Development of Advanced Materials for End-Use Industries to Positively Impact Uptake of DCPD
The top four players in the global dicyclopentadiene (DCPD) market were Braskem SA, Kolon Industries, Inc., Zibo Luhua Hongjin New Material Co., Ltd, and Exxon Mobil Corporation. The cumulative share of these companies accounted for 23.1% in the global market in 2014. These players are anticipated to prioritize investing in the development of advanced materials for industries such as fashion, automotive, plastic, construction, and chemicals amongst others, a trend that will augment the uptake of DCPD. Currently, the market scenario looks tough for new entrants as these leading players have a strong foothold.The report states that the global DCPD market will be worth US$.0838 mn by 2023 rising from US$578 mn in 2014. Between 2015 and 2023, the global DCPD is expected to rise at a CAGR of 4.9%.
“Regional players will reap benefits by teaming up with leading players as they focus on expanding their production capacities in the regional market. This will ease the task of finding markets for new entrants as well,” observes the lead author of this research report. Overcoming the hurdle of capital intensive industry and facing the intense competition head-on will pave the way for new players in the near future.
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Peculiar Properties of DCPD Makes it Preferred Material in Various Industries
DCPD is extensively used in manufacturing various types of resins such as phenolic resins, aromatic resins, and hydrocarbon resins, which are used for making a variety of products. These resins are extensively used in industries such as automotive and its aftermarket that includes a range of related accessories. It also used for making various sports and gardening equipment along with other consumer goods. The characteristics of DCPD such as high resistance towards heat and corrosion, high stability, and toughness have made it a preferred ingredient in several manufacturing activities. Furthermore, to make lightweight goods by using DCPD without compromising on its mechanical strength is anticipated to boost this market in the near future.
Increasing demand for polyester concrete due to the burgeoning construction industry has also raised an unprecedented demand for DCPD in the recent times. Its unique characteristics such as excellent adhesion, quick setting, and high strength have allowed made it a popular material in the overall construction industry.
Health Hazards of DCPD Cast a Shadow on Market Trajectory
The ongoing demand for DCPD is being hampered by growing awareness about health hazards it can cause due to inhalation. An unaccounted amount of DCPD is lost in the environment during transportation, production, disposal, and usage. Breathing the same air can lead to respiratory issues and cause irritation to eyes and skin. For the older generation, this can lead to dizziness, vomiting, nausea, and headaches. Owing to these reasons, National Fire Protection Association (NFPA), The American Conference of Governmental Industrial Hygienists (ACGIH), and The National Institute for Occupational Safety and Health (NIOSH) have deemed DCPD as a hazardous substance. The cumulative effect of these factors is likely to restrain the overall market in the forthcoming years.
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Unsaturated Polyester Resins to Show Remarkable Progress in Forecast Period
DCPD is extensively applied for unsaturated polyester resins and thus remains the prime application segment of the overall market. By the end of 2023, the unsaturated polyester resins segment will hold a share of 44.0% in the overall market in terms of volume. The growing usage of unsaturated polyester resins in making pipes, sanitary ware, and tanks along with its increasing application in marine and automotive industries is anticipated to work in favor of the market. In terms of revenue, the unsaturated polyester resins segment is expected to expand at a CAGR of 5.1% to be worth US$371.2 mn by 2023.
The research indicated that Asia Pacific has been the largest consumer of DCPD due to the spike in the construction activities. The booming automotive manufacturing units across developing countries of Asia Pacific are also expected utilize DCPD in the near future. Owing to these reasons, by the end of 2023, the Asia Pacific DCPD market is expected to represent a 46.5% share in the global DCPD market.
This review is based on Transparency Market Research’s report, titled “Dicyclopentadiene (DCPD) Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023.”