Analysis on Cyclopentane Market Booming Trends and Forecast Assessment for the Period 2017 – 2026
The scope of the FactMR’s report is to analyze the global cyclopentane market for the forecast period 2017-2026 and offer accurate and unbiased insights to the readers. Cyclopentane manufacturers, suppliers, and stakeholders in the global industry can benefit from the analysis offered in this report.
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Production of freezers and refrigerators has led to surge in demand for the insulating materials. As the need for insulating materials for manufacturing range of refrigerating products remain high, manufacturers are increasingly opting for foam-blowing agents such as cyclopentane. Manufacturers mainly prefer opting for cyclopentane attributed to low ozone depletion features. In addition, application of cyclopentane leads to reduced emission of carbon dioxide. Growing preference for environment friendly insulation materials has led to surge in demand for cyclopentane globally.
Production of Refrigeration Products to Boost Demand
Demand for cyclopentane is mainly derived from increasing production of various refrigerating products. Surge in demand for freezers and refrigeration products in the residential, automotive, food and beverage, and construction industry has led manufacturers to develop effective insulating foams. In addition, production of epoxy resins for composite materials, carbon fiber and fiberglass reinforcements is further expected to contribute towards growth of the global cyclopentane market during the forecast period.
Demand for Environment Friendly Products to Impact Global Market Growth
Attributed to comparatively low potential of global warming and ozone depletion, manufacturers are increasingly looking for options that have low environmental impact. As cyclopentane possesses comparatively low ozone depletion features, manufacturers are increasingly witnessing demand for cyclopentane for production of the perfumes and adhesives. With the growing need for manufacturing range of paints, coatings, pharmaceutical and food products, demand for cyclopentane is expected to remain high in the global market. Increasing production of heaters, refrigerators and other chemical solvents will continue to impact growth of the global market of cyclopentane during the forecast period.
However, various factors are expected to impact growth of the global cyclopentane market negatively. Ingesting cyclopentane during the production process can lead to vomiting and nausea due to irritation in the gastrointestinal tract. In addition, exposure to cyclopentane leads to incoordination, loss of consciousness, dizziness, lightheadedness and excitement. Moreover, severe exposure to cyclopentane can result in fatality due to respiratory failure. These factors are expected to inhibit growth of the global cyclopentane market significantly throughout the forecast period.
Factors Fuelling Global Market Growth
Growth of the global cyclopentane market is mainly bound to micro-economic and macro-economic factors. As the need for storing stock of food products in a particular temperature arise, adoption of the refrigerators and freezers continue to remain high. In addition, growing need for storing range of medical devices and products in low temperature conditions will further continue to rev up demand for refrigeration products in the healthcare industry. Surge in adoption of refrigerators and freezers in the food and beverage, healthcare, and pharmaceutical industry will continue to boost sales of the insulators globally.
Government in various countries have imposed regulations pertaining to adoption of environment friendly insulation materials. In order to offer environment friendly insulation options, manufacturers are witnessing robust demand for the cyclopentane products for manufacturing insulating materials. Unlike FCF and HCFC, cyclopentane possess low potential of ozone penetration attributes. As production of refrigerant products continues to increase in the food and beverage, pharmaceutical, healthcare, and construction industry, demand for the cyclopentane products will continue to increase significantly.
Surge in production of adhesives and coatings for packaging purposes will continue to rev up demand for resins globally. As demand for resins continues to increase for the production of fiberglass reinforcements, composite materials and carbon fiber, sales of cyclopentane is projected to increase globally. Growing production of composite materials, adhesives, carbon fiber and fiberglass reinforcement is further projected to contribute towards the global market growth of cyclopentane.
On the other hand, various factors will continue to inhibit the global market growth of cyclopentane significantly. Increasing ingestion of cyclopentane by the manufacturers during the process of production can result in nausea and vomiting attributed to the irritation in gastrointestinal tract. Exposure of central nervous system to cyclopentane is further likely to result in dizziness, excitement, unconsciousness, and lightheadedness. In addition, increasing exposure to the cyclopentane products can also be fatal attributed to the respiratory disorders. Such factors are projected to contribute towards the global market growth of cyclopentane over the forecast period.
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Residential Refrigerators to Represent Significant CAGR
Growing need for insulating materials for the production of refrigeration products has led to surge in demand for foam-blowing agents in the global market. In terms of volume, the foam-blowing agents segment is projected to represent the highest growth, recording more than 99,200 units by 2026-end. On the other hand, the foam-blowing agents product type segment is projected to reflect the fastest growth in the global market of cyclopentane throughout the forecast period.
On the basis of application, the insulating construction material segment is projected to represent a significant growth in terms of volume, accounting for more than 18,300 units by 2017-end. However, the residential refrigerators application segment is projected to reflect a significant CAGR during the forecast period.
Insulating Construction Material to Represent a Leading Segment
As the need for insulators in the refrigerator products continue to increase, demand for the foam-blowing agents is expected to remain high. On the basis of product type, the foam-blowing agents segment is expected to represent significant growth in terms of volume, accounting for over 99,200 units by the end of 2026. In addition, the foam-blowing agents product type segment is expected to register a significant CAGR throughout the forecast period.
Based on application, the insulating construction material segment is expected to represent the highest growth in terms of volume, recording over 18,300 units in terms of volume by the end of 2017. On the other hand, the residential refrigerators application segment is expected to register a robust CAGR throughout the forecast period.
Major players in the global market of cyclopentane are Dymatic Chemicals, Inc., Chevron Phillips Chemical Company LLC, LG Chem, Ltd., Beijing Eastern Acrylic Chemical Technology Co., Ltd., Trecora Resources, Yeochun NCC Co. Ltd., Merck & Co. Ltd, INEOS Group Ltd., Haldia Petrochemicals Limited, Maruzen Petrochemical Co., Ltd., Exxon Mobil Corporation, HCS Group GmbH and ZEON Corporation.
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