LONDON--(BUSINESS WIRE)--The global dicyclopentadiene (DPCD) market is expected to grow by USD 203.48 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
There has been a steady growth in the construction and automotive sectors owing to several factors such as large investments in infrastructural development, high demand for residential and non-residential units and rapid urbanization. High demand from emerging countries such as China and India has led to the growth of the automotive market. DCPD is used to produce unsaturated polyester resin, which is extensively used in the construction industry. Similarly, in the automotive sector, manufacturers are using hydrocarbon resins, EPDM, poly-DCPD, and DCPD-based unsaturated polyester resins. Thus, factors such as increase in investments in residential and non-residential construction and rapidly growing automotive sector will boost the growth of the dicyclopentadiene market during the forecast period.
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As per Technavio, the increasing demand for bio-based EPDM will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Dicyclopentadiene Market: Increasing Demand for Bio-Based EPDM
Growing environmental concerns with respect to the harmful effects of emissions are encouraging manufacturers to invest heavily in R&D activities to develop environment-friendly products. Government bodies are also imposing stringent regulations to control the harmful emissions of toxic elements in the air and water bodies. Consequently, manufacturers are adopting eco-friendly raw materials such as Ethylene Propylene Diene Monomer (EPDM) as it leaves a smaller carbon footprint and lowers greenhouse gas emissions. This in turn, is propelling the demand for DCPD as it is one of the dienes used in the manufacture of EPDM. As a result, the market for bio-based EPDM is expected to grow steadily in the coming years.
“Increase in demand for hydrocarbon resins will have a positive impact on the growth of the dicyclopentadiene market value during the forecast period,” says a senior analyst at Technavio.
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Dicyclopentadiene Market: Segmentation Analysis
This market research report segments the dicyclopentadiene market by application (UPR, hydrocarbon resins, EPDM elastomers, Poly DCPD and others), and geographic segmentation (APAC, Europe, MEA, North America, and South America).
APAC led the dicyclopentadiene market in 2019, followed by South America, Europe, North America, and APAC. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the growing manufacturing sector and the presence of several automotive and construction businesses in the region.
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Some of the key topics covered in the report include:
- Hydrocarbon resins
- EPDM elastomers
- Poly DCPD
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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