Market Research Future has published a Cooked Research Report on the Global Cyclopentane Market.
Global Cyclopentane Market is projected to be valued at USD 493,623.5 Thousand by 2027, registering a CAGR of 7.40% during the forecast period.
Cyclopentane is extensively being used as a physical blowing agent for manufacturing rigid foam insulation, such as polyurethane insulating foam. Cyclopentane reduces the greenhouse gas (GHG) emissions of the insulating process. Moreover, it is used as a replacement for the traditional blowing agent as it reduces the facility's GHG emissions by 99%.
Polyurethane foam insulation is used in the composite building elements for roof and wall claddings. Insulations are used in industrial construction, such as industrial halls and cold storage facilities.
Global Cyclopentane Market is segmented based on Application, End User, and Region.
Based on application, the global cyclopentane market has been segmented into blowing agent, solvent & reagent, and others. Among these segments, the blowing agent segment accounted for the largest share of around 85% in 2019. The global shift towards using environment-friendly and low-cost blowing agents in polyurethane foam production drives the demand for cyclopentane. The segment also emerged as the fastest-growing segment with a CAGR of 7.59%.
By end user, the cyclopentane market is classified into residential refrigerators, commercial refrigerators, construction, and others. In 2019, the residential refrigerants segment held the largest market share of 42.5%. The benefits of using PU foam for water heaters are energy efficiency and structural strength. Rigid polyurethane foam is a cost-effective material used to meet required energy ratings in consumer refrigerators and freezers. It offers excellent thermal insulating properties, thereby driving the cyclopentane market.
Browse Full Report Details @ https://www.marketresearchfuture.com/reports/cyclopentane-market-10458
MRFR recognizes the following companies as the Key Players in the 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 Findings of the Study
Global Cyclopentane Market is projected to reach a value of USD 493,623.5 thousand by 2027 with a CAGR of around 12.75% during the forecast period of 2020–2027.
Asia-Pacific emerged as the leading and the fastest-growing region for this market on account of the rapid growth of end-use industries in countries such as India, South Korea, and others.
Volatile raw material prices are a key challenge in this market.