Press release
APAC TCD Alcohol DM Market to remain a critical revenue generator over 2016-2024, high demand from the printing sector to boost the regional growth
This product is basically colorless and exhibits the property of high viscosity at room temperature. It is also widely used to manufacture dimethacrylates that possess excellent wetting characteristics and are utilized to develop UV cured inks, thereby augmenting global TCD alcohol DM industry.
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These inks are preferred over their petrochemical counterparts and are used for inkjet printing processes and flexography. Notable advancements in the education system coupled with the rise in the requirement for UV cured inks will propel TCD alcohol DM market over 2016-2024. The significant expansion of the logistics, flexible packaging, e-commerce, and adhesives industries will also provide a remarkable impetus to global TCD alcohol DM industry, which is predicted to cross a revenue of USD 20 million by 2024, growing at a CAGR of approximately 7% over 2016-2024.
Oxea Corporation is the only manufacturer of TCD alcohol DM and thus has the sole proprietorship in global TCD alcohol DM market. The company owns several patents affirming its right to hydrogenate DCPD (dicyclopentadiene) products obtained via oxo synthesis that are further used to manufacture the product. Other companies wishing to partake in TCD alcohol DM industry are required to legally purchase a patent from Oxea GmbH.
Powered by the increasing tech-savvy crowd and rise in per capita incomes, Asia Pacific is deemed to be the most attractive regional segment for TCD alcohol DM market. With a base revenue of USD 4 million in 2015, APAC TCD alcohol DM market will register massive revenue over the forthcoming years. India, Japan, China, Taiwan, and South Korea are slated to be the chief regional contributors. The excellent developments in the prevailing education system in these countries will necessitate the requirement for printed material, which is likely to fuel TCD alcohol DM industry from UV inkjet inks which registered a revenue of USD 5 million in 2015 driven by its superior properties.
Having held a share of over 40% of the overall revenue in 2014, TCD alcohol DM market from UV cure coatings will grow at a compound annual growth rate of 7% over 2016-2024. Rising preference toward portable electronic appliances pertaining to the growing tech-oriented population will propel the demand for UV cure coatings applications.
With a contribution of more than 25% in the global share, Europe TCD alcohol DM industry will grow at a rate of more than 6.5% over 2016-2024, primarily due to the high demand for optoelectronics.
Increasing R&D activities in optoelectronics will lead to a paradigm shift in the competitive landscape of global TCD alcohol DM market. While Oxea Corporation, till date, remains the exclusive producer of TCD alcohol DM, the patents that the company owns are reported to near their expiration, which is a positive indicator for other companies, who will have a fair chance to own a stake in the global industry.
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