Dicyclopentadiene (DCPD) Market worth over $800 million by 2024
Published Date: March 5, 2018 Authors: Kiran Pulidindi, Soumalya Chakraborty
According to a new research report by Global Market Insights, Inc., the Dicyclopentadiene Market size will surpass $800 million by 2024 owing to the rapid industrialization, significant FDI investment, R&D activities and expansion of the automotive sector.
The constructive growth in automobile sector due to the change in lifestyle, increase in income level will in turn boost the market demand in coming years. Extensive usage of the product as a key raw material to manufacture the polyester and polymer resins which are further used to produce the parts and shell of vehicle and boats will also drive the dicyclopentadiene market share.
It is also used to produce the high purity resins which are used in high performance films, optical disks, lenses and other specialty electronic products. This will spur the entire dicyclopentadiene market value throughout the forecast timeframe. Asian countries are on the top of the list for the notable production and consumption of UPR owing to presence of several manufacturing units and industries, positively influencing the industry growth by 2024.
Presence of substitute products in the market will hinder the industry growth in future. For instance, phthalic anhydride can replace dicyclopentadiene in UPR and hydrocarbon resins production. Shifting trends towards the usage of renewable products will be another restraining factor for the market growth. As the product is used to manufacture the various types of resins which are non-renewable, thus, this factor will restrict the dicyclopentadiene market growth by 2024.
Browse key industry insights spread across 250 pages with 306 market data tables & 25 figures & charts from the report, “Dicyclopentadiene (DCPD) Market Size By Grade (High Purity, Polyester Grade, Hydrocarbon Grade), By Application (Unsaturated Polyester Resin, Hydrocarbon Resins, EPDM Elastomers, Cyclic Olefin Polymer (COP) & Copolymer (COC), Poly-DCPD), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
Dicyclopentadiene market has been divided on the basis of grade, application and region. The major grade segment includes hydrocarbon resins, high purity and polyester grade. The minor grades include low purity grade, polymer grade, etc. Among these, hydrocarbon resins and polyester grade will collectively hold over half of the entire market share throughout the forecast spell.
These grades are less expensive than high purity and also find their usage to produce PSA tapes & labels, specialty wax, adhesives and other products due to viscoelastic, heat & corrosion resistance and other mechanical properties.
Based on application, the dicyclopentadiene market is segmented into unsaturated polyester resin, hydrocarbon resins, EPDM elastomers, COC & COP and poly-DCPD. The other minor applications include pesticides, flame retardants, etc. In terms of revenue, hydrocarbon resins will likely generate more than USD 190 million in 2024. This is due to wide acceptance of the product as an ingredient to manufacture the non-woven products in various end-use industries owing to the excellent mechanical and physical properties.
Europe and North America’s will be the most notable markets, holding over 40% of the overall industry in coming years. Asia Pacific will account for over $400 million, growing at a significant CAGR through 2024. Substantial UPR production in China and Japan, low labor cost coupled with mature automotive and other manufacturing units in this region will promote the dicyclopentadiene market in Asia Pacific over the forecast timeframe. Positive demand from end-user industries will bolster the business growth in North America and in terms of revenue the region will account for more than $200 million in future.
The major producers in the dicyclopentadiene industry includes NOVA Chemicals, The Dow Chemical, LyondellBasell, Cymetech, Chevron Phillips, Braskem, Zibo Luhua Hongjin, China Petrochemical, Texmark, Shell Chemicals, Maruzen Petrochemical, Nanjing Yuangang, etc.