According to a new research report by Global Market Insights Inc., the 2,5-Dimethyl-2,4-Hexadiene Market size is forecast to exceed USD $248.1 thousand by 2027.
The demand for 2,5-dimethyl-2,4-hexadiene is increasing significantly in various applications including insecticides, biochemical research, and healthcare, among others. The increasing product consumption for the production of insecticides, which are widely used in agricultural fields and industrial areas, is further anticipated to boost the market size from 2021 - 2027.
2,5-dimethyl-2,4-hexadiene is increasingly being adopted by pesticide manufacturers due to the rising demand for low-toxic pesticides. 2,5-dimethyl-2,4-hexadiene is an important intermediate for the synthesis of high efficiency and low toxicity pyrethroid insecticides. Insecticides are widely used in the agriculture field owing to their effective and economic way to enhance the yield quality and quantity. Furthermore, increasing applications of 2,5-dimethyl-2,4-hexadiene in biochemical laboratories for various reactions are further likely to boost the industry growth.
Strong growth in the pesticide industry is expected to surge the demand for 2,5-dimethyl-2,4-hexadiene. Pesticides are chemicals, which are used to control weeds and insects that pose a threat to crop production. The application of pesticides is increasing rapidly due to their low price compared to other pest control measures such as tillage. Additionally, the rising need for food across the globe is anticipated to propel the usage of pesticides, thereby propelling the 2,5-dimethyl-2,4-hexadiene market demand in insecticide production. For instance, according to FAO, food demand is expected to increase by 50% to 90% by 2050.
Browse key industry insights spread across 125 pages with 92 market data tables & 24 figures & charts from the report, “2,5-Dimethyl-2,4-Hexadiene Market, By Application (Insecticides, Production of 9-Chloroanthracene), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, France, Germany, UK, Spain, Italy, Russia, China, India, Japan, Australia, Malaysia, South Korea, Brazil, Saudi Arabia, South Africa, UAE), Application Potential, Price Trends, Competitive Market Share & Forecast, 2020-2026” in detail along with the table of contents:
The insecticides segment will hold the largest market share of around 60% in 2027
In 2020, the insecticides segment dominated the global 2,5-dimethyl-2,4-hexadiene market share and is projected to grow at 1.5% CAGR between 2021 and 2027. The rising usage of insecticides in the agricultural and industrial sectors is further expected to boost the demand for 2,5-dimethyl-2,4-hexadiene. The growing demand for food across the globe, mainly from the Asia Pacific region, and rising awareness on the usage of low-toxic insecticides in arable lands are anticipated to drive product demand over the study timeframe. Additionally, the ongoing pandemic is expected to rise domestic hygiene trends amongst people, further rising the demand for insecticides across the globe.
The production of 9-chloroanthracene is expected to showcase the highest growth rate owing to the rising usage of 9-chloroanthracene as an intermediate in several pharmaceutical applications. 9-Chloroanthracene also shows good anticancer activity. In 2018, the in-vitro anticancer activity of 9-chloroanthracene was screened against three human cancer cell lines: MCF-7 (Breast), HepG (Liver), and IMR-32 (neuroblastoma) using the MTT assay. Therefore, these trends are likely to drive the global 2,5-dimethyl-2,4-hexadiene market growth.
Asia Pacific to exhibit steady growth during the forecast period
Asia Pacific dominated the global market and accounted for around 46% volume share in terms of revenue in 2020 and is projected to maintain its dominance during the forecast period. The Asia Pacific is majorly driven due to the large population and high economic rate of the region compared to other regions. The rising population, especially in China and India is projected to increase the need for crops which, in turn, is likely to boost pesticide demand, thereby, propelling the regional industry growth. Furthermore, the North America 2,5-dimethyl-2,4-hexadiene market is projected to grow at the highest CAGR due to the rising adoption of 2,5-dimethyl-2,4-hexadiene in the agricultural and pharmaceutical sectors. Additionally, a rising need for biomarkers for cancer prediction is further projected to boost the adoption of 2,5-dimethyl-2,4-hexadiene.
Some of the top players in the 2,5-dimethyl-2,4-hexadiene industry include Sigma-Aldrich Co., Tokyo Chemical Industry Co., Ltd. (TCI), Santa Cruz Biotechnology, Inc., Manus Aktteva Biopharma LLP, Manchester Organics Ltd., Sichuan Zhongbang Pharmaceutical Co., Ltd., Ningbo Inno Pharmchem Co., Ltd., BeanTown Chemical, Linyi Fude Chemical Co., Ltd., Matrix Scientific, abcr GmbH, Vesino Industrial Co., Ltd., Hairui Chemical, Toronto Research Chemicals, and Alfa Aesar, among others. The major industry players focus on enhancing their production capacities and regional expansion. Additionally, manufacturers are also majorly investing in research & development activities to maintain their position in the market.