Cyclopentane Market Size Worth USD 363.88 million By 2032

The global cyclopentane market size was USD 194.63 million in 2022 and is expected to reach USD 363.88 million in 2032, and register a revenue CAGR of 7.2% during the forecast period. Market revenue growth is primarily being driven by rising demand for ecologically friendly Blowing Agents and Refrigerants across a variety of end-use sectors, including building & construction, appliances, automotive, and insulation.

Use of environment-friendly products is the major factor driving demand for Cyclopentane (HCFCs) due to strict government laws against the use of Hydrofluorocarbons (HFCs) and hydrochlorofluorocarbons. In Polyurethane foam insulation, refrigerators, freezers, and other appliances, cyclopentane is frequently used as a blowing agent and refrigerant. It is a Hydrocarbon that is a perfect replacement for HFCs and HCFCs since it has little Global Warming Potential (GWP) and zero Ozone Depletion Potential (ODP).

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.

Request for Sample @https://www.reportsanddata.com/download-free-sample/2222

Further key findings from the report suggest

  • The cyclopentane market is rising at a CAGR of 3% in Asia Pacific, followed by Europe and North America, with 6.5% and 6.3% CAGR, respectively. Increasing use of environment-friendly insulation materials worldwide is the key factor in accelerating cyclopentane market growth during forecast period across all regions.
  • As of 2018, the Residential refrigerant segment is dominating cyclopentane, which holds 33.7% of the global market. Asia Pacific regional market is the chief revenue-generating source for this product segment, followed by Europe and North American regions
  • Insulating construction materials is expected to be the fastest-growing market segment during the forecast period 2019-2026 with a CAGR of 7.4%.
  • The solvent and Reagents segment was valued at USD 81.1 Million in 2018 and is expected to reach USD 134.6 Million by 2026.
  • Blowing agent and Refrigerant is the dominant function segment of the global Cyclopentane It is further anticipated to register the fastest growth with a CAGR of 7.1% during the forecast period.
  • The Asia Pacific is expected to account for 34.7% of the global Cyclopentane market. Developing nations such as China and India are likely to witness high growth
  • Associated side effects related to Cyclopentanes and lack of awareness about pruritus is likely to hinder the market growth during the forecast period.
  • North America is the third-largest region in terms of revenue generation. It accounts for 24.3% of the market share.
  • 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.

Request a customization of the report: https://www.reportsanddata.com/request-customization-form/2222

Thank you for reading global report. We also offer customized research reports as per client requirement. Kindly contact us for to know more about the feature and our team will provide you a well-curated report in the stipulated time. 

Explore Trending Reports:

Bitumen Membranes Market -https://bhagyashrishewale.blogspot.com/2023/06/bitumen-membranes-market-to-exceed.html

Biocide Market-https://bhagyashrishewale.blogspot.com/2023/06/biocide-market-size-worth-usd-1431.html

Aroma Chemicals Market-https://bhagyashrishewale.blogspot.com/2023/06/aroma-chemicals-market-size-worth-usd.html

Metal and Ceramic Injection Molding Market-https://bhagyashrishewale.blogspot.com/2023/06/metal-and-ceramic-injection-molding.html

NanoSilica Market -https://bhagyashrishewale.blogspot.com/2023/06/nanosilica-market-to-exceed-valuation.html

About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a nconcrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact Us:

John W

(Head of Business Development)

Reports and Data | Web: www.reportsanddata.com

Direct Line: +1-212-710-1370

E-mail: sales@reportsanddata.com

Blogs | Press Release | Industry News | Our competencies

Browse More Upcoming Reports @ https://www.reportsanddata.com/upcoming-reports

Browse More Latest Reports @ https://www.reportsanddata.com/report

Browse Latest Blogs: https://www.reportsanddata.com/blogs

Browse Latest Press Release: https://www.reportsanddata.com/press-release

Comments

Post a Comment

Popular posts from this blog

Logistics Automation Market Size Worth USD 211.38 Billion 2032 | CAGR of 14%

The global logistics automation market size was USD 64 Billion in 2022 and is expected to reach USD 211.38 Billion in 2032, and register a rapid revenue CAGR of 14 % during the forecast period. Rapid expansion in the e-commerce business and technological breakthroughs, such as Internet of Things (IoT), Artificial Intelligence (AI), and robotics are major factors driving market revenue growth. In the contemporary corporate environment, requirement for effective and timely delivery of goods has increased. Businesses are seeking for ways to optimize their logistics operations to boost production and cut expenses. Logistics automation aids businesses in achieving these objectives, by automating various processes, including order processing, inventory management, and transportation management. Get a sample copy of the Logistics Automation Market report, visit: https://www.reportsanddata.com/sample-enquiry-form/1600 Further key findings from the report suggest Based on end-u...
Read more

Bitumen Membranes Market to Exceed Valuation of USD 3.74 Billion by 2027

According to a recent report by Reports and Data, the global bitumen membranes market is projected to reach USD 3.74 billion by 2027, with a compound annual growth rate (CAGR) of 4.8%. Bitumen membranes are designed to provide waterproofing and coverage for industrial and residential buildings. These membranes consist of highly viscous, elastic, and waterproof organic liquids. They are commonly used as roofing systems to prevent leaks and facilitate water drainage on nearly flat or level roofs. Bitumen membranes have various applications, including humidification, waterproofing, binding, rust-proofing, joint filling, and crack formation. The demand for these products is expected to steadily rise in road expansion, infrastructure rebuilding, and the construction of buildings and bridges. The growing demand from the building sector, driven by environmental regulations and the affordability of roofing systems, has contributed to the increased production of polymer-modified bitumen (PMB)....
Read more

Industrial Tubes Market Size Worth USD 1,406.92 Billion By 2032

  Market Overview The global market for industrial tubes had a value of USD 550 billion in 2022 and is projected to reach USD 1,406.92 billion by 2032, with a rapid compound annual growth rate (CAGR) of 11% during the forecast period. The growth of the market is driven by increasing demand for industrial tubes across various end-use sectors such as oil & gas, construction, and automotive. Manufacturers are focusing on developing new and innovative products to meet the rising demand for environmentally-friendly and energy-efficient industrial tubes. One of the prominent end-use markets for industrial tubes is the oil & gas sector. The demand for pipelines due to the increasing demand for oil & gas leads to a higher price for industrial tubes. The construction industry is another major consumer of industrial tubes, driven by the growing construction activities, particularly in emerging economies, for applications such as HVAC systems, water supply systems, and sewage...
Read more