1,5-Cyclooctadiene Market Research Report: By Application (Catalyst Ligands, Specialty Chemicals, Solvents, Elastomers, Chemical Intermediates), End Use (Agrochemical, Cosmetics, Food, Rubber, Construction) - Global Industry Analysis and Growth Forecast to 2030

Market Overview

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.

Usage of Catalyst Ligands for Chemical Production Leads to their Domination

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.

Due to Wide Chemical Use in Food Packaging Applications, Food Category Leads the Market

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.

Due to Rising Disposable Income, Asia-Pacific (APAC) Region held Largest Share

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.

Use of 1,5-Cyclooctadiene in Agrochemicals is a Key Trend

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.

Growing Demand for Processed Food is Driving Market

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.

Explore more about this report - Request free sample

Market Players Are Focused on Mergers and Acquisitions to Gain Competitive Edge

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.

• In May 2019, Biosynth International Inc. and Carbosynth Holdings Limited announced their merger as a major step in consolidating their position in the fine chemicals market. The new company benefited from the wider pool of skilled employees across the globe, who additionally offer a more-rapid response to customer inquiries and better technical support.

Key Players in 1,5-Cyclooctadiene Market Include:

Market Size Breakdown by Segments

The 1,5-cyclooctadiene market report offers comprehensive market segmentation analysis along with market estimation for the period 2015-2030.

Based on Application

• Catalyst Ligands
• Specialty Chemicals
• Solvents
• Elastomers
• Chemical Intermediates

Based on End Use

• Agrochemical
• Cosmetics
• Food
• Rubber
• Construction

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
• Asia-Pacific (APAC)
  • Japan
  • China
  • India
  • Australia
  • South Korea
• Latin America (LATAM)
  • Brazil
  • Mexico
• Middle East and Africa (MEA)
  • Saudi Arabia
  • South Africa