Dicyclopentadiene market to depict commendable growth over 2017-2024 via hefty product demand from the automotive and construction sectors
In recent years, dicyclopentadiene (DCPD) market has witnessed significant growth owing to the product’s deployment as a key raw material in the manufacturing of specialty resins that find applications across numerous sectors. The construction, automotive, and electronics sectors have also largely adopted methods that involve DCPD in the process, thereby propelling dicyclopentadiene market expansion. Indeed, DCPD finds usage in the production of high quality resins that find significant application in the manufacturing of specialty electronics, lenses, optical disks and high-quality films. It goes without saying that the expansion of specialty resins industry will positively affect the growth of dicyclopentadiene market.
U.S. Dicyclopentadiene Market Size, by Grade, 2013 – 2024 (USD Million)
Dicyclopentadiene market has found a novel and profitable growth avenue through the use of highly purified DCPD in the construction industry. Polydicyclopentadiene finds wide applications in not only the construction industry but also in the manufacturing of agricultural and construction equipment, body panels for trucks and buses, chlor-alkali industry, waste container industry and more. This widespread spectrum can be attributed to the product’s high impact, temperature, and corrosion resistant properties. Combined with R-RIM, reinforced DCPD has enabled new concepts for construction designs and benefitted designers and engineers with improved dimensional stability and increased rigidity. Reinforced dicyclopentadiene industry has thus witnessed significant propulsion and is expected to continue its exponential performance with increased profitability over 2017-2024.
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Speaking of R-RIM or reinforced reaction injection molding, it is essential to mention that this process has majorly contributed to the expansion of dicyclopentadiene industry. DCPD reaction injection molding enables the widespread application of DCPD in the automotive industry, as RIM-DCPD is capable of creating large and complex automotive parts quickly and efficiently. Incidentally, DCPD has a number of advantages over traditional material like steel and even thermoplastic polymers. Featuring exceptional weight to strength ratio, DCPD parts are virtually unbreakable, owing to which they have come to be used in body panels, bumpers, spoilers and fenders.
Speaking along similar lines, DCPD light weight makes it environmentally beneficial and fuel efficient, heavily expanding its scope in the automotive domain. With automakers struggling to abide by stringent regulations to bring down automobile emission, DCPD naturally emerges as the product of choice to be used in automobile production. Besides being fuel efficient, DCPD has been found to be cost efficient as well as its molds can be used to create complex designs.
Asia Pacific has come to be a pivotal revenue ground for DCPD market, given that the region is a major hub for the construction and automotive industries. Asia Pacific accounted for more than 45% of the total dicyclopentadiene market share in 2016, a figure that is expected to increase as the region expands its industrial base. As DCPD finds expansive application as a raw material in the production of polyester and hydrocarbon resins, APAC dicyclopentadiene industry will witness expansion through the use of these resins in the paint, printing and adhesive industries as well. North America on the other hand, had accounted for 25% of the dicyclopentadiene market share in 2016 due to the substantial consumption of DCPD in myriad sectors and the presence of numerous chemical companies in the region.
The battle against environmental degeneration due to the use of harmful chemicals has encouraged players in the chemical industry to test and develop novel chemical compounds. DCPD seems to have emerged to be one such beneficial and useful chemical compound, thereby propelling dicyclopentadiene market share. In 2016 alone, dicyclopentadiene market size was pegged at $550 million. Powered by the product’s widespread deployment across numerous geographies, dicyclopentadiene industry is expected to register a CAGR of 4.5% over 2017-2024.
Author Name : Paroma Bhattacharya
Polyoxymethylene (POM) market to gain massive proceeds via homopolymer demand over 2017-2024, automotive sector to prominently drive the application spectrum
Over the recent years, the global polyoxymethylene market share has been flourishing on the cusp of rapidly expanding automobile and transportation industry. Owing to its exceptional dimensional stability, low friction rate, excellent rigidity, a high degree of yield strength and stiffness, polyoxymethylene is being widely utilized in manufacturing advanced lightweight materials for automobiles. Speaking in the similar context, the unprecedented upsurge in environmental and economic concerns in the current era have compelled the automotive industry to produce fuel-efficient and lightweight vehicles. Elaborating further, this semi-crystalline thermoplastic material has gradually acquired a dominant position in the range of high-performance plastics, which has, in turn, propelled the growth prospects of polyoxymethylene market. In fact, as per a study report collated by Global Market Insights, Inc., the overall polyoxymethylene (POM) industry is set to register a commendable CAGR of about 8.8 percent over 2017-2024.
U.S. polyoxymethylene market size, by grade, 2013 – 2024 (USD Million)
Concurrently, it would be prudent to mention that high-performance plastics have played a crucial role in lowering the weight of vehicles currently being manufactured by the global automotive sector. The significance of developing lightweight vehicles can be deciphered from the fact that a mere 10 percent reduction in vehicle weight culminates into almost 7 percent cut down in fuel usage, as per reliable estimates. Apparently, polyoxymethylene has been proved to be one such effective thermoplastic that has the potential to replace the vital metal components and parts in various applications-courtesy its striking features mentioned above. In addition to this, the recent boom being witnessed in automobile manufacturing has resulted in increased demand for polymers and engineered materials along the likes of POM. Subsequently, all these declarations clearly demonstrate the colossal commercialization prospects of the polyoxymethylene industry that are bound to materialize over the ensuing years.
Speaking on similar lines, the global POM market is fragmented into two prominent types namely copolymer polyoxymethylene and homopolymer polyoxymethylene. Out of these, homopolymer polyoxymethylene commanded the largest revenue share of the overall polyoxymethylene industry in the year 2016 and is anticipated to retain its dominant place in the forthcoming years. Commonly known as Delrin, this polyoxymethylene material is being chiefly deployed in manufacturing automotive parts owing to its superior room temperature tolerance and high tensile strength.
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To cite an instance of the extensive efforts being undertaken by acclaimed POM market participants with regards to revamping the existing product range of homopolymers, DuPont and Regina have unveiled E-F.A.S.T. (ecological, friction abating sliding thermoplastic) in September 2017. Reports claim that the latest thermoplastic material has been strengthened with a new grade of DuPont’s Delrin® acetal homopolymer, which is likely to favorably influence the environmental performance and productivity while minimizing the use of lubricants. Moreover, one of the key traits of DuPont’s new homopolymer is its consistently low friction coefficient which assists automotive firms to design cost-efficient, eco-friendly, longer lifespan, and low maintenance auto components. Apparently, industry experts have been raving about this new homopolymer and have further stated that the launch of this homopolymer has been a major breakthrough of sorts in the overall POM market.
Additionally, the leading POM industry players are pooling expertise and resources to fortify their presence in this ever-evolving business space. Some of the other notable firms striving toward altering the POM market trends include Asahi Kasei Corporation, LG Chem, Mitsubishi Engineering Plastics Corporation, ChemChina, and A. Schulman Inc. In order to gain an edge over their competitors and expand their reach in myriad geographies, the aforementioned companies have also been involved in several R&D activities and collaborations, which would consequentially impel the polyoxymethylene industry size expansion.
The primary driving forces of POM industry are the swiftly progressing automotive sector and the growing involvement of firms in product innovation. Hence, it is quite obvious that the rapid pace of product penetration in myriad regions will further unlock lucrative growth opportunities for the stakeholders of this business space, eventually propelling the polyoxymethylene industry size over the forecast period. Apparently, it is undeniable that the overall POM market, which is projected to surpass a total valuation of USD 9 billion by 2024, is on its way to establishing itself as one of the most promising niche verticals of polymers and advanced materials industry.
Author Name : Saif Ali Bepari