Global Dicyclopentadiene Market 2018-2022
Dicyclopentadiene (DCPD) is a chemical compound which is a dimer of cyclopentadiene (CPD). Dicyclopentadiene products are obtained during the cracking process of high petroleum fractions. It is majorly used is in the manufacturing of resins.
Technavio’s analysts forecast the global dicyclopentadiene market to grow at a CAGR of 5.35% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global dicyclopentadiene market for 2018-2022. To calculate the market size, the report considers the revenue generated from the dicyclopentadiene.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Dicyclopentadiene Market 2018-2022
Technavio recognizes the following companies as the key players in the global dicyclopentadiene market: DowDuPont, Ningbo Jinhai Chenguang Chemical Corporation, NOVA Chemicals Corporation, Shandong Qilong Chemical, Sojitz Corporation, and TEXMARK CHEMICALS.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is 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 the R&D activities to come out with products which are environment-friendly.”
According to the report, one of the major drivers for this market is 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 the manufacturing of body of 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.
Further, the report states that one of the major factors hindering the growth of this market is 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 acute toxicity on skin contact but is extremely harmful if inhaled. If DCPD is swallowed, it can cause severe lung inflammation and lung edema. DCPD is toxic if it is exposed to the aquatic environment. If DCPD is released in the aquatic environment for a prolonged period, it can cause adverse effects on the aquatic life for the long term.
DowDuPont, Ningbo Jinhai Chenguang Chemical Corporation, NOVA Chemicals Corporation, Shandong Qilong Chemical, Sojitz Corporation, and TEXMARK CHEMICALS.
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