The global saturated polyester resin market was valued at approximately USD 5.38 billion in 2023 and is expected to expand to around USD 7.91 billion by 2030, reflecting a steady compound annual growth rate (CAGR) of 5.8% between 2024 and 2030. This consistent market growth is primarily driven by increasing demand from the coatings industry as well as significant advancements in packaging solutions.

In particular, the packaging industry benefits greatly from the unique properties of saturated polyester resins. Their excellent adhesion capabilities, flexibility, and strong chemical resistance make them highly suitable for a variety of packaging applications, especially in the food and beverage sectors. These attributes enhance the protective qualities and durability of packaging materials, thereby encouraging wider adoption across the industry. Saturated polyester resin itself is a type of thermoset polymer, synthesized through the chemical reaction of a saturated polycarboxylic acid with a polyhydric alcohol. The resulting product is a highly cross-linked material that offers superior chemical resistance, mechanical strength, and thermal stability, making it highly versatile for industrial use.

The rise in popularity and widespread use of smart devices such as smartphones, tablets, and laptops has contributed to the rapid expansion of the e-commerce industry. This growing sector relies heavily on both flexible and rigid packaging solutions to ensure that products are delivered safely and securely to consumers. The increasing volume of online sales is thus expected to further drive demand for saturated polyester resin-based packaging materials over the coming years.

Simultaneously, the coatings industry continues to be a major contributor to market growth. This is especially evident in the architectural and automotive sectors. Within the architectural coatings segment, the rapid expansion of the construction industry—particularly in emerging economies—has increased the use of saturated polyester resins. This is due to their durability and attractive finish, which are highly sought after for both residential and commercial construction projects. The enhanced performance and aesthetic qualities offered by these resins make them a preferred choice for coatings, further supporting market demand.

Key Market Trends & Insights:

• North America stands out as one of the key regional markets within the global saturated polyester resin industry, accounting for a significant 14.9% share of total revenue in 2023. Within this regional market, the United States emerged as the dominant contributor, leading with an impressive 81.4% revenue share of North America’s saturated polyester resin market. This strong leadership reflects the U.S.’s well-established manufacturing infrastructure, advanced industrial base, and growing demand across various applications.

• When analyzing the market by material type, the solid saturated polyester resins segment was the largest contributor, holding a substantial 60.0% share of the market in 2023. This preference for solid resins is likely due to their superior mechanical properties and wide applicability in multiple industries, making them a favored choice among manufacturers and end-users alike.

• Looking at the market based on end-use, the powder coatings segment dominated in terms of revenue in 2023. This dominance can be attributed to the increasing demand for high-performance, durable coatings that provide excellent finish quality and environmental benefits, such as low volatile organic compound (VOC) emissions. The growth in powder coatings usage across industries like automotive, appliances, and construction has been a major factor driving the adoption of saturated polyester resins within this segment.

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Market Size & Forecast:

• 2023 Market Size: USD 5.38 Billion

• 2030 Projected Market Size: USD 7.91 Billion

• CAGR (2024-2030): 5.8%

• Asia Pacific: Largest market in 2023

Key Companies & Market Share Insights:

Key companies operating in the saturated polyester resin market are actively employing a variety of organic and inorganic growth strategies to both sustain and expand their market presence. These strategies include mergers and acquisitions, launching new products, capacity expansions, and forming joint ventures. By leveraging these approaches, companies aim to enhance their competitive edge, increase production capabilities, and diversify their product portfolios, which collectively contribute to strengthening their position in the increasingly competitive market.

A notable example of such strategic expansion occurred in April 2021, when Covestro AG announced the successful completion of its acquisition of the Resins & Functional Materials (RFM) business, which includes the production of saturated polyester resin, from DSM. This acquisition was valued at a significant amount and is projected to boost Covestro AG’s revenue by approximately USD 1.07 billion. The integration of DSM’s RFM business is expected to enhance Covestro’s product offerings and market reach in the saturated polyester resin segment, supporting its long-term growth objectives.

Key Players

• DSM

• Allnex GmbH

• Arkema

• IGM Resins

• Mitsubishi Chemical Group Corporation

• Polynt S.p.A

• Hexion

• Evonik Industries AG

• BASF SE

• Ashland Global Holdings Inc.

• Sika AG

• Sika AG

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Conclusion:

The saturated polyester resin market is poised for steady growth driven by strong demand from the coatings and packaging industries. Increasing adoption in architectural and automotive coatings, along with advancements in packaging solutions, supports market expansion. Ongoing innovation and strategic initiatives by key players are expected to further propel the market’s development globally.