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Dicyclopentadiene (DCPD) is produced through fractionation of crude C5 streams, which is derived from commercially produced ethylene manufactured by steam cracking a wide range of hydrocarbon feedstocks. It also comes out that there is a need for bio-based products due to an expanded scope, leading producers to try inventing them to address particular problems in these end-use sectors that keep changing. The dynamic changes taking place in the dicyclopentadiene (DCPD) market are attributed to its multifaceted application across chemicals, automotive, and construction industries. This crude oil-derived cyclic diene hydrocarbon is primarily used as a raw material in the production of resins, elastomers, and specialty chemicals. DCPD's significance is well established by its input into the chemical sector as an excellent feedstock for making top-notch resins and polymers.
The dynamics of the DCPD market are highly dependent on the automobile industry, which uses DCPD-based resin for producing lightweight performance components. The composite materials used to manufacture these body parts include DCPD resins. Additionally, the construction sector plays a major role in shaping the dynamics of DCPD markets. Reinforced composites, coatings, and sealants are among many other advanced building materials that can be made from DCPD resins. Accordingly, within construction applications, several products based on DCPD have been created so that they are more durable and weather-resistant while meeting innovative and sustainable building solutions. As various constructions look forward to better performing structures characterized by longer service life spans, there has been continued demand for increasing amounts of DCPD in this sector.
Alternatively, the dynamism of the DCPD marketplace also impacts developments in the renewable energy industry. These are used to manufacture wind turbine blades with DCPD resins, resulting in long-lasting light components. This market, however, faces issues such as volatility of raw material prices, competition from other materials, and ecological concerns. It is derived from crude oil; thus, its price may be affected by changes in global oil markets. The main challenge within the industry is managing fluctuations in costs so as to keep prices competitive. In addition, research and development (R&D) activities contribute to the changing dynamics of the DCPD market. These include ongoing efforts towards developing advanced DCPD formulations, exploring sustainable sourcing options for DCPD, and expanding applications for this monomer.
Dicyclopentadiene Market Highlights:
Global Dicyclopentadiene Market Overview
The Dicyclopentadiene (DCPD) Market Size was valued at USD 0.012 Billion in 2022 and is projected to grow from USD 0.035 Billion in 2023 to USD 1.5 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.7% during the forecast period (2023 - 2030). Increasing demand for dicyclopentadiene in manufacturing resins like polyester, epoxy, phenolic specialty, hydrocarbon, and unsaturated polyester resin shall drive the market. Additionally, the increasing scope of application of dicyclopentadienes such as varnishes, paints, elastomers, flame retardants, metallocenes, pesticides, and others shall positively impact market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Dicyclopentadiene (DCPD) Market Trends
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Growing demand for dicyclopentadiene in manufacturing resins like polyester, epoxy, phenolic specialty, hydrocarbon, and unsaturated polyester resin shall drive the market.
The dicyclopentadiene market is expected to register healthy growth during the review period. The global dicyclopentadiene market is primarily driven by its extensive use in manufacturing fiber-reinforced plastics (FRP). FRP has replaced conventional structural materials, such as wood and metals, owing to their high strength-to-weight ratio, chemical resistance, weather ability, easy fabrication, and versatility of product design. The ongoing trend of high-strength and lightweight structural materials has resulted in high demand for dicyclopentadiene. Another key driver of the global market is its use in the production of ethylene propylene diene monomer (EPDM) rubber, further used in seals, gaskets, and O-rings across various end-use industries.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Additionally, The growing construction industry in developing regions, with rising residential and commercial construction, especially in India and China, coupled with improving standards of living and rising disposable incomes, is driving the growth of the dicyclopentadiene market. Increasing spending by the Indian government on infrastructure development, such as the Smart Cities Mission, Green Corridor, and the building of ports, is propelling market growth. Additionally, in late 2013, the Chinese government started the One Belt One Road project for transportation infrastructure development, which is likely to propel the growth of the construction industry, thereby driving the global market.
Dicyclopentadiene (DCPD) Market Segment Insights
Dicyclopentadiene (DCPD) Type Insights
The Dicyclopentadiene (DCPD) Market segmentation, based on Type, includes Resin Grade, UPR Grade, and Purity. Due to its application in the production of UPR, unsaturated polyester resin (UPR) grade is the largest DCPD product grade category, and this trend is projected to continue in the coming years. Superior color characteristics and fewer trimmers and co-dimers associated with UPR grade offer it an advantage over resin grade. Because of increased industry applications, the high-purity resin product grade is predicted to grow at a faster rate than the industry average over the projection period.
Dicyclopentadiene (DCPD) End-use Insights
Based on end-use, the Dicyclopentadiene (DCPD) Market segmentation includes Aromatic Industries, Automotive, Building & Construction, Paints, Agrochemicals, and others. It is a low-cost solution that outperforms most composite applications in terms of price vs. performance. In the next five years, hydrocarbon resin is expected to remain the second-largest application in the worldwide Dicyclopentadiene (DCPD) Market, owing to increased usage in adhesives, coatings, printing inks, and rubber goods. Also growing construction activities will help this market is growing.
Figure 2: Dicyclopentadiene (DCPD) Market, by End-use, 2023 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Dicyclopentadiene (DCPD) Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific is expected to hold the prime share of the market. Increasing government initiatives for the construction sector in emerging economies like India and China shall support market growth. North America is expected to hold a significant share due to the large manufacturing base for paints & varnishes.
Figure 3: DICYCLOPENTADIENE (DCPD) MARKET SHARE BY REGION 2023 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe is expected to show significant growth due to the increasing demand from the industrial sector. Latin America and Middle East & Africa shall exhibit sluggish growth by the end of the forecast period.
Dicyclopentadiene (DCPD) Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Dicyclopentadiene (DCPD) market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Dicyclopentadiene (DCPD) industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Dicyclopentadiene (DCPD). With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Dicyclopentadiene (DCPD) industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Dicyclopentadiene (DCPD) industry to benefit customers and expand the market sector. The Dicyclopentadiene (DCPD) market has recently given medicine some of the most important advantages. Major Dicyclopentadiene (DCPD) market players, including Exxon Mobil Corporation, Chevron Phillips Chemical Company, Cymetech Corporation, Nova Chemicals Corporation, and others, are attempting to increase market demand by funding R&D initiatives.
ExxonMobil is a global oil and gas company and energy provider. It operates through three business divisions: Upstream, Downstream, and Chemical. The company engages in the exploration, production, trade, transport, and sale of crude oil, natural gas, petroleum products, petrochemicals, etc. ExxonMobil markets fuels, lubricants, and chemicals under four brands: Esso, Exxon, Mobil, and ExxonMobil Chemical.
Also, Nova Pangaea Technologies (NPT) is a company that produces fuel and chemicals from biomass waste. It developed a technology called Refnova which enables a fractionation of lignocellulosic materials into their constituent parts to produce C5 and C6 sugars. The company aims to cut carbon emissions and reduce reliance on oil without using land or crops.
Key Companies in the Dicyclopentadiene (DCPD) market include
- Exxon Mobil Corporation
- Chevron Phillips Chemical Company
- Cymetech Corporation
- Nova Chemicals Corporation
- Tokyo Chemical Industry CO., LTD (TCI)
- Royal Dutch Shell
- The Dow Chemical Company
- Braskem
- LyondellBasell Industries Holdings B.V, Sinopec
Dicyclopentadiene (DCPD) Industry Developments
January 31, 2023- Exxon Mobil Corporation today announced fourth-quarter 2022 earnings of $12.8 billion, or $3.09 per share assuming dilution, resulting in full-year earnings of $55.7 billion, or $13.26 per share assuming dilution. Fourth-quarter results included unfavorable identified items of $1.3 billion associated with additional European taxes on the energy sector and asset impairments, partly offset by one-time adjustments related to the Sakhalin-1 expropriation. Capital and exploration expenditures were $7.5 billion in the fourth quarter, bringing full-year 2022 investments to $22.7 billion, consistent with our guidance.
Dicyclopentadiene (DCPD) Market Segmentation
Dicyclopentadiene (DCPD) Type Outlook
- Resin Grade
- UPR grade
- Purity
Dicyclopentadiene (DCPD) End-use Outlook
- Aromatic Industries
- Automotive
- Building & Construction
- Paints
- Agrochemicals
- Others
Dicyclopentadiene (DCPD) Regional Outlook
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North America- US
- Canada
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Europe- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
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Rest of the World- Middle East
- Africa
- Latin America
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