H1 2023: In the first half of 2023, the Cyclopentane market in the Asia Pacific region faced mixed conditions. Following the Lunar holidays, there was an upward trend in the price of Cyclopentane due to heightened inquiries, coupled with an increase in the price of feedstock Benzene in the Chinese market. The rise in Feedstock Benzene prices in China was attributed to the surge in market trading activities post the spring day festival, driven by increased demand from downstream industries and stable product inventory levels. Conversely, India experienced a declining price trend as the price of upstream crude oil decreased in the country. During the initial of the second quarter of 2023, a notable upswing in Cyclopentane prices was evident in the Chinese market. This surge was initially prompted by certain supply issues in the region. However, later in the quarter, prices experienced a decline due to sluggish demand from downstream refrigerant and related industries. Moreover, the insulating construction material sector, a significant consumer of Cyclopentane, faced a downturn since the beginning of the quarter, attributed to a weaker-than-expected property sector. Additionally, in an attempt to alleviate inflationary pressures in the region, the Asian government raised interest rates substantially, dampening consumer purchasing enthusiasm. The industrial growth rate decreased from April 2023 to May 2023, indicating reduced economic activity and potential impacts on Cyclopentane demand in the Chinese market.
The global Cyclopentane market stood at approximately 1400 thousand tonnes in 2022 and is anticipated to grow at a healthy CAGR of 4.5% during the forecast period until 2032.
Cyclopentane, a versatile chemical compound, finds widespread applications across various industries. Notably, it serves as a crucial blowing agent in the production of polyurethane foams, contributing to the insulation properties of products like refrigerators, freezers, and thermal insulation materials. Its role as a solvent is evident in applications within the rubber and resin manufacturing processes, as well as in diverse chemical synthesis endeavors. As a key building block in organic chemistry, cyclopentane plays a pivotal role in the synthesis of various chemicals and pharmaceuticals. In the realm of fuel technology, it acts as an additive, enhancing combustion efficiency and reducing emissions. Cyclopentane functions as a blowing agent in polyurethane foams, playing a crucial role in insulating refrigerators and freezers. Laboratories utilize this compound in chemical reactions and experimental setups, showcasing its adaptability in scientific research. Furthermore, cyclopentane serves as a component in specialized coatings and adhesives, contributing to the formulation of materials with unique properties. Its role extends to consumer goods, where it acts as an aerosol propellant in products like spray paints.
Cyclopentane market is driven by the utilization of cyclopentane in refrigerators, serving crucial roles as both refrigerant and insulation material, enhancing the longevity of temperature-sensitive products. Cyclopentane is employed to make polyurethane foams, playing a crucial role in insulating refrigerators. As the refrigeration and cooling industry expands, especially in sectors like food, pharmaceuticals, and healthcare, cyclopentane experiences increased usage in the production of refrigeration equipment and insulated products. Simultaneously, the segment related to insulated containers and sippers is attributed to the expanding application of cyclopentane as a blowing agent in the manufacturing of insulated products, leveraging its commendable thermal insulation properties. The global Cyclopentane market size is anticipated to reach nearly 2180 thousand tonnes by 2032.
Based on region, Asia Pacific region is the biggest consumer of Cyclopentane. The Asia Pacific region is strategically positioned to maintain its leadership in the Cyclopentane market due to several factors. Firstly, the region's robust economic growth and industrialization have led to an increased demand for refrigeration and insulation applications, where Cyclopentane is widely used. Additionally, the rising population and changing consumer lifestyles in countries like China and India contribute to the growing demand for refrigerators, freezers, and other cooling appliances, further driving the Cyclopentane market. Moreover, the region's focus on sustainable and energy-efficient solutions aligns with Cyclopentane's eco-friendly attributes, making it a preferred choice. As the manufacturing hub for various industries, including electronics and appliances, the Asia Pacific region is likely to witness sustained demand for Cyclopentane, solidifying its dominant position in the market.
Based on the end-user industry, the global Cyclopentane market is divided into Refrigerators, Insulated Containers and Sippers, Insulating Construction Material. Electronics and Electricals, and Others. However, Refrigerator industry dominates the global Cyclopentane market.
Major players in the Global Cyclopentane market are HCS Group GmbH, Dymatic Chemicals, Inc., Chevron Phillips Chemical Company, SK geo centric Co. Ltd, LG Chem, Maruzen Petrochemical, Liaoning Yufeng Chemical Co, Ltd, Haldia Petrochemicals Limited, YEOCHUN NCC CO. LTD, SOUTH HAMPTON RESOURCES, ZEON CORPORATION, Puyang Zhongwei Fine Chemical Co. Ltd., and Others.
Years considered for this report:
Historical Period: 2015- 2021
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Cyclopentane which covers production, demand and supply of Cyclopentane market in the globe.
• To analyse and forecast the market size of Cyclopentane
• To classify and forecast Global Cyclopentane market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Cyclopentane market in the globe.
To extract data for Global Cyclopentane market, primary research surveys were conducted with Cyclopentane manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Cyclopentane market over the coming years.
ChemAnalyst calculated Cyclopentane demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Cyclopentane. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Cyclopentane manufacturers and other stakeholders
• Organizations, forums and alliances related to Cyclopentane distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Cyclopentane manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Cyclopentane market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
1400 thousand tonnes
Market size Volume in 2032
2180 thousand tonnes
Growth Rate
CAGR of 4.50% from 2023 to 2032
Base year for estimation
2022
Estimated Year
2023
Historic Data
2015 – 2021
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Refrigerators, Insulated Containers and Sippers, Insulating Construction Material. Electronics and Electricals, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Member - Board of Directors
Osaka Gas Co. Ltd
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What was the net market size of Cyclopentane in terms of volume in 2022?
Ans:
The global market size of Cyclopentane had reached approximately 1400 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Cyclopentane?
Ans:
Asia Pacific region is the leading consumer of Cyclopentane globally.
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