The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Dicyclopentadiene Market.
It was estimated prior to this unanticipated outbreak that the Dicyclopentadiene Market was expected to grow at a CAGR of >4.0% by 2025. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Dicyclopentadiene (DCPD) is the dimer of cyclopentadiene produced through the Diels Alder Reaction. It is a colorless, flammable liquid or solid with camphor like odor. DCPD products are used in a wide variety of resins, such as unsaturated polyester resin, epoxy resin, hydrocarbon resin and phenolic resin. Apart from resins, DCPD is also used to produce paints, varnishes, insecticides, elastomers, flame retardants for plastics, and hot melt adhesives.
DCPD is principally available in three grades: Resin grade, UPR grade, and High purity grade. Resin grade is mainly used to produce cyclo aliphatic and C5/C9 whereas UPR grade is used to produce unsaturated polyester resins; and high purity grade is mainly used to produce antioxidants, flavors & fragrances, and cyclic olefin co-polymers. Resin grade and high purity grades can also be used to produce unsaturated polyester resins.
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Unsaturated polyester resins are expected to remain the growth engine of the global DCPD market during the forecast period. It is a material of choice in a wide array of industries, such as building & construction, automotive, marine, and electrical & electronics. It is a low cost option and excels in the price vs performance requirement of most of the composite applications. Hydrocarbon resin is likely to remain the second largest application of the global DCPD market in the next five years, driven by increasing usage in adhesives, coatings, printing inks, and rubber goods.
Building & Construction segment is expected to remain the largest end user of DCPD during the forecast period. Increasing residential activities in the Asia-pacific and the Middle East regions and rebounding housing starts in the USA are some of the major drivers of the market. Automotive segment is expected to experience fast growth for the same period, driven by the lightweight requirement caused by stringent government regulations to increase fuel efficiency and reduce the carbon emissions. Automakers are incorporating lightweight materials including polyester resins based parts to achieve the set targets.
Asia-Pacific region is expected to remain the largest DCPD market during the forecast period. The region is also likely to exhibit fast growth rate over the next five years, driven by increasing use of DCPD in end user industries; mainly automotive, building & construction, and electrical & electronics. Rise in demand of lightweight in the automotive industry, increase in polyester resin usage in the electrical and electronic components such as meter box and distribution box, and higher use of polyester resin in key building & construction applications such as bathtub and swimming pool are driving the Asia-Pacific region. The penetration rate of DCPD in Japan is already high due to increasing use of polyester resins in major markets whereas the penetration rate in China and India are still low and growing with a good pace. Both countries will continue to propel the demand of DCPD in coming years.
Key Players:
The supply chain of this market comprises of derivatives suppliers, DCPD manufacturers, polyester resin manufacturers, composites part manufacturers, OEMs, and end-users. The key DCPD manufacturers are Braskem SA, Chevron Phillips Chemical Company, Fushun Yikesi New Material Co. Ltd, Lyondell Basell, Maruzen Petrochemical, Shanghai Petrochemical, Shell Chemicals, The Dow Chemical Company, and Zibo Luhua Hongjin New Material Co. Ltd.
New production development, application development, regional expansion, and strategic alliances are the key strategies adopted by the key players to gain competitive edge in the market.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Dicyclopentadiene Market analysis report discusses the following heads in great detail:
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