(MENAFN- Ameliorate Digital Consultancy)
The global cyclopentane market is estimated to be valued at US$ 448.7 million in 2023 and it is anticipated to grow at a CAGR of 7.0% to reach US$ 882.6 million by the end of 2033.
Cyclopentane is included in the cycloalkane class and is widely used in the manufacturing of resins, rubber adhesives, and synthetic rubber. It is also used as a blowing agent for polyurethane insulating foam. Since cyclopentane does not contain any hydro-fluorocarbon (HFCs), it is also used to insulate refrigerators as well as freezers.
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Opportunity: Increasing use of blowing agents in the construction, automotive, and appliance industries
The use of blowing agents has been increasing in construction, automotive, and appliance end-use industries. This is majorly due to the properties of the blowing agent such as insulation, physical integration which enable it to be used to formulate the polyurethane foam. The demand for cyclopentane has also increased in the appliance industry in Europe and Asia. The growth of these industries is expected to drive the demand for blowing agents and subsequently the use of cyclopentane is expected to increase.
Challenge: Flammability of cyclopentane
Cyclopentane is a flammable chemical, and hence this adds various risks while using it as a blowing agent. The explosion limit of cyclopentane is 1.1–8.7% by volume in air. Hence, the user has to follow stringent regulations while using this product. These are some of the precautions that need to be taken while using or storing cyclopentane. Hence, its flammability poses as a challenge to the users and the manufacturers.
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Market Titans Key Strategies
Leading market players in the cyclopentane market are continuously focusing on long-term supply contracts and collaborations with end-use industries. Companies are also investing in research and development to discover new areas of application for cyclopentane.
Key Companies Profiled:
Chevron Phillips Chemical Company LLC Dymatic Chemicals, Inc. Beijing Eastern Acrylic Chemical Technology Co., Ltd LG Chem, Ltd. Yeochun NCC Co. Ltd. Trecora Resources
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Segmentation of Cyclopentane Industry Research
By Product Type : Foam-Blowing Agent Solvent and Reagents
By Grade : By Application : Residential Refrigerators Insulated Containers and Sippers Insulating Construction Material Analytical and Scientific Application Others
By Region : North America Latin America Europe East Asia South Asia & Oceania MEA
Questionnaire answered in the report include:
How the industry has grown? What is the present and future outlook on the basis of region? What are the challenges and opportunities? Why the consumption in region? In which year segment is expected to overtake segment?
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