Increasing preference of environment-friendly insulation materials, analytical & scientific applications of cyclopentane, and rising demand from automotive & construction industries are key factors contributing to a high CAGR of Cyclopentane market during the forecast period.
Market Size – USD 237.7 Million in 2018, Market Growth – CAGR of 6.7%, Market Trends – Product launches and mergers and acquisitions for production of Cyclopentane
According to the current analysis of Reports and Data, the global Cyclopentane market was valued at USD 237.7 Million in 2018 and is expected to reach USD 400.3 Million by year 2026, at a CAGR of 6.7%. Cyclopentane is an environmentally friendly and cost-effective insulation material which would be used dominantly for insulation after phasing out of insulation material containing Hydrofluorocarbons. Cyclopentane has zero OPD and a very low GWP, which reduces CO2 emissions drastically. It is a blowing agent for polyurethane foams that are used to insulate refrigerators and freezers and is used in the production of synthetic resins, rubber adhesives, and personal care products such as perfumes.
Key participants include Liaoning Yufeng Chemical Co. Ltd., Chevron Phillips Chemical Company, HCS Group GmbH, Dymatic Chemicals, Ineos, Yeochun NCC Co. Ltd., EQX Material, Hunan precision equipment manufacturing Co. Ltd., South Hampton Resources, Maruzen Petrochemical, SK global chemical Co. Ltd, Haldia Petrochemicals Limited, HPLA Group, LG Chem, Pure Chemicals, Trecora Resources, Sinteco S.R.L, EnC Global, and OCI Company Ltd.
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Greenhouse gases are released in large quantities due to human activities, and in view of the current level of emissions their atmospheric concentrations are expected to increase over the coming years. The major issue is with such gases used in refrigeration, which tend to be ozone-harming. Cyclopentane is considered a cost-effective solution to HCFC-141b, as it has the highest initial R-value, good peel adhesion, and good solubility with other raw materials. Many foam manufacturers opt for cyclopentane over HCFC-141b due to it being the cheaper alternative and zero Ozone Depletion Potential (ODP) and low Global Warming Potential (GWP). Compared to other fluorocarbons, cyclopentane is less potent as a global warming agent and does not break down into acids. These favorable properties are expected to drive the demand for cyclopentane in the application of blowing agents and refrigerants in the forecast period.
Increasing use of cyclopentane in refrigerators, growing demand for resins for the production of coating and adhesives, its wide application over a majority of industries and analytical & scientific applications such as manufacturing of reinforcement and composite materials of fiberglass and carbon fiber, are some of the key factors propelling market growth in the industry. However, health-related hazards caused due to prolonged exposure to products containing Cyclopentane and high cost of capital investment required, are the major hindrance for market growth during 2019-2026.
For the purpose of this report, Reports and Data has segmented the Cyclopentanes market on the basis of function, application, and region:
Function (Revenue, USD Million; Volume in Kilo Tons, 2016–2026)
Application (Revenue, USD Million; Volume in Kilo Tons, 2016–2026)
Regional Outlook (Revenue in USD Million; Volume in Kilo Tons, 2016–2026)
Further key findings from the report suggest
Table of Content:
Chapter 1. Market Synopsis 1.1. Market Definition 1.2. Research Scope & Premise 1.3. Methodology 1.4. Market Estimation Technique Chapter 2. Executive Summary 2.1. Summary Snapshot, 2018 – 2026 Chapter 3. Indicative Metrics 3.1. Increasing use of Cyclopentanes as insulating materials 3.2. Wide Analytical & scientific applications 3.3. Growing demand for resins for the production of coating and adhesives Chapter 4. Cyclopentanes Segmentation & Impact Analysis 4.1. Cyclopentanes Segmentation Analysis 4.2. Cyclopentanes Market Value Chain Analysis, 2016-2026 4.3. Regulatory framework 4.4. Cyclopentanes Market Impact Analysis 4.4.1. Market driver analysis 4.4.1.1. Phasing out the usage of hydro chlorofluorocarbon
Continued…
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