Cyclopentane Market

Cyclopentane Market Outlook (2023 to 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.

Report Attributes	Details
Estimated Market Value (2023E)	US$ 448.7 Million
Forecasted Market Value (2033F)	US$ 882.6 Million
Global Market Growth Rate (2023-2033)	~7.0% CAGR
North America Market Share (2023)	~24.3%
East Asia Market Growth Rate (2023-2033)	~7.1% CAGR
Europe Market Growth Rate (2023-2033)	~6.8% CAGR
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

Historic and Future Path for Cyclopentane Market

The building industry and home refrigerants are the two main applications of cyclopentane. The use of CFCs, HFCs, and HCFCs is significantly affected by government regulations; as a result, businesses are looking into alternatives, which is driving the demand for cyclopentane. The demand for cyclopentane is anticipated to rise as foam-blowing agents propel a market expansion, and cyclopentane is also used as a protective material to protect compartments and sippers.

Furthermore, in order to save money, reduce ODP, and lower GWP, the majority of businesses are switching from HCFC-141b to cyclopentane. Cyclohexane is cracked at high pressures and temperatures in presence of alumina to produce cyclopentane.

• Short Term (2023-2026): Cyclopentane market is expected to witness high demand in coming years as demand for reducing carbon emission is increasing across the globe.
• Medium Term (2026-2029): Rising construction industry across developed as well as developing countries to boost the demand for cyclopentane as it is widely used as a blowing agent in the construction industry.
• Long Term (2029-2033): Leading manufacturers in the cyclopentane market are focusing on providing high product quality through modern technology for refrigerators as well as in the construction industry.

Market Dynamics Overview

“Growing Refrigerant & Freezers Demand to Boost the Cyclopentane Consumption”

Cyclopentane is most widely used in refrigerators. It is mainly used in refrigerant and insulation, as it improves the shelf life of temperature-sensitive products. Increasing demand for frozen foods and beverages is likely to increase demand for refrigerators as well as freezers, which paves the way for the cyclopentane market growth.

Also, the healthcare industry is likely to lift the cyclopentane market in the coming years as refrigerators are widely used for the storage of drugs and other medicines in healthcare infrastructures. This is expected to boost the demand for various types of refrigerators which in turn is expected to fuel the cyclopentane market growth.

“Surging Construction Industry: To Supplement Cyclopentane Demand”

Over the last decade, governments across different regions have increased their investment in infrastructure and construction as construction plays an essential role in the growth of the country.

Cyclopentane is widely used as a blowing agent in the construction industry. It is used as a foam blowing agent in the manufacturing of the polyurethane insulating foam which is used in the construction panels.

The construction industry is valued at over US$ 4.5 trillion and is expected to grow at a rapid pace, especially in emerging countries such as China, India, Brazil, and European countries. This is expected to boost the demand for cyclopentane.

“High Flammability of Cyclopentane to Hamper Market Growth”

Cyclopentane is a highly flammable chemical that adds various risks while using it as a blowing agent. Its explosion limit is between 1.0-9.0% by volume in air. The user has to follow stringent regulations while using cyclopentane.

The flammability and plasticizing effects of cyclopentane on the polymer matrix are some of the prime disadvantages of using cyclopentane. It demands appropriate safety precautions and higher densities compared to CFC-11 co-blown system.

Country-wise Insights

What are the Factors Driving the US Cyclopentane Market?

The US Cyclopentane market has grown at a CAGR of 5.2% in the historical period from 2018-2022 and is anticipated to grow at a CAGR of 7.1% in the forecast period.

The US has a well-established market for cyclopentane with the presence of some of the leading players in the country. Further, the demand for cyclopentane is mainly attributed to polyurethane foam as it has a major application in the growing construction industry across the US.

What Role does China Play in the Expansion of the Cyclopentane Market?

China is one of the fastest-growing economies across the globe. The growing economy in China has helped to increase consumer disposable income, which has created high demand for refrigerators. In addition, the growing number of new restaurants in China has been the key factor for the rising sales of refrigerants.

China has also invested heavily in the pharmaceutical industry over the period. The pharmaceutical industry has witnessed high demand for refrigerators and freezers for the storage of various medications and vaccines. This is anticipated to increase demand for refrigerators. With the high demand for refrigerators, the cyclopentane market is anticipated to grow at a prominent rate across China.

Category-wise Insights

Why are Insulated Containers Generating Demand for Cyclopentane?

Cyclopentane is used as a blowing agent in the manufacturing of insulating material to use in insulated containers and sippers. The consumer product industry is expanding at a rapid pace across the globe and is likely to increase demand for cyclopentane as it is used to make insulating materials for use in insulated containers and sippers.

Insulated containers are particularly used in lunch boxes and are in high demand in the consumer product industry due to the number of benefits they offer. Insulated containers and sippers are anticipated to grow at a CAGR of 6.7% in the forecast period.

Which Product Type is Expected to Drive the Market?

Based on the product type, the foam-blowing agent is expected to drive the market in the coming years. Cyclopentane is most widely used as a foam-blowing agent. It is considered the most important raw material in the manufacturing of high-performance insulation in refrigerators.

Market Titans Key Strategies

Prominent cyclopentane manufacturers are Chevron Phillip Chemical Company, Dynamatic Chemical, Beijing Eastern Acrylic Chemical Technologies, LG Chem, and Yeochun NCC Co. Ltd.

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.

Fact.MR has provided detailed information about the price points of key manufacturers of cyclopentane positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Cyclopentane Industry Research

• By Product Type :

  • Foam-Blowing Agent
  • Solvent and Reagents

• By Grade :

  • <98%
  • >98%

• By Application :

  • Residential Refrigerators
  • Insulated Containers and Sippers
  • Insulating Construction Material
  • Analytical and Scientific Application
  • Others

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA