Wilmington, Delaware, United States, Transparency Market Research Inc. -, Sept. 30, 2024 (GLOBE NEWSWIRE) -- The global dicyclopentadiene (DCPD) market (디사이클로펜타디엔(DCPD) 시장) was projected to attain US$ 810.7 million in 2023. It is anticipated to garner a 5.6% CAGR from 2024 to 2034, and by 2034, the market is likely to attain US$ 1.5 billion.
The output of main plastic resins in the United States reached 8.5 billion pounds in December 2023, up 24.6% from December 2022 and 5% from November 2023, according to the American Chemistry Council (ACC). This year's production has totaled 96.7 billion pounds, a 5% rise over the same period in 2022.
In the building and construction industry, specialty resins are utilized as coatings, adhesives and sealants, and composite materials. Unsaturated polyester resins (UPRs) treated with dicyclopentadiene (DCPD) are mostly used for toilet facilities, decks, and hulls because they have quick drying in thin layers, cheaper cost, and less styrene emission.
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Key Findings of Market Report
- Among thermoplastic elastomers, ethylene propylene (EPDM) is the most often used.
- Given its inexpensive cost, low specific gravity or density, simplicity of processing, paintability, and weatherability, it is used in the automobile industry.
- EPDM shows good compatibility with ketones and fireproof hydraulic fluids.
- Currently, dienes such as vinyl norbornene (VNB), ethylidene norbornene (ENB), and DCPD are utilized to make EPDM rubbers.
- Swim fins, handle grips, wire and cable jacketing, and weatherstripping are all made using EPDMs.
- The dicyclopentadiene (DCPD) market revenue is being enhanced by the rise in demand for EPDM elastomers.
- A relatively new polymer called polydicyclopentadiene (PDCPD) is created when DCPD undergoes ring-opening metathesis polymerization, or ROP.
- In general, people prefer it over ordinary since it offers more resilience at lower temperatures.
Market Trends For Dicyclopentadiene (DCPD)
- Glass fiber-reinforced plastics are primarily used for unsaturated polyester resins (FRP). Their exceptional tensile strength, bending strength, impact strength, heat resistance, corrosion resistance, and electric characteristics make them popular for use in construction, transportation, and housing equipment.
- In the dicyclopentadiene (DCPD) business, EPDM elastomers are highly sought after because to their unparalleled resistance to heat, steam, water, and ozone. Due to their long-lasting withstanding qualities, EPDM elastomers are a good option for tubing and window and architectural sealing, among other uses.
Global Market for Dicyclopentadiene (DCPD): Regional Outlook
Various reasons propel the dicyclopentadiene (DCPD) market growth throughout the different regions. These are:
- In 2023, Asia Pacific accounted for the dominant market share. Japan is the country that uses DCPD the most. The dicyclopentadiene (DCPD) market is also expanding significantly in China, India, South Korea, and Indonesia.
- The demand for dicyclopentadiene (DCPD) in the Asia Pacific market is driven by the plastics industry's expansion and the rise in the use of polyester resin in electrical and electronic components.
- According to the India Brand Equity Foundation (IBEF), there is a considerable geographical difference in the country's plastic consumption: 47% is consumed in Western India, 23% in Northern India, and 21% in Southern India.
- The demand for plastics is being driven by the expansion of the end-use industries of automotive, packaging (including bulk packaging), plastics applications, and electronic appliances. This is leading to an increase in the market share of dicyclopentadiene (DCPD) in Asia Pacific.
Global Dicyclopentadiene (DCPD) Market: Key Players
Compared with other general-purpose polyesters, resins based on DCPD contain less styrene. As governments throughout North America and Europe impose stricter rules on the emission of styrene, vendors in the global dicyclopentadiene (DCPD) market are adopting innovative manufacturing technologies.
The following companies are well-known participants in the global dicyclopentadiene (DCPD) market:
- Braskem
- Chevron Phillips Chemical Company LLC
- Cymetech Corporation
- ExxonMobil Corporation
- MESNAC
- Kolon Industries, Inc.
- LyondellBasell
- Maruzen Petrochemical Co., Ltd.
- Shell Chemicals
- Texmark Chemicals, Inc.
- Zibo Luhua Hongjin New Material Co., Ltd.
Few of key developments by the players in this market are:
- In October 2023, Braskem announced the establishment of a Representative Office in Tokyo, Japan, one of the primary markets for I'm greenT bio-based Polyethylene (PE). The company's ongoing development of biopolymer solutions based on renewable feedstock is reflected in this growth.
- OQ Chemicals stated in September 2023 that Oxbalance TCD Alcohol DM (tricyclodecane dimethanol) with ISCC PLUS certification is now available for purchase. The bio-circular precursor DCPD from Shell Chemicals Europe, a major participant in the dicyclopentadiene resin market, is used in the production of this product.
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Global Dicyclopentadiene (DCPD) Market Segmentation
- Application
- Unsaturated Polyester Resin
- Hydrocarbon Resin
- EPDM Elastomer
- COP & COC
- Poly-DCPD
- Others
- Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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