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Shibuya-ku, Tokyo, Japan, Japan, May 16, 2022, 05:26 /Comserve / -- The global dicyclopentadiene market is expected to record a CAGR of 5.1% during the study period to surpass USD 1,071.74million by the end of 2031.
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Global Dicyclopentadiene Market —Forecast till 2031, The global dicyclopentadiene market is expected to record a CAGR of 5.1% during the study period to surpass USD 1,071.74million by the end of 2031. The global market is attributed to the adoption of various success strategies, such as expansion, product development, and acquisition by the major market players to achieve revenue and long-term growth during the forecast period.
The global dicyclopentadiene market is expected to witness notable growth during the research period the continuous growth of the oil and gas industry. The global dicyclopentadiene market is principally determined by its broad use in assembling fiber-reinforced plastics (FRP). FRP has supplanted conventional underlying materials, like wood and metals, owing to their high solidarity to-weight ratio, compound opposition, weatherability, simple fabrication, and adaptability of the product plan. The ongoing pattern of high strength and lightweight primary materials has brought about popularity for dicyclopentadiene. Another critical driver of the global market is its utilization in the production of ethylene propylene diene monomer (EPDM) elastic, further utilized in seals, gaskets, and O-rings across various end-use enterprises.
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Market Segmentation
The global dicyclopentadiene has been classified based on grade, application, and region.
In terms of grade segment, the global dicyclopentadiene market has been categorized into polyester resin grade, hydrocarbon grade, high purity grade, and the global dicyclopentadiene market others.
By application segment, the global dicyclopentadiene market has been divided into unsaturated polyester resin, hydrocarbon resin EPDM elastomers, cyclic olefin polymer (COP) & copolymer (COC), poly-DCPD, and others.
The global market has been classified into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The Asia-Pacific market is likely to contribute the largest market owing to 47.2% of the global market share in 2019. The region is estimated to register the highest CAGR of 5.4% for the forecast period due to the fastest growth of the unsaturated polyester resin manufacturing industry. Additionally, a continuous rise in demand for various types of plastics, adhesives, and coatings is fuelling the dicyclopentadiene market within the Asia Pacific region.
North America accounted for the 22.0% share of the global market contributing to the second-largest market for dicyclopentadiene. The regional market is attributed to the presence of well-established plastics and automotive manufacturing industries and the availability of major petroleum feedstocks has also been projected to boost the production and demand for dicyclopentadiene within North America.
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Major Players
The prominent players operating in the global microcrystalline cellulose market are Exxon Mobil Corporation, Chevron Phillips Chemical Company, Cymetech Corporation, Nova Chemicals Corporation, Tokyo Chemical Industry CO., LTD (TCI), Royal Dutch Shell, Dow Chemical Company, Braskem, Lyondellbasell Industries Holdings B.V, Sinopec, Dow Chemical Company, Braskem, and Cymetech Corporation.
COVID 19 Impacts
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