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Global Cyclopentane Market to Reflect a CAGR of 5.9% Through 2030
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The cyclopentane market is set to grow at a 5.9% CAGR through 2030, driven by demand for eco-friendly insulators in refrigeration and healthcare.
Growing need for the environment friendly insulators has led to an upsurge in demand for the cyclopentane products in the global market. In addition, increasing production of the refrigeration products is projected to impact the global market growth of cyclopentane positively. Fact.MR states that the global cyclopentane market is projected to reflect a CAGR of 5.9% over the forecast period.
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Factors Fuelling Global Market Growth
Growth of the global cyclopentane market is mainly bound to micro-economic and macro-economic factors. As the need for storing stock of food products in a particular temperature arise, adoption of the refrigerators and freezers continue to remain high. In addition, growing need for storing range of medical devices and products in low temperature conditions will further continue to rev up demand for refrigeration products in the healthcare industry. Surge in adoption of refrigerators and freezers in the food and beverage, healthcare, and pharmaceutical industry will continue to boost sales of the insulators globally.
Government in various countries have imposed regulations pertaining to adoption of environment friendly insulation materials. In order to offer environment friendly insulation options, manufacturers are witnessing robust demand for the cyclopentane products for manufacturing insulating materials. Unlike FCF and HCFC, cyclopentane possess low potential of ozone penetration attributes.
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Surge in production of adhesives and coatings for packaging purposes will continue to rev up demand for resins globally. As demand for resins continues to increase for the production of fiberglass reinforcements, composite materials and carbon fiber, sales of cyclopentane is projected to increase globally. Growing production of composite materials, adhesives, carbon fiber and fiberglass reinforcement is further projected to contribute towards the global market growth of cyclopentane.
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 |
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Residential Refrigerators to Represent Significant CAGR
Growing need for insulating materials for the production of refrigeration products has led to surge in demand for foam-blowing agents in the global market. In terms of volume, the foam-blowing agents segment is projected to represent the highest growth, recording more than 99,200 units by 2026-end. On the other hand, the foam-blowing agents product type segment is projected to reflect the fastest growth in the global market of cyclopentane throughout the forecast period.
On the basis of application, the insulating construction material segment is projected to represent a significant growth in terms of volume, accounting for more than 18,300 units by 2017-end. However, the residential refrigerators application segment is projected to reflect a significant CAGR during the forecast period.
Market Players
Major players in the global market of cyclopentane are Dymatic Chemicals, Inc., Chevron Phillips Chemical Company LLC, LG Chem, Ltd., Beijing Eastern Acrylic Chemical Technology Co., Ltd., Trecora Resources, Yeochun NCC Co. Ltd., Merck & Co. Ltd, INEOS Group Ltd., Haldia Petrochemicals Limited, Maruzen Petrochemical Co., Ltd., Exxon Mobil Corporation, HCS Group GmbH and ZEON Corporation.
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The article discusses the growth of the global cyclopentane market, projected at a 5.9% CAGR through 2030.
The growth is driven by the demand for eco-friendly insulators and increased use in refrigeration and healthcare.
Major players include LG Chem, Exxon Mobil, and Chevron Phillips Chemical Company.
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