Dicyclopentadiene (DCPD) Market to Expand with Significant CAGR During 2025
The
global dicyclopentadiene (DCPD) market features a largely fragmented
competitive landscape, with the leading five vendors in the market
cumulatively accounting for a 41% of the overall market in 2016. The
intense competition has compelled companies to focus on new regional
markets and expansion of existing production sites. Strategic
acquisition of regional and local manufacturers, and addition of
sales and distribution channels are other key growth strategies opted
by manufacturers wishing to strengthen their hold on the market.
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For
instance, in 2016, Braskem, one of the key manufacturers of LDPE
started operations in Veracruz State, South of the Gulf of Mexico
with the joint venture Braskem Idesa. The company expects the
production of 300 kilo tons of LDPE every year, adding to its present
global capacity.
Transparency
Market Research estimates that the global dicyclopentadiene market,
valuing at US$561.8 mn in 2016, will exhibit a 5.5% CAGR from 2017 to
2025 and rise to a valuation of US$902.3 mn by 2025.
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Asia
Pacific Market to Continue to Expand at Healthy Pace
Unsaturated
polyester resin application dominated the global dicyclopentadiene
market, accounting for a more than 40% volume share in 2016. This
application is projected to grow at a CAGR of 5.3% from 2017 to 2025,
retaining dominance. In terms of geography, the DCPD market in Asia
Pacific held the dominant share of over 50% in the global market in
terms of value in 2016. The regional market is expected to remain a
highly attractive segment during the next few years as well. The
region is estimated to offer lucrative opportunities for the DCPD
market in the near future chiefly owing to the vast expansion of the
lightweight vehicles market.
DCPD
offers high strength, fatigue resistance, and stiffness and are
therefore used to manufacture wind turbine blades, nacelles, blade
shells, and rotor blades. Consumption of DCPD in wind blade
manufacturing has significantly increased due to technological
advancements in the past few years.
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High
Demand across Automotive Industry to Remain Key Growth Driver
Rise
in demand for low-cost and energy-efficient vehicles that do not
compromise upon performance is currently a huge challenge faced by
OEMs. As decrease in vehicle weight helps meet the demand for
fuel-efficient and low-cost vehicles, composites produced with the
usage of poly-DCPD, which help bring down the weight of vehicles
substantially without compromising upon the performance of the
vehicle, are often preferred. Thus, the rise in demand for
composite-based wind blades and towers and fuel efficient lightweight
vehicles are likely to remain the key drivers of the global DCPD
market during the forecast period.
High
Costs to Slightly Affect Market Growth Prospects
One
of the key restraints hindering the overall growth prospects of the
global DCPD market is the high cost of processing involved in
producing high purity DCPD. DCPD recovered from the process of
naphtha cracking contains different amounts of co-dimers. These
co-dimers carry the risk of reacting with other raw materials during
the production of unsaturated polyester resins. The presence of these
impurities necessitates advanced processing so as to avoid unwanted
secondary reactions in DCPD processing, leading to increased process
cost. This factor is expected to hamper the DCPD market in the near
future.
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