Cyclopentane Market indeed belongs to the class of cycloalkanes and is utilized in various industries for several purposes. Its applications range from being a solvent to being used in the production of resins, adhesives, and polymers.
The SNS Insider report indicates that the Cyclopentane Market was valued at USD 315.94 million in 2022, and it is projected to achieve a market size of USD 571.11 million by 2030, with a compound annual growth rate (CAGR) of 7.7% expected over the forecast period from 2023 to 2030. The cyclopentane market is experiencing notable growth propelled by its increasing utilization as a blowing agent in the production of foam insulation, particularly in the construction and refrigeration industries. Cyclopentane, a highly flammable and volatile liquid hydrocarbon, serves as an eco-friendly alternative to conventional blowing agents like hydrochlorofluorocarbons (HCFCs) and hydrofluorocarbons (HFCs), which have adverse effects on the environment and contribute to global warming. With the growing emphasis on energy efficiency, sustainability, and environmental protection, the demand for cyclopentane is on the rise, driven by its excellent insulating properties, low thermal conductivity, and ozone depletion potential of zero. Moreover, stringent regulations and guidelines aimed at phasing out ozone-depleting substances and reducing greenhouse gas emissions further contribute to the growing adoption of cyclopentane as a blowing agent in foam insulation applications. Bromination Of Cyclopentane
One of the key drivers propelling the cyclopentane market is the increasing demand for energy-efficient refrigeration and insulation solutions, particularly in the appliances and cold chain industries. Cyclopentane is widely used as a blowing agent in the production of rigid polyurethane foam insulation for refrigerators, freezers, and cold storage facilities, where it offers excellent insulating properties and thermal performance. With stringent regulations and sustainability mandates driving the transition towards eco-friendly refrigeration systems and building materials, the demand for cyclopentane-based insulation solutions is expected to soar. Moreover, the growing consumer awareness of energy conservation and environmental protection is further bolstering the market for cyclopentane as a preferred blowing agent in green building projects and energy-efficient appliances.
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Some of the Key Players Included are:
Chevron Phillips Chemical Company, Liaoning Yufeng Chemical Co. Ltd., HCS Group GmbH, SOUTH HAMPTON RESOURCES, Dymatic Chemical, Maruzen Petrochemical, Ineos, YEOCHUN NCC CO. LTD., SK global chemical Co. Ltd, HPLA Group, and other players.
Cyclopentane belongs to the class of cycloalkanates and is used widely for production of resins, rubbery adhesives as well as polymers. For insulating polyurethane foam, it is also used as a blowing agent. Since cyclopentane does not contain any hydro-fluorocarbon (HFCs), it is also used to insulate refrigerators as well as freezers. In order to achieve greater energy efficiency, polyurethane foam is applied in buildings of all types. The construction sector uses polyurethane foam for temperature regulation and sound insulation in roofs, walls, and doors. This segment will also contribute to the growth of this sector during the forecast period by strengthening the construction industry in developing countries and investing in public infrastructure.
Increased demand for refrigerators, insulated containers and insulation materials is expected to underpin this growth. Moreover, stringent government regulations and policies to eliminate the use of hydrochlorofluorocarbons (HCFC), increase the use of cyclopentane as a potential substitute, and ensure a sustainable future with the widespread application of cyclopentane. Awareness of the different characteristics of cyclopentanes, such as its broad range of uses.
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The segmentation of the cyclopentane market according to its type of application bronzing agent, solvents and reagents. The blowing agent segment dominated the market; this can be attributed to the increasing demand and use of cyclopentane across various industries as a refrigerant in refrigerators and as a blowing agent for insulation purposes. Cyclopentane is required for its use in freezers, cold stores and fridges because of the growing health care and pharmaceutical industry as well as food and beverages. The Cyclopentane market segmentation is based on type applications residential refrigerators, commercial refrigerators, and construction. The residential refrigerator segment accounted for the majority of the market; the demand for cyclopentane refrigerants during the forecast period is driven by the reduced use of fluorinated blowing agents in this application due to stringent government regulations. Compared to the current blowing agents, cyclopentane is an affordable alternative.
Due to the use of cyclopentaene applications in electricity and appliances, as well as a phasing out of HCFCs in the region, Asia Pacific is expected to be the largest revenue generator by 2022, accounting for 40.6%. The main drivers of growth in the region's market are factors such as a presence of large players, availability of feedstock and high adoption of cyclonepentadone afterMontreal Protocol. China is the world's largest producer of cyclopentane, which means that it will retain its position as a worldwide leader. In 2022, Europe accounted for the 2nd largest revenue share, which is expected to increase by a high compound annual growth rate of 6.2% during the forecast period. The region is said to maintain its industry position in the coming years. Using advanced renovation materials like insulating materials, there is much potential for innovation to improve the construction process.
The use of Cyclopentane as a Blowing Agent in the production of rigid foam insulation and phase out of HCFC and HFC refrigerants is one of the main factors that drives the market for cyclopentanes. In refrigerating systems, refrigerants are the active substance or fluid that absorbs heat during evaporation from the low-temperature and pressure areas and releases it during condensation at a region of higher temperature and pressure areas.
Haier, one of the world's largest manufacturers of refrigeration appliances, announced plans to introduce cyclopentaned liquidrefrigerant for high-capacity refrigerators into upcoming models at the end of 2023. The company's commitment to sustainability and its intention of expanding in Europe and Asia are also demonstrated by this move.
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