Global Liquid Polyester Resin Market Projected to Reach USD 4.89 Billion by 2030 Amid Rising Demand from Automotive and Packaging Industries

August 31, 2024

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The global liquid polyester resin market, valued at USD 2.83 billion in 2020, is set to experience steady growth at a compound annual growth rate (CAGR) of 4.2% from 2021 to 2030, reaching USD 4.89 billion by the end of the forecast period. This growth trajectory is driven by increasing demand across key industries, including automotive, packaging, and industrial coatings, according to the latest industry analysis.

Liquid polyester resin, specifically the saturated variant, is characterized by its saturated polyester backbone, making it less reactive compared to unsaturated polyester resins. These resins are known for their low molecular weight, superior adhesion, and excellent durability, which make them ideal for various applications such as automotive paints, can and coil coatings, industrial paints, and both flexible and rigid packaging. Additionally, they are widely used in anti-corrosion coatings on iron-steel structures when combined with epoxy-based primers.

Key Growth Drivers and Market Dynamics

The increasing demand for consumer goods worldwide is a primary driver of the liquid polyester resin market. As industries expand to meet the growing needs of a changing global lifestyle, the demand for durable and high-performance coatings continues to surge. Liquid saturated polyester resins are particularly favored for their application in the packaging industry, including in cans, containers, and boxes, due to their robust performance and resistance to environmental factors.

Another major factor propelling market growth is the rising awareness of the harmful effects associated with solvent-based products containing high volatile organic compound (VOC) content. As environmental regulations tighten and consumers become more eco-conscious, the shift towards safer, more sustainable coating solutions like liquid saturated polyester resin is gaining momentum.

Emerging Opportunities and Market Outlook

The automotive sector is poised to be a significant contributor to market growth, with liquid polyester resins being extensively used in automotive paints to enhance durability and resistance to wear and tear. The ongoing trend of light-weighting in automotive manufacturing, aimed at improving fuel efficiency, further underscores the importance of high-performance resins in the industry.

The global liquid polyester resin market is also set to benefit from technological advancements in resin formulations that enhance the performance characteristics of coatings, including improved weatherability, chemical resistance, and adhesion properties.