https://www.industryarc.com/Report/16098/polydicyclopentadiene-market.html

Polydicyclopentadiene Market is forecast to reach $681.6 million by 2026, after growing at a CAGR of 3.5% during 2021-2026. Polydicyclopentadiene (PDCPD) is a polymer formed of dicyclopentadiene (DCPD) and ring-opening metathesis polymerization (ROMP). The usage of polydicyclopentadiene is increasing in various end-use industries due to its excellent characteristics such as chemical resistance, stiffness, impact strength, heat resistance, and more. Globally, the flourishing construction industry and growing demand from the automotive industry are the prime growth drivers of the polydicyclopentadiene market. In addition, the rising demand for polydicyclopentadiene as a substitute for advanced engineered thermoplastics in the building and construction industry will boost the market growth.
The Covid-19 pandemic has rapidly changed the landscape of the construction industry over the past several weeks as governmental restrictions, supply chain challenges, and increased job site safety protocols spread across various regions. The construction industry has been hard hit by COVID-19 and is being challenged by many barriers such as contractual obligations, resource availability, deliverables, health and safety measures, and project delays or cancellations. This rapidly changing landscape of the construction industry is directly affecting the construction equipment demand, which is then limiting the polydicyclopentadiene market growth in various regions during the coronavirus outbreak.

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Polydicyclopentadiene Market Segment Analysis - By End-Use Industry

The building & construction industry held the largest share in the polydicyclopentadiene market in 2020. The segment is expected to grow at a CAGR of 3.1% during the forecast period, owing to increasing usage of polydicyclopentadiene in the building and construction sector to manufacture construction equipment such as scaffolding access door and so on. The polydicyclopentadiene is easily recyclable and versatile. Besides, polydicyclopentadiene can be easily molded into a variety of shapes and have higher tensile strength and flexibility for molding when compared to other materials available for similar purposes. These polymers have successfully replaced metals and ceramics for various durable goods and heavy-duty equipment owing to which they are extensively used in the building and construction industry to manufacture its equipment. Thus, these extensive properties of polydicyclopentadiene are driving the market growth in the building and construction industry during the forecast period.

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Polydicyclopentadiene Market Segment Analysis - By Geography

North America region held the largest share in the polydicyclopentadiene market in 2020 up to 33.1%, owing to the increasing building and construction sector in the region. With a perfect mix of properties due to its combination of mechanical and anti-corrosion properties, polydicyclopentadiene has been used in building and construction. According to the US Census Bureau, in August 2020 total construction of the United State was at a seasonally adjusted annual rate of 1,412,823 which is 2.5 percent above the August 2019 rate of 1,378,956. The Mexican governments launched the National Development Plan (Plan Nacional de Desarrollo or PND) for the 2019-2024 administration with a planned investment of USD 586 billion. The building and construction activities are also increasing owing to the various government initiatives such as Foreign Direct Investments (FDI). Such investments and initiatives in the construction industry by the government in North America are anticipated to drive the polydicyclopentadiene market in North America during the forecast period.

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Polydicyclopentadiene Market Drivers

Increasing Automotive Production

Polydicyclopentadiene is extensively used in the automotive industry to manufacture automotive components such as body panels, bumpers, and other components for trucks, buses, tractors owing to its excellent characteristics such as high tensile strength, high impact strength, flexural properties, and more. China is the world's largest vehicle market, according to the International Trade Administration (ITA), and the Chinese government expects automobile production to reach 35 million by 2025. Also, according to OICA, the production of passenger cars has increased from in 4,131,358 2018 to 4,149,935 in 2019, an increase of 0.4% in the European Union's new member region. The automotive industry is flourishing in various regions owing to the increasing industrialization coupled with the increasing population. Thus, with the increasing automotive production, the demand for polydicyclopentadiene for manufacturing automotive components will also gradually increase, which will act as a driver for the polydicyclopentadiene market during the forecast period.

Flourishing Waste Water Treatment Industry

Polydicyclopentadiene is widely used for manufacturing equipment for wastewater treatment industries. According to the National Infrastructure Plan, for the period 2016 to 2025, the potable water and sanitation sectors have an infrastructure gap of USD 12.252 million. With regard to projects in the same sector, an investment of approximately USD 5,65 billion is expected over the same period. An additional investment of USD 1.31 billion is necessary to cover the medium-term infrastructure requirements (2016-2020). In addition, an investment of USD 5.28 billion is required for the long-term coverage of the infrastructure gap between 2021 and 2025. Thus, with the flourishing wastewater treatment industry, the demand for polydicyclopentadiene manufacturing equipment for wastewater treatment industries is also increasing, which acts as a driver for the polydicyclopentadiene market.

Polydicyclopentadiene Market Challenges

Several Disadvantages Related to Polydicyclopentadiene

Polydicyclopentadiene has several disadvantages, despite the numerous advantages, that have limited its wider application as an industrial material. Many of these stems from the polymer's lack of chemical functionality. For instance, when freshly prepared, PDCPD has low surface energy; this can make it difficult to paint parts of PDCPD or attach them to other objects without a time- and space-intensive ageing step to oxidize the surface. Also, since the parent monomer cannot be easily functionalized without disrupting its capacity to participate in the metathesis reaction, the polymer is not chemically tunable. Finally, from its monomer DCPD, PDCPD often inherits an acrid, camphor-like odour, limiting its indoor utilization. All these factors are anticipated to restrain market growth.

Covid-19 Impact on the Polydicyclopentadiene Market

Due to the Covid-19 outbreak, all the building and construction activities are stopped until the pandemic, no new orders can be taken over neither the existing order production could be completed, which is limiting the polydicyclopentadiene market negatively. For instance, the construction output in Great Britain fell by a record 35.0% in Quarter 2 (Apr to June) 2020 compared with Quarter 1 (Jan to Mar) 2020. This value decline was due to the Corona Virus pandemic. In addition, the production of automobiles has been disruptively stopped, contributing to a major loss in the total automotive sector. With the decrease in automotive production, the demand for polydicyclopentadiene has significantly fallen, which is having a major impact on the polydicyclopentadiene market. According to the European Automobile Manufacturers Association, In June 2020, demand for new commercial vehicles across the EU remained weak (-20.3%).

Polydicyclopentadiene Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the polydicyclopentadiene market. Major players in the polydicyclopentadiene market are Mitsubishi Chemicals Corporation, The Dow Chemical Company, Exxon Mobil Chemicals, Sinoven Biopolymers Inc., Shell Chemicals, Polirim S.R.L., Osborne Industries Inc., Otis Trada Plastics Technologies, and Core Molding Technologies.

Key Takeaways

North America dominates the polydicyclopentadiene market, owing to the flourishing building and construction sector in the region. According to the US Census Bureau, the United States' total construction in February 2020 was at a seasonally adjusted annual rate of 1,366,697, 6.0 percent above the 1,288,951 rates in February 2019.

Polydicyclopentadiene is used in automotive, and construction industries, as it has higher toughness and impact strength as compared to other thermoset polymers. Polydicyclopentadiene has thermal and chemical stability, UV-resistance, and high resistance within a high-temperature range.

Polydicyclopentadiene however has low surface energy, making it hard to paint or add polydicyclopentadiene parts to other objects. In addition, it is expected that the availability of high-performance engineering thermoplastics will limit the growth of the market for polydicyclopentadiene.

Due to the Covid-19 pandemic, most of the countries have gone under lockdown, due to which the building and construction projects are disruptively stopped, which is hampering the polydicyclopentadiene market growth.

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