The
global dicyclopentadiene
(DCPD) market is highly fragmented due to the presence of
various large and small players operating in the market, observes Transparency
Market Research. Competition among these players is also expected to rise
in the coming years. Leading players in the market are adopting new strategies
such as collaboration, mergers, partnership, and other to get a firm hold in
the market. For instance, Dow Chemical Company merged with E.I. du Pont de
Nemours & Company (DuPont) and started DowDuPont. This merger will result
in strengthening their position and will fuel growth in the global
dicyclopentadiene market. Few other players in the global
dicyclopentadiene market are Chevron Philips Chemical Company, Shell Chemicals,
Maruzen Petrochemical, Zibo Lujua Hongjin New Material Co. Ltd. and
LyondellBasell.
The
global dicyclopentadiene market is anticipated to reach US$0.902 bn by the end
of 2025 progressing from US$ 0.56 bn earned in 2016. To reach this valuation,
the market is projected to rise at 5.5% CAGR over the projected tenure.
Application
of dicyclopentadiene is likely to rise in EPDM elastometers and hydrocarbon
resins segments. EPDM elastometers provides incomparable resistance to heat,
steam, ozone, and water, which has increased use of dicyclopentadiene in this
segment. Moreover, the demand for unsaturated polyester resins also increased
due to its outstanding mechanical and functional properties such as heat
resistance, corrosion, and low weight. These factors increased use of
dicyclopentadiene in these two segments and drive the overall demand in the
global dicyclopentadiene market.
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Geographically,
North America is projected to lead the market on the account of growing marine,
plastics, and polymer industries. However, strict regulations on exposure to
DCPD might deter growth of dicyclopentadiene in Europe. On the other hand, Asia
Pacific is projected to fuel demand in the global dicyclopentadiene market due
to increasing development in infrastructure and construction industries.
Growing Dicyclopentadiene Application in Resins
Manufacturing to Fuel Markets Growth
Developments taking place in the plastic and resins industries
are likely to expand the global dicyclopentadiene market in the forthcoming
years. Significant rise in the plastic industry in Asia Pacific has boosted
demand for dicyclopentadiene thus, contributing a promising rise to the global
dicyclopentadiene market. Dicyclopentadiene is used for manufacturing different
types of resins such as epoxy resins, aromatic hydrocarbon resins, phenolic
resins, acrylates, lattices, unsaturated polyester resins, specialty resins, and
other specialty intermediates, which has further augmented demand in the global
dicyclopentadiene market.
Adding further to the growth prospects in the global
dicyclopentadiene market is the growing use of poly-DCTD. The demand for
poly-DCTD is rising due to its lightweight properties that do not hamper
performance of vehicle. Growing preference for lightweight automotive in
vehicles, as they increases fuel efficiency in vehicles. These factors have
accelerated demand for dicyclopentadiene in automotive industry.
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Shifting Trends
towards Renewable Sources Might Challenge Growth in Dicyclopentadiene Market
Environmental concerns related with the use of exploration &
production activities along with wastewater treatment in oil recovery are the
major reasons deterring the growth in the global dicyclopentadiene market. High
cost of production and manufacturing of dicyclopentadiene might obstruct the
growth in this market. Additionally, shifting trends towards renewable sources
is another factor that might challenge the market’s performance. Rising use of
phthalic anhydride as a DCPD substitute in building boats is another restraint
needs to be tailored.
The study presented here is based on a report by Transparency
Market Research (TMR) titled “Dicyclopentadiene (DCPD) Market (Application -
Unsaturated Polyester Resin, Hydrocarbon Resin, Ethylene Propylene Diene
Monomer (EPDM) Elastomers, Cyclic Olefin Polymer (COP) and Cyclic Olefin
Copolymer (COC), Poly DCPD, Pesticide, and Flame Retardant) - Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025”.
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Chemicals and Materials Sector
Companies in the
Dicyclopentadiene market have increasingly shifted gears with wide application
of digital technology across the continuum, from raw material sourcing to
manufacturing to generation of final output, to warehousing to final
distribution operations. Among the various affects, the market is witnessing
new growth economics due to thinning of line between specialty and commodity
businesses that are associated with the larger ecosystem. At the same time, new
growth parameters are being vigorously being debated as industry stakeholders
put greater emphasis on the circular economy processes.
