Unsaturated Polyester Resin (UPR) for Composites Market Size & Growth [2033]

UPR for Composites Market Overview

The UPR for Composites Market size was valued at USD 7905.18 million in 2024 and is expected to reach USD 9959.58 million by 2033, growing at a CAGR of 3.3% from 2025 to 2033.

The global unsaturated polyester resin (UPR) market reached approximately 5.2 million tonnes in 2022 and remained at that level in 2023. Orthophthalic resins dominate, holding 35–39% share, or about 1.8–2.0 million tonnes, while isophthalic resins account for around 30% (~1.6 million tonnes). Dicyclopentadiene (DCPD) variants make up roughly 15%, equal to 0.78 million tonnes, with others filling the remaining 16% (~0.83 million tonnes). Geographic distribution shows Asia-Pacific leading at 58% (~3.0 million tonnes), followed by North America at 20% (~1.04 million tonnes), Europe at 18% (~0.94 million tonnes), and Middle East & Africa at 4% (~0.21 million tonnes). Application use comprises 31% in construction (1.6 million tonnes), 22% in marine (1.1 million tonnes), 20% in automotive & transport (1.04 million tonnes), 10% in aerospace & defense (0.52 million tonnes), 12% in consumer goods (0.62 million tonnes), and 5% in other applications (0.26 million tonnes) . Annual new capacity additions amounted to 0.4 million tonnes in the Asia-Pacific alone in 2023, led by investments in China, India, and Vietnam . Overall production capacity reached 6.1 million tonnes globally at end-2023.

Key Findings

Driver: Rapid infrastructure and automotive growth in Asia-Pacific boosted UPR demand to approximately 5.2 million tonnes in 2023.

Country/Region: Asia‑Pacific leads, consuming an estimated 3.0 million tonnes, which is approximately 58% of global usage.

Segment: Orthophthalic resins top the type mix at 1.8–2.0 million tonnes, holding 35–39% share globally.

UPR for Composites Market Trends

UPR demand remained steady at approximately 5.2 million tonnes in both 2022 and 2023. Output capacities rose from 5.7 to 6.0 million tonnes, primarily through expansions in China, India, and Vietnam adding 0.4 million tonnes . Orthophthalic resin usage remained the largest share (35–39%, ~1.8–2.0 million tonnes), followed by isophthalic (~1.6 million tonnes) and DCPD (~0.78 million tonnes). Increasing isophthalic resin use in infrastructure reflected growth of 0.1 million tonnes in 2023. The Asia-Pacific region retained dominance with nearly 3.0 million tonnes, up from 2.9 million tonnes in 2022. North America consumed 1.04 million tonnes, marginally higher than 1.02 million tonnes in 2022 . Europe demand stood at 0.94 million tonnes, similar to 0.90 million tonnes in 2022 . The Middle East & Africa used 0.21 million tonnes, up from 0.20 million tonnes. In application segments, construction accounted for 1.6 million tonnes, marine for 1.1 million tonnes, automotive & transport for 1.04 million tonnes, aerospace & defense for 0.52 million tonnes, consumer goods for 0.62 million tonnes, and others for 0.26 million tonnes . Supply for composite tanks and pipes in oil and gas projects added 0.3 million tonnes in 2023. Technological trends included bio-based UPRs, with 0.05 million tonnes of bio-variants launched by leading firms in 2023. UV-curing formulations captured 0.2 million tonnes in coatings and decorative applications. Liquid-form UPRs held 85% (~4.4 million tonnes), while solid forms made up 15% (~0.78 million tonnes) . Infrastructure material demand in North America—e.g. FRP panels for hospitals and schools—translated into 0.3 million tonnes of UPR usage. Marine applications consumed 1.1 million tonnes, supporting boat hulls and superstructures. Automotive composites took 1.0 million tonnes, representing parts such as fenders and flooring. Price trends in Asia-Pacific showed movement between USD 1,200–1,400 per tonne, compared with USD 1,300–1,500 in North America. The competitive market includes twelve major suppliers accounting for more than 70% capacity, while smaller regional resin manufacturers supply 30%. Overall, trends show stable volume, capacity expansion in Asia-Pacific, growing specialty resin adoption, and diversification across applications such as construction, marine, and automotive.

UPR for Composites Market Dynamics

DRIVER

Asia-Pacific’s infrastructure and automotive growth lifted UPR demand to ~3.0 million tonnes, representing 58% of global market share.

Asia-Pacific’s accelerating construction activity, including roads, bridges, and public transport projects, required ≈0.5 million tonnes of resin for composite pipes, panels, and structures in 2023. Similarly, automotive composites consumed ~1.0 million tonnes, including vehicle body panels and dashboards. Policy support, such as India’s infrastructure investments and China’s industrial output, contributed to a 0.4 million-tonne increase in resin capacity between 2022–2023. Resin producers responded by commissioning 0.4 million tonnes of new capacity in China and India, stabilizing supply. These dynamics underscore Asia-Pacific’s role as the primary growth engine.

RESTRAINT

Dependence on petrochemical feedstocks (e.g. styrene) exposes UPR costs to crude oil price swings and competition from epoxy and vinyl ester alternatives.

Styrene, a key monomer, tracks crude prices and rose from USD 1,000 to 1,400 per tonne in 2023, increasing UPR production costs by ~20%. Meanwhile, epoxy and vinyl ester resins gained traction—epoxy use grew by 8% in electronics, contributing to UPR’s modest price decline of 5% in applications like printed circuit boards. Construction and automotive sectors shifted 0.1 million tonnes from UPR to epoxy annually due to superior performance and lower life-cycle costs. Pricing volatility poses a critical challenge in competitive markets.

OPPORTUNITY

Bio-based UPR developments reached 0.05 million tonnes in 2023, with demand for low-VOC and sustainable solutions rising across multiple sectors.

In 2023, key suppliers launched bio-based UPR grades—covering 50,000 tonnes—featuring up to 30% bio-content. These grades achieved notable take-up in marine and automotive composites due to reduced environmental impact. Low-VOC formulations were adopted in 0.2 million tonnes of architectural coatings. Regulatory pressure in Europe prompted firms to shift 0.1 million tonnes of higher-VOC UPR to compliant variants. Lifecycle assessments show bio-UPRs offer 20% lower emission profiles, boosting appeal. Innovation in monomers, such as plant-derived fumaric acid, supports broader UPR sustainability trends.

CHALLENGE

UPR’s thermal and mechanical limitations hinder adoption in high-end aerospace and defense composites, which represent only 0.52 million tonnes of market demand.

Aerospace UPR volume stands at 0.52 million tonnes, but limited heat resistance (max service temp ~130 °C) and comparatively lower mechanical properties restrict wider use. Designers often favor epoxies (>0.3 million tonnes use in aircraft interiors) due to superior performance at elevated temperatures. Additionally, advanced marine or wind energy blades require resins compliant with standards like ISO 4589; UPR meets some but not all specifications, leading to substitution in 0.05 million tonnes of high-end projects. R&D on toughened or hybrid UPRs remains limited, representing a constraint on deeper penetration into precision composite sectors.

UPR for Composites Market Segmentation

The UPR market segmentation follows resin type and application, demonstrating usage patterns.

By Type:

Orthophthalic: resins make up 1.8–2.0 million tonnes (~35–39%), dominating due to cost-effectiveness and corrosion resistance.
Isophthalic: variants account for 1.6 million tonnes (~30%), preferred in tanks, pipes, and automotive applications for better strength.
DCPD: resins cover ~0.78 million tonnes (~15%), valued for low shrinkage and durability, used in construction machinery and pleasure boats.
Others: (VINYL ESTER blends, specialty grades) comprise ~0.83 million tonnes (~16%), serving niche high-performance applications or budget specialties.

By Application

Aerospace & Defense: Consumed 520,000 tonnes in 2023, mainly isophthalic UPRs. Used in aircraft interiors, radomes, and composite shelters. North America led with 230,000 tonnes, followed by Europe (180,000 tonnes) and Asia-Pacific (90,000 tonnes).
Automotive & Transport: Demand reached 1.04 million tonnes, with orthophthalic and DCPD UPRs used in body panels, fenders, and interior parts. Asia-Pacific consumed 460,000 tonnes, North America 320,000 tonnes, and Europe 210,000 tonnes.
Marine: Accounted for 1.1 million tonnes, used in hulls, decks, and marine interiors. DCPD resins preferred for water resistance. Asia-Pacific led with 480,000 tonnes, Europe with 300,000 tonnes, and North America 250,000 tonnes.
Construction: Largest segment with 1.6 million tonnes. Used in FRP panels, tanks, roofing sheets, and fittings. Orthophthalic resins dominate. Asia-Pacific led at 750,000 tonnes, North America at 450,000 tonnes, and Europe at 350,000 tonnes.
Consumer Goods: Totaled 620,000 tonnes, applied in bathtubs, furniture, electronics housings. DCPD-based UPRs led with 300,000 tonnes. Asia-Pacific consumed 330,000 tonnes, Europe 160,000 tonnes, and North America 130,000 tonnes.
Others: Made up 260,000 tonnes, covering electrical panels, FRP pipes, utility poles, and tanks. Asia-Pacific used 130,000 tonnes, North America 80,000 tonnes, and others 50,000 tonnes combined..

UPR for Composites Market Regional Outlook

Regional UPR demand diverges due to industrial trends and regulatory environments.

North America

used ~1.04 million tonnes (~20%) in 2023. Construction applications (talking tanks, pipes, panels) consumed ~0.3 million tonnes, automotive composites another 0.3 million tonnes, and residential/marine segments added 0.1 million tonnes each. Specialty aerospace resin demand reached 0.1 million tonnes. Resin pricing stands between USD 1,300–1,500 per tonne. Regional resin producers maintain 60% domestic capacity, importing the rest. Environmental standards encourage low-VOC and bio-resins, representing 0.1 million tonnes of new demand.

Europe’s

consumption is ~0.94 million tonnes (18%), with orthophthalic resins at 0.36 million tonnes, isophthalic at 0.28 million tonnes, DCPD at 0.14 million tonnes, and others at 0.16 million tonnes. Marine and construction sectors combine for 0.7 million tonnes usage. Emerging low-VOC and bio-based resins claimed 0.1 million tonnes, driven by EU chemical standards. Price stability ranged from USD 1,400–1,600 per tonne, higher than other regions.

Asia-Pacific

dominates the global UPR stage, consuming ~3.0 million tonnes (58% share). Capacity additions totaling 0.4 million tonnes in 2023 were driven by China’s investments in automotive compounding (≈1.0 million tonnes use), India’s infrastructure push (0.5 million tonnes use), and Vietnam’s composite industry expansion. The region’s marine sector added 0.2 million tonnes in FRP hulls and superstructures. Resin prices in the region average USD 1,200–1,400 per tonne, influenced by local petrochemical feedstocks. Liquid-form resin covers about 85% of supply, while solid formulations fill import-adjusted gaps.

Middle East & Africa

used ~0.21 million tonnes (4%), with construction (0.1), marine (0.05), and infrastructure composites (0.03) leading demand. Oil and gas pipeline resin demand reached 0.02 million tonnes. Capacity remains limited; most resin is imported. New GCC resin facilities added 0.05 million tonnes capacity, lowering average resin price to USD 1,100–1,300 per tonne. Local regulations do not yet push for bio-UPRs, but low-VOC grades are gaining traction across 0.05 million tonnes.

List Of UPR for Composites Companies

BASF
Dow Chemical
DSM
DuPont
Polynt
Ashland
AkzoNobel
Advanced Materials Technology
Shin-Etsu Chemical
Lonza GmbH
Reichhold
Swancor Ind
Tianhe Resin

BASF: BASF operates over 0.8 million tonnes of UPR capacity globally, including orthophthalic, isophthalic, and DCPD grades. The firm invested in a new 0.1 million tonne bio‑UPR line in 2023 and supplies to marine composites, automotive panels, and construction markets worldwide.

Polynt: Polynt is a leading resin supplier with 0.7 million tonnes capacity, across multiple grades. In 2023, the company added a 0.05 million tonne bio‑resin line and delivered 0.3 million tonnes to automotive composites and FRP infrastructure pipelines.

Investment Analysis and Opportunities

Investment in UPR for composites is strongly supported by stable demand—5.2 million tonnes annually—and significant capacity expansions of 0.4 million tonnes in Asia-Pacific in 2023. Infrastructure and automotive remain key sectors, with Asia‑Pacific alone consuming 3.0 million tonnes, while North America and Europe add ~1.04 and 0.94 million tonnes respectively. Key investment themes include sustainability, high-performance grades, and flexible capacity. Asia-Pacific expansions benefit from competitive feedstock availability and policy support. China, India, and Vietnam installed 0.4 million tonnes of new capacity in 2023. Projects under USD 100 million in total value, with off-take contracts in automotive composites projects, have short payback timelines—around 4 years—given robust resin demand growth. Bio-based resin lines present a compelling scenario. BASF, Polynt, and minor producers commissioned 0.15 million tonnes of bio-grade capacity by 2023. With resin buyers seeking lower VOC and sustainability labels, these resins command premium pricing of USD 100–200 per tonne. An additional 0.2 million tonnes of bio-based capacity planned by 2025 suggests growing investor interest. Capital intensity is moderate—setting a standard UPR plant (~0.1 million tonnes/year) costs USD 50–70 million, with margins driven by feedstock (styrene) pricing and contracted volumes. EPS resin capacity expansions in Asia correspond to USD 200+ million in capital deployed in 2023. Opportunities also exist in integrated composite production. Firms adding resin capacity alongside composite manufacturing facilities, such as automotive panel factories or FRP pipeline operations, avoid logistics markups (~USD 50–80 per tonne) and improve vertical margins. In the Americas and Europe, specialized resin lines (low-VOC, DCPD) support automotive and marine applications. Bio-UPR demand reached 0.05 million tonnes in 2023. Investment in pilot lines and licensing agreements could secure sustainable product positioning. Smaller regions like Middle East & Africa also present potential. Local demand (~0.21 million tonnes) currently met via imports. Joint ventures to establish production could halve resin import costs (~USD 200 per tonne savings), creating new supply-chain dynamics. Platform strategies—resin diversification, sustainability grading, and integration with composite plants—are well-suited to attract private equity or government-backed funds, especially in infrastructure-dependent regions.

New Product Development

In 2023 and 2024, the unsaturated polyester resin (UPR) market for composites experienced significant advancements in new product development focused on sustainability, improved performance, and manufacturing efficiency. Bio-based UPRs emerged as a major innovation category. Leading producers introduced more than 150,000 tonnes of bio-based UPR capacity worldwide, using partially renewable feedstocks such as fumaric acid derived from plant-based sources. These new formulations achieved up to 30% bio-content and were integrated into marine, automotive, and consumer goods applications. By the end of 2023, approximately 50,000 tonnes of these bio-UPRs had been used in commercial-scale projects. Additionally, UV-curable unsaturated polyester resins entered widespread use, capturing over 200,000 tonnes of demand across industrial coatings, floorings, and decorative laminate markets. These UV-curable systems enabled faster cure times—up to 70% quicker than conventional peroxide systems—leading to enhanced productivity in panel manufacturing. These formulations were especially adopted in Asia-Pacific and Europe, where rapid-curing and low-emission systems are in high demand. The resin systems supported lower VOC profiles, helping manufacturers meet stringent environmental regulations. Manufacturers also developed new grades of orthophthalic UPRs with improved impact toughness. These reinforced formulations, deployed in infrastructure and security panels, demonstrated a 20% increase in resistance to mechanical stress while maintaining corrosion resistance and cost-efficiency. By mid-2024, over 35,000 tonnes of toughened orthophthalic UPRs had been installed across civil structures, including hospital cladding and public transport shelters.

Hybrid UPR-epoxy systems made headway in aerospace and wind energy markets. These blends provided enhanced thermal stability up to 150 °C, compared to conventional UPRs which typically tolerate only 120–130 °C. Over 50,000 tonnes of hybrid UPRs were developed and trialed in Europe, particularly in structural wind turbine blades and interior aerospace parts requiring strength, durability, and ease of molding. Meanwhile, low-shrink DCPD-based UPRs addressed warping and surface finish challenges in boat hull and railcar production. New formulations reduced shrinkage by 15% and improved glass transition temperatures by an average of 10 °C. In 2023 alone, about 40,000 tonnes of low-shrink DCPD UPRs were produced globally, with the majority applied in the marine industry. Nano-enhanced UPRs incorporating silica nanoparticles in concentrations of up to 5% were launched for demanding industrial applications. These nanocomposites showed improvements of 30% in thermal resistance and 25% in stiffness. Though currently niche, about 10,000 tonnes of nano-filled UPRs were trialed in 2024 for use in electronics housing and corrosion-resistant panels in chemical plants. In total, over 500,000 tonnes of newly formulated UPRs were developed and commercialized between 2023 and 2024, marking a pivotal shift toward higher-performing, environmentally conscious, and industry-specific resin solutions.

Five Recent Developments

Asia‑Pacific capacity increased by 0.4 million tonnes in 2023 through expansions in China and India.
BASF inaugurated a 0.1 million tonne bio‑UPR line in 2023, launching a new sustainability tier.
UV-curable resin systems totaling 0.2 million tonnes were commercialized by major global producers in 2023.
Europa production of hybrid UPR-epoxy grades (~0.05 million tonnes) commenced in 2024, targeting aerospace composites.
Several toughened orthophthalic and DCPD lines entered 2024 markets, offering 15–20% better physical properties.

Report Coverage of UPR for Composites Market

This report delivers extensive coverage of the Unsaturated Polyester Resin (UPR) for Composites Market, integrating volume-based analysis across resin types, applications, and regions through current and future outlooks. Resin type analysis includes orthophthalic (1.8–2.0 million tonnes), isophthalic (1.6 million tonnes), DCPD (0.78 million tonnes), and other specialty resins (0.83 million tonnes). Construction, marine, automotive, aerospace, consumer goods, and other composites are detailed accordingly. The orthophthalic segment's dominance is noted, with isophthalic and DCPD growth tracked. Application segments quantify usage: construction composites consume ~1.6 million tonnes (31%), marine composites ~1.1 million tonnes (22%), automotive & transport ~1.04 million tonnes (20%), aerospace & defense ~0.52 million tonnes (10%), consumer goods ~0.62 million tonnes (12%), and other segments ~0.26 million tonnes (5%). Geographic coverage includes Asia-Pacific (3.0 million tonnes, 58%), North America (1.04 million tonnes, 20%), Europe (0.94 million tonnes, 18%), and Middle East & Africa (0.21 million tonnes, 4%). Capacity expansions of 0.4 million tonnes in Asia, regional pricing, and material adoption trends complement consumption data. Leader profiling highlights BASF and Polynt as primary players, with 0.8 and 0.7 million tonnes capacity each, along with bio-based product investments and supply strategies. Secondary participant analysis includes Dow, DSM, DuPont, Ashland, AkzoNobel, Shin‑Etsu, Lonza, Reichhold, Swancor, Tianhe Resin. Investment analysis assesses board-level strategies: plant additions, backlog of infrastructure orders, premium bio-product lines, and integrated composite expansion. Capital intensity ranged USD 50–70 million for 0.1 Mt lines; capacity additions valued at over USD 200 million in Asia. New product coverage details innovations: bio-UPR, UV-curable grades, hybrid resin systems, toughened types, and nano‑filled formulations. These developments offer differentiated performance for marine, aerospace, and industrial composite sectors. Market dynamics section addresses drivers like Asia construction demand, restraints from volatility and resin competition, opportunities in bio/resin innovations, and challenges in aerospace applications due to performance limits. Price analysis sees Asia resin prices at USD 1,200–1,400/t, North America at 1,300–1,500, and Europe at 1,400–1,600. Regional cost differences derive from feedstock and logistics. Recent developments cover major capacity expansions, new facility launches, product introductions, and innovation trends. For example, 0.4 Mt expansions, bio-line startup, UV resin launch, aero hybrid resin lines, and property-enhanced resin introductions. Overall, the report provides depth in volume, type, application, geography, and company positioning for informed strategic decision-making in manufacturing, investment, R&D, and market access.