ALBANY, New York, December 5, 2018
ALBANY, New York, December 5, 2018 /PRNewswire/ --
The Dicyclopentadiene (DCPD) market has a highly fragmented vendor landscape, Transparency Market Research (TMR) observes. Five prominent players operating in the market collectively accounted for 41% share in the global Dicyclopentadiene (DCPD) market. Some of the prominent players operating in the dicyclopentadiene (DCPD) market are Maruzen Petrochemical, Zibo Lujua Hongjin New Material Co. Ltd., Shell Chemicals, Kolon Industries, Inc., and Fushun Yikesi New Material Co. These players are increasingly adopting strategies such as mergers and acquisitions, and collaboration with local players in order to improve their global presence and distribution channels.
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A report from TMR estimates, the global dicyclopentadiene (DCPD) market is predicted to attain a value of US$902.3 mn growing from US$561.8 mn in 2016. The market is expected to expand with a CAGR of 5.5% over the forecast period between 2017 and 2025. Based on application, the market is dominated by the EPDM elastomers, polyester resins, and hydrocarbon resins segments and is likely to witness a surge in demand over the forecast period. Based on the region, Asia Pacific dominated the global dicyclopentadiene (DCPD) market by accounting for more than 50% of shares in 2016.
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Advancements on Using DCPD to Propel Growth of Market
Dicyclopentadiene (DCPD) is a linkage of two polymers of dicyclopentadiene. It is a white crystalline chemical with the same odor of camphor produced through the steam cracking of C5 petroleum products such as naphtha, crude oil, and gas oils.
Growing need for cost-effective and efficient vehicles is attracting the manufacturers to invest in the researchers, which is boosting the growth of the global dicyclopentadiene (DCPD) market. In order to reduce the weight of vehicle, the poly-DCTD is the most preferred material. These factors have boosted adoption of the DCPD and likely to propel the growth of the global dicyclopentadiene (DCPD) market.
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Additionally, numerous governments in countries in regions such as North America and Europe have imposed strict regulations on styrene emissions. Thus, it encourages usage of DCPD as a raw material to decrease emission of styrene content by 42% to 35% in unsaturated polyester resins. This factor is propelling adoption of the DCPD and is likely to propel growth of the global dicyclopentadiene (DCPD) market.
Expensive Manufacturing to Restrain Growth of Market
Numerous hazardous chemicals are emitted while manufacturing the DCPD. Growing awareness about the environment is encouraging governments to impose strict regulations. Thus, the manufacturing of DCPD is involving some advanced techniques, which in turn is increasing the cost of the manufacturing. The aforementioned factors are limiting the growth of the global dicyclopentadiene (DCPD) market. Additionally, lack of skilled labors to handle complicated manufacturing and usage of DCPD is hampering the growth of the global dicyclopentadiene (DCPD) market. Nonetheless, growing demand from the automotive industry is expected to offer lucrative opportunities for growth over the forecast period.
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This information is encompassed in the new report by 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."
For the study, the dicyclopentadiene (DCPD) market has been segmented as follows:
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