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Market Leader – Unsaturated Polyester Resin Market
The unsaturated polyester resins industry is a rapidly evolving market. Currently, the unsaturated polyester resin market is dominated by few key players, such as The Dow Chemical Company (U.S.), Ashland Inc. (U.S.), Royal DSM (Netherlands), and Swancor (Taiwan) among others. These companies are considered as leaders in the unsaturated polyester resin market.
Substantial investments are being made in the past few years by key companies, such as BASF SE (Germany), Polynt (Italy), The Dow Chemical Company (U.S.), and Reichhold Inc. (U.S.), among others, to address the future demands of unsaturated polyester resins arising from the growing automotive and construction industries.
The companies are majorly focused on research and development for new production techniques, capacity expansion of existing facilities, and installation of new facilities to achieve better performance qualities, economies of scale, product innovation, and simultaneously address the increasing demand of unsaturated polyester resins.
Expansions & investments and new product launches are considered as key growth strategies adopted by key players in the recent past. For instance, BASF SE has decided to invest USD 101.37 million to set up a new production plant in the Shanghai Chemical Industry Park, China. This new plant will produce high performance resins that will eventually address the growing demands of high quality coatings for different end users. This will in turn help companies expand their geographic presence in the unsaturated polyester resin market.
Also, Royal DSM launched a new Beyone™ 170,177 and 185 resin series that are based on ortho, DCPD, and vinyl ester chemistry. These resins are widely used in different end-user applications, such as marine, building & construction, and industrial. This new product launch has assisted the company enhance its market presence in the in the composite industry.
Apart from expansions & investments, companies are also focused on new product launches, joint ventures, and partnerships & agreements. These strategies have accounted for a major share of 33.3%, 17.9%, and 15.3%, respectively, out of the total developments in the unsaturated polyester resin market between 2011 and 2015.
Joint venture is another widely preferred strategy adopted by players, such as BASF SE (Germany) and UPC Technology Group (Taiwan) in the unsaturated polyester resin market. For instance, in May 2014 BASF SE entered into a joint venture with Sinopec (China) to build a plant in China, with an aim of increasing the production of unsaturated polyester resins.
Unsaturated Polyester Resin Market by Type, by End-User Industry (Building & Construction, Marine, Automotive & Transportation, Pipes & Tanks, Electrical & Electronics, Wind Energy, Artificial Stones), by Region - Global Forecast to 2020
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