Cyclopentane Market Size & Growth Analysis to 2030

The global cyclopentane market size is estimated to register a significant CAGR of over 7% during the forecast period from 2022 to 2028. The increasing demand for the product in various applications as refrigerant is a major factor driving the market growth. it is majorly used in residential refrigerators, insulated containers, and insulating construction materials. Furthermore, the strict regulations prohibiting the use of hydrochlorofluorocarbons is further anticipated to boost the market over the forecast period. Moreover, technological advancement, growing financial conditions, and the growing number of applications in various industries are expected to fuel the market growth.

Market Drivers:

Increasing Demand for Foam Blowing Agents: Cyclopentane is widely used as a foam blowing agent in the production of polyurethane foams, including rigid foam insulation and spray foam. The growing demand for energy-efficient construction materials and the need for insulation in various industries, such as construction, automotive, and appliances, drive the demand for cyclopentane as a blowing agent.

Environmental Regulations and Shift towards Green Technologies: Cyclopentane is considered an environmentally friendly alternative to hydrofluorocarbons (HFCs) and other ozone-depleting substances used as blowing agents. The phase-out of HFCs under international environmental agreements, such as the Montreal Protocol, has led to the adoption of cyclopentane as a more sustainable option. Environmental regulations and sustainability initiatives drive the demand for cyclopentane in foam applications.

Growing Refrigeration and Cooling Applications: Cyclopentane is used as a refrigerant in various applications, including domestic refrigeration, commercial refrigeration, and air conditioning systems. The increasing demand for cooling and refrigeration solutions, driven by population growth, urbanization, and rising disposable incomes, fuels the demand for cyclopentane in these applications.

Expanding Polyurethane Industry: The polyurethane industry is a significant consumer of cyclopentane. Polyurethane foams are used in a wide range of applications, including insulation, furniture, mattresses, automotive seating, and packaging. The expanding polyurethane industry, driven by construction, automotive, and consumer goods sectors, creates a strong demand for cyclopentane as a raw material for foam production.

Energy Efficiency and Sustainability Initiatives: Energy efficiency and sustainability have become key drivers in various industries. Cyclopentane-based polyurethane foams offer excellent thermal insulation properties, contributing to energy savings and reducing carbon emissions. Governments, regulatory bodies, and consumers’ increasing focus on energy efficiency and sustainability drive the adoption of cyclopentane-based foams in insulation applications.

Technological Advancements: Continuous advancements in foam production technologies and formulations contribute to the growth of the cyclopentane market. These advancements improve the efficiency of cyclopentane-based foam production processes, enhance foam performance, and expand the range of applications where cyclopentane can be used as a blowing agent or refrigerant.

Growing Construction and Automotive Industries: The construction and automotive industries are major consumers of cyclopentane-based foam products. The growth of these industries, particularly in emerging economies, drives the demand for cyclopentane. Increasing construction activities, infrastructure development, and demand for lightweight and energy-efficient automotive components create opportunities for cyclopentane in foam applications.

Shifting Consumer Preferences: Changing consumer preferences towards energy-efficient and eco-friendly products drive the demand for cyclopentane-based foams. Consumers are becoming more aware of the environmental impact of products and are willing to choose sustainable alternatives. This shift in consumer preferences encourages the adoption of cyclopentane-based foams in various applications.

Market Snapshot:

Market Insights:

By function, the blowing agents & refrigerants segment is expected to dominate the global market by 2028

The global cyclopentane market is bifurcated into function, applications, and geography. On the basis of function, the market is further segmented into blowing agents & refrigerants, solvents & reagents, and others. The blowing agent & refrigerant segment dominated the global market in 2021 and expected to hold the largest revenue share of around 2/3 market share by the end of the analysis period. The widespread use and the growing demand for the product as a refrigerant in refrigerators is a major factor to drive the segment growth. Furthermore, the increasing demand for freezes, refrigerators, and cold storage in the healthcare & pharmaceuticals industry is further anticipated to fuel the segment growth over the forecast period.

By application, the refrigerants segment held the largest market share of the market in 2021

On the basis of application, the market is segmented into refrigerators, containers & sippers, personal care products, and others. The refrigerators segment dominated the global cyclopentane market in 2021 and is anticipated to hold the largest revenue share of around 2/3 market share by the end of the analysis period. The large-scale demand for residential and commercial refrigerators is one of the key factor to drive the segment growth. Furthermore, the widespread use of the product as refrigerant and insulation in refrigerators is further anticipated to propel the segment growth over the forecast period. On the flip side, the insulated container & shippers segment is accounted to register the fastest growth rate over the forecast period.

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The cyclopentane comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2022 to 2028. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The cyclopentane market research report presents the analysis of each segment from 2019 to 2028 considering 2021 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2022 to 2028.

Historical & Forecast Period

• 2019-20 – Historical Year
• 2021 – Base Year
• 2022-2028 – Forecast Period

Market Segmentation:

By Function:

• Function
• Blowing Agent & Refrigerant
• Solvent & reagent
• Others

By Application:

• Refrigerators
• Containers & sippers
• Personal care products
• Electrical & electronics
• Insulating construction material
• Fuel & fuel additives
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Regional Analysis:

By region, the Asia Pacific is expected to hold the largest market share by the end of the analysis period

On the basis of region, the Asia Pacific dominated the global cyclopentane market in 2021 and anticipated to maintain its dominance over the forecast period. The increasing application of the product in electrical and appliances and the rising regulation to eliminate hydrochlorofluorocarbons are some major factors driving the market growth in the region. Furthermore, the rising environmental concerns, technological advancement, and the availability of some prominent players are further anticipated to fuel the market growth in the Asia Pacific.

Geographically, the cyclopentane market report comprises dedicated sections centering on the regional market revenue and trends. The cyclopentane market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The cyclopentane market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Cyclopentane market estimates have also been provided for the historical years 2019 & 2020 along with forecasts for the period from 2022 – 2028.

Competitive Assessment:

Some of the major market players operating in the global cyclopentane market are HCS Group GmbH, Dymatic Chemicals, Inc., Chevron Phillips Chemical Company, SK geo centric Co. Ltd., and LG Chem. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• HCS Group GmbH
• Dymatic Chemicals, Inc.
• Chevron Phillips Chemical Company
• SK geo centric Co. Ltd.
• LG Chem
• Maruzen Petrochemical
• Liaoning Yufeng Chemical Co, Ltd
• Haldia Petrochemicals Limited
• YEOCHUN NCC CO. LTD
• SOUTH HAMPTON RESOURCES
• ZEON CORPORATION

Key Questions Answered by Cyclopentane Market Report

• Global cyclopentane market forecasts from 2022-2028
• Regional market forecasts from 2022-2028 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2022-2028 covering 15 major countries from the regions as mentioned above
• Cyclopentane submarket forecasts from 2022-2028 covering the market by function, application, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about the market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level cyclopentane markets from 2022-2028
• Competitive Landscape and market positioning of top 10 players operating in the market