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The dicyclopentadiene market is expected to register a CAGR of more than 5% globally during the forecast period. Dicyclopentadiene (DCPD) is the dimer of cyclopentadiene that is produced through the Diels-Alder Reaction. It is a colorless, flammable substance with a camphor-like odor. The growing consumption of batteries and increasing use of dicyclopentadiene as industrial catalysts and solvents have been driving the market growth.
- However, the high cost associated with the production of the dicyclopentadiene, increasing risk from substitutes, and the outbreak of the coronavirus across the world are likely to hinder the growth of the studied market.
- The R&D activities to develop environment-friendly products, like bio-based ethylene propylene diene monomer (EPDM), owing to increasing concerns about the harmful effects of certain products on the environment are likely to provide opportunities for the dicyclopentadiene market over the next five years.
- The Asia-Pacific region dominated the market across the world with consumption from countries, like China, Japan, and India.
Key Market Trends
Unsaturated Polyester Resin (UPR) is Expected to Dominate the Market
- Unsaturated polyester resin stands to be the dominating segment owing to increasing applications in the electrical, bathroom components, and marine industries.
- Simple processing, fine mechanical property, chemical-erosion resistance, and electricity performance are the key characteristics of UPR, which make it suitable for wide applications in agriculture, transportation, and other industrial applications, which in turn, augments the demand for UPR in the market.
- Unsaturated polyester resin is used as a key ingredient in manufacturing paints and coatings, adhesives, rubber, pesticides and insecticides, varnishes, modified wax, and other non-woven products, due to its superior mechanical and functional characteristics.
- Unsaturated polyester resin is extensively used in the construction industry. The construction industry is witnessing growth in Asia, the Middle-East, and North America due to an increase in investments in the residential and non-residential sectors for the construction of new infrastructure and eco-friendly buildings.
- Among grades, the UPR grade has an edge over resin grade, owing to superior color properties and the smaller number of trimmers and co-dimers associated. Other than this, the high purity grade is also expected to witness good growth due to rising consumption in the production of flavorants, fragrances, cyclic olefin co-polymers, and antioxidants.
- All the aforementioned factors are expected to drive the dicyclopentadiene market during the forecast period.
Asia-Pacific Region is Expected to Dominate the Market
- The Asia-Pacific region stands to be the largest market for the dicyclopentadiene on account of the growing marine, plastics, and polymer industries. Moreover, the growing plastics and resins industry in the region is also expected to contribute to the demand for the market studied during the forecast period.
- Dicyclopentadiene is used for manufacturing different types of resins, such as epoxy resins, aromatic hydrocarbon resins, phenolic resins, acrylates, lattices, unsaturated polyester resins, specialty resins, and other specialty intermediates. The Asian region, especially countries like China, Japan, and India, have established chemical industries.
- Hydrocarbon resin is used in the manufacture of printing inks, coatings, adhesives, rubber goods, and caulking compounds. China is the largest producer of paints and coatings, adhesives, and rubber goods in the region. Japan and South Korea also contribute significantly to the adhesives and rubber production in the region.
- There is a growing preference for lightweight automotive in vehicles, as they increase fuel efficiency in vehicles. Thus, it is expected to increase the demand for plastics and polymers from the automotive manufacturing industry, which may further accelerate the market growth of dicyclopentadiene.
- However, the automotive industry is witnessing a decline in growth in 2020, which negatively impacts the demand for dicyclopentadiene, but from 2021, the automotive industry is expected to recover its growth in the market.
- Hence, all such market trends are expected to drive the demand for dicyclopentadiene in the region during the forecast period.
The global dicyclopentadiene market is fragmented in nature with a few major players and the presence of local players in the market. Some of the major companies are Braskem, Chevron Phillips Chemical Company, Cymetech (Sojitz Corporation), JXTG Nippon Oil & Energy Corporation, and Zeon Corporation, among others.
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