Cyclopentane Market Analysis and Industry Outlook 2026
The global cyclopentane market was valued at US$ 284,460.87 Thousand in 2017 and is anticipated to expand at a CAGR of 6.6% from 2018 to 2026, according to a new report titled ‘Cyclopentane Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR). The global cyclopentane market is driven by rise in the demand for climate-friendly refrigerators from the consumer electronics industry. Europe accounts for a major share of the global cyclopentane market.
High flammability of cyclopentane to hinder the cyclopentane market
Cyclopentane is a flammable liquid and its vapors can be explosive. This calls for specific fire as well as explosion precautions that need to be taken during its use. Cyclopentane must be used under extremely controlled conditions, due to its flammability. In addition, cyclopentane requires retrofitting with explosion-proof instrumentation, which translates into high capital investment. In order to ensure safety and proper handling of cyclopentane, special engineering companies experienced in the design and construction of storage facilities for cyclopentane are required. Increasing ingestion of cyclopentane by workers during the process of production can result in nausea and vomiting caused by irritation in their gastrointestinal tract. All these factors are estimated to restrain the demand for cyclopentane during the forecast period.
Residential refrigerators segment dominates the global cyclopentane market
Among products, the residential refrigerators segment dominated the global cyclopentane market in 2017. Rising demand for climate-friendly residential refrigerators is boosting the global cyclopentane market. Energy is lost through refrigerator walls and roof. This may incur additional operating costs. Use of cyclopentane as a foam-blowing agent reduces heating and cooling loss, thereby improving the efficiency of refrigerator units and building envelopes. Thus, energy saving, low GWP, and zero ODP are some of the features of cyclopentane augmenting the demand for cyclopentane in the residential refrigerators segment.
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Europe leads the global cyclopentane market
Among regions, Europe accounted for a major share of the global cyclopentane market in 2017. Rising focus on disposal of old refrigerators containing CFCs or HCFCs and increasing pressure on manufacturers to replace their existing technology with the pentane technology in order to curb GHG emissions are augmenting the demand for cyclopentane in the region. In Europe, around 85% to 90% of all insulation foams are currently blown by using the cyclopentane technology, due to excellent insulation properties of cyclopentane and its zero ODP and low GWP.
High degree of competition among established players
Key players profiled in the report are Chevron Phillips Chemical Company LLC, Maruzen Petrochemical Co., Ltd, HCS Group GmbH, Pure Chem Co. Ltd., INEOS Group Ltd. Haldia Petrochemicals Limited, Guangdong Dymatic Fine Chemical Co., Ltd., Trecora Resources, and Yeochun NCC Co., Ltd. The degree of competition among established players is high.
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