India Cyclopentane Market: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, End Use, Application, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030
Cyclopentane demand in India grew at a CAGR of 4% during 2015-2020 and is projected to witness robust growth through 2030. Increasing use of Cyclopentane as a blowing agent in Polyurethane foams used in refrigerators is likely to increase the Cyclopentane consumption in India. India is one of the 24 countries signing the ‘Montreal Protocol’ on substances that deplete the Ozone Layer and is proactively working to completely phase out harmful HCFCs by 2020. This is likely to supplement the demand for Cyclopentane across the globe. India became the first country in the world to launch comprehensive India Cooling Action Plan (ICAP) in March 2019, which will work towards addressing the cooling requirement across residential and commercial buildings, cold-chain, refrigeration, transport and industrial sectors. As of 2019, India’s cooling demand stands at 120 Million TR (where TR stands for Tonnage of Refrigeration). However, ICAP aims to reduce India’s total cooling demand by 20 to 25 per cent by 2037.
The refrigeration and air-conditioning (RAC) equipment consume a significant proportion of the HCFCs in the country. Indian Ozone Cell implemented HPMP Stage-I which led to the conversion of 15 large enterprises indulged in foam manufacturing sector to switch from HCFC-141b to Non-Ozone Depletion Scheme, Cyclopentane based technologies till FY 2016.Currently ,the Ministry of Environment, Forest and Climate Change (MoEFCC) has implemented HPMP Stage-II which aims to phase-out HCFCs from the country completely by 2030. The ministry is also working towards funding the domestic foam industries to promote the replacement of ozone depleting Hydrochlorofluorocarbons (HCFC) with Cyclopentane and this is projected to encourage the Indian industrialists to enter Cyclopentane market during the next five years. Increasing Cyclopentane demand from residential refrigerants sector is likely to propel the country’s Cyclopentane market. Additionally, increasing demand for refrigeration and freezers from the food and beverage industry, and the construction industry is likely to contribute towards growth in demand for Cyclopentane in the country.
Years Considered for this Report:
Historical Years: 2015 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2030
Objective of the Study:
Currently, Haldia Petrochemicals Limited is the only manufacturer of Cyclopentane in the country and is planning to expand its production capacity in the coming years with rest of the country’s demand being met through imports. More players are expected to enter this market in the years to come taking into consideration the product’s increasing demand.
As of 2019, imports of Cyclopentane increased by about 3 per cent on Y-O-Y basis and Cyclopentane prices were assessed at INR XXX per MT on bulk contract basis.
To extract data for India Cyclopentane market, primary research surveys were conducted with Cyclopentane manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for India Cyclopentane market over the coming years.
ChemAnalyst calculated Cyclopentane demand in India by analyzing the historical data and demand forecast was carried out considering crude oil prices. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Cyclopentane manufacturers, distributors and policy makers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
In this report, the India Cyclopentane market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, by End Use- Construction, Electrical, Electronics, Additives & Others
Market, by Application- Refrigerators, Commercial Refrigerators, Insulated Containers & Sippers, Insulating Construction Materials, Personal Care Products, Fuel & Fuel Additives and Others
Market, by Sales Channel- Direct/Institutional Sales, Retail Sales, Other Channel Sales
Market, by Region- North, West, East and South
Competition Outlook: Outlook of leading 10 players based on product portfolio, market pricing, average selling price, sales footprint, etc.
Company Profiles: Detailed analysis of the major companies operating in the India Cyclopentane market.
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
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