Global Cyclopentane Market is set to rise from its initial estimated value of USD 240.82 million in 2018 to an estimated value of USD 413.77 million by 2026, registering a CAGR of 7.00% in the forecast period of 2019-2026. This rise in market value can be attributed to the concerns for the environment and global warming awareness.
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Cyclopentane is highly flammable alicyclic hydrocarbon that is used in the manufacturing of synthetic resins and rubber adhesives and also transforming the phase of cellular structure of polyurethane insulating foam, used in commercial refrigerators. Cyclopentane is colorless in nature and has a similar odour as to that of petrol. Its main benefits and why its replacing other harmful chemicals in refrigerators is due to its zero ozone layer depletion and very low global warming potential.
Key Market Competitors: Global Cyclopentane Market
Few of the major competitors currently working in cyclopentane market are HCS Group GmbH, Dymatic Chemicals, Ineos, Liaoning Yufeng Chemical Co. Ltd., Maruzen Petrochemical, Chevron Phillips Chemical Company, YEOCHUN NCC CO. LTD., SOUTH HAMPTON RESOURCES, SK global chemical Co. Ltd, HPLA Group, LG Chem, Pure Chemicals, Haldia Petrochemicals Limited, and TRECORA RESOURCES, SINTECO S.R.L, EQX Material, Hunan precision equipment manufacturing Co. Ltd., EnC GLOBAL, and OCI COMPANY Ltd.
- Plans of phasing out the usage of hydro chlorofluorocarbon is expected to drive the market growth
- Higher performance standards and growing concerns regarding the environment is also expected to drive the market growth
- Requirements of high cost of start-up and installation costs is expected to restrain the market growth
- Side effects related to health associated with the increased amount of consumption of cyclopentane during the production process is also expected to restrain the market growth
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Segmentation: Global Cyclopentane Market
- By Function
o Blowing Agent & Refrigerant
o Solvent & Reagent
- By Application
- Residential Refrigerators
- Commercial Refrigerators
- Insulated Containers & Sippers
- Insulating Construction Materials
- Electrical & Electronics
- Personal Care Products
- Fuel & Fuel Additives
- By Geography
o North America
o South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
o Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
Key Developments in the Market:
- In May 2018, 4th International Conference on Chemical Materials and Processes in Bangkok, Thailand from May 23-24 May, 2018, discussing all the recent developments and advancements in the market
- In March 2018, Australian Institute of Refrigeration, Air Conditioning and Heating (AIRAH) organised a conference on the latest technologies introduced and a number of regulations introduced in the market.
Competitive Analysis: Global Cyclopentane Market
Global cyclopentane market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cyclopentane market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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