Cyclopentane Market Size, Share, Growth Report 2032

Industry Prospective:

The global cyclopentane market size was worth around USD 401 Million in 2022 and is predicted to grow to around USD 680 Million by 2030 with a compound annual growth rate (CAGR) of roughly 7.30% between 2023 and 2030.

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The report analyzes the global cyclopentane market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the cyclopentane industry.

Cyclopentane Market: Overview

Cyclopentane, represented by molecular formula C5H10, is a cyclic hydrocarbon. It belongs to the compound class known as cycloalkanes. The characteristic that best describes this form of the compound is ring formation by saturated hydrocarbons. In cyclopentane, the ring is made up of five carbon atoms that are bonded together in a pentagonal shape. Each carbon, in turn, is also bonded with two hydrogen atoms.

The compound is a colorless and clear liquid when kept at room temperature. It shows a relatively lower boiling point which stands at 49 °C and is highly volatile. Although it can mix in several organic solvents, it is insoluble in water. Its primary function is that of a blowing agent used during the production of polyurethane foams, including flexible and rigid versions. The compound is most popular for its low global warming potential (GWP) compared to other commonly used blowing agents.

Key Insights: 

• As per the analysis shared by our research analyst, the global cyclopentane market is estimated to grow annually at a CAGR of around 7.301% over the forecast period (2023-2030)
• In terms of revenue, the global cyclopentane market size was valued at around USD 401 Million in 2022 and is projected to reach USD 680 Million, by 2030.
• The cyclopentane market is projected to grow at a significant rate due to the growing demand for polyurethane foams
• Based on application segmentation, insulation & construction material was predicted to show maximum market share in the year 2022
• Based on functional segmentation, blowing agent & refrigerant was the leading segment in 2022
• On the basis of region, Asia-Pacific was the leading revenue generator in 2022

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Cyclopentane Market: Growth Drivers

Increasing demand for polyurethane foams to drive market growth

The global cyclopentane market is projected to witness a high growth rate owing to the growing demand for polyurethane foams. They are a type of versatile polymer with the aid of a reaction between polyols & diisocyanates and in the presence of a blowing agent. Polyurethane foams have a wide range of applications across end-user verticals and the demand is mainly driven due to the desirable properties and versatility of the product. Some of the most common applications of polyurethane foams include its use as an insulator in buildings, refrigeration systems, and appliances.

Furthermore, these foams are also used in the production of high-grade furniture and bedding products such as cushions, mattresses, and pillows. They provide the users with comfort, support, and durability. Other mainstream applications include use in footwear production, the automotive industry, and appliances. Polyurethane foams cannot be produced without the help of a blowing agent and cyclopentane is one of the preferred choices.

Cyclopentane Market: Restraints

High flammability and safety concerns to restrict market expansion

One of the key restraints that exists in the global cyclopentane market is the high flammability of cyclopentane. Since it is flammable, the storage of the compound and its handling requires strict and stringent safety measures. Any negligence can result in an explosion or fire hazard. With the growing concerns over the safety surrounding the use of cyclopentane can result in increased costs due to high expenses associated with transportation, storage, and use of cyclopentane.

Cyclopentane Market: Opportunities

Growing demand for energy-efficient solutions to provide growth opportunities

The global cyclopentane industry is expected to benefit from the rising demand for energy-efficient solutions across industries. The world and its leaders are focusing on the development of processes and products that promote sustainable growth. Products such as polyurethane foams that are made with the use of cyclopentane offer excellent thermal insulation properties and hence can assist in reduced consumption of energy in buildings, appliances, and other products. The industry players can grab the opportunities thus arising.

Cyclopentane Market: Challenges

Regulatory compliance to challenge market growth

Cyclopentane is subject to strict regulations and standards related to environmental impact, safety, and handling. Some of these aspects can be witnessed in the growing restrictions on ozone-depleting substances and limits on global warming potential (GWP). This can pose a major challenge for the cyclopentane industry players to overcome as they will have to keep up with the ever-evolving regulations and ensure proper documentation and reporting to ensure being defaulted by the governing bodies.

Cyclopentane Market: Segmentation

The global cyclopentane market is segmented based on application, function, and region.

Based on application, the global market segments are insulation & construction materials, refrigerators, personal care products, fuel & fuel additives, electrical & electronics, and others. The industry was dominated by the insulation & construction material segment in 2022 due to the higher use of the compound in the production of rigid polyurethane foam insulation panels.

They are subsequently used for thermal insulation purposes across industries including buildings, refrigeration systems, appliances, and cold storage facilities. However, the compound also has several other applications. For instance, it is used as a blowing agent in the production of refrigerator and freezer insulation, providing thermal insulation and energy efficiency. It is also used in personal care products such as hairsprays and foaming cleansers. Its main role is that of a propellant. Cyclopentane’s melting point is −94 °C

Based on function, the global market segments are solvent & reagent, blowing agent & refrigerant, and others. The cyclopentane industry growth was led by the blowing agent & refrigerant segment in 2022. It assists in the production of polyurethane foams due to its low boiling point which allows it to vaporize and create the cellular structure of the foam during the foaming process. Since it has a low environmental impact, it is also used extensively as a refrigerant. Its application as a solvent & reagent is noteworthy since it serves as a medium for various synthesis reactions. Some examples of its application as a solvent are in terms of synthesis of various organic compounds and in the production of pharmaceutical products. Cyclopentane may be used as a cleaning solvent in electronics manufacturing processes. The compound has received a flammability rating of 3 by the National Fire Protection Association.

Recent Developments:

• In January 2023, Daikin, a leading provider of high-quality, advanced air conditioning solutions for residential, commercial, and industrial purposes, announced its plan to invest over USD 75 million in a new plant in Japan. The site will be used for the production of Daikin’s low GWP refrigerant R474A which is meant for electric vehicle air conditioning systems. The plant is expected to be completely functional by 2027
• In November 2022, Daikin Middle East and Africa FZE showcased the next generation of the Monoblock refrigeration solution. The unveiling occurred at the Gulfood Manufacturing 2022, which is one of the leading events for UAE’s food manufacturing industry. The product is developed using R-290 and inverter technology and has minimal impact on the environment
• In May 2022, Blue Star announced the launch of a new range of deep freezers after doubling its production capacity at its state-of-the-art facility in the Wada region of India

Cyclopentane Market: Report Scope

Cyclopentane Market: Regional Analysis

Asia-Pacific to control a majority of the market share

The global cyclopentane market was dominated by Asia-Pacific in 2022 and it controlled over 40% of the global industry share. The regional growth is driven by the existence of excellent production facilities in the growing economies of India, China, and other Southeast Asian nations. With the rapid rate of urbanization along with industrialization, important industries such as construction, consumer appliances, and refrigeration systems are growing at a surging rate. Since 2000, China has reported high demand for cooling systems. More than 60% of the Chinese homes are equipped with AC systems and it is expected to cross 85% by 2030. China is also one of the largest producers of cyclopentane, with a strong presence in the polyurethane foam insulation industry. As these regions have witnessed rising environmental concerns, they are more likely to adopt the use and production of cyclopentane.

Cyclopentane Market: Competitive Analysis

The global cyclopentane market is led by players like:

• Chevron Phillips Chemical Company LLC
• SK Global Chemical Co. Ltd.
• Haldia Petrochemicals Ltd.
• LG Chem Ltd.
• Dymatic Chemicals Inc.
• Maruzen Petrochemical Co. Ltd.
• Merck KGaA
• Eastman Chemical Company
• Haltermann Carless
• Chevron Corporation
• INEOS Group Holdings S.A.
• ISOPA (European Diisocyanate and Polyol Producers Association)
• Honeywell International Inc.
• BASF SE
• Mitsui Chemicals Inc.
• Huntsman Corporation
• TotalEnergies SE
• PetroChina Company Limited
• The Dow Chemical Company
• LyondellBasell Industries N.V.
• Repsol S.A.
• Saudi Basic Industries Corporation (SABIC)
• Formosa Plastics Corporation
• Covestro AG
• China National Petroleum Corporation (CNPC).

The global cyclopentane market is segmented as follows:

By Application

• Insulation & Construction Material
• Refrigerators
• Personal Care Products
• Fuel & Fuel Additives
• Electrical & Electronics
• Others

By Function

• Solvent & Reagent
• Blowing Agent & Refrigerant
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa