Dicyclopentadiene Market

Global Dicyclopentadiene Market:

The global dicyclopentadiene market size reached US$ 820.4 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,220.0 Million by 2032, exhibiting a growth rate (CAGR) of 4.4% during 2024-2032. The rising demand for enhanced industrial catalysts and solvents, along with the numerous improvements in the chemical industry, are primarily stimulating the market.

Dicyclopentadiene Market Analysis:

• Major Market Drivers: The rising adoption of this chemical compound in the manufacturing of flame-resistant automotive components, such as spoilers, body panels, fenders, bumpers, etc., is one of the primary drivers fueling the market. Additionally, it is also used in the production of industrial containers, pipes, sanitary ware, etc., which is acting as a significant growth-inducing factor.
• Key Market Trends: Numerous product innovations, such as the introduction of environment-friendly bio-based EPDM that is manufactured by utilizing plant-based and durable materials to minimize carbon emission levels, are among the emerging trends bolstering the market.
• Competitive Landscape: Some of the prominent companies in the global market include Cymetech Corporation (Sojitz Corporation), Dow Inc., KH Chemicals, Kolon Industries Inc., LyondellBasell Industries N.V., Merck KGaA, NOVA Chemicals Corporation, Royal Dutch Shell plc, Shandong Qilong Chemical Co.Ltd., Texmark Chemicals Inc. (Chemical Exchange Industries Inc.), Yeochun NCC Co. Ltd. (Hanwha Group), and ZEON Corporation, among many others.
• Geographical Trends: Asia Pacific exhibits a clear dominance in the market, on account of the rising usage of polyester resin in electrical and electronic components. Additionally, the inflating popularity of bulk packaging solutions will continue to stimulate the regional market in the coming years.
• Challenges and Opportunities: The volatility of raw material prices can affect the profitability of manufacturers, which can hinder the overall market growth. However, supply chain diversification and strategic sourcing strategies are projected to catalyze the global market in the coming years.
   

Dicyclopentadiene Market Trends:

Demand for EPDM Elastomers

The widespread adoption of ethylene propylene diene monomer (EPDM) elastomers, as they exhibit diverse applications and superior properties, is bolstering the market. Dicyclopentadiene represents a crucial component in the manufacturing of EPDM rubber, which is highly valued for its excellent resistance to heat as well as its flexibility and durability. For example, in February 2024, Lion Elastomers, one of the U.S.-based synthetic rubber manufacturers, signed a supply and distribution agreement with Emulco NV that gave the latter the rights to use Lion's Trilene 65 liquid-EPDM (L-EPDM) as raw material for a new line of water-based emulsions, under their new brand name Aquapol. Additionally, dicyclopentadiene (DCPD) finds extensive applications in these performance polymers and resins, which, in turn, are utilized in automotive parts due to their lightweight and high-strength properties. For instance, in December 2023, ExxonMobil Chemical Co. acquired California-based Materia Inc., which manufactures proxima thermosets created with proprietary blends of dicyclopentadiene (DCPD) and other co-monomers and additives. Furthermore, in May 2024, Godawari Electric Motors collaborated exclusively with leading vendors in the EV segment to provide reliable and advanced electric mobility solutions, including the use of a dicyclopentadiene panel that offers exceptional flexibility and strength, making automobile bodies resistant to breakage. Apart from this, the increasing requirement for automotive sealing solutions is also elevating the dicyclopentadiene market revenue. For example, in May 2024, KRAIBURG TPE introduced EPDM adhesion compounds that are specifically designed for the automotive sealing and exterior sector, thereby addressing global needs with a particular focus on the markets in Europe and Central America. In line with this, the compounds are produced using dicyclopentadiene that exhibits optimized flow properties and increased design flexibility while maintaining high-performance standards.

Emphasis on Sustainability

The shifting preferences among industry players for sustainable chemical products are encouraging manufacturers to develop DCPD-based materials that comply with stringent environmental regulations. The report published by Los Alamos in September 2023 highlighted the sustainable and cost-effective methods developed by the company for producing bio-based dicyclopentadiene. The process uses renewable biomass and generates valuable intermediate products for pesticides and resins. Moreover, the technology involves the adoption of multi-step chemical synthesis for converting furfural, which can be produced from fiber or corn bran, into ultrapure DCPD suitable for the manufacturing of poly dicyclopentadiene (pDCPD) as well as other high-demand polymers. Besides this, in the packaging industry, DCPD-based materials are being engineered to be more biodegradable. Companies are now producing resins that can be easily recycled, thereby minimizing plastic waste and contributing to circular economy initiatives. For instance, in September 2023, Braskem, one of the biopolymers providers, opened its representative office in Tokyo, Japan. In addition, this expansion represented the company's continued development of bio-based PE as a renewable feedstock. Furthermore, in October 2023, OQ Chemicals announced the supply of ISCC PLUS certified Oxbalance tricyclodecane dimethanol (TCD) Alcohol DM that is manufactured by utilizing the bio-circular precursor dicyclopentadiene (DCPD) from Shell Chemicals Europe. Furthermore, in November 2023, researchers at the University of Tokyo created a novel plastic that is more durable, biodegradable, and flexible than the conventional type. It is produced by mixing the plastic-type epoxy resin trimer with the molecule polyrotaxane. Moreover, the substance, known as VPR, exhibits strong internal chemical connections and the ability to maintain its shape at low temperatures. These product innovations are among the dicyclopentadiene market's recent opportunities.

Improvements in Feedstocks

Dicyclopentadiene is generally produced in large quantities via the steam cracking of petroleum products, including naphtha. Consequently, the wide availability and cost of naphtha significantly influence the production cost of this chemical compound. For example, in June 2024, QatarEnergy secured a long-term agreement with Idemitsu Kosan Co. Ltd to supply up to six million tons of naphtha to Japan. Additionally, as a versatile feedstock, naphtha is essential in producing several chemicals and plastics, creating a direct link in the dicyclopentadiene supply chain. This, in turn, is escalating the dicyclopentadiene market demand. For instance, in March 2024, India's Haldia Petrochemicals Ltd, which owns a naphtha cracker producing approximately 700,000 metric tons per year in the eastern state of West Bengal, sought local refiners like Indian Oil, BPCL, HPCL, etc., for the rest of its feedstock needs. Apart from this, several innovations in production efficiency and feedstock management are acting as another significant growth-inducing factor. In May 2024, Honeywell unveiled the naphtha to ethane and propane (NEP) process that offers improved efficiency and reduced CO₂ emissions levels.

Global Dicyclopentadiene Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with the dicyclopentadiene market forecast at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on the type, application, and end user.

Breakup by Type:

• DCPD UPR Grade
• DCPD Resin Grade
• DCPD High Purity
   

Among these, DCPD UPR grade currently exhibits a clear dominance in the market

The report has provided a detailed breakup and analysis of the market based on the type. This includes DCPD UPR grade, DCPD resin grade, and DCPD high purity. According to the report, the DCPD UPR grade represented the largest market segmentation.

UPRs made from DCPD are highly valued for their excellent mechanical properties, chemical resistance, and cost-effectiveness, thereby making them ideal for use in a wide range of industries. For example, Changzhou Tianma Group provides DCPD UPR grade with medium viscosity. The resin provides excellent wettability to glass fiber. Similarly, DCPD UPR grade by Dow Chemical is a dicyclopentadiene (DCPD) resin. It originates from the high-temperature cracking of petroleum fractions and is best characterized as highly reactive intermediates. In the construction sector, DCPD-based UPRs are widely used in the production of fiberglass-reinforced plastics (FRP) for applications such as panels, tanks, and pipes, where durability and resistance to environmental factors are critical. Additionally, the automotive industry relies heavily on DCPD UPRs for manufacturing lightweight, high-strength components that enhance vehicle performance and fuel efficiency. The marine industry also benefits from DCPD UPRs due to their superior resistance to water and harsh environmental conditions, making them suitable for boat hulls and other marine structures. Moreover, the ease of processing and molding DCPD UPRs into complex shapes and forms adds to their appeal across various manufacturing processes. As per the dicyclopentadiene market overview, the consistent demand from these diverse sectors will continue to bolster the segment's growth in the coming years.

Breakup by Application:

• Unsaturated Polyester Resin
• Hydrocarbon Resins
• Ethylene Propylene Diene Monomer (EPDM) Elastomers
• Cyclic Olefin Copolymer (COC) and Cyclin Olefin Polymer (COP)
• Poly-DCPD
• Others
   

Currently, unsaturated polyester resin holds the largest dicyclopentadiene market share

The report has provided a detailed breakup and analysis of the market based on the application. This includes unsaturated polyester resin, hydrocarbon resins, ethylene propylene diene monomer (EPDM) elastomers, cyclic olefin copolymer (COC) and cyclin olefin polymer (COP), poly-DCPD, and others. According to the report, the unsaturated polyester resin represented the largest market segmentation.

Unsaturated polyester resin is gaining widespread traction, owing to its extensive range of applications and favorable properties. Additionally, it is used for producing fiberglass-reinforced plastics (FRP) essential for constructing robust and resilient structures, such as panels, tanks, pipes, etc. In January 2024, AOC, one of the global suppliers of specialty resins, completed the delivery of a new production line of unsaturated polyester resins in Nanjing, China. According to the IMARC, the global unsaturated polyester resins market size reached US$ 13.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 20.9 Billion by 2032, thereby exhibiting a growth rate (CAGR) of 5.1% during 2024-2032. This, in turn, is positively influencing the dicyclopentadiene market outlook.

Breakup by End User:

• Building and Construction
• Automotive
• Marine
• Electrical and Electronic
• Others
   

The report has provided a detailed breakup and analysis of the market based on the end user. This includes building and construction, automotive, marine, electrical and electronic, and others.

Dicyclopentadiene (DCPD) finds diverse applications across several industries, including building and construction, automotive, marine, and electrical and electronics. In the building and construction sector, the chemical compound is used to produce durable resins. In the automotive industry, DCPD-based materials are essential for manufacturing lightweight and high-strength components such as bumpers and body panels, enhancing vehicle efficiency and performance. The marine industry uses dicyclopentadiene to produce boat hulls and other marine structures due to its superior resistance to corrosion and harsh marine environments. Additionally, as per the dicyclopentadiene market statistics, the electrical and electronics industry benefits from DCPD's excellent insulating properties, making it ideal for producing high-performance electronic components, insulating materials, and circuit boards.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific currently dominates the market

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific accounted for the largest market share.

The rising adoption of plastic products is bolstering the dicyclopentadiene market's recent price across countries in Asia Pacific. As per the India Brand Equity Foundation (IBEF), the consumption of plastics has significant variation, with Western India accounting for approximately 47%, the Northern part for 23%, and the Southern for roughly 21%. Moreover, the growing production of automobiles is escalating the popularity of dicyclopentadiene-based materials that are essential for manufacturing lightweight and high-strength components, such as bumpers and body panels, thereby enhancing vehicle efficiency and performance. According to OICA, roughly around 4.39 million vehicles were produced in China in 2021. The widespread requirement for automotive materials will continue to stimulate the regional market in the coming years.

Competitive Landscape:

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major dicyclopentadiene market companies have also been provided. Some of the key players in the market include:

• Cymetech Corporation (Sojitz Corporation)
• Dow Inc.
• KH Chemicals
• Kolon Industries Inc.
• LyondellBasell Industries N.V.
• Merck KGaA
• NOVA Chemicals Corporation
• Royal Dutch Shell plc
• Shandong Qilong Chemical Co.Ltd.
• Texmark Chemicals Inc. (Chemical Exchange Industries Inc.)
• Yeochun NCC Co. Ltd. (Hanwha Group)
• ZEON Corporation
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Dicyclopentadiene Market Recent Developments:

• June 2024: QatarEnergy entered into a long-term agreement with Idemitsu Kosan Co. Ltd to supply up to six million tons of naphtha, which is used for producing dicyclopentadiene, to Japan.
• May 2024: KRAIBURG TPE launched EPDM adhesion compounds that are specifically designed for the automotive sealing and exterior sector.
• May 2024: Honeywell introduced the naphtha to ethane and propane (NEP) process that provides improved efficiency and reduced CO₂ emissions levels.

Dicyclopentadiene Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the dicyclopentadiene market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global dicyclopentadiene market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the dicyclopentadiene industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.