Application of cyclopentane in residential refrigerators is anticipated to surge at a CAGR 7.5% and top US$ 233 Mn by 2031

UNITED STATES, December 3, 2021 /EINPresswire.com/ -- Cyclopentane market value to increase at a high CAGR 7.4% over the forecast period of 2021 to 2031 and reach US$ 770 Mn. Cyclopentane sales were valued at US$ 367 Mn in 2020. Global cyclopentane consumption stood at around 216 kilo tons in 2020, which is poised to increase at a volume CAGR of around 6.8% through 2031.

The global cyclopentane (C Pentane) market will continue to be influenced by broader developments in the refrigerant and construction industries and resonate strong consumption potential, evaluates Fact.MR, a market research and competitive intelligence provider.

Stringent government regulations has led to bans on hydro chlorofluorocarbons (HCFCs) used as refrigerants in different applications such as freezers, air conditioners, refrigerators, etc., resulting in replacement with cyclopentane as an eco-friendly alternative. This has led to the creation of an absolute $ opportunity for the market of around US$ 393 Mn. Moreover, increasing application of cyclopentane as a foam-blowing agent is expected to push up the market valuation to over US$ 700 Mn by 2031.

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Key Takeaways from Market Study
• Global cyclopentane market is anticipated to add nearly 2X value by 2031.
• Demand for foam-blowing agents is anticipated to hold dominance over the forecast period and surge at a CAGR 7.5%.
• Insulating construction material application has the highest use case potential of cyclopentane in terms of market acceptance. This application segment is anticipated to surge at a CAGR of 7.3% over the decade.
• Cyclopentane use in residential refrigerator application is projected to grow 1.6X in value by 2031. Housewear application, on the other hand, is projected to grow 2.1X in value over the same time period.

Key Segments Covered in Cyclopentane Industry Research
By Product Type
• Foam-blowing Agent
• Solvents and Reagents

By Purity
• Below 90% Cyclopentane
• 90-95% Cyclopentane
• 95% and Above Cyclopentane

By Application
• Residential Refrigerators
• Commercial Refrigerators
• Insulated Containers and Sippers
• Insulating Construction Material
• Analytical and Scientific Applications
• Others

What is the Demand Scenario for Cyclopentane in the U.S.?
The U.S. cyclopentane market accounted for 89% the market share in 2020 in North America, and created an absolute $ opportunity of US$ 75 Mn. The U.S. has a well-established market for cyclopentane, which is mainly attributed to high demand for polyurethane (PU) foams from the growing construction sector in the country.

Additionally, the pandemic relief package of US$ 1.9 Tn stimulus is anticipated to raise infrastructure spending. In terms of infrastructure investments, the United States was rated 39th in the world in 2018. This includes putting in pricing infrastructure to encourage the use of green buildings.

In terms of value, sales of cyclopentane 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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Some Notable Offerings by Fact.MR Report on Cyclopentane market:
• We will provide you an analysis of the extent to which this Cyclopentane market research report acquires commercial characteristics along with examples or instances of information that helps you to understand it better.
• We will also help to identify customary/ standard terms and conditions, as offers, worthiness, warranty, and others.
• Also, this report will help you to identify any trends to forecast growth rates.
• The analyzed report will forecast the general tendency for supply and demand.

Report Benefits & Key Questions Answered
• Cyclopentane Category and segment level analysis: Fact MR offers detailed analysis of the factors influencing the sales prospect across key segments. Cyclopentane category analysis provides deep insights into customer experiences, emerging trends and growth drivers. The vital information highlighted in this section will enable market players to make timely business decision to gain competitive advantage.
• Cyclopentane manufacturing trend analysis: A key aspect of the study is comprehensive Cyclopentane manufacturing trend analysis. These insights provide vital information on how market players are coping with latest trends that are prevailing in the market.
• Innovation and acquisition activity in Cyclopentane: The report highlights in detail the various organic and inorganic strategies adopted manufacturers in order to gain a competitive edge in Cyclopentane market. Adoption of various technologies are being discussed in detail.
• Cyclopentane demand by country: The report forecasts the country wise demand for Cyclopentane between 2021 and 2031. By analyzing this section of the report, Cyclopentane manufacturers can accordingly invest in those regions where the demand is on the rise.
• Post COVID consumer spending on Cyclopentane: The Fact.MR market survey also highlights the impact of COVID-19 on medical devices industry. These insights provide vital information on how market players are executing their manufacturing strategies to coup with the COVID-19 pandemic.
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