The global market for TCD Alcohol DM is expected to grow at a CAGR of 7.5% during the forecast period 2023 to 2030. The substance known as TCD alcohol DM, which is also known as tricyclodecane alcohol dimethanol, is a chemical that is odorless, viscous, and colorless. TCD alcohol DM is used to give the product elasticity and transparency, and it also has a use in the production of surface coatings that are of high quality and strength. TCD alcohol DM is also utilized in the production of dimethacrylates, which find widespread use in a variety of UV treatments including UV curing adhesives, electronic components, and UV curing inks, amongst other applications. This growth would be driven by the demand for TDM alcohol, which is used in the production of dimethacrylates. The demand for TCD alcohol is being driven by the widespread usage of dimethacrylates in a variety of UV curing applications, including adhesives, inks, electronic coatings, and coatings. As a result of the growing need for UV-cured adhesives in flexible packaging, the global market for TCD alcohol is predicted to experience a rise as a result of this trend. It is anticipated that the increased demand for UV-cured inks would also push the expansion of the worldwide TCD alcohol market.
Demand from UV Inkjets is Propelling the Market for TCD Alcohol DM
The market for TCD-alcohol DM is expanding thanks to the increasing usage of UV curing inks in the packaging of food and beverages. This is helping to drive market growth. They are also the material of choice for use in coatings, adhesives, inks, and electrical components. Backward integration is a strategy that is used by players who want to have a significant influence over the supply and consumption of the products. One of the most important factors contributing to the development of the market is the ever-increasing need for specialized coatings in the electronic industry. It is anticipated that advances in the need for flexible packaging will propel the growth momentum further. In developed countries, TCD-alcohol DM has been used in UV inkjet inks. This is a relatively recent development. As a result, the large development potential of the packaging sector in developed economies as well as developing economies all over the world is a major trend that is strengthening the revenue possibilities in the market. Electronics and semiconductor manufacturing is yet another potentially fruitful area that could lead to the creation of brand-new job openings. The recent increase in the number of shipments of consumer electronics and business electronics to developing countries of the world is responsible for a significant portion of this phenomenon. However, in order to comply with the environmental rules that are now in place in a number of nations, the process of synthesizing the molecule needs to be improved.
Growing Sector of the Flexible Packaging Industry
It is anticipated that the significant demand for flexible packaging, tin containers, commercial printing, and printing, in conjunction with the expansion of the flexible packaging industry, will support the growth of the market. According to Statista, the overall manufacturing volume of flexible packaging around the world in 2017 was predicted to be 27.4 million metric tonnes and is anticipated to reach 33.5 million metric tonnes by the end of 2023. The use of TCD alcohol DM products can be seen represented by the growing volume of flexible packaging. Additionally, the expanding use of UV adhesives in the flexible packaging industry as well as the rising popularity of environmentally friendly UV-treated ink over petrochemical-based products will drive up the global demand for TCD alcohol DM. This trend is expected to continue for the foreseeable future. A thriving market for labeled packaging as a result of increased investments in branding and marketing will provide significant growth in the global use of UV curing ink over the next few years, which will follow the growth of the TCD alcohol DM market. This growth will occur in tandem with the growth of the market for TCD alcohol DM. As a result, the increased demand for flexible packaging as a result of the expansion of the transportation and e-commerce industries would also provide a considerable impetus to the consumption of TCD alcohol across the world.
Patent Expiry to Open Bundle of Market Opportunities
Due to the fact that Oxea GmbH holds the patent for the technology necessary to make TCD alcohol DM, they are currently the only firm that can produce TCD alcohol DM. On the other hand, as the deadline for the patent's expiration draws closer, the dynamics of the market are likely to shift. The patent is expected to expire in 2023, and as a result of the monopolistic nature of the worldwide TCD alcohol DM market, it is anticipated that this will result in buyers undertaking a process of backward integration.
Utilization of TCD Alcohol DM in the Production of High-Performance Surface Coatings with the Aim of Increasing Market Share TCD alcohol DM confers improved elasticity on finished goods. Because of the amazing transparency, it bestows to items, it is utilized in the production of high-performance surface coatings. Despite this, the market for TCD alcohol DM will face a significant obstacle in the form of proprietary technology. On a more positive side, the extensive research and development work that has been done in the field of optoelectronics is expected to augur well for the industry in the next years by generating prospects for market expansion. It is anticipated that the rising demand for flexible packaging, corrugated containers, commercial printing, and publication will stimulate the expansion of the industry. The global market for TCD alcohol DM is being significantly influenced by the growing number of industrial units, in particular those catering to the automotive and electrical industries, amongst others. The demand for TCD alcohol DM in the manufacturing sector, particularly in the automotive and electronic industries, has a considerable influence on the market drivers. This is especially true in the case of the automotive industry.
Stringent Regulations on Manufacturing Process and Requirements to Hinder New Entrants
TCD alcohol DM is one of the dangerous substances that are responsible for a wide variety of negative effects on humans as well as the ecosystems in which they live. Humans who inhale chemicals have significant lung discomfort as a result of this. The availability of workers to make the goods is adversely affected as a result of this circumstance. Additionally, contact with the chemical can cause itching in the eyes and allergic reactions on the skin; ingestion of the substance is almost always lethal. As a result, severe government laws have been created to regulate the appropriate manufacture and use of items on both the side of the manufacturer and the side of the customer. For example, Regulation 1272/2008/EC and Classification, Labelling, and Packing (CLP) and its amendments in Europe incorporate the terms of separation and labeling rules agreed upon at the UN level. This program, which is called the Global Chemical Separation and Labelling Program (GHS), has introduced new classification methods, and safety statements for the label, while taking into consideration aspects that were a part of earlier EU legislation. Because of a requirement, manufacturers were required to label the packages in the appropriate manner before putting them on the market. The purpose of drafting a label that discloses the potential dangers of a particular chemical is to safeguard employees, consumers, and the environment from any adverse effects that may result. Because it is difficult for manufacturers to comply with the rigorous laws, there is a reduced risk of new competitors entering the market. However, makers of TCD alcohol DM comply with stringent environmental rules and have a competitive advantage over their competitors due to the absence of VOCs in their goods, which makes them environmentally friendly. This gives them an edge over their alternatives.
UV Cure Coatings Applications Dominating the Market
The global market for TCD alcohol DM is segmented under application categories such as UV inkjet inks, UV cure coatings, and other categories, based on the application in which it is used. Optoelectronics and ultraviolet adhesives are included in the other products category. In 2021, the UV cure coatings submarket was responsible for an enormous 45% of the overall market. The expansion of the market for UV coatings may be directly attributed to the innovations and improvements that have taken place in the electronics sector. It is anticipated that the market would expand, mostly as a result of the high demand coming from the Asia Pacific and the increased efforts being made to encourage the adoption of environmentally friendly products. The growing demand for UV cure coatings, which offer performance that is comparable to that of conventional products, is anticipated to contribute to a growth in the volume of global TCD Alcohol DM use during the forecast period.
In the printing industry, significant advances in eco-friendly UV inkjet inks paired with low VOCs are predicted to favorably drive the application penetration in the TCD alcohol DM market by the year 2030. UV-treated inks are projected to have more acceptance than petrochemical-based inks as a result of the increasing eco-friendliness of UV inkjet inks and a global shift toward non-volatile composites. This is due to the fact that UV inkjet inks are treated with ultraviolet light. There will be a substantial penetration of TCD alcohol in UV cured coatings and inkjet inks, which will cause the other application segment to have moderate growth potential and a lesser capacity to grab the market.
Packaging Owned the End-Use Segment
In 2021, the packaging sector owned the greatest proportion of the total TCD alcohol DM market. The increasing demand for flexible packaging has led to an increase in the demand for UV adhesives, which in turn has been boosting the market for TCD alcohol DM around the world. As a result of an increase in demand across a wide range of business verticals, it is anticipated that the market for TCD alcohol DM will experience significant growth during the forecast period. Graphite lead pencils are made using TCH alcohol DM, which is a component of the manufacturing process.
In addition, the rapid expansion of the consumer electronics sector is aiding market growth. TCD alcohol is typically applied as a covering for ultraviolet (UV) protection against radiation. It is anticipated that the rising level of performance of TCD alcohol DM goods in automobiles, infrastructure, and media communication will have a significant impact on the growth of the market for TCD alcohol DM. It is anticipated that the widespread applicability of products in the end-user sector will serve as a primary driver of the market over the course of the forthcoming era.
APAC Dominating the Global Market for TCD Alcohol DM
In 2021, the Asia Pacific had taken the lead in the market in terms of market revenue. Because of the many different companies that are located in the Asia Pacific, this region held the greatest share of the TCD alcohol DM market in 2021, accounting for more than 35% of the total revenue generated by the market and is expected to grow at a CAGR of 7.5% during the forecast period of 2023 to 2030. The dominance of Asia Pacific in the market for TCD alcohol DM is mostly attributable to developments in the electronic goods and packaging industries. At the moment, people all around the region are utilizing pre-packaged food and sanitation facilities such as detergents, hand washers, and basics that frequently preserve the floor and toilets. It is anticipated that these changes will generate a new opportunity for the FMCG business, which will subsequently have a significant impact on the ink printing industry throughout the region. There is an expectation that the printing and commercial components, which have seen significant improvements in countries such as India, Japan, and China, will accelerate the expansion of the TCD Alcohol DM market in the region. It is anticipated that these critical shifts would result in new opportunities for the FMCG industry, which will subsequently have a significant impact on ink printing throughout the region. In addition, there will be a significant number of students attending schools in China and India, which will boost the sale of printed books and ultimately result in the implementation of UV inkjet printing in the future.
During the forecast period, it is anticipated that Europe will have the most rapid expansion in the global market for TCD alcohol DM. It is anticipated that the highly developed state of the publication and commercial printing industries in European countries would contribute to an increase in demand for TCD Alcohol DM in UV inkjet inks. As a result of the likelihood that demand will stay high from the packaging industry and the fact that this business is thriving, the European market for TCD alcohol DM will also thrive. It is anticipated that the market will show consistent expansion in North America during the forecast period.
Competitive Scenario to Witness a Significant Shift Post Patent Expiration
The TCD alcohol DM sector is highly concentrated, with OQ Chemicals (OXEA) serving as the dominant competitor and holding somewhere between 85 and 90 percent of the market share. It has its very own original and patent-protected technology for the production process of TCD alcohol DM, which gives it a significant advantage over its competitors. In addition, a powerful brand image and about 1,900 raw material suppliers located all over the world contribute to the company's strengthened position in the market. Oxea's dominant position will be further strengthened as a result of the fact that the new participants will be required to pay for the rights to the patented technology before they can begin production of the chemicals. Despite the fact that this circumstance has prevented new companies from entering the market, the landscape may shift after the patent has expired. Following patent expiration, a number of companies are likely to begin manufacturing TCD alcohol DM, which will result in a significant shift in the competitive landscape of the market.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of TCD Alcohol DM market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
