Cyclopentane Market worth $430 million by 2026 | Key players HCS Group, INEOS, Maruzen Petrochemical, SK Global Chemical, LG Chem

According to recent market research "Cyclopentane Market with Covid-19 Impact Analysis by Function (Blowing Agent & Refrigerant, Solvent & Reagent), Application, and Region (Asia Pacific, North America, Europe, Middle East & Africa, South America) - Global Forecast to 2026", 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.

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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.

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.

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The 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. Cyclopentane, also known as "pentamethylene," is a kind of cycloalkane having formula C5H10. It is a flammable liquid, and its vapors can be explosive. The chemical has an explosion limit of 1.1-8.7% by volume in air.

Some of the key market players in the cyclopentane market include HCS Group (Germany), Jilin Beihua Fine Chemical Co., Ltd. (China), Dymatic Chemicals, Inc. (China), INEOS (UK), Liaoning Yufeng Chemical Co., Ltd. (China), Maruzen Petrochemical (Japan), SK Global Chemical Co., Ltd. (South Korea), Haldia Petrochemicals Limited (India), LG Chem (South Korea), Puyang Zhongwei Fine Chemical Co, Ltd. (China), Zeon Corporation (Japan). These players have adopted investment, consortium, and partnershipas their growth strategies to meet the growing demand for cyclopentane.

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HCS is one of the leading companies that manufactures hydrocarbon-based solvents and products. In February 2021, HCS Group and Gevo signed a strategic agreement in Germany to develop low-carbon renewable chemicals and Sustainable Aviation Fuel (SAF).

Another important player in the cyclopentane market is INEOS, which is involved in the manufacturing of petrochemicals, specialty chemicals, and oil products. In June 2019, INEOS signs agreement with Saudi Aramco and Total to build its first ever plants in the Middle East. The three world-scale plants will produce key building blocks for carbon fiber, engineering polymers, and synthetic lubricants that are pivotal to economic growth in the region.

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