TCD Alcohol DM Market - Forecast(2024 - 2030)

TCD alcohol DM market size is estimated to be US$ 40.04 million in 2030 and is forecasted to grow at a CAGR of 7.6% during 2024-2030. Increased application of TCD alcohol DM in the automotive industry for touch screen displays, UV adhesives for door handles, hinges, edging extrusions, and various fittings & fixtures will enhance industry growth. TCD alcohol DM, also called as Tricyclodecane alcohol dimethanol, is a colorless, viscous chemical with a specific odor. TCD alcohol DM is used to get elasticity & transparency to the product and finds application in creating strong quality surface coatings. TCD alcohol DM is also used in Dimethacrylates the manufacture, which is widely applied in many UV treatments such as UV curing adhesives, electronics, UV curing inks, and others.

TCD Alcohol DM finds growing use in touchscreens, UV car coatings, and adhesives for fitting various components, fueling market expansion. Its ability to ensure a smooth printing process, minimize machine downtime, and boost printer productivity is driving adoption in printing companies. The increasing use of flexible packaging in the food industry is creating strong demand for TCD Alcohol DM. However, the market faces instability due to fluctuations in raw material prices, impacting production costs. Furthermore, the market sees emerging trends towards bio-based and biodegradable alternatives, presenting both challenges and opportunities for established players

The COVID-19 pandemic has impacted various industries including packaging, printing, automotive, and other industries, thanks to stricter segregation laws and the closure of various governments around the world. The businesses were closed including production and distribution facilities for more than a quarter.

However, amid the COVID-19 pandemic, businesses have not only shifted their operations to different models to communicate with customers, but they also became virtual by being online. A growing number of forward-looking companies in all sectors are committed to adopting new business management models to alleviate the psychological pressures that have emerged as a result of the pandemic. In addition, this will help improve production and boost economic growth. These developments during COVID-19 times will play an important role in shaping the market for TCD-alcohol DM.

The report: “TCD Alcohol DM Market Report– Forecast (2024-2030)”, by Industry ARC, covers an in-depth analysis of the following segments of the TCD alcohol DM industry.

By Purity: Less than 50% purity, 50%-75% purity, 75%-90% purity, 90-95% purity, More than 95% purity.

By End-use Industry: Automotive (Touch screen display coating, UV car coatings, Edging extrusions, Hinges, Fitting Door Handles, Others), Packaging Industry [Flexible Packaging (Paperboard Packaging, Plastic Packaging, Polyethylene, Polypropylene, Polyethylene, Terephthalate, Aluminum Foil, Others), Rigid Packaging (Plastic Packaging, Metal Packaging, Paper & Paperboard Packaging, Glass Packaging, Others)], Electrical & Electronics, Printing Industry, Others.

By Application: Ultraviolet Cure Coatings, Ultraviolet Inkjet Inks, Ultraviolet Adhesives, Opto-Electronics, Others.

By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa).

• The global TCD alcohol DM market has great growth potential. A major factor in its market growth is the increased application of TCD alcohol DM in the packaging industry.

• The effect of COVID-19 on the end-user industries has affected the TCD alcohol DM market negatively. Also, increased concerns for the environment coupled with stringent government regulations have hurdled the market in the foreseen period.

• The global TCD alcohol DM market is highly consolidated in nature with few numbers’ players contributing around 90% of market revenue. Local players have undergone several key strategies such as product innovation, launch, mergers, acquisitions, partnerships to capture the better market and capture better is expected to propel the market and pose several opportunities in TCD alcohol DM market.

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The packaging industry held the largest share in the TCD alcohol DM market in 2023 and is expected to grow at a CAGR of 8.1% during the forecast period. The growing demand for flexible packaging has enhanced the demand for UV adhesives, thus driving the global TCD alcohol DM market. The TCD alcohol DM market is expected to rise sharply in the next few years owing to the increase in demand in various industry verticals. In addition, the dramatic increase in the number of school-going students in countries such as India and China have increased the market size as TCH alcohol DM is used in the production of graphite lead pencils.

To add on, the rapid growth in the gadget industry is also fueling the market growth. TCD alcohol is used to cover UV protection against radiation. The increasing level of performance of TCD alcohol DM products in vehicles, infrastructure, and media communication is expected to have a significant impact on the development of the TCD alcohol DM market. The aforementioned wide adaptability of products in the end-user segment is expected to drive the market in the forecasted period.

The UV cure coatings held a share of around 39% in the TCD alcohol DM market in 2023 and is expected to grow at a CAGR of 6.3% during the forecast period.

TCD alcohol DM is widely used in the manufacture of Dimethacrylates, which are then commercially used in the treatment of UV in end-use industries. The TCD-alcohol DM market is swelling owing to the use of UV treatment ink in food and beverage packaging. They are also used for ink, coatings, adhesives, and electronics. Players of electronics, packaging and others have started to integrate UV cure coatings in their services to have been competent among competitors. The growing demand for specialized clothing used in the electronics industry is a key driver in the growth of the market. The need for UV cure coatings for flexible packaging is expected to increase growth momentum. Another promising application is UV inkjet inks which may open up new opportunities in the electronics industry. Moreover, most of the developed economies have the extensive application of TCD-alcohol DM in UV inkjet inks in the packaging industry. Therefore, the great potential for growth in the global economy and developing packaging sector is an important trend that strengthens market revenue prospects over the coming years.

The Asia Pacific dominated the market in terms of volume and revenue by 2023. In terms of revenue, the Asia Pacific region held the largest share more than 35% in the TCD alcohol DM market in 2023, owing to the various players in the region.

Asia Pacific dominance in the TCD alcohol DM market is primarily due to advances in the electronics and packaging industry. Currently, people throughout the region are using packaged food and sanitation facilities such as detergents, detergents, hand washers, and essentials that protect the floor and toilets often. These changes are expected to create a new opportunity for the FMCG industry, having a major impact on the ink printing industry across the region. The printing and commercial components have greatly improved in countries like India, Japan, and China are expected to accelerate the TCD Alcohol DM market growth in the region. Also, currently, people throughout the region adopt the habit of eating packaged foods and use sanitation facilities such as detergents, detergents, hand washers, and essentials that protect the floor and toilets often. These key changes are expected to create new opportunities for the FMCG industry, having a major impact on ink printing across the region. In addition, a large number of school children in China and India will also encourage the sale of printed books, which will lead to the adoption of UV inkjet in the future. This demand is expected to fuel the production of parts leading to a higher market capitalization of the Asia pacific TCD alcohol DM market.

The increased need for TCD alcohol DM in the manufacturing sector

TCD alcohol DM provides enhanced flexibility in end products. It provides significant transparency in products and therefore, is used in the production of high-performance products in the manufacturing industry. Ideally, extensive research and development in the optoelectronics sector that demands specific TCD alcohol DM products are projected to be a positive trend in the market by creating growth opportunities in the coming years. The growing number of manufacturing plants across the globe has consumed TCD alcohol DM products over the years. For an instance, in 2023, the total number of automotive plants is estimated to be approximately 12,000. The increased number of manufacturing plants especially in automotive, electricals, and others has a significant impact on the global TCD alcohol DM market. The demand for TCD alcohol DM in the manufacturing sector especially in automotive and electronics has a significant influence on the market drive.

The great demand for flexible packaging, tin containers, commercial printing, and printing coupled with expanding flexible packaging industry is expected to support the market growth. The increased volume of flexible packaging depicts the consumption of TCD alcohol DM products. Also, the global demand for TCD alcohol DM will be driven by the growing use of UV adhesives in the flexible packaging industry and the growing popularity of environmentally friendly UV-treated ink over petrochemical-based products. This is a specific chemical compound, also known as tricyclodecanemethanol dimethyl ether, used primarily as a solvent or diluent in various applications like UV curable inks, adhesives, and coatings, a thriving market for labelled packaging due to increased investment 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 TCD alcohol DM market growth. Therefore, the growing demand for flexible packaging due to the growing transportation and e-commerce industries will also provide significant impetus to TCD alcohol consumption globally.

The TCD alcohol DM is one of the harmful chemicals that cause various ill effects both to humans and environments. Inhalation of chemicals causes severe lung irritation in humans. This has a negative impact on the availability of employees to manufacture the product. Also, exposure to the chemical causes eye itching, skin allergies, and consumption can be fatal in most cases. Therefore, stringent government policies have been implemented to regulate the proper manufacture and use of products at both manufacturer and consumer sides. For an instance, Regulation 1272/2008/EC and Classification, Labeling, and Packing (CLP) and its amendments in Europe incorporates the terms of separation and labelling rules agreed upon at the UN level, called Global Chemical Separation and Labeling Program (GHS) has introduced new classification methods, safety statements for the label while considering aspects that were part of previous EU legislation. A regulation made manufacturers to properly label the packages before releasing them to the market. It aims to protect employees, consumers and the environment by writing a label that indicates the potential dangers of a particular chemical. Manufacturers find challenging to adhere to the stringent regulations resulting in a low threat of new entrants ultimately leading to a market pitfall. However, TCD alcohol DM manufacturers adhere to strict environmental laws and have a competitive advantage over their substitutes due to the lack of VOCs in their products, making them environmentally friendly.

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the TCD alcohol DM market. TCD alcohol DM top 10 companies include:

1. Eastman Chemical Company

2. Indukern F&F

3. Merck kGaA

4. Mil-Spec Industries Corporation

5. ExxonMobil Chemical

6. Ernesto Ventos S.A.

7. Mil-Spec Industries Corporation

8. BASF SE

9. Synchem, Inc.

10. Oxea Chemicals

11. Tokyo Chemical Industry Co., Ltd and others

Acquisitions/Technology Launches

• In February 2022, OQ Chemicals has inaugurated its new production plant for TCD Alcohol DM at Oberhausen of Germany. This is expected to widen the product portfolio for the TCD alcohol DM segment.

• In February 2022- Röhm and OQ partnered and inaugurated its new production factory for methyl methacrylate (MMA) in the United States. The plant has a production potential of 250,000 tons of product per year.

• BASF acquiring parts of Solvay's polyamide business: This 2023 acquisition strengthens BASF's position in engineering plastics, which indirectly benefits their production of TCD Alcohol DM used in related applications like automotive coatings.

• Eastman Chemical acquiring AkzoNobel's coatings additives business: This 2023 deal expands Eastman's portfolio of performance additives, potentially enhancing their capabilities to develop improved formulations for TCD Alcohol DM applications