Albany, NY -- (SBWire) -- 12/12/2018 --Currently the Tricyclodecanedimethanol Alcohol (TCD alcohol DM) market is dominate by a single player Oxea GmbH, who is the single manufacturer of TCD alcohol DM. this is because the company got the product patented and the expiry date of the patent is in 2023. As soon as the patent will be released, the market dynamics are likely to change thus changing the growth of the market. The patent expiry is projected to increase backward integration in the market because of its monopolistic nature. However, this threat could be low in the market. As of now, Oxea GmbH is acting as a global supplier of polyols, solvents, and oxo derivatives such as olefin derivative, carboxylic acids, alkylamines, and manufacturers of TCD alcohol DM.

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According to Transparency Market Reserach, the global TCD alcohol DM market is projected to touch US$19.9 mn by the end of forecast period. In 2014, the market valuation was US$10.9 mn. During the forecast period between 2015 and 2023, the market is likely to expand at 7% CAGR.

In 2014, the demand for the UV cure coating was 45% share by volume as compared to UV inkjets, optoelectronics, and UV adhesives. UV cure coatings are massively used in electronics industry. Thus, rapid growth in electronics industry is likely to boost the demand for this segment, which will further strengthen the demand in the TCD alcohol DM market. In term geography, Asia Pacific held 35% market share in 2014. South Korea, China, and Japan's electronics industry has grown significantly that has also benefited the market growth. Moreover, rising environmental concerns has increased the demand for TCD alcohol DM in Asia Pacific.

Extensive Demand for Flexible Packaging to Indirectly Benefit TCD Alcohol DM Market

The use of TCD alcohol DM helps in providing astonishing transparency to products and provides improved elasticity to final products. Due to these features, TCD alcohol DM is used in manufacturing high performance surface coatings. Increasing demand for corrugated containers, publication, flexible packaging, and commercial printing are also anticipated to fuel the growth in this market. The rapid growth in e-commerce and logistics has also pushed the need for flexible packaging, which will further benefit the TCD alcohol DM market. Moreover, TCD alcohol DM is sparingly soluble in water, aromatic hydrocarbons, and aliphatic that has added in driving this market's growth. Furthermore, rising product employment in manufacturing UV cured adhesives that are largely used in the packaging industry is likely to push the TCD alcohol DM market.

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Proprietary Technology Created Monopolistic Nature Hampering Market Competition

Despite the growing demand for UV curved adhesives and developing TCD alcohol DM market, few challenges are still standing and obstructing the market to grow at its full potential. One of the key restraining factor is proprietary technology that has restricted the entry of new players hampering market competition. Another restrain is the chances of crystallization of primary isomers while storing these mixtures. On the other hand, growing focus on research and development in the optoelectronics sector is projected to open new growth avenues for the TCD alcohol DM market.

The information presented in this review is based on a TMR report, titled "TCD Alcohol DM Market (Application - UV Cure Coatings, UV Inkjet Inks, Optoelectronics, and UV Adhesives) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023."