Global Cyclopentane Market to Reach New Heights by 2033: Comprehensive Size and Share Analysis

 The global cyclopentane market is projected to be valued at approximately US$ 448.7 million in 2023, with expectations of a compound annual growth rate (CAGR) of 7.0%, leading to an estimated value of US$ 882.6 million by the conclusion of 2033.

Cyclopentane belongs to the cycloalkane category and is extensively utilized in the production of resins, rubber adhesives, and synthetic rubber. Additionally, it serves as a blowing agent for polyurethane insulating foam. Due to its lack of hydro-fluorocarbon (HFC) content, cyclopentane is also employed in the insulation of refrigerators and freezers.

The global cyclopentane (C Pentane) market is anticipated to be significantly impacted by ongoing trends in the refrigerant and construction sectors, reflecting a robust consumption potential, according to an evaluation by Fact.MR, a provider of market research and competitive intelligence.

The implementation of stringent government regulations has resulted in the prohibition of hydro chlorofluorocarbons (HCFCs) utilized as refrigerants in various applications, including freezers, air conditioners, and refrigerators. This has prompted a shift towards cyclopentane as a more environmentally friendly alternative, creating a substantial market opportunity estimated at approximately US$ 393 million. Furthermore, the growing use of cyclopentane as a foam-blowing agent is projected to elevate the market value to over US$ 700 million by 2031.

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What is the Demand Scenario for Cyclopentane in the U.S.?

In 2020, the cyclopentane market in the United States represented 89% of the North American market share, generating an absolute opportunity valued at US$ 75 million. The robust demand for cyclopentane in the U.S. can be primarily attributed to the increasing need for polyurethane (PU) foams, driven by the expanding construction industry.

Furthermore, the recent pandemic relief package, amounting to US$ 1.9 trillion, is expected to boost infrastructure spending significantly. In 2018, the United States was ranked 39th globally in terms of infrastructure investments, which includes initiatives aimed at promoting the adoption of green building practices.

In terms of market value, cyclopentane sales in the U.S. are projected to grow at a compound annual growth rate (CAGR) of 7%, reaching a valuation exceeding US$ 152 million by 2031.

Market Titans Key Strategies

Prominent cyclopentane manufacturers are Chevron Phillip Chemical Company, Dynamatic Chemical, Beijing Eastern Acrylic Chemical Technologies, LG Chem, and Yeochun NCC Co. Ltd.

Leading market players in the cyclopentane market are continuously focusing on long-term supply contracts and collaborations with end-use industries. Companies are also investing in research and development to discover new areas of application for cyclopentane.

Old Source: https://www.einpresswire.com/article/557430671/cyclopentane-market-in-the-u-s-are-anticipated-to-increase-at-a-cagr-of-7-and-be-valued-over-us-152-mn-by-2031

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