The Cyclopentane Market Size was valued at USD 360 million in 2023 and is expected to reach USD 544 million by 2031 and grow at a CAGR of 5.3% over the forecast period 2024-2031.
The cyclopentane market is experiencing growth driven by the healthcare and pharmaceutical industries demanding better storage solutions for blood, medicine, and other temperature-sensitive products.
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This results to rise in demand for cyclopentane-based refrigeration due to its superior insulation properties. Growing population with a focus on environmental responsibility is fueling the demand for energy-efficient appliances. This translates to increased use of cyclopentane in low Ozone Depletion Potential (ODP) refrigerators, a trend likely to continue. stricter government regulations are phasing out harmful chemicals like HCFCs and promoting eco-friendly alternatives like cyclopentane. This push is particularly evident in North America and is expected to drive similar growth in Africa, Latin America, and the Middle East as these regions adopt stricter environmental policies.
KEY DRIVERS:
HCFC Phase-Out Paves the Way for Cyclopentane in Insulation Manufacturing.
Hydrochlorofluorocarbons (HCFCs) were introduced as a replacement for Chlorofluorocarbons (CFCs) due to their lower impact on the ozone layer. Developing countries began phasing out HCFC-141b, a common type, with a complete ban planned by 2030. The global effort is driven by the Montreal Protocol, to protect the ozone layer by depleting various substance. As HCFCs are phased out, cyclopentane is expected to become a more popular choice. This environmentally friendly blowing agent is used in the manufacturing of insulation materials. The growing demand for cyclopentane is a consequence of the global trend towards phasing out HCFCs
RESTRAIN:
High capital investment in cyclopentane market can be challenging
The cyclopentane market faces a significant problem due to high costs. From building production facilities to staying compliant with regulations, significant capital is required. Compliance changes, technological advancements, and market volatility further complicate matters. Companies must also continuously invest in R&D to stay competitive, all while navigating a potentially fluctuating market. Careful risk assessment is crucial for companies considering entry into the cyclopentane market.
OPPORTUNITY:
Blowing agent boom in construction, automotive, and appliances drives cyclopentane demand.
Blowing agents are gaining traction across construction, automotive, and appliance manufacturing. These industries value their ability to create well-insulated and structurally sound polyurethane foam, thanks to the blowing agents' unique properties of insulation and physical integration. This trend is particularly evident in Europe and Asia's appliance sectors, where demand for cyclopentane, a popular blowing agent, has seen a significant rise. As these industries continue to expand, the need for blowing agents is expected to climb, further propelling the use of cyclopentane.
CHALLENGES:
Cost of cyclopentane can be volatile, influenced by raw material prices and production capacity.
Cyclopentane is made from petroleum-based materials, and high oil prices could lead directly to higher production costs for cyclopentane. Manufacturers then face a balancing act absorb the cost or pass it on, potentially impacting customer relationships. Another factor is supply and demand. If demand is growing and outpaces production, prices jump. Conversely, a production glut can lead to temporary price dips. This volatility makes budgeting and planning a nightmare for manufacturers. Transportation costs, import duties, and regional production capacity all play a role, creating headaches for companies operating internationally.
The impact of the Russia-Ukraine war has majorly affected the Cyclopentane market. This could disrupt the supply of key raw materials from Russia, a major producer, leading to potential shortages and price hikes. The war's impact on energy prices is another concern. Cyclopentane production is energy-intensive, and the surge in oil and gas costs could squeeze profit margins for manufacturers. Cyclopentane is used in downstream industries like construction insulation and refrigeration. If the war dampens economic activity and reduces demand for these products, it could indirectly impact Cyclopentane demand as well. The disrupted supply chain could push manufacturers to explore alternative sources for raw materials or production facilities, fostering a more geographically diverse Cyclopentane market in the long term.
The impact of the economic downturn has slowed down the Cyclopentane market. Construction activity, a key consumer of Cyclopentane for insulation, is likely to decline, leading to a direct drop in demand. Similarly, a dip in consumer spending could dampen the demand for refrigerators and other appliances that rely on Cyclopentane insulation. The competitive landscape might also heat up, with manufacturers pressured to lower prices to maintain sales volume, potentially impacting profit margins. Economic uncertainty can further disrupt the market by causing delays in construction projects and appliance purchases, postponing the need for Cyclopentane in the short term.
By Function
Blowing agent & refrigerant
Solvent & reagent
Others
The market for blowing agents and refrigerants is projected to be dominated by the sub-segment in the cyclopentane market in 2023 by function. This is driven by cyclopentane's widespread use in creating polyurethane foam insulation. This foam is in high demand across construction, refrigeration, automotive, and appliance industries due to its excellent insulating properties. The trend towards energy efficiency is being fueled by stricter regulations, environmental concerns, and a growing focus on sustainability. This has significantly boosted the demand for cyclopentane as a blowing agent. Additionally, the phase-out of ozone-depleting substances has pushed the market towards more eco-friendly alternatives, further propelling cyclopentane's dominance in the blowing agent and refrigerant segment.
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By Application
Residential Refrigerator
Commercial Refrigerator
Insulated Containers And Sippers
Insulating Construction Material
Electrical & Electronics
Personal Care Products
Fuel & Fuel Additives
Others
Insulated containers and sippers is dominating in the cyclopentane market in 2023 by application. Because cyclopentane helps create fantastic polyurethane foam insulation. This keeps food, drinks, medicine, and anything else needing a stable temperature perfectly chilled or hot. This amazing insulation is key for all those containers you see everywhere – from picnic coolers to grocery delivery bags. The trend towards convenience and grabbing food on-the-go is driving this demand. Plus, stricter rules on food safety mean keeping things cold is more important than ever. So, with more and more people needing to keep their stuff at the perfect temperature, insulated containers and sippers are using cyclopentane more than any other application, making them the market leader.
North America
Europe
Asia pacific
Middle East & Africa
Latin America
Asia Pacific region is dominating the cyclopentane market, holding a whopping 44% share in 2023. This dominance is fueled by two factors: a booming electrical and appliance industry that relies on cyclopentane, and a regional shift away from HCFCs (harmful chemicals) thanks to the Montreal Protocol. Plus, there are lots of cyclopentane manufacturers in Asia Pacific, making the raw material readily available. China, the region's leader, is also the world's biggest cyclopentane producer, and this trend is expected to continue. Meanwhile, Europe takes the silver medal with a significant projected growth rate. While not quite Asia Pacific's level, Europe has a strong cyclopentane industry that's likely to stay a major player for years to come.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Some of the major players in the Cyclopentane Market are HCS Group (Germany), Zeon Corporation (Japan), Jilin Beihua Fine Chemical Co., Ltd. (China), Junyuan Petroleum Group (China), Dymatic Chemical,Haldia Petrochemicals Limited (India), INEOS (UK), Liaoning Yufeng Chemical Co., Ltd. (China), SK Global Chemical Co., Ltd. (South Korea), Maruzen Petrochemical (Japan), and other players.
In 1st September 2023: HCS Group, a leading supplier of specialty hydrocarbon products, announced the successful completion of their acquisition by the International Chemical Investors Group (ICIG). This means HCS Group, with its 500 employees worldwide, is now officially part of ICIG, a private industrial group. Within ICIG, HCS Group will become the foundation for a brand new strategic business platform.
In August 2023: HCS Group and Lufthansa Group teamed up to develop eco-friendly Sustainable Aviation Fuel (SAF) from plant waste. Production begins in 2026 at HCS's Germany facility. This partnership is a major step towards cleaner skies.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 360 Million |
| Market Size by 2031 | US$ 544 Million |
| CAGR | CAGR of 5.3% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Function (Blowing agent & refrigerant, Solvent & reagent, Others) •By Application (Residential Refrigerator, Commercial Refrigerator, Insulated Containers And Sippers, Insulating Construction Material, Electrical & Electronics, Personal Care Products, Fuel & Fuel Additives, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | HCS Group (Germany), Zeon Corporation (Japan), Jilin Beihua Fine Chemical Co., Ltd. (China), Junyuan Petroleum Group (China), Dymatic Chemicals, Inc. (China), Haldia Petrochemicals Limited (India), INEOS (UK), Liaoning Yufeng Chemical Co., Ltd. (China), SK Global Chemical Co., Ltd. (South Korea), Maruzen Petrochemical (Japan) |
| Drivers | • HCFC Phase-Out Paves the Way for Cyclopentane in Insulation Manufacturing. |
| Opportunity | • Blowing agent boom in construction, automotive, and appliances drives cyclopentane demand. |
Ans: The Cyclopentane Market is expected to grow at a CAGR of 5.3%.
Ans: Cyclopentane Market size was USD 360 million in 2023 and is expected to Reach USD 544 million by 2031.
Ans: Increasing use of Electric Vehicle On-board Charger is major driver for the market.
Ans: Compatibility and interoperability issues to restrain the market growth.
Ans: North America is expected to hold the largest market share in the global Cyclopentane Market during the forecast period.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact Of Russia Ukraine War
5.2 Impact of Economic Slowdown
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Average Selling Price
9.1 North America
9.2 Europe
9.3 Asia Pacific
9.4 Latin America
9.5 Middle East & Africa
10. Cyclopentane Market Segmentation, By Function
10.1 Introduction
10.2 Trend Analysis
10.3 Blowing agent & refrigerant
10.4 Solvent & reagent
10.5 Others
11. Cyclopentane Market Segmentation, By Application
11.1 Introduction
11.2 Trend Analysis
11.3 Residential Refrigerator
11.4 Commercial Refrigerator Insulated
11.5 Containers And Sippers
11.6 Insulating Construction Material
11.7 Electrical & Electronics
11.8 Personal Care Products
11.9 Fuel & Fuel Additives
11.10 Others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 Trend Analysis
12.2.2 North America Cyclopentane Market by Country
12.2.3 North America Cyclopentane Market By Function
12.2.4 North America Cyclopentane Market By Application
12.2.5 USA
12.2.5.1 USA Cyclopentane Market By Function
12.2.5.2 USA Cyclopentane Market By Application
12.2.6 Canada
12.2.6.1 Canada Cyclopentane Market By Function
12.2.6.2 Canada Cyclopentane Market By Application
12.2.7 Mexico
12.2.7.1 Mexico Cyclopentane Market By Function
12.2.7.2 Mexico Cyclopentane Market By Application
12.3 Europe
12.3.1 Trend Analysis
12.3.2 Eastern Europe
12.3.2.1 Eastern Europe Cyclopentane Market by Country
12.3.2.2 Eastern Europe Cyclopentane Market By Function
12.3.2.3 Eastern Europe Cyclopentane Market By Application
12.3.2.4 Poland
12.3.2.4.1 Poland Cyclopentane Market By Function
12.3.2.4.2 Poland Cyclopentane Market By Application
12.3.2.5 Romania
12.3.2.5.1 Romania Cyclopentane Market By Function
12.3.2.5.2 Romania Cyclopentane Market By Application
12.3.2.6 Hungary
12.3.2.6.1 Hungary Cyclopentane Market By Function
12.3.2.6.2 Hungary Cyclopentane Market By Application
12.3.2.7 Turkey
12.3.2.7.1 Turkey Cyclopentane Market By Function
12.3.2.7.2 Turkey Cyclopentane Market By Application
12.3.2.8 Rest of Eastern Europe
12.3.2.8.1 Rest of Eastern Europe Cyclopentane Market By Function
12.3.2.8.2 Rest of Eastern Europe Cyclopentane Market By Application
12.3.3 Western Europe
12.3.3.1 Western Europe Cyclopentane Market by Country
12.3.3.2 Western Europe Cyclopentane Market By Function
12.3.3.3 Western Europe Cyclopentane Market By Application
12.3.3.4 Germany
12.3.3.4.1 Germany Cyclopentane Market By Function
12.3.3.4.2 Germany Cyclopentane Market By Application
12.3.3.5 France
12.3.3.5.1 France Cyclopentane Market By Function
12.3.3.5.2 France Cyclopentane Market By Application
12.3.3.6 UK
12.3.3.6.1 UK Cyclopentane Market By Function
12.3.3.6.2 UK Cyclopentane Market By Application
12.3.3.7 Italy
12.3.3.7.1 Italy Cyclopentane Market By Function
12.3.3.7.2 Italy Cyclopentane Market By Application
12.3.3.8 Spain
12.3.3.8.1 Spain Cyclopentane Market By Function
12.3.3.8.2 Spain Cyclopentane Market By Application
12.3.3.9 Netherlands
12.3.3.9.1 Netherlands Cyclopentane Market By Function
12.3.3.9.2 Netherlands Cyclopentane Market By Application
12.3.3.10 Switzerland
12.3.3.10.1 Switzerland Cyclopentane Market By Function
12.3.3.10.2 Switzerland Cyclopentane Market By Application
12.3.3.11 Austria
12.3.3.11.1 Austria Cyclopentane Market By Function
12.3.3.11.2 Austria Cyclopentane Market By Application
12.3.3.12 Rest of Western Europe
12.3.3.12.1 Rest of Western Europe Cyclopentane Market By Function
12.3.2.12.2 Rest of Western Europe Cyclopentane Market By Application
12.4 Asia-Pacific
12.4.1 Trend Analysis
12.4.2 Asia Pacific Cyclopentane Market by Country
12.4.3 Asia Pacific Cyclopentane Market By Function
12.4.4 Asia Pacific Cyclopentane Market By Application
12.4.5 China
12.4.5.1 China Cyclopentane Market By Function
12.4.5.2 China Cyclopentane Market By Application
12.4.6 India
12.4.6.1 India Cyclopentane Market By Function
12.4.6.2 India Cyclopentane Market By Application
12.4.7 Japan
12.4.7.1 Japan Cyclopentane Market By Function
12.4.7.2 Japan Cyclopentane Market By Application
12.4.8 South Korea
12.4.8.1 South Korea Cyclopentane Market By Function
12.4.8.2 South Korea Cyclopentane Market By Application
12.4.9 Vietnam
12.4.9.1 Vietnam Cyclopentane Market By Function
12.4.9.2 Vietnam Cyclopentane Market By Application
12.4.10 Singapore
12.4.10.1 Singapore Cyclopentane Market By Function
12.4.10.2 Singapore Cyclopentane Market By Application
12.4.11 Australia
12.4.11.1 Australia Cyclopentane Market By Function
12.4.11.2 Australia Cyclopentane Market By Application
12.4.12 Rest of Asia-Pacific
12.4.12.1 Rest of Asia-Pacific Cyclopentane Market By Function
12.4.12.2 Rest of Asia-Pacific Cyclopentane Market By Application
12.5 Middle East & Africa
12.5.1 Trend Analysis
12.5.2 Middle East
12.5.2.1 Middle East Cyclopentane Market by Country
12.5.2.2 Middle East Cyclopentane Market By Function
12.5.2.3 Middle East Cyclopentane Market By Application
12.5.2.4 UAE
12.5.2.4.1 UAE Cyclopentane Market By Function
12.5.2.4.2 UAE Cyclopentane Market By Application
12.5.2.5 Egypt
12.5.2.5.1 Egypt Cyclopentane Market By Function
12.5.2.5.2 Egypt Cyclopentane Market By Application
12.5.2.6 Saudi Arabia
12.5.2.6.1 Saudi Arabia Cyclopentane Market By Function
12.5.2.6.2 Saudi Arabia Cyclopentane Market By Application
12.5.2.7 Qatar
12.5.2.7.1 Qatar Cyclopentane Market By Function
12.5.2.7.2 Qatar Cyclopentane Market By Application
12.5.2.8 Rest of Middle East
12.5.2.8.1 Rest of Middle East Cyclopentane Market By Function
12.5.2.8.2 Rest of Middle East Cyclopentane Market By Application
12.5.3 Africa
12.5.3.1 Africa Cyclopentane Market by Country
12.5.3.2 Africa Cyclopentane Market By Function
12.5.3.3 Africa Cyclopentane Market By Application
12.5.3.4 Nigeria
12.5.3.4.1 Nigeria Cyclopentane Market By Function
12.5.3.4.2 Nigeria Cyclopentane Market By Application
12.5.3.5 South Africa
12.5.3.5.1 South Africa Cyclopentane Market By Function
12.5.3.5.2 South Africa Cyclopentane Market By Application
12.5.3.6 Rest of Africa
12.5.3.6.1 Rest of Africa Cyclopentane Market By Function
12.5.3.6.2 Rest of Africa Cyclopentane Market By Application
12.6 Latin America
12.6.1 Trend Analysis
12.6.2 Latin America Cyclopentane Market by Country
12.6.3 Latin America Cyclopentane Market By Function
12.6.4 Latin America Cyclopentane Market By Application
12.6.5 Brazil
12.6.5.1 Brazil Cyclopentane Market By Function
12.6.5.2 Brazil Cyclopentane Market By Application
12.6.6 Argentina
12.6.6.1 Argentina Cyclopentane Market By Function
12.6.6.2 Argentina Cyclopentane Market By Application
12.6.7 Colombia
12.6.7.1 Colombia Cyclopentane Market By Function
12.6.7.2 Colombia Cyclopentane Market By Application
12.6.8 Rest of Latin America
12.6.8.1 Rest of Latin America Cyclopentane Market By Function
12.6.8.2 Rest of Latin America Cyclopentane Market By Application
13. Company Profiles
13.1 HCS Group (Germany)
13.1.1 Company Overview
13.1.2 Financial
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Zeon Corporation (Japan)
13.2.1 Company Overview
13.2.2 Financial
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Jilin Beihua Fine Chemical Co., Ltd. (China)
13.3.1 Company Overview
13.3.2 Financial
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Junyuan Petroleum Group (China)
13.4.1 Company Overview
13.4.2 Financial
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Dymatic Chemicals, Inc. (China)
13.5.1 Company Overview
13.5.2 Financial
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Haldia Petrochemicals Limited (India)
13.6.1 Company Overview
13.6.2 Financial
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 INEOS (UK)
13.7.1 Company Overview
13.7.2 Financial
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Liaoning Yufeng Chemical Co., Ltd. (China)
13.8.1 Company Overview
13.8.2 Financial
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 SK Global Chemical Co., Ltd. (South Korea)
13.9.1 Company Overview
13.9.2 Financial
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Maruzen Petrochemical (Japan)
13.10.1 Company Overview
13.10.2 Financial
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. USE Cases And Best Practices
16. Conclusion
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