TCD Alcohol DM Market is expected to grow at a CAGR of more than 7% owing to the rising environmental issues, depleting natural resources, computerization and need for sophisticated electronic devices. Flexible packaging adopted by pharmaceutical and FMCG firms uses UV cure adhesives driven by a low VOC emission rate and high bond strength, which will further fuel this market. According to Global Market Insights, Inc., “TCD Alcohol DM Industry size is expected to exceed USD 20 million by 2024.”
TCD alcohol DM is a raw material used in polymer applications, like polyols, polyesters, and polyurethanes, which are commercially used to manufacture inks, paints, and resins. Powered by the production of UV cure inks, UV cure adhesives, and UV cure coatings, the TCD alcohol DM market is expected to flourish at a healthy rate in the years to come.
U.S. TCD Alcohol DM Market size, by application, 2013 - 2024 (USD Million)
Asia Pacific TCD Alcohol DM industry is predicted to be the most promising region over the coming seven years, owing to increasing awareness about the technological advancements in countries such as Japan, South Korea, India, and China. A growing juvenile population of over 600 million in India and China will require improved education facilities, driving the demand for UV inkjet inks.
Europe TCD alcohol DM market is anticipated to grow at a CAGR of over 6.5% over 2016-2024. The relatively slower growth rate can be attributed to the nature of the industry, though it is expected to rise in the next few years, driven by the high living standards of this region and a subsequent demand for optoelectronics.
The demand for optoelectronic products is likely to witness a massive growth, as they contain methacrylate, which has excellent wetting properties compared to other acrylates. Lower cost and an enhanced performance will increase the demand for these products.
The applications of the global TCD alcohol DM industry mainly include UV inkjet inks and UV cure coatings. The UV cure coatings application is slated to register a CAGR of more than 7% over 2016-2024, having contributed to more than 40% of the total global share in 2015. A rising demand for handy and ingenious electronic gadgets, automobiles, and other applications is likely to catapult the UV cure coatings sector to greater heights. Solvent-based UV cure coatings are preferred due to high quality and environment friendly characteristics.
UV inkjet inks registered a revenue of more than USD 5 million in 2015 and is expected to grow further, driven by the increasing awareness for environmental issues and its preference over petrochemical based inks.
Oxea Corporation remains the sole owner of the patent for this product and consequently, the only producer. The company has monopolized the market, having acquired patents from various patent offices. New companies wanting to foray into TCD alcohol DM industry will initially require to purchase the patent from Oxea.
Despite the emergence of digitization, global TCD alcohol DM market will have an upper hand owing to the exceptional characteristics of UV inkjet inks. The wide usage of UV cure coatings in the telecommunication and automotive sectors and the growing applications of UV cure adhesives for the global flexible packaging industry will remain a reliable outlet for TCD alcohol DM market.
Written By : Saipriya Iyer