Dublin, Oct. 01, 2024 (GLOBE NEWSWIRE) -- The "Saturated Polyester Resins (SPR) - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Saturated Polyester Resins (SPR) was estimated at US$6.9 Billion in 2023 and is projected to reach US$9.3 Billion by 2030, growing at a CAGR of 4.4% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The increasing demand for sustainable materials in construction and automotive industries is driving the adoption of SPRs, especially as global regulations become stricter on volatile organic compound (VOC) emissions. These regulations are pushing manufacturers to innovate with low-VOC and water-based SPR formulations to meet environmental standards.
The growth in the saturated polyester resins market is driven by several factors, including technological innovations, expanding application areas, and environmental regulations. The increasing demand for powder coatings in automotive and industrial applications is a key driver, supported by the resins' superior performance and eco-friendly characteristics. Rising consumer awareness and regulatory pressures are driving the shift towards low-VOC and water-based SPR formulations, expanding their use in paints and coatings.
The growth of the construction industry globally is also spurring demand for SPR in architectural coatings that provide weather resistance and durability. Moreover, advancements in bio-based SPR formulations are catering to the growing demand for sustainable and recyclable materials in the packaging industry. These factors collectively fuel the growth of the SPR market across multiple sectors.
How Is the Market for SPR Evolving with Technological Innovations?
Technological advancements in SPR formulations and production processes are reshaping the market landscape. New developments in bio-based SPRs are providing sustainable alternatives to traditional petroleum-based resins, catering to the growing preference for eco-friendly products. Additionally, advances in polymerization techniques are enabling the production of specialty SPR grades that offer enhanced properties such as higher thermal stability, better flexibility, and improved adhesion.
The evolution of additive manufacturing and 3D printing technologies is also expanding the application range of SPRs, as these resins offer the necessary mechanical strength and chemical resistance required for printed components. Such technological innovations are opening new markets and applications, enhancing the growth potential of SPR.
What Market Dynamics Are Affecting the Demand for SPR?
The global SPR market is influenced by several dynamics, including rising consumer awareness about environmental sustainability and the growth of end-use industries such as automotive, construction, and electronics. The automotive sector, for instance, is driving demand for SPR in powder coatings due to their durability and corrosion resistance, which are essential for vehicle components exposed to harsh conditions.
In the packaging sector, the shift towards recyclable and sustainable packaging solutions is boosting the use of SPR-based materials that offer both strength and environmental benefits. Fluctuating raw material prices, however, pose challenges for manufacturers, prompting a shift towards more stable, bio-based sources. Collaborative efforts between manufacturers and research institutions are crucial in addressing these market dynamics effectively.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Powder Coatings Application segment, which is expected to reach US$2.6 Billion by 2030 with a CAGR of a 6.5%. The Industrial Paints Application segment is also set to grow at 4.0% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $1.9 Billion in 2023, and China, forecasted to grow at an impressive 7.4% CAGR to reach $2.0 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Allnex Belgium SA/NV, Anhui Shenjian New Materials, Colorificio Damiani SpA, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Questions Answered:
- How is the Global Saturated Polyester Resins (SPR) Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 196 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $6.9 Billion |
| Forecasted Market Value (USD) by 2030 | $9.3 Billion |
| Compound Annual Growth Rate | 4.4% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Saturated Polyester Resins (SPR) - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Global Economic Update
MARKET TRENDS & DRIVERS
- Growing Automotive Sector Drives Demand for SPR in High-Performance Coatings
- Rising Preference for Sustainable Materials Spurs Adoption of Bio-Based SPR in Packaging
- Increased Use of SPR in Powder Coatings Expands Market Opportunities in Industrial Applications
- Advances in Additive Manufacturing Technologies Propel Use of SPR in 3D Printing Materials
- Growth in Construction Activities Globally Boosts Demand for SPR in Architectural Coatings
- Rising Need for Lightweight Materials in Automotive Industry Encourages SPR Innovations
- Emergence of New Formulations Enhances SPR Applications in Flexible Packaging Solutions
- Increasing Use of SPR in Adhesives and Sealants Supports Market Expansion in the Electronics Industry
- Development of Specialty SPR Grades Opens New Opportunities in High-Temperature Applications
- Expanding Consumer Goods Market Strengthens Demand for SPR in Packaging and Labeling
FOCUS ON SELECT PLAYERS (Total 46 Featured):
- Allnex Belgium SA/NV
- Anhui Shenjian New Materials
- Colorificio Damiani SpA
- Covestro AG
- Esterpol Performance Resins
- Eternal Materials Co., Ltd.
- Hengli Group Co. Ltd
- IVM Chemicals srl
- Jiangsu Sanmu Group Co., Ltd.
- MICAPLY ITALIA S.r.l
For more information about this report visit https://www.researchandmarkets.com/r/m7xd4f
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