LONDON--(BUSINESS WIRE)--The global dicyclopentadiene (DPCD) market is expected to grow at a CAGR of more than 5% during the period 2018-2022, according to a new market research study by Technavio.
The report categorizes the global dicyclopentadiene market based on application which includes UPR, Hydrocarbon resins, EPDM elastomers, and Poly-DCPD. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: growing demand from Asian countries
In terms of revenue, APAC contributes to almost half of the DCPD market share. The developing economies in this region are fostering the growth in the DCPD market. For instance, DCPD is used in manufacturing poly-DCPD. APAC is the largest consumer of poly-DCPD. Poly-DCPD is used in manufacturing body panels for trucks, buses, tractors, and big containers. Countries like China and India are growing rapidly, and there is a huge demand for tractors in the agricultural sector. The emphasis is also on developing public transportation, which is fostering the demand for buses. This will subsequently foster the demand for DCPD.
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Market trend: increasing demand for bio-based EPDM
Owing to the increasing concern toward the harmful effect of certain products on the environment and regulations imposed by government bodies, manufacturers are investing in R&D activities to develop environment-friendly products.
Ethylene can be used as one of the key raw materials in the production of EPDM. Considering the weight of ethylene used in the final EPDM composition, EPDM can be 50%-70% bio-based. This is because ethylene is produced from ethanol, and ethanol is obtained from sugar cane. Sugar cane is a natural and renewable source. LANXESS offers bio-based EPDM in Brazil.
According to a senior analyst at Technavio for specialty chemicals research, “Bio-based EPDM is eco-friendly as it lowers greenhouse gas emission and leaves a smaller carbon footprint. The current market for bio-based EPDM is quite small, however, it is expected to grow at a steady pace in the coming years. With the development of new grades and new applications, the demand for EPDM or bio-based EPDM will grow, and it will also foster the demand for DCPD.”
Market challenge: toxic effects and health hazards of DCPD
DCPD which is the tricyclic form of CPD, it is one of the most toxic of the cycloolefin compounds. DCPD can cause irritation to eyes, skin, and respiratory system in humans. It has low toxicity on skin contact but is extremely harmful if inhaled. If DCPD is swallowed, it can cause severe lung inflammation and lung edema. The risks and health hazards associated with DCPD are the major challenges of the global DCPD market.
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Some of the contributors in the market
- DowDuPont
- Ningbo Jinhai Chenguang Chemical Corporation
- NOVA Chemicals Corporation
- Shandong Qilong Chemical
- Sojitz Corporation
- TEXMARK CHEMICALS
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