(MENAFN- Ameliorate Digital Consultancy)
The global sales of 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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Increasing Need for Freezers & Refrigerants to Increase Cyclopentane Consumption
The largest application for cyclopentane is in refrigerators. It is mostly utilised in insulation and refrigerant because it prolongs the shelf life of products that are sensitive to temperature. Growth in the cyclopentane market is enabled by rising demand for frozen goods and drinks, which is projected to raise demand for refrigerators and freezers as well.
Also, the healthcare sector is predicted to boost the market for cyclopentane in the upcoming years due to the widespread usage of freezers in healthcare infrastructures for the storage of medications. This is anticipated to increase demand for different types of freezers, which would then propel the expansion of the cyclopentane market.
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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
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
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Key Questions Covered in the Cyclopentane Market Report
What is the projected value of the Cyclopentane factors Industry in 2022? At what rate will the global Cyclopentane factors market size grow until 2033? Which are the factors hampering the growth of Cyclopentane factors? Which region is expected to lead in the global Cyclopentane factors market By 2033? Which are the factors driving the Cyclopentane factors Industry during the forecast period? What is the expected market value of the Cyclopentane factors market during the forecast period?
Regional Analysis For Cyclopentane Market:
APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka) Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania) North America (USA, Canada and Mexico) South America (Brazil, Chile, Argentina, Rest of South America) MEA (Saudi Arabia, United Arab Emirates, South Africa)
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