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Latest TMR Report Explores Impact of COVID-19 Outbreak on Cyclopentane Market

08-28-2020 12:18 PM CET | Industry, Real Estate & Construction

Press release from: Transparency Market Research

Cyclopentane Market

Cyclopentane Market

The global cyclopentane market was valued at US$ 284,460.87 Thousand in 2017 and is anticipated to expand at a CAGR of 6.6% from 2018 to 2026, according to a new report titled ‘Cyclopentane Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR). The global cyclopentane market is driven by rise in the demand for climate-friendly refrigerators from the consumer electronics industry. Europe accounts for a major share of the global cyclopentane market.

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Rise in demand for climate-friendly refrigerators from the consumer electronics industry to drive the global cyclopentane market

Refrigeration has had a high impact on industries, lifestyle, agriculture, and settlement patterns. Refrigerators are used in kitchens for storing fruits and vegetables, salads, fish, and meat safely for long periods. In addition, they are used in the health care industry for storing a range of medical devices and products at low temperatures. Polyurethane rigid foam is the most widely used insulating material in refrigerators and freezers throughout the world. Cyclopentane is a cost-efficient hydrocarbon with good thermal properties, zero ODP, and low GWP. It is widely adopted in Europe and the U.S. as a blowing agent in PU insulation foam for use in refrigerators. Insulation efficiency of polyurethane foams is a key property utilized for low-temperature preservation of food during its processing, storage, and distribution to consumers. Hence, rising demand for residential as well as commercial refrigerators is expected to propel the demand for polyurethane foams and, in turn, cyclopentane during the forecast period.

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PU insulation foams blown with cyclopentane are ideal for use in residential refrigerators, as they consume much less electricity to cool food. Furthermore, they reduce carbon emissions and other harmful pollutants from electricity-generating plants that burn fossil fuels. Cyclopentane does not contain any hydrofluorocarbons (HFCs). It aids in significant reduction in carbon dioxide emissions. Cyclopentane is a more eco-friendly option for use in the foam-blowing process compared to its counterparts such as R134a and R245fa, due to its low global warming potential (GWP) of approximately 10 and zero ozone depletion potential (ODP). Rising demand for climate-friendly refrigerators that utilize refrigerant and foam-blowing agent gases with GWP of 20 or less and zero ozone depletion potential (ODP) is estimated to drive the demand for cyclopentane during the forecast period.

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High degree of competition among established players

Key players profiled in the report are Chevron Phillips Chemical Company LLC, Maruzen Petrochemical Co., Ltd, HCS Group GmbH, Pure Chem Co. Ltd., INEOS Group Ltd. Haldia Petrochemicals Limited, Guangdong Dymatic Fine Chemical Co., Ltd., Trecora Resources, and Yeochun NCC Co., Ltd. The degree of competition among established players is high.

Global Cyclopentane Market, by Product

Foam-blowing Agents
Solvents & Reagents

Global Cyclopentane Market, by Application

Residential Refrigerators
Commercial Refrigerators
Insulating Construction Materials
Analytical & Scientific Applications
Others (including Insulating Containers and Sippers)

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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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