Cyclopentane Market Research Report - Forecast till 2027

Cyclopentane Market Research Report: Information By Application (Blowing Agent, Solvent & Reagent and Others), End User (Residential Refrigerators, Commercial Refrigerators, Construction and Others) and Region (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa) - Forecast till 2027

ID: MRFR/CnM/8978-CR | March 2021 | Region: Global | 154 pages

Cyclopentane Market Overview


The Cyclopentane Market is projected to register a CAGR of 7.40% to reach USD 493,623.5 Thousand by the end of 2027.


Cyclopentane is a flammable hydrocarbon, which is also known as pentamethylene. It is widely being used as a blowing agent in foam manufacturing and has zero ozone depletion potential, thereby, recognized by environmental groups. It is a superior alternative to HCFCs and CFCs. It is used in home refrigerator appliances, insulating foams, insulating panels, and boards and pipes in the construction industry.


The primary driver of the global cyclopentane market is its use as a blowing agent for manufacturing rigid foam insulation and phase-out of HCFCs and HFCs refrigerants. Refrigerants are a working agent or fluid used in refrigerating systems to absorb heat during evaporation in regions of low temperatures and pressures and release heat during condensation in regions with high temperatures and pressures. They are the primary fluid that is responsible for cooling purposes in commercial and residential refrigerators. Hydrofluorocarbon (HFC) and hydrochlorofluorocarbon (HCFC) are used in various applications such as automotive, home air conditioners, and industrial refrigeration.


Cyclopentane has low global warming potential and ensures low operating costs, making them the preferred choice for blowing agents in end-use industries.


Global Cyclopentane Market Revenue, By End User, 2019 (USD Thousand)
Cyclopentane Market


Sources: MRFR Analysis


Segmentation


Global Cyclopentane Market has been segmented based on Application, End User, and Region.


Based on application, the global cyclopentane market is classified into blowing agent, solvent & reagent, and others. The blowing agent segment accounted for the largest market share of 85.60% in 2019, with a market value of USD 2,92,645.3 thousand; it is expected to register the highest CAGR of 7.59% during the forecast period.


By end-use industry, the cyclopentane market is categorized into residential refrigerators, commercial refrigerators, construction, and others. The residential refrigerators segment accounted for the largest market share of more than 40% in 2019 and is expected to register a CAGR of 7.48% during the forecast period. However, the construction segment is projected to register the highest CAGR of 8.22%.


Global Cyclopentane Market Share, By Region, 2019 (%)
Cyclopentane Market


Sources: MRFR Analysis


Regional Analysis


Global Cyclopentane Market has been studied across five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. The market in Asia-Pacific held the largest market share of over 43% in 2019, with a market value of around USD 151,108.9 thousand. The high growth in this region can be attributed to the rapid industrialization and growing economic conditions in growth-centric countries such as India, South Korea, and Malaysia.


Growing demand from residential refrigerators, commercial refrigerators, construction end users drives the regional market. The high public and private investment in the construction industry on account of the rapid industrialization and urbanization and high spending on renovation are expected to contribute to the regional market growth.


Key Players


Key Players operating in the Global Cyclopentane Market include INEOS (UK), Haltermann Carless Deutschland GmbH (Germany), Jilin Beihua Fine Chemical Co., Ltd (China), Chevron Phillips Chemical Company (US), Liaoning Yufeng Chemical Co., Ltd (China), South Hampton Resources (US), Maruzen Petrochemical Co., Ltd (Japan), Haldia Petrochemicals Limited (India), Yeochun NCC Co., Ltd (South Korea), and SK Chemicals Co., Ltd. (South Korea).


Companies such as Chevron Phillips Chemical Company, INEOS, South Hampton Resources, Haltermann Carless Deutschland GmbH, and SK Chemicals Co., Ltd dominate the global market due to their brand reputation, product differentiation, and financial stability.


Key strategic initiatives such as acquisition and expansion were followed by the players with a moderate approach. For instance, in July 2020, Haldia Petrochemicals Limited acquired Lummus Technology, a material technology company, for USD 2.725 billion.


Market Segmentation


Global Cyclopentane Market, By Application



  • Blowing Agent

  • Solvent & Reagent

  • Others


Global Cyclopentane Market, By End User



  • Residential Refrigerators

  • Construction

  • Commercial Refrigerators

  • Others


Global Cyclopentane Market, By Region



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • UK

    • Russia

    • France

    • Spain

    • Italy

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia & New Zealand

    • South Korea

    • Indonesia

    • Thailand

    • Rest of Asia-Pacific



  • Latin America

    • Mexico

    • Brazil

    • Argentina

    • Rest of Latin America



  • Middle East & Africa

    • GCC

    • Turkey

    • South Africa

    • Rest of Middle East & Africa




Available Additional Customizations



  • Customer Analysis of Major Consumers

  • Additional Company Profiles


Intended Audience



  • Cyclopentane Manufacturers

  • Suppliers and Traders of Cyclopentane and Related Products

  • Government, Associations, and Industrial Associations

  • Investors and Trade Experts

  • Consulting in Chemical Experts



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: USD 493,623.5 Thousand
  CAGR   7.40% (2020 - 2027)
  Base Year   2020
  Forecast Period   2020-2027
  Historical Data   2019
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Application, End User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Global Cyclopentane Market— INEOS (UK), Haltermann Carless Deutschland GmbH (Germany), Jilin Beihua Fine Chemical Co., Ltd (China), Chevron Phillips Chemical Company (US), Liaoning Yufeng Chemical Co., Ltd (China), South Hampton Resources (US), Maruzen Petrochemical Co., Ltd (Japan), Haldia Petrochemicals Limited (India), Yeochun NCC Co., Ltd (South Korea), and SK Chemicals Co., Ltd. (South Korea)
  Key Market Opportunities   It is used in various applications such as automotive, home air conditioners, and industrial refrigeration
  Key Market Drivers   It is use as a blowing agent for manufacturing rigid foam insulation and phase-out of HCFCs and HFCs refrigerants


Speak to Analyst Ask for Customization