Albany, NY, April 25, 2016 (GLOBE NEWSWIRE) -- According to the research report, the global DCPD market was valued at US$578 mn in 2014 and is anticipated to reach US$838 mn by 2023, expanding at a CAGR of 4.9% from 2015 to 2023.
DCPD is a white crystalline chemical compound with camphor-like odor. It is manufactured in bulk by steam cracking of petroleum fractions such as naphtha, crude oil, and gas oil. Rising demand for DCPD in the plastics industry in Asia Pacific is anticipated to boost the global DCPD market. In terms of demand, North America was estimated to be the second-largest market for DCPD in 2014, owing to various end-user industries in the region reporting increasing demand. Furthermore, high demand for DCPD in the automotive industry is projected to bolster market growth in developed and developing regions. However, rise in health concerns related to DCPD is likely to hamper market growth.
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North America accounted for the second-largest share of the global DCPD market in 2014. High demand for unsaturated polyester resins in the manufacture of lightweight automotive parts is estimated to propel the market for DCPD. An increase in building and construction activities in the region has led to high demand for cement, which is manufactured using unsaturated polyester resins. Thus, rising demand for unsaturated polyester resins is driving the DCPD market in North America. However, the market share of the region is projected to decrease over the next few years owing to a rise in the usage of eco-friendly alternatives such as sand and ash.
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In terms of volume, Europe held more than 15% share of the global DCPD market in 2014. According to the American Conference of Governmental Industrial Hygienists (ACGIH), the National Institute for Occupational Safety and Health (NIOSH), and the National Fire Protection Association (NFPA), dicyclopentadiene is cited as a hazardous substance that can lead to health issues. Therefore, this factor is expected to hamper the growth of the global DCPD market in the region.
Asia Pacific was the largest market for DCPD with more than a 40% share in 2014. It is likely to be the fastest-growing region between 2015 and 2023 owing to rising demand for DCPD in various end-use industries. Growth in building and construction activities, especially in India and China, is anticipated to boost the demand for unsaturated polyester resins and EPDM elastomers in Asia Pacific in the near future. Additionally, demand for DCPD is high in automotive applications in Japan owing to innovative technologies being introduced in the country. This is likely to propel the DCPD market in Japan in the near future.
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In terms of volume, the DCPD market in Latin America is expected to expand at a CAGR of over 3% between 2015 and 2023. High demand for DCPD in the marine industry is anticipated to fuel market growth in the region. Furthermore, increase in construction activities in Brazil and Rest of Latin America is estimated to augment the DCPD market in the region.
DCPD is used in the manufacture of cement and various other plastic products. It is employed in the manufacture of polyester cement, which renders desirable functional properties such as quick drying and toughness. Thus, the demand for DCPD was high in GCC countries in 2014. In South Africa, the demand for DCPD was moderate in 2014, and was sustained by its increasing usage in paints and coatings applications.
Key players in the DCPD market include Braskem, Chevron Phillips Chemical Company, Kolon Industries, Inc., Cymetech Corporation, Exxon Mobil Corporation, Zibo Luhua Hongjin New Material Co., Ltd, LyondellBasell, Shell Chemicals, and Texmark.
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The report segments the global dicyclopentadiene (DCPD) market into:
Dicyclopentadiene (DCPD) Market – Application Analysis
- Unsaturated Polyester Resins
- Hydrocarbon Resins
- EPDM Elastomers
- COC & COP
- Others (Including Pesticides, Flavor & Fragrance Intermediates, etc.)
Dicyclopentadiene (DCPD) Market – Regional Analysis
- The U.S.
- Rest of North America
- Rest of Europe
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Other Related Research Reports:
- Unsaturated Polyester Resin Market: http://www.transparencymarketresearch.com/unsaturated-polyester-resin.html
- Phthalic Anhydride Market: http://www.transparencymarketresearch.com/phthalic-anhydride.html
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