Global TCD Alcohol DM Market will Reach US$19.9 mn by 2023 owing to Rising Demand for UV Cured Inks
Tricyclodecanedimethanol alcohol is a highly viscous and colorless substance, which has a characteristic odor. TCD alcohol DM is sparingly soluble in water, aliphatic, and aromatic hydrocarbons. Primarily, TCD alcohol DM is used in the manufacture of dimethacrylates, which are used in various UV curing applications such as adhesives, inks, electronics, and coatings.
The global TCD alcohol DM market is expected to expand from US$10.9 mn in 2014 to US$19.9 mn by 2023, progressing at a 7.0% CAGR during the period from 2015 to 2023. The increasing demand for UV-cured adhesives is predicted to drive the global TCD alcohol DM market during the forecast period. Even though proprietary technology is a primary factor restricting the growth of the global TCD alcohol DM market, research and developments in the optoelectronics segment will create new growth opportunities for the global TCD alcohol DM market in the years to come.
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Asia Pacific to Lead Global TCD Alcohol DM Market
TCD alcohol DM offers outstanding elasticity, and transparency to the final product and is suitable for the production of high-performance hard surface coatings. The global TCD alcohol DM market is segmented on the basis of geography and application. By geography, the global TCD alcohol DM market is divided into Europe, Asia Pacific, North America, Latin America, the Middle East and Africa, and Rest of the World. In 2014, in terms of volume, Asia Pacific accounted for over 35% of the global TCD alcohol DM market. Increasing environmental awareness and advancements in the electronics industry are expected to drive the Asia Pacific TCD alcohol DM market in the years to come.
North America is predicted to experience steady growth in the global TCD alcohol DM market in the coming few years. Over the past few years, there has been considerable growth in the commercial printing and publication segment, especially in the Asia Pacific region, resulting to the growth in the demand for TCD alcohol DM in this segment. Europe is predicted to be the fastest-growing region in the global TCD alcohol DM market in the coming few years.
UV Cure Coatings Segment to Register Maximum Demand for TCD Alcohol DM
By application, the global TCD alcohol DM market is classified into UV cure coatings, UV inkjet inks, and others. The others segment is sub-segmented into optoelectronics and UV adhesives. In 2014, in terms of volume, the UV cure coatings segment led the global TCD alcohol DM market, accounting for 45%. Rapid developments in the electronics industry are predicted to drive the demand for the UV coatings market during the forecast period.
Oxea GmbH, the leading supplier of polyols, solvents, and oxo derivatives, manufactures TCD alcohol DM. Oxea GmbH is the sole manufacturer of TCD alcohol DM in the market. The global TCD alcohol DM market dynamics are predicted to change once the patent expires at the end of 2023. Methacrylates possess decent wetting properties and thus are employed in UV curable inks. Over the past few years, there have been an increasing number of applications of TCD alcohol DM. Some of the applications that demand TCD alcohol DM are flexible packaging, commercial printing, corrugated containers, and publication.
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