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The size of the Dicyclopentadiene (DCPD) market was $0.012bn in 2022 and will rise from $0.035bn in 2023 to $1.5bn by 2030, a compound annual growth rate (CAGR) of 5.7%. The dynamics and expansion of the Dicyclopentadiene (DCPD) Market are determined by various factors. One major factor is that DCPD is used widely in manufacturing unsaturated polyester resins, which have numerous applications in the construction, automotive, marine, and electrical industries. Unsaturated polyester resins already serve as versatile materials for production purposes for composites, laminates, and coatings. Consequently, DCPD has become an essential ingredient in making high-performance, durable composite materials used for various end-use applications.
Additionally, the construction industry largely drives the growth of the DCPD market. In particular, construction products such as reinforced plastic panels, pipes, and tanks are made from DCPD-based unsaturated polyester resins. On the other hand, these resins are used in producing lightweight composite components, thus influencing the automotive as one of its main customers. For example, body panels, bumpers, or interior parts are examples of components fabricated using composites derived from dicyclopentadiene, resulting in efforts made within the automobile industry to cut down on vehicle weight, thereby enhancing fuel efficiency levels. Furthermore, electrics/electronics sectors rely on dcpd-based upres for insulator enclosures circuit boards, among others, whereby its electricity properties, flame retardancy, and molding ability cater to different electrical needs.
In addition to that, technological advancements and innovations in resin formulations play a vital role in market development. Manufacturers are researching with the aim of improving heat resistance and mechanical strength as well as curing characteristics exhibited by dcpd-based resins, amongst other performance qualities of such polymers currently being sold globally. The DCPD market is significantly affected by the geographical distribution of manufacturing activities and construction projects. Regions with strong industrial and construction sectors, such as Asia-Pacific and North America, have a higher demand for DCPD. However, the dynamic raw material prices, environmental considerations, and competition from different materials could affect the DCPD market. Feedstocks for DCPD production are critical in determining overall production costs because they influence the cost and availability of raw materials used. Due to these concerns about the environment when certain resins are employed or composite materials disposed of, industries have started considering eco-friendly methods and alternative substances.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | 5.7% (2023-2030) |
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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