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Asia Pacific Dicyclopentadiene Market to register extensive growth to 2024

Dicyclopentadiene Market

Dicyclopentadiene Market

Asia Pacific Dicyclopentadiene Market is projected to hold a revenue size of over USD 400 million by 2024. The region witnesses notable production and consumption of the UPR products which will drive the industry growth over 2018-2024. Significant UPR production in the countries like China and Japan coupled with the existence of well-established manufacturing sector in the region will augment the Asia Pacific dicyclopentadiene industry growth.

Asian countries are the prime markets for dicyclopentadiene owing to the vigorous expansion of the manufacturing sector. The growing economies in the region has been observing a major growth across the automotive sector given the increased consumer spending pertaining to the rise in per capita income. Growing product consumption driven by the exponential automotive production will stimulate the dicyclopentadiene market trends.

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The product features some of the efficient properties including high toughness, light-weight and corrosion resistance, which highly influences the manufacturing of automotive parts nowadays. Major countries are moving through a transition of enforcing strict regulations regarding the emission standards.

For instance, India is constantly improving its Bharat stage emission standards with BS6 being the latest one eyeing to reduce the automotive emissions. Similarly, other environmental standards to regulate the automotive manufacturing and control the air pollution levels across the region will drive product demand, fostering the Asia-pacific dicyclopentadiene market share.

Growing demand for unsaturated polyester resins from automobile sector is likely to drive global dicyclopentadiene market outlook. Dicyclopentadiene is widely used to make unsaturated polyester resin, poly dicyclopentadiene, hydro-carbon resins, and these products are further used in the manufacturing of heavy & light vehicle body, big containers, pipes, construction equipment, sanitary ware, and many others.

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Rapidly expanding automotive sector, majorly in the developing countries of the APAC region is driving the demand for dicyclopentadiene. The product is in high demand owing to advantageous properties like sturdiness, corrosion resistance and light weight. Various regional governments across have set emission standards such as Air Pollution Dispute Resolution Act of Japan, the energy policy of China and Bharat stage emission standards in India, to manage the air pollution level.

Moreover, vehicle regulations are imposed for lowering gas emissions and economic fuel consumption. This has prompted manufacturers to opt for light weight products in vehicles which will positively favor dicyclopentadiene product adoption. Unsaturated polyester resins, that is widely used in the production of vehicle body filler systems, is procured from the dicyclopentadiene. Globally, dicyclopentadiene market size is set to exceed USD 800 million by 2024.

Higher purity dicyclopentadiene grades are generally priced much more than many of its substitute products. Also, easy availability of substitute products such as phthalic anhydride can be a restrictive factor for the adoption of dicyclopentadiene in the coming years.

Hydrocarbon resins segment is expected to hold 25% in the overall dicyclopentadiene market share by volume, by the end of 2024. Polyester grade dicyclopentadiene is set to hold 50% of the industry share with the highest growth of more than 4.5% over 2017-2024.

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Global Market Insights, Inc.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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