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Cyclopentane Market size growth latest application share recent trends and better investment opportunities by forecast to 2030

Market Highlights

The Cyclopentane Market is projected to be valued at USD 493,623.5 Thousand by 2027, registering a CAGR of 7.40% during the forecast period.

Cyclopentane is extensively being used as a physical blowing agent for manufacturing rigid foam insulation, such as polyurethane insulating foam. Cyclopentane reduces the greenhouse gas (GHG) emissions of the insulating process. Moreover, it is used as a replacement for the traditional blowing agent as it reduces the facility’s GHG emissions by 99%.

Polyurethane foam insulation is used in the composite building elements for roof and wall claddings. Insulations are used in industrial construction, such as industrial halls and cold storage facilities.

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Segment Analysis

Global Cyclopentane Market is segmented based on Application, End User, and Region.

Based on application, the global cyclopentane market has been segmented into blowing agent, solvent & reagent, and others. Among these segments, the blowing agent segment accounted for the largest share of around 85% in 2019. The global shift towards using environment-friendly and low-cost blowing agents in polyurethane foam production drives the demand for cyclopentane. The segment also emerged as the fastest-growing segment with a CAGR of 7.59%.

By end-user, the cyclopentane market is classified into residential refrigerators, commercial refrigerators, construction, and others. In 2019, the residential refrigerants segment held the largest market share of 42.5%. The benefits of using PU foam for water heaters are energy efficiency and structural strength. Rigid polyurethane foam is a cost-effective material used to meet required energy ratings in consumer refrigerators and freezers. It offers excellent thermal insulating properties, thereby driving the cyclopentane market.

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Key Players

MRFR recognizes the following companies as the Key Players in the Global Cyclopentane Market — INEOS (UK), Haltermann Carless Deutschland GmbH (Germany), Jilin Beihua Fine Chemical Co., Ltd (China), Chevron Phillips Chemical Company (US), Liaoning Yufeng Chemical Co., Ltd (China), South Hampton Resources (US), Maruzen Petrochemical Co., Ltd (Japan), Haldia Petrochemicals Limited (India), Yoochun NCC Co., Ltd (South Korea), and SK Chemicals Co., Ltd. (South Korea).

Key Findings of the Study

  • Global Cyclopentane Market is projected to reach a value of USD 493,623.5 thousand by 2027 with a CAGR of around 12.75% during the forecast period of 2022–2030.

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  • Asia-Pacific emerged as the leading and the fastest-growing region for this market on account of the rapid growth of end-use industries in countries such as India, South Korea, and others.
  • Volatile raw material prices are a key challenge in this market.

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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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