ALBANY, New York, December 5, 2018 /PRNewswire/ --
Competition is intense among the established players in the global cyclopentane market. This is due to their continued emphasis on new product launches and capacity expansion in response to the demand in the market. Such nimble players are also seen engaging in brand promotions. Further, they are always on the lookout for strategic mergers and acquisitions in order to tap into synergies.
Players that have come to hold a significant position in the global cyclopentane market banking upon such policies include Maruzen Petrochemical Co., Chevron Phillips Chemical Company LLC, Ltd, Guangdong Dymatic Fine Chemical Co., Ltd., Haldia Petrochemicals Limited, and Yeochun NCC Co., Ltd.
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A report on the global cyclopentane market prepared by Transparency Market Research says that it would expand at a healthy 7.4% CAGR over the course of the forecast period that starts in 2018 and ends in 2026.
Among the various products available in the global cyclopentane market, the foam-blowing agents are grossing most of the revenue at the moment. This is because the cyclopentane-blown polyurethane foams, with their complicated composition, adhere to strict safety and environmental requirements. They also offer high insulation performance in stable processing conditions. With respect to geography, the global cyclopentane market is currently being led by Europe. Manufacturers of residential refrigerators in Europe mostly opt for cyclopentane owing to its excellent blowing efficiency and superior thermal properties.
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Rising Concerns over Environment Leads to High Uptake of Cyclopentane
One of the primary growth drivers of global cyclopentane market is the rising concerns over the environment. This has led to the increasing uptake of cyclopentane in insulating freezers and refrigerators. Elaborates the lead analyst of our report, "Cyclopentane is a hydrocarbon that is highly flammable. It finds application in the manufacture of resins, synthetic rubber, and rubber adhesives. Further, it also finds application as a blowing agent for polyurethane foam that is used to insulate freezers and refrigerators. This is mainly because of its non-existent OPD and low GWP. This means they do not contain chemicals that can harm the ozone layer in the atmosphere. Besides, cyclopentane is also cost-effective. In fact, most of the manufacturers in the global cyclopentane market are involved in the production of the product for the refrigeration industry. Cyclopentane is not as much a potent global warming agent as fluorocarbons. For the very same reason, it is being increasingly preferred as a blowing agent in manufacture of polyurethane foams."
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Building and Construction Boom Fuels Global Cyclopentane Market
The global cyclopentane market is also receiving a major fillip from the building and construction industry. It is mainly used for insulation purpose in the area. Explains the lead analyst, "In the domain of building and construction, rigid PUR foam panels are mainly meant to insulate flat roofs, ceilings, saddle roofs, walls, and floors."
In fact, the global cyclopentane market is receiving maximum fillip from the burgeoning Asia Pacific construction industry.
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The review is based on the findings of a TMR report, titled, "Cyclopentane Market (Product - Foam-blowing Agents, Solvents and Reagents; Application - Residential Refrigerators, Commercial Refrigerators, Insulating Construction Materials, Analytical and Scientific Applications) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018-2026."
The report segments the Global Cyclopentane Market into the following:
Global Cyclopentane Market, by Product
- Foam-blowing Agents
- Solvents & Reagents
Global Cyclopentane Market, by Application
- Residential Refrigerators
- Commercial Refrigerators
- Insulating Construction Materials
- Analytical & Scientific Applications
- Others (including Insulating Containers and Sippers)
Global Cyclopentane Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East & Africa
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