The global DCPD resin market is growing at a potential growth rate Year-over-Year (YoY) and has reached USD 655 million in 2020. The market is further expected to touch USD million by 2027, growing at a CAGR of almost 7% during 2021-2027 (forecast period). DCPD resin, a low-cost thermoplastic resin, manufactured from cyclopentadiene. DCPD is a very reactive resin. It readily copolymerizes and has found many applications. DCPD is widely used in many industries, such as – Paints and coating, tackifiers, hot melt adhesives, EDPM rubber, etc. Furthermore, the growing construction work in the Asia Pacific region will fuel the growth of the DCPD resin market.
Growth Drivers
Increasing demand for high-quality optical lenses
DCPD resin is being used to produce high-quality optical lenses. The ever-growing obsession of the people with the high definition pictures is providing a good platform for the growth of the optical lens market, which will directly contribute towards the growth of the DCPD resin market. The optical lens market is already worth many billions and is likely to grow at a very steady pace and will drive the DCPD market as well. DCPD is also used to enhance the heat resistivity of plastics.
UPR (Unsaturated Polyester Resin) will again be leading the DCPD resin market in the forecast period.
UPR is one of the major products of DCPD. Unsaturated polyesters manufactured from DCPD have enhanced thermal and oxidative resistance properties. UPR also has high processability and low linear shrinkage as compared to other polyester resins. Unsaturated polyester resins have found usages in the production of large glass fibers, reinforced plastic articles including sanitary-ware, tanks, pipes. The use of UPR in cryogenic tanks is also going to contribute to the growth of the market.
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Competitive landscape
DCPD resin market is fragmented owing to the presence of several companies that provides varied petroleum resin products. However, the companies that hold the majority share of the Petroleum Resin market are Brasken, Cymetech (Owned by Sojitz), Reliance Industries, Henghe Petrochemical Co., Ltd, Shandong ShenxianRuisen Petroleum Resins Co., Ltd, Cepsa, Mitsui Chemicals, Ineos Phenol, ExxonMobil, Rain carbon, Zeon Corporation, Idemitsu, Puyang Changyu Petroleum Resins, Lesco, Kolon Hydrocarbon, PuyangTiancheng Chemical Co., Ltd. Arakawa Chemical Industries, Eastman Chemical Company, BASF, Dow Chemicals, and other prominent players.
In the DCPD resin market, prominent market participants compete based on price and product quality. Small and medium-sized market players are expected to show considerable improvements in the foreseeable future, given the moderate level of capital expenditure needed to set up a business. The large-sized companies, however, are likely to aim for global expansion, in a bid to gain a more considerable brand reputation.
DCPD ResinMarket: Regional Insight
DCPD market on a global scale is divided into the Asia Pacific, North America, Europe, South America, and the Middle East region. Asia-Pacific region is most likely to dominate the DCPD resin market with China, Japan, and India leading the way. The regional market share will grow in the forecast period with the growing automotive industry, increasing construction work, and growth of many other industries. The high demand for adhesive, tapes, refurbished glass, and the increasing demand for cryogenic tanks will also contribute towards the growth of the DCPD resin market in the Asia-Pacific. UPR segment is likely to dominate the market in North America.
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