Cyclopentane Market Size Is Estimated to Rise to USD 430 Million By 2026: Report by MarketsandMarkets™

Chicago, April 25, 2023 (GLOBE NEWSWIRE) -- Global Cyclopentane Market size was USD 272 million in 2020 and is projected to reach USD 430 million by 2026, at a CAGR of 7.8% between 2021 and 2026, as per the recent study by MarketsandMarkets™. Cyclopentane is used across various applications such as residential refrigerator, commercial refrigerator, insulated containers and sippers, insulating construction material, electrical & electronics, among others.

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84 - Market Data Tables
24 - Figures
121 - Pages

List of Key Players in Cyclopentane Market:

1. HCS Group (Germany)
2. Jilin Beihua Fine Chemical Co., Ltd. (China)
3. Dymatic Chemicals, Inc. (China)
4. INEOS (UK)
5. Liaoning Yufeng Chemical Co., Ltd. (China)
6. Maruzen Petrochemical (Japan)
7. SK Global Chemical Co., Ltd. (South Korea)
8. Haldia Petrochemicals Limited (India)
9. LG Chem (South Korea)
10. Puyang Zhongwei Fine Chemical Co, Ltd. (China)
11. Zeon Corporation (Japan)

Drivers, Restraints, and Opportunities in Cyclopentane Market:

1. Driver: Global phase-out of HCFCs by 85% by late 2040s
2. Opportunity: Increasing use of blowing agents in the construction, automotive, and appliance industries
3. Challenge: Flammability of cyclopentane

Key Findings of the Study:

1. By function, blowing agent & refrigerant segment is expected to grow at a faster rate during the forecast period, in terms of volume.
2. By region, North America is expected to grow at a faster rate during the forecast period, in terms of volume.

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By function, blowing agent & refrigerant segment is expected to grow at a faster rate during the forecast period, in terms of volume

The blowing agent & refrigerant segment is expected to grow at a faster rate during 2021 to 2026, in terms of volume. The demand for cyclopentane as a blowing agent is highly dependent on the economic growth of Asia Pacific. Increasing economic growth, followed by heavy investment in the consumer appliances industry, drive the demand for refrigerants in the region.

By region, North America is expected to grow at a faster rate during the forecast period, in terms of volume

North America is expected to grow at a faster rate during 2021 to 2026, in terms of volume. North America has been a leader in terms of product innovation and application development. This factor has significantly influenced the growth of blowing agents, including cyclopentane. The North American market, especially the US, has always been at the forefront in terms of launching new types of blowing agents.

Recent Developments

• In February 2021, HCS Group and Gevo signed a strategic agreement in Germany to develop low-carbon renewable chemicals and Sustainable Aviation Fuel (SAF).
• In June 2019, INEOS signs agreement with Saudi Aramco and Total to build its first ever plants in the Middle East.

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