Albany, NY -- (SBWIRE) -- 01/02/2018 -- Transparency Market Research has published a new market report titled "TCD Alcohol DM Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023." According to the report, the global TCD Alcohol DM market was valued at US$10.9 mn in 2014 and is anticipated to reach US$19.9 mn by 2023, expanding at a CAGR of 7.0% between 2015 and 2023.
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Tricyclodecanedimethanol Alcohol (TCD Alcohol DM) is a colorless, highly viscous substance at room temperature with a characteristic odor. It is sparingly soluble in aliphatic, aromatic hydrocarbons, and water. TCD Alcohol DM is miscible with the usual polar organic solvents; however, one of the primary isomers may tend to crystallize during the storage of such mixtures. TCD Alcohol DM is used in the production of dimethacrylates that are used in UV curing applications such as inks, adhesives, coatings, and electronics.
Rising demand for UV cured adhesives in flexible packaging is expected to drive the global TCD Alcohol DM market during the forecast period. Additionally, increasing demand for UV cured inks is expected to fuel the market growth in the near future. Proprietary technology is a major restraint for the global TCD Alcohol DM market. Furthermore, research and development in the optoelectronics sector is expected to open new avenues for the global TCD Alcohol DM market in the near future.
The UV cure coatings segment dominated the global TCD Alcohol DM market in 2014 in terms of volume, accounting for nearly 45% share. Significant growth in the UV cure coatings market owing to the proliferating electronics industry is expected to drive demand for TCD Alcohol DM during the forecast period.
In terms of volume, Asia Pacific dominated the global TCD Alcohol DM market, accounting for more than 35% in 2014. Asia Pacific is expected to be the fastest-growing segment during the forecast period owing to increasing environmental awareness coupled with growth in the electronics industry in China, Japan, and South Korea. Rising demand in industrial coating in Europe is expected to drive the TCD Alcohol DM market in this region in the near future. North America is expected to exhibit above-average growth in the TCD Alcohol DM market during the forecast period owing to rising growth in the UV inkjet inks industry in this region.
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Oxea GmbH, a global supplier of solvents, polyols, and oxo derivatives such as carboxylic acids, olefin derivative, and alkylamines, manufactures TCD Alcohol DM. It is the sole producer of TCD Alcohol DM in the market. The technology of producing TCD Alcohol DM is patented by this company. Dynamics of the TCD Alcohol DM market are expected to change once the patent expires by 2023. There is negligible threat of backward integration from buyers due to monopolistic nature of the market.