ALBANY, N.Y., April 15, 2021 /PRNewswire/ -- The popularity of TCD alcohol DM has increased extensively over the years. The rising preference across various applications will serve as growth generators during the forecast period. The large-scale utilization of TCD alcohol DM in the electronics industry will also bode well for growth. All these aspects will churn positive growth prospects during the tenure of 2019-2027.
TCD alcohol DM also known as Tricylodecane alcohol dimethanol is highly viscous and colorless, having a typical odor. The solubility level of TCD alcohol DM in water is slight. It is prominently used for creating hard surface coatings. The overwhelming demand from a range of end-users will serve as a vital growth-generating factor.
According to Transparency Market Research (TMR), the global TCD alcohol DM market is extrapolated to observe a positive growth trajectory through the assessment period. The TCD alcohol DM market is anticipated to record a healthy CAGR of 7.2 percent across the assessment period of 2019-2027. In terms of valuation, the TCD alcohol DM market stood at US$ 14.3 mn in 2018 and expects to surpass US$ 26.7 mn by the end of the forecast period that is 2027.
Environment conservation has become a major issue among a large chunk of the global populace. The awareness about the utilization of eco-friendly products has risen considerably and will bring good growth opportunities for the TCD alcohol DM market. It is used for developing UV curing inks. The preference for UV curing inks as an eco-friendly alternative to petrochemical products will serve as a significant growth prospect.
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Key Findings of the Report
Escalating Usage in Printing Companies to Boost the Growth of the TCD Alcohol DM Market
TCD alcohol DM is largely used across printing companies as it assists in providing a steady printing process. The utilization of TCD alcohol DM in the printing process leads to a decrease in scrap rate and machine halting time. Thus, this factor brings good growth opportunities for the TCD alcohol DM market.
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Packaging Sector to Invite Promising Growth for the TCD Alcohol DM Market
The growing use of TCD alcohol DM in the packaging industry will serve as a game-changer. Massive utilization of flexible packaging in the food and beverage industry will invite tremendous growth opportunities. TCD alcohol DM is used for producing UV-cured adhesives, the main component used in the flexible packaging production process. These aspects will serve as robust growth pillars.
TCD Alcohol DM Market: COVID-19 impact
The novel coronavirus outbreak has changed the growth landscape of the TCD alcohol DM market to a considerable extent. The advent of the COVID-19 pandemic and the stringent lockdown restrictions by numerous countries to contain the virus led to a decrease in the demand and production of TCD alcohol DM as many factories and manufacturing facilities were shut.
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Nevertheless, the relaxations provided by the government to revamp the economy will serve as a relief for the players in the TCD alcohol DM market. It will help in growth-revival.
TCD Alcohol DM market: Vital Growth Drivers
- Awareness about using eco-friendly products to bring good growth prospects for the TCD alcohol DM market
- Rising demand for use across printing companies will further bring immense growth opportunities
- Heightening demand from the thriving electronics industry will sow the seeds of growth across the TCD alcohol DM market
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