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Cyclopentanone Market Size & Forecast Will Cross USD 130.0 Million by 2020
Cyclopentanone Market
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Cyclopentanone is generally referred as cyclic ketone, cyclopentanone, ketocyclopentane. It is a pale yellow or colourless fluid that is obtained by the chemical synthesis of adipic acid and barium hydroxide under high temperature. It is biodegradable and get dissolved in water and form a vapor that is corpulent than air. Key application industries for cyclopentanone includes, pharmaceuticals, biological, perfumes & aromas, rubber chemicals, insecticides, etc.
Cyclopentanone market is mainly driven by strong demand from pharmaceutical industry. Rapid growth of pharmaceutical industry in emerging economies of Asia Pacific region is primarily responsible for the growth of cyclopentanone market. Economic growth and improved lifestyle has been resulted into growing demand for perfumes & aromas in the region. This is also expected to fuel the growth of cyclopentanone in the region. However, environmental and human health regulations are expected to affect the growth of cyclopentanone market. Cyclopentanone in pure form can be unsafe to human health and it may cause severe eye and skin irritation.
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Key application segments of the global cyclopentanone include pharmaceuticals, biological, perfumes & aromas, rubber chemicals, insecticides and other including electronic solvent, paints and varnish remover, and oil extraction. In 2014, perfumes and aromas segment dominated the global cyclopentanone market. Growth in the perfumes and aromas segment is driven by an increasing demand for fragrance application especially in cosmetic industries. Other important outlets for cyclopentanone include rubber chemicals, insecticides, etc.
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Asia Pacific dominated the global cyclopentanone market with a significant share in total volume consumption in 2014. Asia Pacific is a leading producer as well as consumer of cyclopentanone. North America and Europe also accounted for significantly large share of the global cyclopentanone market in 2014. Latin America and Middle East & Africa holds small share of the global cyclopentanone market.
The key players for the cyclopentanone market include Solvay, BASF SE, ZEON CHEMICALS, Zhejiang NHU Co., Ltd, Xinyi Dongsheng Chemical Co., Ltd, Shandong Guorun Chemical Co., Ltd, Company eight, Pearlk Chemical Materials (Qidong) Co., Ltd, Zhonggung Group, Liaoning Jiazhi Chemicals, Caffaro and WanXiang International.
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