Publishing: October 2021 | Report Code: CM12218 | Available Format: PDF
The global 1,5-cyclooctadiene market was valued at approximately $210.0 million in 2020, and it is projected to advance with a significant rate during the forecast period (2020–2030). Some of the major driving factors for the market are the rising adoption of different agricultural methods, which is propelling the usage of agrochemicals, such as fertilizers and pesticides.
During the COVID-19 pandemic, there has been a major disruption in the manufacturing sector owing to the stringent lockdown measures and closing of international borders, the latter of which led to the constrained supply of raw materials. Moreover, 1,5-cyclooctadiene is a chemical precursor to many products, including plastics, synthetic lubricants, nylon rubber, concrete chemicals, and cosmetics; thus, the closed factories led to the declining demand for the chemical. Therefore, due to the abovementioned factors, the market for 1,5-cyclooctadiene is being negatively impacted in the present scenario.
The catalyst ligands category accounted for the largest share in the 1,5-cyclooctadiene market in 2020, and it is expected to dominate the market in the upcoming years, based on application. This is attributed to the usage of catalyst ligands for producing chemicals such as Co(1,5-cyclooctadiene) (cyclooctenyl), dichloro(1,5‐cyclooctadiene) palladium, and cyclooctadiene iridium chloride dimer; polymers, and a range of petrochemicals.
The food category held the largest shares in the 1,5-cyclooctadiene market in the past years, and it is expected to retain the position during the forecast period. This is attributed to the wide use of 1,5-cyclooctadiene as an additive in applications, such as packaging boxes, cups, and plastic wrapping sheets.
Geographically, the APAC region held the largest share in the 1,5-cyclooctadiene market in the historical period (2015–2020), and it is expected to retain its position during the forecast period. This can be mainly attributed to the rising per capita income, as well as the increasing demand for home and personal care products in China, India, Thailand, and South Korea.
In order to boost the crop yield and health, 1,5-cyclooctadiene is commonly utilized in agrochemicals, such as fertilizers and insecticides. Moreover, increasing the usage of agrochemicals for raising the yield and safeguarding against crop losses is essential for organic sustainable agriculture. In addition, the increasing scale of agricultural operations, particularly in emerging economies, such as Brazil, China, India, Indonesia, South Africa, and South Korea, is predicted to drive the demand for 1,5-cyclooctadiene in order to meet the food needs of the booming population. Therefore, the usage of the chemical in agrochemicals is trending in the market for 1,5-cyclooctadiene.
1,5-cyclooctadiene is one of the major raw materials for polystyrene, which is used in the manufacturing of food packaging. The rising demand for packaged meals can be ascribed to the increased working population in both developed and developing countries. Additionally, the requirements of the rising population and increasing preference for online purchase of groceries and food products are resulting in the increasing demand for polystyrene packaging. This is, in turn, fueling the growth of the market for 1,5-cyclooctadiene.
|Base Year (2020) Market Size||~$210.0 Million|
|Report Coverage||Market Trends; Revenue Estimation and Forecast; Segmentation Analysis; Regional Breakdown; Companies’ Strategic Developments; Product Benchmarking; Company Profiling|
|Market Size by Segments||By Application; By End Use; By Region|
|Market Size of Geographies||China; India; Japan; South Korea; Australia; U.S.; Canada; Mexico; Brazil; Germany; U.K.; France; Spain; Italy; Saudi Arabia; South Africa|
|Secondary Sources and References (Partial List)||Agency for Toxic Substances & Disease Registry; American Chemical Society; American Chemistry Council; Greenpeace International; International Council of Chemical Associations; Japan Association for International Chemical Information; Pine Chemicals Association; United States Environmental Protection Agency; UN Comtrade Database|
Some of the key players operating in the 1,5-cyclooctadiene market are Merck KGaA, Tokyo Chemical Industry Co. Ltd., abcr GmbH, and Evonik Industries AG.
In recent years, players in the global 1,5-cyclooctadiene industry have been involved in mergers and acquisitions to expand their position globally.
The 1,5-cyclooctadiene market report offers comprehensive market segmentation analysis along with market estimation for the period 2015-2030.
Based on Application
Based on End Use
The global 1,5-cyclooctadiene market value stood at $210.0 million in 2020.
The COVID-19 pandemic hampered the progress of the 1,5-cyclooctadiene industry.
Asia-Pacific (APAC) dominated the 1,5-cyclooctadiene industry in 2020.
The market for 1,5-cyclooctadiene boomed in Asia-Pacific in 2020 due to the high disposable income of the people residing in the regional countries.
The usage of 1,5-cyclooctadiene in agrochemicals is currently trending in the market for 1,5-cyclooctadiene.
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