Press release
Cyclopentane Industry Is Ianticipated To Grow at a CAGR of 7.0% to Reach US$ 882.6 Million by 2033
The global cyclopentane market is estimated to be valued at US$ 448.7 million in 2023 and it is anticipated to grow at a CAGR of 7.0% to reach US$ 882.6 million by the end of 2033.Cyclopentane is included in the cycloalkane class and is widely used in the manufacturing of resins, rubber adhesives, and synthetic rubber. It is also used as a blowing agent for polyurethane insulating foam. Since cyclopentane does not contain any hydro-fluorocarbon (HFCs), it is also used to insulate refrigerators as well as freezers.
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Growing Demand for Freezers & Refrigerants to Increase Cyclopentane Consumption
The demand for freezers and refrigerants is expected to increase the consumption of cyclopentane. Cyclopentane is a hydrocarbon that is used as a refrigerant in many commercial and residential freezers and refrigerators. It is a non-toxic, non-flammable, and non-ozone depleting gas that has a low global warming potential. It is also an efficient refrigerant that can help reduce energy consumption in freezers and refrigerators.
As the demand for freezers and refrigerants increases, the demand for cyclopentane will also increase. This will lead to an increase in the production of cyclopentane, which will in turn lead to an increase in its consumption.
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Competitive Landscape
Leading market players in the cyclopentane market are continuously focusing on long-term supply contracts and collaborations with end-use industries. Companies are also investing in research and development to discover new areas of application for cyclopentane.
Key Companies Profiled:
• Chevron Phillips Chemical Company LLC
• Dymatic Chemicals, Inc.
• Beijing Eastern Acrylic Chemical Technology Co., Ltd
• LG Chem, Ltd.
• Yeochun NCC Co. Ltd.
• Trecora Resources
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Key Segments:
• By Product Type :
o Foam-Blowing Agent
o Solvent and Reagents
• By Grade :
o 98%
• By Application :
o Residential Refrigerators
o Insulated Containers and Sippers
o Insulating Construction Material
o Analytical and Scientific Application
o Others
• By Region :
o North America
o Latin America
o Europe
o East Asia
o South Asia & Oceania
o MEA
Questionnaire answered in the report include:
• How the industry has grown?
• What is the present and future outlook on the basis of region?
• What are the challenges and opportunities?
• Why the consumption in region?
• In which year segment is expected to overtake segment?
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