Global dicyclopentadiene market to grow at a CAGR of 5.35% during the period 2018-2022.
According to the report, one of the major drivers for this market is the growing demand from Asian countries. In terms of revenue, APAC contributes to almost half of the DCPD market share. The developing economies in this region are fostering the growth in the DCPD market. For instance, DCPD is used in manufacturing poly-DCPD. APAC is the largest consumer of poly-DCPD. Poly-DCPD is used in the manufacturing of body of trucks, buses, tractors, and big containers. Countries like China and India are growing rapidly, and there is a huge demand for tractors in the agricultural sector.
The latest trend gaining momentum in the market is increasing demand for bio-based EPDM. Owing to the increasing concern toward the harmful effect of certain products on the environment and regulations imposed by government bodies, manufacturers are investing in the R&D activities to come out with products which are environment-friendly.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.