Unsaturated Polyester Resin Market Analysis, Growth,2014-20
Unsaturated Polyester Resins are chemicals manufactured by condensation reaction between acids such as Phthalic Anhydride, Maleic Anhydride, Isophthalic Acid and glycols such as Mono-ethylene Glycol, Propylene Glycol, and Di-ethylene Glycol. This chemical is used in varied industries such as electrical, marine, transport, construction and many more. Lifestyle changes, increasing urbanization and growth in the construction industry are key factors driving this market. Rising demand for pipes and tanks to store chemicals is another crucial factor that is influencing the market. Raw material utilized in manufacturing of unsaturated polyester resin is growing in cost and this is hindering the manufacturing cost, thus limiting the growth of the market. Environmental regulations are other crucial factors restricting growth. Application of unsaturated polyester resin in fiberglass manufacturing is further creating opportunities for application of this chemical.
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