Nippon Synthetic Chemical Industry Co.,Ltd (Japan), Stepan Company (U.S.), Arkema S.A. (France), Allnex Group (Belgium), Hitachi Chemical Co., Ltd (Japan), Thai Urethane Plastic Co.,Ltd. (Thailand), NOVARESINE SRL (Italy), Karna Paints (India), Worlee-Chemie GmbH (Germany), and others
Geographical Analysis:
The report covers brief analysis of geographical regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
Intended Audience:
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