1,5-Cyclooctadiene Market Trends and Forecasts by 2027

1,5-Cyclooctadiene Market: Introduction

1,5-Cyclooctadiene, also known as COD, is an organic compound with the chemical formula C₈H₁₂. There exist several other organic compounds, in which 1,5-cyclooctadiene acts as a parent compound. 1,5-Cyclooctadiene is an isomer of a cycloalkane, which has an eight-membered ring and two double bonds.
1,5-Cyclooctadiene is available as colorless liquid with aromatic odor, especially doubly unsaturated cyclic hydrocarbon COD. It works as a ligand in organometallic chemistry.
1,5-Cyclooctadiene is prepared from the process of dimerization of butadiene. In this process, nickel is used as a catalyst, while vinyl cyclohexene is a co-product of the process.
1,5-Cyclooctadiene is widely used in applications such as specialty chemicals, solvents, catalyst ligands, elastomers, chemical intermediates for cosmetics, fragrances, flavors, and flame retardants

Key Drivers of Global 1,5-Cyclooctadiene Market

Increasing use of 1,5-cyclooctadiene in various cosmetic applications including skin care, hair care, personal care products and fragrances is expected to drive the global 1,5-cyclooctadiene market during the forecast period. 1,5-cyclooctadiene is a preferred choice for use in various skin care applications such as anti-aging creams, sunscreens, and baby lotions, as it keeps the skin moisturized and protects it from air pollution. Hence, with growth of the global cosmetics industry, the demand for 1,5-cyclooctadiene is also anticipated to increase during the forecast period.
Increasing use of 1,5-cyclooctadiene in the manufacture of elastomers in rubber, automotive, and aircraft industries is anticipated to drive the global 1,5-cyclooctadiene market in the next few years.

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Global 1,5-Cyclooctadiene Market, by Application

In terms of application, the global 1,5-cyclooctadiene market can be segmented into specialty chemicals, solvents, catalyst ligands, elastomers, chemical intermediates for cosmetics, fragrances, flavors, and flame retardants
The specialty chemicals segment is projected to account for a major share of the global 1,5-cyclooctadiene market by 2027. Growth of the segment is estimated to remain significant during the forecast period.
The elastomers segment is also expected to witness significant growth during the forecast period, owing to increasing demand for elastomers from the automotive sector. It is expected to expand at a significant CAGR during the forecast period.

Expanding at a significant rate, the cosmetics segment is expected to create significant incremental opportunity during the forecast period. Demand for other applications is expected to remain moderate to high across the globe from 2019 to 2027.

North America and Asia Pacific to Dominate Global 1,5-Cyclooctadiene Market

In terms of region, the global 1,5-cyclooctadiene market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Asia Pacific are expected to be key regions of the global 1,5-cyclooctadiene market between 2019 and 2027.

The 1,5-cyclooctadiene market in North America is expected to expand at a rapid rate during the forecast period. The region is expected to constitute a major share of the global market during the forecast period. The U.S. is one of the most technologically advanced countries across the globe. Demand for specialty chemicals and cosmetics, wherein 1,5-cyclooctadiene is used, is high in the country.
In terms of demand, Asia Pacific is expected to hold a significant share of the global market, during the forecast period, followed by Europe. Growth of consumer goods and automotive industries, particularly those in Asia Pacific, is projected to fuel the 1,5-cyclooctadiene market in these regions during the forecast period.

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Key Manufacturers Operating in Global Market

The global 1,5-cyclooctadiene market was highly fragmented in 2018. Key manufacturers operating in the global market are: