It is estimated that the global 2,5-dimethyl-2,4-hexadiene market size will witness substantial growth over the next several years, with a positive application outlook in numerous industry verticals. Based on the applications, the industry is bifurcated into production of 9-chloroanthracene, insecticides, and others.
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The market share from other applications is projected to record a steady CAGR of around 1.3% through 2027. The consumption of 2,5-dimethyl-2,4-hexadiene in the production of 9-chloroanthracene is anticipated to increase at a 2.1% CAGR up to 2027. 9-chloroanthracene is an important organic compound which is extensively as a chlorinated anthracene in biochemical research.
It also finds wide use in the healthcare and pharmaceutical sectors as an intermediate. Ongoing research and development activities in the field of biochemistry, medicine, and pharmacy will certainly boost the demand for 9-chloroanthracene, fueling the consumption of 2,5-dimethyl-2,4-hexadiene in the future.
Meanwhile, the insecticides applications segment, which had captured more than 63% share of the 2,5-dimethyl-2,4-hexadiene market in 2020, is estimated to expand at a CAGR of 1.5% through 2027. Different types of insecticides are commonly used in agricultural, industrial, and public health applications, as well as household and commercial purposes such as control of termites and roaches.
The demand for insecticides in the agriculture sector is expected to rise considerably in the coming years, with the growing world population and the rising demand for food. These trends have created a need to boost agricultural productivity and crop yield. Increasing agricultural activities across the globe will undeniably fuel the demand for insecticides, driving 2,5-dimethyl-2,4-hexadiene consumption.
In terms of the regional outlook, North America had accounted for approximately 24% revenue share of the global 2,5-dimethyl-2,4-hexadiene industry in 2020 and is likely to expand at a 1.6% CAGR up to 2027. The European region had held a market share of around 21% in terms of revenue during 2020 and the regional market is set to experience notable growth in the forthcoming years.
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The consumption of 2,5-dimethyl-2,4-hexadiene in the Asia Pacific region is slated to grow at a CAGR of nearly 1.8% in the near future. Latin America had captured an industry share of more than 4% during 2019 and the regional market will witness growth at a CAGR of 1.2% up to 2027.
Meanwhile, the 2,5-dimethyl-2,4-hexadiene market in the Middle East and Africa will exhibit remarkable growth trends as well over the next few years.