Cyclopentane Market 2021 – Trends, Profit Growth, Size, Share, Analysis by Top Players, and Forecast by 2030
Research Reports
Mar 24, 2022
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 combustible hydrocarbon, which is also known as pentamethylene. It is widely 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, panels, 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 working agents or fluids 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 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 less global warming potential and promises low operating costs, making them the preferred choice for blowing agents in end-use industries.
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Key Players
The major market players in the market are
- 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).
Cyclopentane Market Segmentation
The global Cyclopentane Market has been segmented based on Application, End User, and Region.
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.
The cyclopentane market is categorized into residential refrigerators, commercial refrigerators, construction, and others by end-use industry. 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 will register the highest CAGR of 8.22%.
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Regional Classification
The global Cyclopentane Market has been studied across five regions: 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 increasing 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 drive the regional market. The high public and private investments 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 followed by its unquestionable dominance over the global market players.
Recent Development
The growing investments by the prominent market players and global governments in the regions belonging to the APAC market are helping in the market expansion, followed by its dominance over other participating regions and companies of the cyclopentane market during the ongoing forecast period ending in 2027.
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Table of Content
1 EXECUTIVE SUMMARY
1.1 MARKET ATTRACTIVENESS ANALYSIS 17
1.1.1 GLOBAL CYCLOPENTANE MARKET, BY APPLICATION 18
1.1.2 GLOBAL CYCLOPENTANE MARKET, BY END USER 19
1.1.3 GLOBAL CYCLOPENTANE MARKET, BY REGION 20
2 MARKET INTRODUCTION
2.1 DEFINITION 21
2.2 SCOPE OF THE STUDY 21
2.3 MARKET STRUCTURE 21
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS 22
3.2 PRIMARY RESEARCH 23
3.3 SECONDARY RESEARCH 24
3.4 MARKET SIZE ESTIMATION 24
3.5 FORECAST MODEL 25
3.6 LIST OF ASSUMPTIONS & LIMITATIONS 26
4 MARKET DYNAMICS
4.1 INTRODUCTION 27
4.2 DRIVERS 29
4.2.1 HIGH DEMAND AS BLOWING AGENT FOR RIGID FOAM INSULATION 29
4.2.2 PHASE-OUT OF HCFCS AND HFCS REFRIGERANTS 29
4.3 RESTRAINT 30
4.3.1 AVAILABILITY OF SUBSTITUTE PRODUCTS 30
4.4 OPPORTUNITY 31
4.4.1 GROWING END-USE MARKETS IN EMERGING ECONOMIES 31
4.5 CHALLENGE 33
4.5.1 VOLATILITY IN RAW MATERIAL PRICES 33
5 MARKET FACTOR ANALYSIS
5.1 SUPPLY CHAIN ANALYSIS 34
5.1.1 RAW MATERIALS SUPPLIERS 34
5.1.2 CYCLOPENTANE PRODUCERS 34
5.1.3 DISTRIBUTION CHANNELS 35
5.1.4 APPLICATIONS 35
5.2 PORTER’S FIVE FORCES MODEL 36
5.2.1 THREAT OF NEW ENTRANTS 36
5.2.2 BARGAINING POWER OF SUPPLIERS 37
5.2.3 THREAT OF SUBSTITUTES 37
5.2.4 BARGAINING POWER OF BUYERS 37
5.2.5 INTENSITY OF RIVALRY 37
5.3 PRICING OVERVIEW, BY REGION, USD/KG (2020-2027) 38
5.4 IMPACT OF COVID-19 ON THE GLOBAL CYCLOPENTANE MARKET 38
5.4.1 OVERVIEW 38
5.4.2 IMPACT OF COVID-19 OUTBREAK ON THE SUPPLY CHAIN 38
5.4.3 QUALITATIVE ANALYSIS ON CHANGE IN DEMAND FROM END USER 39
5.4.3.1 CONSTRUCTION 39
5.4.3.2 AUTOMOTIVE 39
5.4.4 NUMBER OF COVID-19 CASES AS OF 27TH AUGUST 2020 40
5.4.5 MAJOR GOVERNMENT POLICIES TO COUNTER THE IMPACT OF COVID-19 40
5.4.5.1 US 40
5.4.5.1.1 FISCAL POLICIES 40
5.4.5.1.2 MONETARY AND MACRO-FINANCIAL 40
5.4.5.2 EUROPEAN UNION 41
5.4.5.2.1 FISCAL POLICIES 41
5.4.5.2.2 MONETARY AND MACRO-FINANCIAL 41
5.4.5.3 CHINA 41
5.4.5.3.1 FISCAL POLICIES 41
5.4.5.3.2 MONETARY AND MACRO-FINANCIAL 41
5.4.5.4 INDIA 42
5.4.5.4.1 FISCAL POLICIES 42
5.4.5.4.2 MONETARY AND MACRO-FINANCIAL 42
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