Global Cyclopentane Market to Expand Two-Fold by 2030, Growth Attributed to Rising Adoption in Refrigerant and Construction Industries
The global cyclopentane market will continue to be influenced by broader developments in the refrigerant and construction industries. Government regulations have been a major influencing factor for the growth of the cyclopentane market, as restrictions on use of CFCs, HFCs, and HCFCs with HC has prompted end-users to look for alternatives. Growth has remained steady on account of wide ranging applications in the construction sector, where it is used as an insulating material. On the back of a steady demand from end-use industries, the global cyclopentane market is poised to grow at a CAGR of 8% throughout the forecast period 2020-2030. Mounting demand as a substitute of chlorofluorocarbon in refrigerators is opening up numerous market opportunities for cyclopentane.
Foam-Blowing Agents to Account for Lion’s Share in Global Cyclopentane Market
Cyclopentane is generally embraced as a blowing operator for protection materials to be utilized in protected holders and sippers. Cyclopentane is used to make protection materials which are utilized in protected compartments and sippers. With increasing demand for cyclopentane as a foam-blowing agent, the segment is anticipated to account for nearly 80% of the global market share. However, cyclopentane as a solvent and reagent is poised to grow healthily at a growth rate of 8% over the forecast period (2020-2030).
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Cyclopentane to Remain Best Choice for Insulated Containers and Sippers
Cyclopentane is used as a blowing specialist for protection materials to be utilized in protected holders and sippers. The worldwide consumer market is encountering strong development in this respect, which is driving the demand for cyclopentane. The utilization of sippers is basic among the athletic and sports products industries, while protected sippers are likewise increasingly gaining attraction from consumers. Furthermore, increasing demand for commercial and residential refrigerators is among the main factors driving demand for cyclopentane. Use of cyclopentane in refrigerators as a foaming agent accounts for more than half of the global market share.
Asia to Maintain Dominance in the Global Cyclopentane Market
Based on geography, the worldwide cyclopentane market covers six significant areas including North America, Latin America, Europe, Japan, Asia-Pacific except Japan and Middle East & Africa. Of these, APEJ represents about half of the cyclopentane market with respect to volume. This is attributed to the United Nations Industrial Development Organization’s (UNNIDO) assistance to several Arab countries during the first phase-out of HCFC and to comply with the global obligations including the Stockholm Convention, and the Montreal Protocol.
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The Gulf countries including UAE, Abu Dhabi, and others are making significant strides in the HCFC phase out and implementation of alternatives such as cyclopentane. In South Africa, too, refrigerator manufacturers are actively adopting cyclopentane in place of HFC blowing agents. The Middle Eastern countries have recently experienced the effect of global warming in the form of severe atmospheric heat waves. These tropical countries cumulatively report huge installations of refrigeration and air-conditioning systems. Based on this scenario, the demand for cyclopentane in the Middle East and Africa region is expected to grow significantly.
Production Capacity & Product Line Expansions to Remain Top Strategies of Key Market Players
The prominent players of cyclopentane manufacturers are focusing on the expansion of their product line and capacity expansions to meet demand associated with different applications and segments. For instance in 2018, ZEON CORPORATION completed the expansion of its new manufacturing plant for C5 petroleum resin at its subsidiary Zeon Chemicals (Thailand) Co., Ltd. This expansion was aimed to increase capacity and provide access to regional market of Thailand.
COVID-19 Impact
The outbreak of Covid-19 has resulted in the disruption of global supply chains and production activity as a result of nation-wide lockdowns. Consequently, the consumer electronics market, including refrigerators and stabilizers, is experiencing declining demand. Likewise, declining construction activities have also stalled demand for cyclopentane.
“Increasing awareness associated with impact of greenhouse gases and changing regulatory landscape is set to influence the cyclopentane market”, says the Fact.MR analyst.
About the Report
Fact.MR published an exclusive forecast report for cyclopentane market between 2020 and 2030. The foremost objective of this report on cyclopentane market is to pitch spearhead insights on market scenario, demand generators and technological advancements in the cyclopentane market. Also, the study on cyclopentane market addresses key dynamics, which are expected to diversify the sales and future prominence of cyclopentane market.
The report on cyclopentane market begins with an executive overview in which product definition has been provided. The report further proceeds with taxonomy of cyclopentane market elaborating on the key segments. Also, the report outlines visionary insights on dynamics cyclopentane market including drivers, restraints, opportunities and trends and pricing analysis along with the key buying factors for cyclopentane. Supply chain analysis and pricing analysis of cyclopentane market along with the difference between cyclopentane used as per applications have also been included in the report to help the readers clearly understand the product framework map in cyclopentane market.
Cyclopentane Market- Scope of the Report
The recent study by Fact.MR on cyclopentane market offers a 10-year forecast between 2020 and 2030. The study analyzes crucial trends that are currently determining the growth of cyclopentane market. This report explicates on vital dynamics such as the drivers, restraints and opportunities for key market players along with key stakeholders as well as emerging players associated with the manufacturing of cyclopentane. The study also provides dynamics that are responsible for influencing the future status of the cyclopentane market over the forecast period.
A detailed assessment of cyclopentane value chain analysis, business execution, and supply chain analysis across the regional markets has been covered in the report. A list of prominent companies operating in the cyclopentane market along with their production capacity analysis enhances the reliability of this comprehensive research study.
Cyclopentane Market: Report Summary
The study offers a comprehensive analysis on diverse features including production capacities, demand, product developments, revenue generation and sales in cyclopentane market across the globe.
A comprehensive estimate on cyclopentane market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of cyclopentane during the forecast period. Price point comparison by region with global average price is also considered in the study.
Cyclopentane Market Segmentation
Fact.MR has studied the cyclopentane market with detailed segmentation on the basis of product type, application and key regions.
|
Product Type |
Application |
Region |
|
Foam-Blowing Agent |
Residential Refrigerators |
North America |
|
Solvent and Reagents |
Commercial Refrigerators |
Latin America |
|
|
Insulated Containers and Sippers |
Europe |
|
|
Insulating Construction Material |
Japan |
|
|
Analytical and Scientific Application |
APEJ |
|
|
Others |
MEA |
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”
Cyclopentane Market: Analysis on Market Size Evaluation
Cyclopentane market has been analyzed for each market segment, in terms of volume (Tons) and value (US $ Mn).
Market estimates at global and regional levels for cyclopentane is available in terms of “US$ Mn” for value and in “tons” for volume. A Y-o-Y growth contrast on prominent cyclopentane market segments, along with the market attractiveness evaluation has been incorporated in the report. Furthermore, the absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve along with identifying potential resources, considering sales and distribution perspective in the global cyclopentane market.
Cyclopentane Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the cyclopentane report, which helped to deliver projection on the regional markets. These chapters include the regional macros (political economic, and business environment outlook, which are expected to have a momentous influence on the growth of cyclopentane market during the forecast period.
Country-specific valuation on demand for cyclopentane has been offered for each regional market, along with the market scope estimate and forecast, price index, and impact analysis of dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries has also been included in the report.
Cyclopentane Market: In-depth Analysis on Competitive Landscape
The report sheds light on the leading manufacturers of the cyclopentane along with their detailed profiles. Essential and Up-to-date data information related to the market performers, who are principally engaged in the production of the cyclopentane, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits the report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which includes essentials such as product portfolio, key strategies along with an all-inclusive SWOT analysis on each player. The company presence is mapped and presented through the matrix for all the prominent players thus providing the readers with actionable insights, which helps in thoughtfully presenting market status, and predicting the competition level in cyclopentane market. Prominent companies operating in the global cyclopentane market, include Chevron Phillips Chemical Company LLC., Dymatic Chemicals, Inc., LG Chem., Ltd., Yeochun NCC Co. Ltd., Trecora Resources, Ineos Group Limited, Merck & Co Inc., Maruzen Petrochemical Co., Ltd. and Haldia Petrochemicals Limited.
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Cyclopentane Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2020 to 2030