Global Dicyclopentadiene (DCPD) Market: Snapshot
Dicyclopentadiene (DCPD), a dimer of cyclopentadiene, is a white crystalline chemical compound with camphor-like odor. It is produced in bulk quantities through steam cracking of C5 petroleum products such as gas oils, naphtha, and crude oil. Governments in regions such as Europe and North America have passed strict regulations on styrene emissions. Therefore, manufacturers are focusing on developing technologies that help reduce styrene emissions. These developments entail usage of DCPD as a raw material to decrease the styrene content in unsaturated polyester resins from 42% to 35%.According to the report, the global dicyclopentadiene market was valued at US$561.8 mn in 2016 and is anticipated to reach US$902.3 mn by 2025, expanding at a CAGR of 5.5% from 2017 to 2025.
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Unsaturated Polyester Resins to Continue to Benefit from Increased Usage in Lightweight Vehicles
In terms of application, the segments of hydrocarbon resins, unsaturated polyester resins, and EPDM elastomers are anticipated to witness expansion at healthy rates during the next few years. Demand for unsaturated polyester resins is high due to its excellent functional and mechanical properties such as low weight and corrosion and heat resistance. Thus, these resins are used in a wide range of end-user industries such as building and construction, marine, automotive, and plastics. EPDM elastomers offer incomparable resistance to steam, heat, water, and ozone. They possess long duration withstanding properties and are therefore considered as effective choice for applications such as architectural and window seals, and tubing.
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Demand for EPDM elastomers is expected to be high in developing as well as developed regions for a varied range of applications across numerous end-use industries. Poly-DCPD offers good impact resistance at lower temperatures and is preferred over other polymers since other polymers becomes brittle at low temperatures. Therefore, it is used to manufacture body panels for trucks, buses, tractors and construction equipment. Manufacturing of cyclic olefin polymers (COP) and cyclic olefin copolymers (COC) necessitates highly pure grade of DCPD for use in in applications such as optical disks, high-density electronic storage media, high-quality lenses, and high-performance films. The segments of COC and COP and poly-DCPD are estimated to expand at a moderate rate across all regions in the near future.
Strong Growth in China to Help Asia Pacific Market Retain Top Spot
In terms of value, the market for DCPD in Asia Pacific emerged as the leading regional market in terms of revenue contribution to the global market, accounting for over 50% of the global market in 2016. Asia Pacific is estimated to offer lucrative opportunities for the DCPD market in the near future, exhibiting a promising 6.1% CAGR from 2017 to 2025. The overall growth of the regional market will be driven due to the vast rise in sales of lightweight vehicles in the region. In terms of supply, China commands immense control over the global DCPD market, followed by the U.S. ASEAN is also expected to become a lucrative sub-region for the manufacture of DCPD in the near future.