Dublin, Aug. 23, 2024 (GLOBE NEWSWIRE) -- The "Dicyclopentadiene Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The global dicyclopentadiene market is anticipated to grow at a CAGR of 4.79% during the forecast period 2024-2029
Dicyclopentadiene products are used in many applications such as high-quality optical lenses, flame retardant for plastic products, and hot melt glue. It is employed as a chemical intermediary in insecticides, linseed and soybean oil hardeners and dryers, EPDM elastomers, metallocenes, resins, varnishes, and paints. DCPD-containing goods are used to produce hydrocarbon and unsaturated polyester resins.
DCPD should be kept in mild or stainless-steel tanks and stored under regulated circumstances to maintain stability and prevent quality degradation. It's carried via road, rail, barge, and ship. Since DCPD is very explosive and can build up static electricity during transfer, it's important to take precautions to avoid static discharge.
GLOBAL DICYCLOPENTADIENE MARKET DRIVERS:
Dicyclopentadiene (DCPD) is a liquid hydrocarbon formed during the refining and steam cracking of naphtha and petrol oils. It is manufactured using technologies developed by experts from ORLEN Unipetrol and the University of Chemistry and Technologies in Prague. The technique was created to establish a way to separate hydrocarbons that are secondary products of petrochemical plants and may have market uses.
Recent developments include the new high-performance thermoset resins that have improved their mechanical and thermal characteristics and utilize DCPD in the automotive, electronics, and construction industries. These innovations are targeted to balance the rising industrial pressures in terms of productivity, product durability, sustainability, and environmental responsiveness to increase demand and better market positions.
For instance, Zeon Corporation is a global market leader in specialized elastomers, polymers, and specialty chemicals. Zeon is one of the world's leading polymer makers, with a global network of factories in Asia, North America, and Europe, as well as research and development centers in Japan, the US, and the UK. Zeon Corporation, with consolidated sales of more than $2.9 billion, offers a diverse variety of products based on its expertise and market position in C4 and C5 chemistry. Such advancements not only extend the market for dicyclopentadiene but also help to achieve sustainability goals through lightweight and increased recyclability, supporting continuous growth and acceptance in a variety of high-performance applications throughout the world.
Dicyclopentadiene (DCPD) is used to produce encapsulation materials for ICs/semiconductor devices and can have high thermal shock to avoid the effect of heat and humidity-sensitive components. The rise of the electrical and electronics sector has a significant influence on the dicyclopentadiene market.
Besides this, electronics product import in the United States, as per the United States International Trade Commission, was US$5,71,453 million in 2021, and it reached a whooping value of US$6,29,871 million in 2022, thus inspiring market growth. As the electronics industry evolves with technological and connectivity improvements, the need for dicyclopentadiene will likely increase. This is driven by their potential to improve product reliability and efficiency in electronic applications worldwide.
GLOBAL DICYCLOPENTADIENE MARKET SEGMENT ANALYSIS:
Hydrocarbon resins are anticipated to gain popularity during the forecast period.
Hydrocarbon resins are thermoplastic polymers with low molecular weight (usually less than 2000) that might seem viscous, liquid, or amorphous. They have high glass transition temperatures, melting at processing temperatures, allowing for improved compound viscosity mold flow. These resins, however, harden at normal temperature, therefore preserving compound hardness and modulus.
Hydrocarbon resins will likely gain momentum in the dicyclopentadiene market throughout the forecast period due to their versatility and application in various sectors, including adhesives, coatings, and plastics. Foreverest Hydrocarbon Resin Family combines the benefits of rosin-based resins with hydrocarbon resins, providing a comprehensive solution for industrial markets. In the HMA business, Hydrogenated C5/C9 plasticizes the polymer at higher temperatures than C5/C9. They must typically be performed without significantly reducing the polymer's cohesive strength at ambient temperatures. Furthermore, as per the Foreverest Hydrocarbon, hydrocarbon resins make up approximately 33% of global DCPD manufacturing.
Hydrocarbon resins further possess higher properties in adhesion, heat stability, and chemical resistance and are thus preferred to other types of resins. This could be attributed to the fact that dicyclopentadiene is a popular material, particularly used in the construction and automotive industries, and more so in the packing industries, where these materials are used due to their long-lasting and efficient performances.
Based on end-user industry, the automotive sector is one of the fastest-growing segments.
Many automotive applications, such as composites, structural adhesives, and coatings, are incorporating DCPD at a higher rate. This is attributable to their excellent mechanical properties, such as high impact strength, heat resistance, and corrosion protection. In addition, the increase in the automobile industry is also envisaged to influence the consumption of the product in the market. As per the PIB, two-wheeler motorcycles and passenger automobiles took the major market shares for FY 2021-22. The market share was 77% for two-wheeler motors and 18% for passenger automobiles.
Furthermore, much like the Automotive Mission Plan 2026, the scrappage policy in the domestic market and the new production-linked incentive scheme are government-driven. From the information collected from the India Brand Equity Foundation (IBEF), the organization assumed the production of both passenger and commercial cars and vehicles to be 23.90 million in the financial year 2023 to achieve its goals and objectives. Comprehensively, as automakers continue to prioritize lightweight materials and environmental solutions, demand for DCPD-based goods is projected to skyrocket in the coming years.
Asia Pacific's Dicyclopentadiene market is anticipated to grow significantly.
The Asia Pacific dicyclopentadiene market is predicted to grow significantly, driven by increased automobile production, infrastructure development, and electronics manufacturing in countries such as China and India. DCPD's applications in lightweight composites, adhesives, and coatings are especially important in these industries since they meet the region's requirement for durable and high-performance materials.
For instance, the Indian government plans to boost the size of the automotive sector to Rs. 15 lakh crores by the end of 2024. Thus, from April 2000 to September 2022, the industry received USD 33 billion. It ranked third globally with FDI amounting to USD 77 billion, which equates to 5% of India's two trillion dollars in gross domestic product, as stated by PIB.
Another significant factor upsurging the dicyclopentadiene market is the growth in the electronics industry. In 2023, India's electronics sector was estimated at US$155 billion, with local manufacturers accounting for 65%, as stated by Invest India. Moreover, according to the data of the Shanghai Municipal People's Government, the retail sales of China's consumer electronics were at US$305 billion in 2023, with a 4% growth rate. In 2024, the rate rose to 5%.
Besides this, China is the global leader in automotive sales and the production of automobiles. Domestic automobile production, for instance, is expected to surpass 35 million automobiles in 2025 in China. Additionally, according to the Ministry of Industry and Information Technology, automobile sales hit a record high of more than 26 million automobiles sold in 2021, including 21.48 million passenger vehicles, a 7.1% increase over 2020. Commercial vehicle sales totaled 4.79 million units, down 6.6% from 2020 in the nation. With the progression of various industries in the Asia Pacific, together with the utilization of new materials in its production, the market for dicyclopentadiene is bound to expand in the future.
Companies Featured
- Braskem
- Chevron Philips Chemical
- Merck Millipore
- Cymetech Corporation
- Dow
- Shandong Xinhua Pharmaceutical I&E Co., Ltd.
- Kanto Chemical Co., Inc.
- Glentham Life Sciences
- Zeon Corporation
- Orlen Group
Scope of the Report
By Application
- Unsaturated Polyester Resin
- Hydrocarbon Resins
- Ethylene Propylene Diene Monomer
- Cyclic Olefin
- Polu-DCPD
- Others
By End-User Industry
- Building and Construction
- Automotive
- Electrical and Electronics
- Others
By Geography
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Rest of South America
- Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Rest of the Middle East and Africa
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Taiwan
- Thailand
- Indonesia
- Rest of Asia-Pacific
For more information about this report visit https://www.researchandmarkets.com/r/l10b46
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