According to a new research report by Global Market Insights, Inc. “Dicyclopentadiene Market share is predicted to be valued USD 800 million by 2024.” Growth in the automotive sector, especially in the developing countries of the Asia Pacific region will drive the dicyclopentadiene market in the forecast period. The product is popularly known for its efficient properties such as toughness, lighter weight, and corrosion resistance. Major countries in the region have regulations and emission standards such as the energy policy of China; Bharat stage emission standards, and Air Pollution Dispute Resolution Act of Japan to control the air pollution level. Increasing vehicle regulations for economic fuel consumption and decreased gas emissions will foster the dicyclopentadiene market demand in the long run.
Higher purity DCPD grades have enormous price range, greater than that of its substitute products. This will hamper the dicyclopentadiene market growth in the forecast period. Moreover, easy availability of substitute products such as phthalic anhydride instead of DCPD will be a restrictive factor for dicyclopentadiene market in the coming years.
Dicyclopentadiene market is segmented on the basis of grade as hydrocarbon, polyester, high purity resins, and others. The others segment includes low purity resins, polymers, etc. Based on volume, hydrocarbon resins segment will hold close to a quarter of the market by 2024. The segment is said to gradually lose its market share owing to strong growth of the other two segments. Based on revenue, polyester grade segment is said to surpass 50% market share by the end of 2024 with the highest CAGR of over 4.5% from 2017 to 2024.
Considering application, unsaturated polyester resin, poly-DCPD, COC & COP, hydrocarbon resin, EPDM elastomers, and others are the major segments for dicyclopentadiene market. The others segment comprises of flame retardants, pesticides, epoxy resins, lattices, specialty resins, phenolic resins, etc. Unsaturated polyester resins will capture over half of the global market share by the end of 2024. In terms of volume, hydrocarbon resins will surpass 25% market share by the end of the forecast period.
Geographically, Asia Pacific will hold a maximum share of over USD 400 million in the global DCPD market. Developing countries in the region such as China, India, Malaysia, and Indonesia have a huge automotive demand owing to the rising income level of consumers. Increase in the purchasing power parity will lead to more sales of vehicles. Moreover, due to cost-effective labor and low cost raw materials, huge companies are shifting their manufacturing base to Asia Pacific region. Increasing automotive sales and manufacturing in the Asia Pacific region will drive the industry in the long run. The segment is said to grow at a highest CAGR of over 5% from 2017 to 2024.
Prominent companies in the dicyclopentadiene market are Shell Chemicals, TCI Chemicals, LyondellBasell Industries Holdings B.V, Cymetech Corporation, Dow Chemical Company, Braskem, China Petrochemical Corporation, Texmark Chemicals, Maruzen Petrochemical, Chevron Phillips Chemical Company, NOVA Chemicals, Sunny Industrial System GmbH, Nanjing Yuangang Fine Chemical Co, and Zibo Luhua Hongjin New Material to name a few.