Cyclopentane Market: By Function (Solvent & Reagent, Blowing Agent & Refrigerant and Others), By Application (Commercial Refrigerators, Electrical & Electronics, Fuel & Fuel Additives, Insulated Containers and Sippers, Insulating Construction Materials, Personal Care Products, Residential Refrigerators and Others) and Geography

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Cyclopentane Market size was valued at USD 284.8 million in 2022 and is expected to grow at a CAGR of 7.9% from 2023 to 2029. The global market provides a detailed overview of the Cyclopentane market, and that can be segmented by function and by application. Cyclopentane is a kind of highly flammable alicyclic hydrocarbon that is used in the production of synthetic rubber and resins and adhesives and also alters the phase of the cellular construction of polyurethane insulating foam utilized in commercial refrigerators. By function, the Cyclopentane market has been segmented into Solvent & Reagent, Blowing Agent & Refrigerant, and Others. The Blowing Agent segment is likely to be the largest and fastest-growing segment in terms of function. Based on Application, the Cyclopentane market is segmented into Commercial Refrigerators, Electrical & Electronics, Fuel & Fuel Additives, Insulated Containers and Sippers, Insulating Construction Materials, Personal Care Products, Residential Refrigerators, and Others. Among these, the commercial refrigerators segment is expected to have the fastest-growing market during the forecast period 2023-2029. The usage of cyclopentane in commercial freezers has given the market a new possibility. Cyclopentane is a foam-blowing agent usually used to insulate refrigerators and freezers. The commercial refrigerator industry is growing at a healthy rate around the globe, with the Asia Pacific dominating the way. The significance of commercial refrigerators is also rising as a result of altering climatic circumstances, which has caused in agricultural waste due to inadequate storage selections. According to studies, greater than a quarter of the harvest never comes to the market due to defective cooling. The rising populations require efficient delivery of food to evade famine, illness, and hunger. Commercial refrigeration systems have been more significant as a result, and governments worldwide are backing them to continue keeping food fresh and enhancing its shelf life. Moreover, because of its enhanced advantages over conventional foaming agents, cyclopentane is acquiring significant power as a foaming agent in the polyurethane foam business. Additionally, cyclopentane reduces emissions of greenhouse gas (GHG) during the insulation procedure of refrigerator production.

Key Developments:

In February 2021, HCS Group and Gevo contracted a tactical agreement in Germany to grow low-carbon renewable chemicals and Sustainable Aviation Fuel (SAF). In June 1, 2020, SK Global Chemical acquired the high-performance polymer business of Arkema.

Cyclopentane Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

7.9%

Largest Market

Asia pacific

Fastest Growing Market

Europe

Cyclopentane Market Drivers

The increasing government regulations on the usage of CFCs, HCFCs, and HFCs and increasing demand for better alternatives are anticipated to propel the market growth over the forecast years. Moreover, the rising number of ingenuities to phase out the usage of hydrochlorofluorocarbons is burgeoning the market growth over the forecast years.

Asia-Pacific Got Significant Share