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The dicyclopentadiene (DCPD) market size is estimated to grow by USD 238.4 million at a CAGR of 5.43% between 2023 and 2028. The growing demand from Asian countries, particularly countries experiencing rapid industrialization and urbanization, is driving the overall market growth. Additionally, the increase in demand for hydrocarbon resins, which are used in various applications such as adhesives, coatings, and printing inks, is further contributing to market expansion. Moreover, growth in the construction and automotive industries, which are major consumers of hydrocarbon resins for various applications, is also fueling market growth. Overall, these factors indicate a positive outlook for the market in the coming years.
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The market share growth by the UPR segment will be significant during the forecast period. There are several types of polyester resins, including saturated polyester resin, alkyd resin, vinyl ester resin, and unsaturated polymer resins (UPR). UPRs are thermoset resins as well. UPRs are used to make fiber-reinforced plastics as well as non-reinforced filled products. As UPRs are simple to process, they can be used in the construction of both small and large structures. The types of UPRs are ortho-phthalic resin, isophthalic resin, and DCPD resin.
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The UPR segment was valued at USD 278 million in 2018. UPRs are used in a variety of industries, including building and construction, automotive, marine, pipes and tanks, wind energy, and electrical and electronics. UPRs are also used in the marine and automotive industries to make sanitary ware, pipes, tanks, gratings, and high-performance components. UPR is in high demand due to the growing number of automotive manufacturing plants and marine industries. The growing number of manufacturing facilities also drives up demand for these and related products. Thus, due to these factors, the global UPR market will witness growth, which in turn, will boost the market in the forecast period.
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APAC is estimated to contribute 55% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
During the forecast period, the market in APAC is expected to grow significantly. This increase can be attributed to rising demand for dicyclopentadiene in a variety of end-user industries, including automotive, construction, and electronics. Furthermore, countries such as China, Japan, and India are major contributors to the APAC region's market growth. These countries have a large number of manufacturing facilities, which will increase regional demand for dicyclopentadiene.
APAC is the largest consumer of poly-DCPD and UPR. The APAC automotive industry's expansion is expected to drive demand for dicyclopentadiene. Dicyclopentadiene is a raw material used to make resins, which are used to make automotive parts such as bumpers, fenders, and door panels. This is a polymer that is used in the production of trucks, buses, and tractors. It is said to have a low tensile modulus, to be flexible, and to be resistant to impact damage. To accelerate their business, commercial vehicle manufacturers are implementing various business strategies to increase production capacity. As the demand for commercial vehicles grows, so does the demand for manufacturing facilities. Hence, all these factors will drive the growth of the) market in the region during the forecast period.
Dicyclopentadiene (DCPD) is a crucial raw material used in the production of unsaturated polyester resin. These resins find extensive applications in various industries, including casting resins for making solidsurface countertops, automotive repair putty, gel coats, and low-cost thermosetting resins. DCPD is derived from the crystalline compound, Cyclopentadiene, through steam cracking of C5 petroleum products. The DCPD market is driven by the demand for high-performance resins in various end-use industries. DCPD resins offer several advantages such as low styrene content, low shrinkage, and excellent mechanical properties. They are widely used in the production of EPDM elastomers and biopolymers, providing sustainable solutions in the carbon-neutral circular economy. However, the high production cost and the risk of substitutes from alternative raw materials pose challenges to the DCPD market growth. Industrial catalysts and solvents are used in the Diels-Alder Reaction to produce DCPD, which adds to the overall production cost. The market is expected to witness significant growth due to the increasing demand for low-emission and eco-friendly resins in various industries. Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increase in demand for hydrocarbon resins is notably driving the market growth. Dicyclopentadiene (DCPD) is a hydrocarbon compound commonly used in the production of resins, coatings, adhesives, and elastomers. The growing demand for hydrocarbon resins, including unsaturated polyester resin (UPR), is a key driver for DCPD demand. Industries such as agriculture, transportation, and eco-friendly buildings rely on these products for their specific needs. Moreover, DCPD plays a crucial role in the electrical and electronics segments, where it is used in various applications.
Furthermore, as the automotive industry shifts towards electric vehicles (EVs), the demand for DCPD in OICA (International Organization of Motor Vehicle Manufacturers) standards and EV production is expected to rise. Hydrocarbon resins offer excellent tack, strong adhesion, and compatibility with various solvents and polymers, making them a preferred choice for manufacturers due to their cost-effectiveness and high performance. DCPD is a crucial raw material for hydrocarbon resin production, leading to an expected increase in DCPD demand. Consequently, the DCPD market is projected to grow significantly in the forecast period.
The increasing demand for bio-based EPDM is an emerging trend shaping the market growth. Manufacturers are investing in research and development activities to produce products that are environment-friendly as a result of rising concerns about the damaging impact of some products on the environment and regulations imposed by governmental bodies. One of the essential raw materials in the creation of EPDM is ethylene. EPDM can be 50%â70% bio-based, depending on the amount of ethylene used in the final composition. This is so because sugar cane is used to make ethanol, which is then used to make ethylene.
As it reduces greenhouse gas emissions and has a smaller carbon footprint, bio-based EPDM is environmentally friendly. The market is currently very small. However, in the upcoming years, it is anticipated to grow steadily. The demand for EPDM or bio-based EPDM will increase along with the development of new grades and applications during the forecast period, which will also fuel the demand for DCPD. Hence, all these factors will drive the growth of the DCPD market during the forecast period.
The toxic effects and health hazards of DCPD are major challenges impeding market growth. DCPD, the tricyclic form of CPD, is one of the most toxic cycloolefin compounds. In humans, DCPD can irritate the eyes, skin, and respiratory system. It has low acute toxicity when applied to the skin but is extremely toxic when inhaled. When DCPD is consumed, it can cause severe lung inflammation and edema. Furthermore, when DCPD is exposed to water, it becomes toxic. If DCPD is released into the aquatic environment for an extended period of time, it can have long-term negative effects on aquatic life, such as respiratory irritation.
As DCPD is flammable, it should only be used in closed systems with no ignition sources. DCPD should be kept away from oxidants and fire when being stored, transported, or used. When DCPD reacts with oxidants, it oxidizes to hyperoxide, which is combustible. When exposed to heat or shaken, hyperoxide explodes. Therefore, the risks and health hazards associated with DCPD are the major challenges that will restrict the growth of the DCPD market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Texmark Chemicals Inc. - The company provides products such as DCPD, DCPD/CPD Alcohol, Resin Intermediate, Alcohols & Aromatic Solvents, and others. The key offerings of the company include dicyclopentadiene, which is used to create specialty polymers and fine chemicals.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market Companies, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
Dicyclopentadiene (DCPD) is a crystalline compound derived from the steam cracking of C5 petroleum products. It is a valuable raw material used in the production of various resins, including casting resins, solidsurface countertops, automotive repair putty, gel coats, fiber-reinforced plastics (FRP), and low-cost thermosetting resins. DCPD is known for its low shrinkage and high purity grade, making it an essential ingredient in the production of low styrene content resins.
Furthermore, in the plastics industry, DCPD is used to manufacture aromatic hydrocarbon resins, epoxy resins, unsaturated polyester resins, phenolic resins, specialty resins, alkyds, acrylates, lattices, and Poly (DCPD). DCPD also finds applications in the production of flavors and fragrances, Rubber, ethyl norbornene, cyclic olefin copolymers, antioxidants, and ultrahigh purity DCPD. The automotive sector and marine sector are significant consumers of DCPD, using it in the production of casting resins, automotive repair putty, and gel coats. DCPD is also used in the production of EPDM elastomers and biopolymers, contributing to sustainable solutions in the plastics industry. The shift towards a carbon-neutral circular economy has further boosted the demand for DCPD as a raw material in the production of eco-friendly plastics and resins.
Market Scope |
|
Report Coverage |
Details |
Page number |
190 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.43% |
Market growth 2024-2028 |
USD 238.4 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.04 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 55% |
Key countries |
US, China, Japan, South Korea, and Canada |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Braskem SA, Chevron Corp., China Petrochemical Corp., Dow Inc., Exxon Mobil Corp., KH Chemicals BV, LyondellBasell Industries N.V., Maruzen Petrochemical Co. Ltd., Merck and Co. Inc., NOVA Chemicals Corp., Ravago Chemicals, Shandong Yuhuang Chemical Group Co. Ltd., Shell plc, SIBUR International GmbH, Sojitz Corp., Sunny Industrial System GmbH, Texmark Chemicals Inc., Tokyo Chemical Industry Co. Ltd., Zeon Corp., and Zibo Luhua Hongjin New Material Group Co. Ltd. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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