Theglobal dicyclopentadiene(DCPD) market is highly fragmented due to the presence ofvarious large and small players operating in the market, observes TransparencyMarket Research. Competition among these players is also expected to risein the coming years. Leading players in the market are adopting new strategiessuch as collaboration, mergers, partnership, and other to get a firm hold inthe market. For instance, Dow Chemical Company merged with E.I. du Pont deNemours & Company (DuPont) and started DowDuPont. This merger will resultin strengthening their position and will fuel growth in the globaldicyclopentadiene market. Few other players in the globaldicyclopentadiene market are Chevron Philips Chemical Company, Shell Chemicals,Maruzen Petrochemical, Zibo Lujua Hongjin New Material Co. Ltd. andLyondellBasell.
The globaldicyclopentadiene market is anticipated to reach US$0.902 bn by the end of 2025progressing from US$ 0.56 bn earned in 2016. To reach this valuation, themarket is projected to rise at 5.5% CAGR over the projected tenure.
Applicationof dicyclopentadiene is likely to rise in EPDM elastometers and hydrocarbonresins segments. EPDM elastometers provides incomparable resistance to heat,steam, ozone, and water, which has increased use of dicyclopentadiene in thissegment. Moreover, the demand for unsaturated polyester resins also increaseddue to its outstanding mechanical and functional properties such as heatresistance, corrosion, and low weight. These factors increased use ofdicyclopentadiene in these two segments and drive the overall demand in theglobal dicyclopentadiene market.
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Geographically,North America is projected to lead the market on the account of growing marine,plastics, and polymer industries. However, strict regulations on exposure toDCPD might deter growth of dicyclopentadiene in Europe. On the other hand, AsiaPacific is projected to fuel demand in the global dicyclopentadiene market dueto increasing development in infrastructure and construction industries.
GrowingDicyclopentadiene Application in Resins Manufacturing to Fuel Markets Growth
Developments taking place in the plastic and resins industriesare likely to expand the global dicyclopentadiene market in the forthcomingyears. Significant rise in the plastic industry in Asia Pacific has boosteddemand for dicyclopentadiene thus, contributing a promising rise to the globaldicyclopentadiene market. Dicyclopentadiene is used for manufacturing differenttypes of resins such as epoxy resins, aromatic hydrocarbon resins, phenolicresins, acrylates, lattices, unsaturated polyester resins, specialty resins,and other specialty intermediates, which has further augmented demand in theglobal dicyclopentadiene market.
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Adding further to the growth prospects in the globaldicyclopentadiene market is the growing use of poly-DCTD. The demand forpoly-DCTD is rising due to its lightweight properties that do not hamperperformance of vehicle. Growing preference for lightweight automotive invehicles, as they increases fuel efficiency in vehicles. These factors haveaccelerated demand for dicyclopentadiene in automotive industry.
Shifting Trends towards Renewable Sources Might Challenge Growthin Dicyclopentadiene Market
Environmental concerns related with the use of exploration &production activities along with wastewater treatment in oil recovery are themajor reasons deterring the growth in the global dicyclopentadiene market. Highcost of production and manufacturing of dicyclopentadiene might obstruct thegrowth in this market. Additionally, shifting trends towards renewable sourcesis another factor that might challenge the market’s performance. Rising use ofphthalic anhydride as a DCPD substitute in building boats is another restraintneeds to be tailored.
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