Latin American UPR Market Trends and Forecasts
Lucintel finds that the future of the Latin American UPR material market looks promising with opportunities in construction, pipe and tank, marine, transportation, and electrical and electronics end use industries. The Latin American UPR market is expected to grow with a CAGR 2% 2024 to 2031. The major drivers for the market growth are increasing demand from the construction and transportation sectors, driven by urbanization and infrastructure growth, along with rising adoption of lightweight composite materials for enhanced performance and sustainability.
Most of the Latin American UPRs are made from raw materials like glycols (e.g., propylene glycol, diethylene glycol), unsaturated acids or anhydrides (e.g., maleic anhydride, fumaric acid), and saturated acids or anhydrides (e.g., phthalic anhydride, isophthalic acid). To reduce viscosity and enable crosslinking during the curing process, typically a reactive diluent such as styrene monomer is used. Additionally, there are inhibitors (such as hydroquinone) used to control the polymerization process and fillers or additives in order to improve particular properties of resins.
• Lucintel forecasts that construction will remain the largest end use industry over the forecast period due to rapid urbanization, government investments in infrastructure, and a strong push for cost-effective, durable, and corrosion-resistant composite materials in residential and commercial projects.
• Hand lay-up & spray layup will remain the largest manufacturing process over the forecast period due to high demand for low-cost, versatile FRP products in construction, transportation, and marine industries drives growth.
Country wise Outlook for the Latin American UPR Market
The Latin American UPR market is witnessing substantial growth, driven by increased demand from various end use industries such as pipe and tank, transportation, construction, construction, marine, electrical and electronics, and others. Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. Below image highlights recent developments by major Latin American UPR producers in key regions/countries:
Emerging Trends in the Latin American UPR Market
The Latin American market for unsaturated polyester resin (UPR) is gaining momentum as industries across automotive, construction, and energy increasingly adopt lightweight and cost-effective composites. Driven by industrial growth, infrastructure projects, and rising demand for sustainable materials, the region is seeing dynamic shifts in how UPR is produced, distributed, and applied. Several emerging trends are shaping the outlook of the UPR market in Latin America.
• Rising Demand from Automotive and Transportation: The expansion of the automotive sector in countries such as Brazil and Mexico is fueling greater use of UPR in lightweight body panels, interiors, and structural applications. Automakers are increasingly focused on fuel efficiency and emission reduction, creating a strong push for composite adoption in the region.
• Infrastructure Growth Driving Construction Applications: Large-scale infrastructure development, including housing, commercial projects, and public works, is driving demand for UPR in construction materials such as pipes, panels, and coatings. The durability, corrosion resistance, and cost-effectiveness of UPR make it an attractive material for supporting rapid urbanization in Latin America.
• Shift Toward Sustainable and Bio-Based Resins: Environmental regulations and sustainability initiatives are encouraging the adoption of bio-based and low-VOC UPR formulations. Suppliers are gradually introducing eco-friendly options, aligning with regional and global climate commitments while appealing to environmentally conscious industries and consumers.
• Expansion of Local Manufacturing and Supply Chains: Latin America is witnessing increased investment in local UPR production facilities and distribution networks. By strengthening regional supply chains, suppliers can reduce reliance on imports, lower costs, and ensure faster delivery, which is crucial for supporting automotive and construction industries.
• Integration of Advanced Composites and Hybrid Resins: There is a growing interest in advanced UPR formulations, including hybrid and nano-enhanced variants, which offer improved thermal resistance, toughness, and performance. These innovations open up opportunities for high-stress applications in automotive, wind energy, and industrial equipment sectors across the region.
The Latin American UPR market is evolving rapidly, with strong momentum coming from automotive lightweighting, construction expansion, sustainability initiatives, localized manufacturing, and advanced resin innovations. These trends highlight a clear path for suppliers to capture growth opportunities while aligning with the region’s industrial and environmental goals. As demand rises across multiple sectors, Latin America is set to become a significant growth hub for UPR in the coming years.
Recent Developments by the Latin American UPR Market
The Latin American market for unsaturated polyester resin (UPR) is witnessing steady growth, driven by the expansion of infrastructure, construction, automotive, and marine industries. With rising demand for lightweight, durable, and cost-effective materials, UPR is increasingly being adopted across the region. Recent developments highlight how suppliers and end-use industries are adapting to new requirements for performance, sustainability, and regional self-sufficiency.
• Strong Market Growth Projections: The Latin American UPR market is expected to grow significantly over the next decade, supported by rising demand in key sectors such as construction, automotive, and energy. Countries like Brazil and Mexico are leading this growth, with expanding industrial activities and large-scale infrastructure investments creating new opportunities for resin applications.
• Infrastructure and Construction Driving Demand: Infrastructure development including bridges, pipelines, water systems, and housing projects is boosting the use of UPR composites. These materials are favored for their corrosion resistance, durability, and lightweight nature, making them a practical choice for public works and private construction projects in the region.
• Shift Toward Eco-Friendly Formulations: Sustainability has become a priority, leading to the development and adoption of low-VOC, low-styrene, and bio-based UPR variants. These formulations align with environmental regulations and consumer demand for greener products, especially in urban areas where air quality and ecological impact are important considerations.
• Rising Demand for High-Performance Resins: Industries are increasingly looking for advanced UPR types with better mechanical strength, heat resistance, and chemical resistance. These specialized resins are finding applications in demanding sectors such as automotive, marine, and wind energy, where performance requirements go beyond standard UPR grades.
• Regional Manufacturing and Supply Chain Growth: To meet increasing demand and reduce reliance on imports, local production capacity is expanding across several Latin American countries. Regional suppliers are investing in manufacturing facilities and tailoring products to local needs, which improves supply reliability and strengthens the overall value chain in the UPR market.
The Latin American UPR market is developing rapidly, supported by infrastructure expansion, sustainability initiatives, and growing industrial applications. The shift toward eco-friendly and high-performance formulations, combined with the strengthening of local supply chains, positions the region for strong growth in the years ahead. These developments highlight UPR’s vital role as a cost-effective and versatile material in Latin America’s evolving industrial landscape.
Strategic Growth Opportunities for Latin American UPR Market
The Latin American market for unsaturated polyester resin (UPR) is witnessing strong growth, driven by increasing demand in construction, automotive, and marine sectors. Rapid urbanization, infrastructure development, and rising automotive production in countries like Brazil, Mexico, and Argentina are creating opportunities for UPR applications. Suppliers who align with regional trends in sustainability, cost efficiency, and technological advancements have the chance to expand significantly in this dynamic market.
• Infrastructure and Construction Boom: Latin America is experiencing large-scale investments in infrastructure and housing projects. UPR, widely used in pipes, tanks, roofing, and construction composites, can see significant growth as governments and private sectors focus on durable and cost-effective building materials.
• Automotive Manufacturing Expansion: Countries like Brazil and Mexico serve as major automotive hubs in the region. With automakers increasingly looking for lightweight materials to improve efficiency, UPR composites can find greater use in vehicle parts such as body panels, interior components, and under-the-hood applications.
• Adoption of Sustainable and Bio-Based Resins: Environmental awareness is rising across Latin America, with stricter regulations on emissions and material sustainability. Bio-based UPR and formulations with recycled content present an opportunity for suppliers to meet these requirements while differentiating themselves in a competitive market.
• Marine and Corrosion-Resistant Applications: With long coastlines and a strong marine economy in several countries, UPR has opportunities in the production of boats, corrosion-resistant coatings, and water tanks. Growth in marine tourism and offshore energy projects further strengthens demand for UPR in these sectors.
• Market Penetration Through Local Partnerships: Forming joint ventures, collaborations, and distribution agreements with local players can help global UPR suppliers establish a stronger presence in Latin America. Localized production and supply chains reduce costs, ensure faster delivery, and improve competitiveness in a price-sensitive market.
The Latin American UPR market offers promising opportunities across multiple industries. Infrastructure development, automotive production, sustainability initiatives, marine applications, and regional partnerships are key drivers of growth. By capitalizing on these opportunities, suppliers can strengthen their market presence, meet local demands, and contribute to the region’s shift toward more efficient and sustainable composite solutions.
Latin America UPR Market Drivers and Challenges
The Latin American market for unsaturated polyester resin (UPR) composites is experiencing notable growth, driven by the regionÄX%$%Xs expanding infrastructure, automotive, and renewable energy sectors. UPR composites are increasingly utilized for their lightweight, durable, and cost-effective properties. However, the market faces challenges such as fluctuating raw material costs and environmental regulations that impact production and adoption.
The key drivers for this market include:
• Infrastructure Development and Urbanization: Rapid urbanization and infrastructure development in Latin America are significant drivers of the UPR composites market. The construction of roads, bridges, and buildings increases the demand for lightweight and durable materials like UPR composites. These materials are preferred for their resistance to corrosion and ease of molding into complex shapes, making them ideal for various construction applications.
• Growth in Automotive Production: The automotive industry in Latin America is expanding, with increasing production and demand for vehicles. UPR composites are used in automotive applications to reduce vehicle weight, enhance fuel efficiency, and improve performance. The adoption of UPR composites in automotive manufacturing aligns with global trends toward lightweight materials and sustainability.
• Expansion of Renewable Energy Projects: The push for renewable energy sources in Latin America, particularly wind energy, is driving the demand for UPR composites. Wind turbine blades require materials that are lightweight, durable, and resistant to environmental factors. UPR composites meet these requirements, making them a preferred choice for manufacturing wind turbine components, thereby supporting the regionÄX%$%Xs renewable energy initiatives.
The challenges facing this market include:
• Volatile Raw Material Prices: The production of UPR composites relies on raw materials like styrene and maleic anhydride, which are subject to price fluctuations due to global supply and demand dynamics. These volatile raw material costs can lead to increased production expenses and affect the pricing stability of UPR composites in the Latin American market.
• Environmental Regulations and Compliance: Stricter environmental regulations concerning volatile organic compound (VOC) emissions and hazardous substances pose challenges for UPR composite manufacturers in Latin America. Compliance with these regulations requires investment in research and development to create eco-friendly alternatives and may lead to increased operational costs.
The Latin American UPR composites market is poised for growth, propelled by infrastructure development, automotive expansion, and renewable energy projects. However, manufacturers must navigate challenges such as volatile raw material prices and stringent environmental regulations. Addressing these challenges through innovation and strategic planning will be crucial for capitalizing on the emerging opportunities in the region.
List of Latin American UPR Companies
Companies in the Latin American market compete on the basis of resin quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies composites in Latin American UPR market companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the composites in Latin American UPR market companies profiled in this report include.
• Polynt Group
• AOC (Nippon Paint Holdings Co., Ltd)
• INEOS Composites (KPS Capital)
• Reacciones Quimicas SA de CV
Latin American UPR Market by Segment
Lucintel forecasts that construction will remain the largest end use industry over the forecast period due to increasing infrastructure projects, renovations, and the demand for lightweight, durable composite materials. The study includes a forecast for the Latin American UPR market by end use industry, product type, and manufacturing process as follows:
By End Use Industry [Value ($M) and Volume (M lbs.) Analysis for 2019 – 2031]:
• Pipe and Tank
• Transportation
• Construction
• Marine
• Electrical and Electronics
• Other End Use Industries
By Product Type [Value ($M) and Volume (M lbs.) Analysis for 2019 – 2031]:
• Orthophthalic
• Isophthalic
• DCPD and Other Product Types
By Manufacturing Process [Value ($M) and Volume (M lbs.) Analysis for 2019 – 2031]:
• Hand Layup & Spray-Up
• Filament Winding
• Compression Molding
• RTM/Injection Molding
• Pultrusion
• Other Manufacturing Processes
Features of the Latin American UPR Market
• Market Size Estimates: The Latin American UPR Market size estimation in terms of value ($M) and volume (M lbs.).
• Trend and Forecast Analysis: Market trends (2019-2024) and forecast (2025-2031) by various segments.
• Segmentation Analysis: Market size by end use industry, product type, and manufacturing process.
• Growth Opportunities: Analysis of growth opportunities in different end use industry, product type, and manufacturing process.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the Latin American UPR market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
If you are looking to expand your business in Latin American UPR or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.
FAQ
Q1. What is the growth forecast for Latin American UPR market?
Answer: The Latin American UPR market is expected to grow at a CAGR of 2% from 2025 to 2031.
Q2. What are the major drivers influencing the growth of the Latin American UPR market?
Answer: The major drivers for the market growth are increasing demand from the construction and transportation sectors, driven by urbanization and infrastructure growth, along with rising adoption of lightweight composite materials for enhanced performance and sustainability.
Q3. What are the major applications or end use industries for the Latin American UPR market?
Answer: Construction and transportation are the major end use industries in the Latin American UPR Market.
Q4. What are the emerging trends in composites in Latin American UPR market?
Answer: Emerging trends, which have a direct impact on the dynamics of the Latin American UPR market, includes rising demand from automotive and transportation, infrastructure growth driving construction applications, shift toward sustainable and bio-based resins, expansion of local manufacturing and supply chains, and integration of advanced composites and hybrid resins.
Q5. Who are the key composites in Latin American UPR market companies?
Answer: Some of the key composites in Latin American UPR market companies are as follows:
• Polynt Group
• AOC (Nippon Paint Holdings Co., Ltd)
• INEOS Composites (KPS Capital)
• Reacciones Quimicas SA de CV
Q6.Which composites in Latin American UPR market manufacturing process will be the largest in future?
Answer: Lucintel forecasts that hand lay-up & spray layup will remain the largest manufacturing process over the forecast period due to high demand for low-cost, versatile FRP products in construction, transportation, and marine industries drives growth.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
This report answers following 10 key questions:
Q.1 What are some of the most promising potential, high growth opportunities for the Latin American UPR Market by end use industry (pipe and tank, transportation, construction, marine, electrical and electronics, and other end use industries), product type (orthophthalic, isophthalic, and DCPD & other product types), manufacturing process (hand-lay up & spray-up, filament winding, compression molding, RTM/injection molding, pultrusion, and other manufacturing processes)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.4 What are the business risks and threats to the market?
Q.5 What are the emerging trends in this market and the reasons behind them?
Q.6 What are the changing demands of customers in the market?
Q.7 What are the new developments in the market? Which companies are leading these developments?
Q.8 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.9 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.10 What M & A activities have taken place in the last 6 years in this market?