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The dicyclopentadiene (DCPD) market size is estimated to grow by USD 239.25 million at a CAGR of 5.69% between 2022 and 2027. 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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This market report extensively covers market segmentation by application (UPR, hydrocarbon resins, EPDM elastomers, poly DCPD, and others), end-user (building and construction, automotive, electrical and electronics, and marine and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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 267.77 million in 2017. 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 53% 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 key ingredient in the production of unsaturated polyester resin (UPR), which finds applications across various industries such as agriculture, transportation, and eco-friendly buildings. In the transportation sector, DCPD is used in the manufacturing of electric vehicles (EVs) due to its properties that make it suitable for vehicle coverings and machinery outer bodies. However, exposure to these can pose risks such as skin, eye, and throat irritation, as well as potential effects on the neurological system, kidneys, and lungs. Overall, DCPD plays a vital role in the production of resins, varnishes, paints, and elastomers, but careful handling is essential to avoid health hazards. 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. 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%–70% 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 vendors, 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 forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market is driven by its use in various industries, including epoxy resins, phenolic specialty applications, and as a component in flame retardants. This is also utilized in the production of metallocenes, which are important in the manufacturing of certain plastics. Additionally, it finds applications in the production of pesticides and fiber-reinforced plastics (FRP). Its properties make it ideal for use in seals, gaskets, and O-rings, providing anti-corrosion qualities and electrical insulation. This is derived from petrochemical by-products like gas oils and crude oil and is used in various forms such as gel coatings.
The market is closely tied to the production of various products, including Ethylene Propylene Diene Monomer (EPDM) Rubber, which is used in automotive parts, construction materials, and electrical insulation. DCPD is also essential in creating a Green Corridor for transportation, ensuring environmentally friendly practices. In the agriculture sector, DCPD is used in the formulation of Agrochemicals and Insecticides, aiding in crop protection. It is a key ingredient in plastic flame retardants, enhancing fire safety in various applications. DCPD's chemical properties also make it suitable for use in thermoplastic polymers with low thermal conductivity and chemical inertness, ideal for the caustic or chlorine industries. The market is further driven by its use in cell covers and as a component in cyclic olefin co-polymers and antioxidants.
In the market, air and soil play crucial roles as DCPD is often released into the environment during its production and use. While DCPD is generally safe when used as intended, inhalation or ingestion can lead to breathing or swallowing issues, making proper handling and disposal essential. In industrial settings, workers are protected by wearing hoods and shields to prevent exposure. DCPD is derived from Naphtha and is used in the production of various chemicals, including Phthalic anhydride and Ethyl norbornene, which are used in plastics and coatings. It's important to note that DCPD can cause eye and skin irritation if proper precautions are not taken.
Dicyclopentadiene Market Scope |
|
Report Coverage |
Details |
Page number |
183 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.69% |
Market growth 2023-2027 |
USD 239.25 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.88 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 53% |
Key countries |
US, Canada, China, Japan, and South Korea |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, 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 NV, 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, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the 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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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