Cyclopentane Market by Function (Blowing Agent & Refrigerant, Solvent & Reagent), Application (Residential Refrigerator, Commercial Refrigerator, Insulated containers and sippers, and others), and Region - Global Forecasts to 2023
The cyclopentane market is projected to register a CAGR of 6.7% from 2018 to 2023
The market size of cyclopentane is estimated to be USD 242.4 million in 2018 and is projected to reach USD 335.7 million by 2023, at a CAGR of 6.7%. Reduction in the use of fluorinated blowing agent & refrigerant plays an important role in driving the market.
Blowing agent & refrigerant is expected to register the fastest growth during the forecast period
Cyclopentane as a blowing agent is one of the cost-effective solutions after the phase-out of HCFC- 141b. Cyclopentane offers the highest initial R-value, good peel adhesion, and good solubility/compatibility with existing raw materials. Many foam manufacturers have chosen cyclopentane to replace HCFC-141b for reduced cost and low ODP and GWP. This is expected to drive its demand as a blowing agent & refrigerant during the forecast period.
Residential refrigerants was the largest application of cyclopentane in 2017
Residential refrigerants are the largest consumer of cyclopentane, as it is widely used as a blowing agent & refrigerant in this application. The planned phase-out of fluorinated blowing agents is promoting the use of cyclopentane for this application.
The cyclopentane market in APAC is projected to be the largest during the forecast period
APAC was the fastest-growing market for cyclopentane in 2017. The countries in APAC included in this study are China, Japan, India, South Korea, and others. The demand for cyclopentane in the region is expected to increase owing to extensive use in the refrigerants and insulating construction materials applications. This demand is highly dependent on the economic growth of the region. The rapid economic development is facilitating the growth of the building & construction industry in APAC, which is further propelling the demand for cyclopentane in the region.
Breakdown of profiles of primary interviews for the cyclopentane market report
By Company Type – Tier 1 – 50%, Tier 2 –33%, and Tier 3 – 17%
By Designation – C Level – 17%, Director Level – 33%, and Others – 50%
By Region – APAC – 50%, Europe – 25%, and North America – 25%
Some key companies profiled in this report are HCS Group (Germany), Jilin Beihua Fine Chemical Co., Ltd. (China), DYMATIC Chemicals Inc. (UK), INEOS (UK), Liaoning Yufeng Chemical Co., Ltd. (China), Maruzen Petrochemical (Japan), Chevron Phillips Chemical Company LLC (US), YEOCHUN NCC Co., Ltd. (South Korea), South Hampton Resources (US), and SK Global Chemical Co., Ltd. (South Korea).
The report covers the cyclopentane market across different applications and regions. It aims at estimating the market size and future growth potential of the cyclopentane market across different segments. The report also includes an in-depth competitive analysis of the key market players along with their profiles, recent developments, and key growth strategies.
Key benefits of buying the report
From an insight perspective, this research report focuses on various levels of analyses, which include industry analysis (industry trends) and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments, high-growth regions, and drivers, restraints, opportunities, and challenges of the cyclopentane market.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on cyclopentane offered by the top players in the market.
Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and expansions in the cyclopentane market.
Market Development: Comprehensive information about the lucrative and emerging markets. The report analyzes the markets for cyclopentane across different regions.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the cyclopentane market.
Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the leading players in the cyclopentane market.