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.”
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