Dicyclopentadiene Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The dicyclopentadiene market is valued at USD 1191 million in 2020 and is expected to register a CAGR of more than 5% globally during the forecast period. The market was negatively impacted by COVID-19 in 2020.

New York, Nov. 18, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Dicyclopentadiene Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06184973/?utm_source=GNW
In the automotive sector, dicyclopentadiene-based chemicals and resins are used for various applications, including manufacturing flame-resistance automotive parts, vehicle body panels, bumpers, spoilers or fenders, and others. In 2020, COVID-19 worse impacted the automobile sector as lockdowns were implemented across all countries, which resulted in an automotive production halt. For instance, according to the Organization Internationale des Constructeurs d’Automobiles (OICA), in 2020, the global automotive production (all vehicles) witnessed a decline of about ~15.8% Y-o-Y over the same period in 2019, reaching a total of 77.62 million vehicles, thereby declining the consumption of DCPD-based chemicals and resin in manufacturing various automotive parts, which, in turn, decreased the demand in the market studied.

Key Highlights
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.
China accounts for more than one-fourth of the global coatings market presently. According to the China National Coatings Industry Association, the industry has been registering a growth of 7% through recent years. It was estimated that from 2019, the construction of at least ten large coatings investment projects in China had been reported publicly. Nippon has been tapping into this market situation by upgrading its coatings production process in its new plants in China.
In May 2021, PPG announced the completion of its USD 13 million investment in its Jiading, China paint and coatings facility, including eight new powder coating production lines and an expanded powder coatings technology center that is expected to enhance PPG’s research and development capabilities. The expansion is likely to increase the plant’s capacity by more than 8,000 metric ton per year.
In India, over 65% of the rubber produced is used for manufacturing automotive (50%) and bicycle tires and tubes (15%), 12% for footwear, 6% for belts and hoses, and 17% for other products.
The country is the sixth-largest producer of natural rubber across the globe and has a production capacity of approximately 900,000 ton. The rubber import has been continuously increasing in the country with the rising demand, and the consumption is projected to reach 1.2 million ton by the end of 2025
Hence, all such market trends are expected to drive the demand for dicyclopentadiene in the region during the forecast period.

Competitive Landscape

The global dicyclopentadiene (DCPD) market is partially fragmented, with no top player capturing a significant share in the market studied globally. Some of the major companies are Braskem, Chevron Phillips Chemical Company, ENEOS Holdings Inc., Dow, and Zeon Corporation, among others.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06184973/?utm_source=GNW

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