Saturated Polyester Resin Market Size, Trends & Growth Opportunity, By Type (Liquid saturated polyester resin, and Solid saturated polyester resin (Solid carboxyl-terminated saturated polyester resin and Solid hydroxyl-terminated saturated polyester resin)), By Application (Powder Coatings, Industrial Paints, Coil & Can Coatings, Automotive Paints, 2k PU Coatings, and Others), By Region and Forecast till 2027

Saturated Polyester Resin Market
The global Saturated Polyester Resin market was valued at USD 4860.45 million in 2021 and is expected to reach USD 6,598.5 million by 2027, growing at a CAGR of 4.22% from 2022 to 2027
Saturated polyester resin is formed by the reaction of polybasic acids and polyols, and its features include exceptional flexibility and hardness. In can coating, rolled steel, non-stick pan, ink, adhesive, PET coil, and metallic baking paint (such as automotive paint, and so on), it is primarily used.
Saturated polyester resin is water, heat, and humidity resistant; therefore, it offers a wide range of applications in several industries like paint and coating, which are projected to boost market growth over the forecast period. The expanding industrial sector is expected to spur market growth in the upcoming years. Additionally, strict government regulations imposed on VOC emissions have resulted in the development of eco-friendly technologies that are substituting for solvent-borne coatings. This, in turn, might fuel the demand for saturated polyester resin.

Drivers: Growing demand for powder coatings
Saturated polyester resins are primarily used to manufacture solvent-free powder paints and coatings. Owing to its superior properties, such as good weather resistance, excellent impact strength, and adhesion to metals (even under humid conditions). Saturated polyester resins are preferred for exterior and interior architectural applications, coating machinery, domestic appliances, steel furniture, and garden tools.
Growing construction and automotive sector are expected to drive the usage of powder coatings, thereby boosting the growth of the market during the forecast period. The construction sector has been witnessing a robust growth in Asia-Pacific, the Middle East, and Africa. In the Middle East and African region, governments have been making efforts to develop the non-oil sectors, after the region faced a financial crisis, due to the drastic fall in oil prices in the past.

Challenges: Economic Influences
Significant numbers of raw materials used in coating formulations are either derived directly from oil for their chemical composition, or indirectly as a result of energy derived from oil for their mining and/or processing. The price of oil can be highly volatile, and many factors can impact this forecast, driving the price/barrel either up or down. As a result, oil prices have a significant impact on the price of coating raw materials.
ChemQuest estimates that there is a "pass-through factor" of roughly 50%, i.e., if the price of oil doubles, raw material prices will increase by 50%. A realistic worst-case scenario might see prices of crude oil 50% higher than the forecast, which would increase raw materials for paints and coatings roughly 25%. Over the coming five years, the price of oil is forecast to remain relatively stable, within the range of $60–$70/barrel according to the U.S. Energy Information Administration (EIA).
The implication for raw material suppliers and coatings formulators is that the price of the base materials that comprise coatings will likely rise at a rate similar to the rate of inflation through 2022.
Opportunity: Trend toward Epoxy-Free Non-Bpa Can coatings
Consumer and regulatory pressure to replace bisphenol-A (BPA)-based materials in food-contact metal packaging coatings has increased in recent years. Bisphenol-A (BPA) is a chemical commonly used in food contact plastics and coatings applications, such as the BPA-epoxy-based linings of metal cans containing food or beverages.
With growing pressure from food brands, formulators and can makers are actively looking for alternative solutions that can meet or exceed the performance of BPA-based coatings. Among all the new resin technologies available today, polyesters with a balance of key performance attributes have emerged as one of the most promising alternative solutions.

Impact of Covid-19 on Saturated Polyester Resin Market
The outbreak of coronavirus has resulted in major disruptions of saturated polyester resin production and supply chains, a shortage of raw materials, and increased costs. In addition, the cost volatility of petroleum products is impacting the market. Nevertheless, end-users are seeking alternative supply sources to maintain supply chains. The recovery is likely to be strong after the outbreak is brought under control, owing to the wide scope of applications for saturated polyester resins.
Liquid Saturated Polyester is anticipated to be the largest contributor.
Based on the type segment, the overall market for saturated polyester resin market is segmented into two types: solid saturated polyester resin and liquid saturated polyester resin. The liquid-saturated polyester resin segment dominated the target market in 2019 because of its extensive usage in the coatings industry as industrial paints and automotive paints.
Application-wise, the worldwide market is classified into the automotive industry, home appliances, industrial machinery, and OEMs. Among this automotive industry has the highest market share owing to surge in the sale and production of vehicles around the globe. The demand is driven by rising sale and production of vehicles which requires polyester resins for automotive paintings, light covers, dashboards, panels, coating and among others.
Geographically, North America dominated the market with the highest revenue share due to the growing adoption of electric vehicles due to rising awareness about pollution control devices and increasing disposable income in this region, which have propelled the saturated polyester market.

Key Players:
Various key players are discussed in this report, such as Royal DSM N.V., Allnex Belgium SA/NV, Arkema S.A., Nuplex Industries Ltd., Stepan Company, Evonik Industries, Nippon Gohsei, Covestro AG, and Megara Resins.

Recent Developments:
In July 2020, DSM and Avril completed creation of joint venture to develop plant-based protein.
In July 2020, Arkema invested in continuous composites, strengthening their strategic partnership. Arkema reinforces its high-performance thermobonding adhesives business with the acquisition of Fixatti
In March 2019, Covestro announced partnership with Genomatica, a San Diego based biotechnology company, will deploy Genomatica's strengths in developing industrial-scale bioprocesses to produce widely used chemicals. Covestro complements the collaboration with strong know-how in chemical process technology and application development. 

Market Taxonomy
By Type
• Liquid saturated polyester resin
• Solid saturated polyester resin
o Solid carboxyl-terminated saturated polyester resin
o Solid hydroxyl-terminated saturated polyester resin
By Application
• Powder Coatings
• Industrial Paints
• Coil & Can Coatings
• Automotive Paints
• Flexible Packaging
• 2k PU Coatings
• Others
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
Key Questions Addressed by the Report
• What are the Key Opportunities in Saturated Polyester Resin Market?
• What will be the growth rate from 2022 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?
• What are the strategies adopted by key players?

Saturated Polyester Resin Market TOC
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Saturated Polyester Resin Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Saturated Polyester Resin Market, By Type
5.1 Y-o-Y Growth Comparison, By Type 
5.2 Saturated Polyester Resin Market Share Analysis, By Type 
5.3 Saturated Polyester Resin Market Size and Forecast, By Type
5.3.1 Liquid saturated polyester resin
5.3.2 Solid saturated polyester resin
5.3.2.1 Solid carboxyl-terminated saturated polyester resin
5.3.2.2 Solid hydroxyl-terminated saturated polyester resin
6 Saturated Polyester Resin Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Saturated Polyester Resin Market Share Analysis, By Application
6.3 Saturated Polyester Resin Market Size and Forecast, By Application
6.3.1 Powder Coating
6.3.2 Industrial Paints
6.3.3 Coil & Can Coatings
6.3.4 Automotive Paints
6.3.5Flexible Packaging
6.3.62k PU Coatings
6.3.7 Others
7 Saturated Polyester Resin Market, By Region
7.1 Saturated Polyester Resin Market Share Analysis, By Region
7.2 Saturated Polyester Resin Market Share Analysis, By Region
7.3 Saturated Polyester Resin Market Size and Forecast, By Region
8 North America Saturated Polyester Resin Market Analysis and Forecast (2022-2027)
8.1 Introduction
8.2 North America Saturated Polyester Resin Market Share Analysis, By Type
8.3 North America Saturated Polyester Resin Market Size and Forecast, By Application
8.4 North America Saturated Polyester Resin Market Size and Forecast, By Country
8.4.1 U.S
8.4.2 Canada
8.4.3 Mexico
9Europe Saturated Polyester Resin Market Analysis and Forecast (2022-2027)
9.1 Introduction
9.2 Europe Saturated Polyester Resin Market Share Analysis, By Type 
9.3 Europe Saturated Polyester Resin Market Size and Forecast, By Application 
9.4 Europe Saturated Polyester Resin Market Size and Forecast, By Country
9.4.1 Germany
9.4.2 France
9.4.3 UK
9.4.4. Rest of Europe
10 Asia Pacific Saturated Polyester Resin Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 Asia Pacific Saturated Polyester Resin Market Share Analysis, By Type 
10.3 Asia Pacific Saturated Polyester Resin Market Size and Forecast, By Application 
10.4 Asia Pacific Saturated Polyester Resin Market Size and Forecast, By Country
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4. Rest of Asia Pacific
11 Latin America Saturated Polyester Resin Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Latin America Saturated Polyester Resin Market Share Analysis, By Type 
11.3 Latin America Saturated Polyester Resin Market Size and Forecast, By Application 
11.4 Latin America Saturated Polyester Resin Market Size and Forecast, By Country
11.5.1 Brazil
11.5.2 Rest of Latin America
12 Middle East Saturated Polyester Resin Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Middle East Saturated Polyester Resin Market Share Analysis, By Type 
12.3 Middle East Saturated Polyester Resin Market Size and Forecast, By Application 
12.4 Middle East Saturated Polyester Resin Market Size and Forecast, By Country
12.5.1. Saudi Arabia
12.5.2. UAE
12.5.3. Egypt
12.5.4. Kuwait
12.5.5. South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14 Company Profiles
14.1 Royal DSM N.V
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2 Allnex Belgium SA/NV
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3 Arkema S.A
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Nuplex Industries Ltd
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Stepan Company
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Evonik Industries
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Nippon Gohsei
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Covestro AG 
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 Megara Resins
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies