The global 1,5 cyclooctadiene market is garnering momentum and it is poised to experience exponential growth in the near future, with increasing product consumption across numerous end-use sectors. 1,5-Cyclooctadiene, also known as cycloocta-1,5-diene or COD, is a useful precursor for other organic compounds. It is widely used as a catalyst ligand in the field of organometallic chemistry. The compound can be prepared by the dimerization of butadiene in the presence of nickel as a catalyst, producing vinylcyclohexene as a by-product.
1,5-Cyclooctadiene is also extensively used in the commercial production of nylon, among a wide range of polymers and organic compounds. It is generally produced from petroleum distillation fractions and finds use as an intermediate in the manufacturing or numerous plastic compounds. Other notable applications of the compound include synthetic lubricants and specialty chemicals.
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In terms of the end-users, the market is segmented into agrochemicals, food, cosmetics, rubber, construction, and others. The share of others segment is projected to record a CAGR of nearly 5.1% over 2020-2026.
The global 1,5 cyclooctadiene industry share from the cosmetics sector is expected to expand at a CAGR of around 5.8% through 2026. The growth of the cosmetics sectors in recent years has been driven by the increased consumer preference towards premium quality beauty and personal care products. Cosmetic companies are aiming to develop affordable products using new innovative ingredients to help meet the growing demand and stay competitive in the market.
Meanwhile, the consumption of 1,5 cyclooctadiene across the construction sector is likely to increase at a CAGR of 4.1% up to 2026. Factors such as an increasing population and rapid urbanization are fueling the expansion of the construction sector. Many parts of the world, particularly the developing countries, are witnessing a notable rise in residential and commercial infrastructure development. The need for sustainable and reliable materials in construction will positively impact the market trends in the near future.
1,5 cyclooctadiene finds applications in specialty chemicals, elastomers, catalyst ligands, chemical intermediates, and others. The other applications share in the market will witness a steady 4.6% CAGR in the forthcoming years. The global 1,5 cyclooctadiene market size from catalyst ligands application is set to grow at a CAGR of about 4.6% through 2026 as well.
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In terms of the regional landscape, the Latin America cyclooctadiene industry size is anticipated to record a healthy CAGR of approximately 4.6% over the same forecast period. The regional growth can be associated with rapid growth of numerous end-use verticals in recent years. Meanwhile, the 1,5 cyclooctadiene market in the Middle East and Africa will expand at a CAGR of 3.9% over 2020-2026.