Cyclopentane Market To Reach USD 573 Million By 2032 Owing To Rising Demand For Sustainable Refrigerants | Report By SNS Insider

(MENAFN- GlobeNewsWire - Nasdaq) The cyclopentane market is growing due to rising environmental concerns, stricter regulations, and its increasing use in energy-efficient appliances and electric vehicles.

Austin, Jan. 22, 2025 (GLOBE NEWSWIRE) -- As per the latest research report of SNS Insider, “ The Cyclopentane Market Size was valued at USD 360 million in 2023 and is expected to reach USD 573 million by 2032, growing at a CAGR of 5.3% over the forecast period from 2024 to 2032. ”

Exploring the Expanding Role of Cyclopentane in Construction, Refrigeration, and Beyond

Cyclopentane, a saturated hydrocarbon compound, is increasingly utilized across various industries due to its unique properties. In the construction sector, it serves as a blowing agent in the production of polyurethane foam insulation, enhancing energy efficiency in buildings. Similarly, in refrigeration, cyclopentane is employed as a refrigerant, offering an environmentally friendly alternative to traditional substances. Its role as a solvent in chemical processes further underscores its versatility.

The cyclopentane market is experiencing notable growth, driven by several key factors. The global phase-out of hydrochlorofluorocarbons (HCFCs) has spurred the adoption of cyclopentane as a sustainable substitute in various applications. Additionally, the increasing demand for energy-efficient insulation materials in construction and refrigeration sectors is propelling market expansion. Technological advancements and ongoing research are also contributing to the development of new applications for cyclopentane, further boosting its market presence. However, the cyclopentane market faces certain challenges. The compound's flammability necessitates stringent safety measures during handling and storage, which can increase operational costs.

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Prominent Players:

• Dymatic Chemical (Cyclopentane, Cyclopentane Blowing Agent)
• Haldia Petrochemicals Limited (Cyclopentane, Cyclopentane Blowing Agent)
• HCS Group (Cyclopentane, Cyclopentane Blowing Agent)
• INEOS (Cyclopentane, Cyclopentane Blowing Agent)
• Jilin Beihua Fine Chemical Co., Ltd. (Cyclopentane, Cyclopentane Blowing Agent)
• Junyuan Petroleum Group (Cyclopentane, Cyclopentane Blowing Agent)
• Liaoning Yufeng Chemical Co., Ltd. (Cyclopentane, Cyclopentane Blowing Agent)
• Maruzen Petrochemical (Cyclopentane, Cyclopentane Blowing Agent)
• SK Global Chemical Co., Ltd. (Cyclopentane, Cyclopentane Blowing Agent)
• Zeon Corporation (Cyclopentane, Cyclopentane Blowing Agent)
• BASF SE (Cyclopentane, Cyclopentane Blowing Agent)
• Cyclics Corporation (Cyclopentane, Cyclopentane Blowing Agent)
• Dow Chemical Company (Cyclopentane, Cyclopentane Blowing Agent)
• Eastman Chemical Company (Cyclopentane, Cyclopentane Blowing Agent)
• Huntsman Corporation (Cyclopentane, Cyclopentane Blowing Agent)
• Kraton Corporation (Cyclopentane, Cyclopentane Blowing Agent)
• Mitsubishi Gas Chemical Company, Inc. (Cyclopentane, Cyclopentane Blowing Agent)
• Nippon Steel Chemical & Material Co., Ltd. (Cyclopentane, Cyclopentane Blowing Agent)
• Petrochemical Corporation of Singapore (Cyclopentane, Cyclopentane Blowing Agent)
• SABIC (Cyclopentane, Cyclopentane Blowing Agent)

Cyclopentane Market Report Scope:

Report Attributes	Details
Market Size in 2023	USD 360 Million
Market Size by 2032	USD 573 Million
CAGR	CAGR of 5.3% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Report Scope & Coverage	Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments	.By Function (Blowing agent & refrigerant, Solvent & reagent, Others) .By Application (Residential Refrigerator, Commercial Refrigerator, Insulated Containers And Sippers, Insulating Construction Material, Electrical & Electronics, Personal Care Products, Fuel & Fuel Additives, Others)
Key Drivers	.HCFC Phase-Out Paves the Way for Cyclopentane in Insulation Manufacturing.

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Cyclopentane, with its low global warming potential, is becoming a sustainable alternative to high-GWP blowing agents and refrigerants, helping industries reduce emissions and comply with environmental regulations.

Sustainability and environmental regulations have gained significant attention due to rising concerns about climate change. Industries are focusing on reducing their carbon footprint by adopting eco-friendly alternatives. Cyclopentane is emerging as a sustainable substitute for traditional blowing agents and refrigerants, which have high global warming potentials (GWP). With its low GWP, cyclopentane offers a more environmentally friendly option, making it increasingly popular in industries like appliances and automotive. This shift supports global efforts to mitigate climate change while maintaining industrial performance and safety standards, helping to meet stringent environmental regulations and reduce the impact of harmful emissions.

Market Analysis of Cyclopentane: Dominance in Blowing Agents, Refrigerants, and Residential Refrigerators in 2023

By Function: The blowing agent and refrigerant segment dominated with the market share over 65% in 2023. This dominance is mainly due to cyclopentane's increasing use as an eco-friendly blowing agent in rigid polyurethane foam production, essential for insulation in refrigerators, freezers, and construction materials. As industries shift from HFCs to cyclopentane to comply with environmental regulations and improve energy efficiency, demand rises. Furthermore, the automotive industry's push for electric vehicles has boosted cyclopentane's role as a refrigerant in thermal management systems. This highlights cyclopentane's importance in promoting sustainability across various sectors.

By Application: The residential refrigerator segment dominated with the market share over 40% in 2023. This dominance is driven by the increasing demand for energy-efficient and eco-friendly refrigeration solutions. Cyclopentane is widely used as a blowing agent in foam insulation for residential refrigerators due to its low global warming potential, especially when compared to traditional alternatives like HFCs. Leading appliance manufacturers have adopted cyclopentane to improve energy efficiency and comply with stringent environmental regulations.

Market Dynamics of Cyclopentane: North America's Dominance and Asia-Pacific's Rapid Growth in 2023

North America region dominated with the market share over 45% in 2023, driven by its strong manufacturing sector, particularly in appliances and automotive industries. The shift towards energy-efficient and eco-friendly solutions, spurred by stringent environmental regulations, is key. U.S. appliance manufacturers, for example, are adopting cyclopentane as a blowing agent for refrigerator insulation. The automotive industry's emphasis on electric vehicles and efficient thermal management systems has also boosted cyclopentane use. Regulatory support and manufacturing innovations position North America as a market leader in the growing demand for sustainable solutions in various sectors.

The Asia-Pacific region is the fastest-growing market for cyclopentane, projected to grow at a CAGR of around 8% in the coming years. This growth is fueled by rapid industrialization and urbanization, especially in China and India, where demand for insulation materials in construction and refrigeration is rising. As residential and commercial sectors expand, cyclopentane is increasingly used in rigid polyurethane foams for energy-efficient insulation.

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Recent Development

In December 2023: Haier, a prominent producer of cooling appliances, revealed its intention to use cyclopentane-based liquid refrigerant in large-capacity refrigerators for its upcoming models. This decision reflects the company's dedication to sustainability and its goal to strengthen its presence in European and Asian markets.

Table of Contents – Major Key Points

1. Introduction

• Market Definition
• Scope (Inclusion and Exclusions)
• Research Assumptions

2. Executive Summary

• Market Overview
• Regional Synopsis
• Competitive Summary

3. Research Methodology

• Top-Down Approach
• Bottom-up Approach
• Data Validation
• Primary Interviews

4. Market Dynamics Impact Analysis

• Market Driving Factors Analysis
• PESTLE Analysis
• Porter's Five Forces Model

5. Statistical Insights and Trends Reporting

• Production Capacity and Utilization, by Country, by Type, 2023
• Feedstock Prices, by Country, by Type, 2023
• Regulatory Impact, by Country, by Type, 2023
• Environmental Metrics: Emissions Data, Waste Management Practices, and Sustainability Initiatives, by Region
• Innovation and R&D, by Type, 2023

6. Competitive Landscape

• List of Major Companies, By Region
• Market Share Analysis, By Region
• Product Benchmarking
• Strategic Initiatives
• Technological Advancements
• Market Positioning and Branding

7. Cyclopentane Market Segmentation, by Function

8. Cyclopentane Market Segmentation, by Application

9. Regional Analysis

10. Regional Analysis

11. Use Cases and Best Practices

12. Conclusion

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