2,5-Dimethyl-2,4-Hexadiene Market projected to exceed $248.1 thousand by 2027, Says Global Market Insights Inc.

Emerging applications of 2,5-dimethyl-2,4-hexadiene in the healthcare industry as a biomarker in the identification of lung cancer are expected to offer new opportunities in the market during the forecast period, says this report.

Selbyville, Delaware, Jan. 25, 2021 (GLOBE NEWSWIRE) -- Based on Global Market Insights Inc., report, the global 2,5-Dimethyl-2,4-Hexadiene Market size was estimated at $208.7 thousand in 2020 and is slated to surpass $248.1 billion by 2027, registering a CAGR of 2.5% from 2021 to 2027. The rising adoption of 2,5-dimethyl-2,4-hexadiene in the pesticide industry will spur the overall industry growth from 2021 to 2027. The report provides a comprehensive analysis of the top winning strategies, wavering industry trends, drivers & opportunities, top investment avenues, competitive scenarios, market estimations & size.

The emerging need for food coupled with the growing population especially in the U.S. and Asia Pacific countries will have a positive impact on the pesticide industry, thereby, propelling the demand for 2,5-dimethyl-2,4-hexadiene. Increasing demand for low-toxic insecticides in the agricultural and industrial sectors is further anticipated to boost the product adoption. 2,5-dimethyl-2,4-hexadiene is a key intermediate in the pyrethrin synthesis along with several other insecticides. Additionally, the growing penetration of 2,5-dimethyl-2,4-hexadiene in research laboratories is also projected to propel the global 2,5-dimethyl-2,4-hexadiene market growth during the forecast period.

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The insecticides segment is expected to grow at a CAGR of over 1.5% and account for around 63% volume share in 2027. The growing consumption of insecticides due to surging crop production along with the rising global population is one of the major factors driving the 2,5-dimethyl-2,4-hexadiene market share. 2,5-Dimethyl-2,4-hexadiene is widely used as an intermediate in the production of pesticides. The rapidly growing population in the developing economies along with a fall in per capita arable lands is driving the demand for insecticides and pesticides for a good yield output.

Developing economies, especially Southeast Asia, are using large amounts of pesticides with a high growth rate. The World Health Organization (WHO) has reported that around 20% of the pesticides were used in developing economies from 2014 to 2016. Additionally, emerging applications of 2,5-dimethyl-2,4-hexadiene in the production of 9-chloroanthracene will further influence the overall 2,5-dimethyl-2,4-hexadiene market growth.  

In 2020, Asia Pacific dominated the global 2,5-dimethyl-2,4-hexadiene market and is projected to maintain its dominance during the forecast period. The growing usage of pesticides mainly in China, India, and Southeast Asian countries will boost the demand for 2,5-dimethyl-2,4-hexadiene. China, the U.S., Argentina, Thailand, Brazil, Italy, France, Canada, Japan, and India are the top ten pesticides consuming countries across the globe.

North America is expected to grow significantly owing to the emerging applications of the product in several biochemical research. Additionally, the rapid surge in the number of cancer patients will boost the adoption of the product as a biomarker in the detection of lung cancer.

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Major players, such as abcr GmbH, are focusing on expanding its distribution network and product portfolio to gain a higher the 2,5-dimethyl-2,4-hexadiene industry share. For instance, in August 2017, abcr GmbH announced the expansion of its activities in Brazil by establishing a new distribution channel through Scharlab Brasil Material para Laboratórios S/A, to serve and trade goods in the Brazilian market.

About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.

GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers.