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Cyclopentane Market Analysis

  • Report ID: GMI8799
  • Published Date: Apr 2024
  • Report Format: PDF

Cyclopentane Market Analysis

Based on the type, the market is segmented into solvents and reagents, foam blowing agents. Foam blowing agent stand out in the cyclopentane industry with a market size of USD 188.4 million in 2023. The utilization of foam blowing agents in the cyclopentane market holds considerable importance, propelled by increasing demand for energy-efficient insulation materials across industries like appliances, automobiles, and construction.

Blowing agents demonstrate excellent insulating properties, enhancing thermal efficiency and decreasing energy consumption, especially those incorporating cyclopentane. The adoption of foam blowing agents is anticipated to surge significantly as regulatory focus shifts towards sustainability and environmental concerns. Furthermore, continuous research and development endeavours aimed at enhancing and environmentally friendly properties of these agents offer additional avenues for market expansion in the cyclopentane industry.

Cyclopentane Market Revenue Share, By Grade, (2023)

Based on grade, the market can be further segmented into <98%, and >98%. The >98% segment dominates the market with a market share of about 90%. The class of cyclopentane that has purity levels of more than 98% stands out in the market because of its superior quality and suitability for specific applications. Pharmaceuticals, electronics, and high-performance materials are among the industries that favor this high purity cyclopentane due to their stringent purity requirements. Because of their exceptional purity, procedures are guaranteed to be consistent and reliable, which improves the overall performance and quality of the product. In addition, the use of high purity cyclopentane guarantees compliance with regulatory standards in industries where safety and environmental concerns are given top priority, such food and medicines, thereby boosting customer and industry trust.

Based on application, the market can be further classified into commercial refrigerator, residential refrigerator, insulated containers, electrical and electronics, fuel additives, others. Cyclopentane demonstrates extensive versatility across various industries and uses. It serves as a highly effective refrigerant in commercial refrigeration, boasting exceptional cooling capabilities. Similarly, in residential refrigeration, cyclopentane ensures energy-efficient insulation, facilitating precise temperature management.

Additionally, it plays a vital role in insulated containers, preserving product freshness during storage and transit. In the electrical and electronics sectors, cyclopentane serves as a crucial blowing agent for insulation materials. Moreover, it finds application in gasoline additives, enhancing combustion efficiency. Its adaptability underscores its wide-ranging applications and market potential, allowing integration across diverse sectors like pharmaceuticals, construction, and automotive industries.

North America Cyclopentane Market Size, 2021- 2032 (USD Million)

North America had a significant position in the global cyclopentane market with a revenue size of USD 92.9 million in 2023. North American market is poised for significant expansion, driven by increasing demand for energy-efficient insulation materials in appliances, refrigeration, and construction sectors. Market growth is further fuelled by stringent environmental regulations favouring low-global warming potential refrigerants. The region's focus on sustainability and green initiatives facilitates cyclopentane adoption across various applications. Moreover, advancements in manufacturing processes and technology offer additional avenues for growth. In summary, the cyclopentane industry in North America is positioned for expansion amidst changing market dynamics and rising consumer preference for eco-friendly products.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for cyclopentane was valued at USD 310 million in 2023 and is anticipated to register over 6.9% CAGR between 2024 and 2032, owing to the growing need for energy-efficient foam insulation in the refrigeration and construction industries.

The foam blowing agent segment in the cyclopentane market accounted for USD 188.4 million in 2023, propelled by increasing demand for energy-efficient insulation materials across industries like appliances, automobiles, and construction.

North America market size reached USD 92.9 million in 2023 driven by stringent environmental regulations favouring low-global warming potential refrigerants.

Chevron Phillips Chemical Company LLC, DYMATIC Chemicals, Inc., Eastman Chemical Company, Haltermann Carless, Huntsman Corporation, INEOS, LG Chem, Merck KGaA, Prasol Chemicals Pvt. Ltd., SK Global Chemical Co., Ltd., TCI Chemicals, Zhejiang Weihua Chemical Co., Ltd., among others

Cyclopentane Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 12
  • Tables & Figures: 530
  • Countries covered: 21
  • Pages: 350
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