The global cyclopentane market is expected to post a CAGR close to 6%
during the period 2019-2023, according to the latest market research
report by Technavio.
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Technavio has published a new market research report on the global cyclopentane market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the growing demand for
foam blowing agents from the automotive and construction industries. The
global automotive industry has been registering an increase in the
demand for foam blowing agents such as cyclopentane. Cyclopentane is
used extensively used for the manufacture of interior components of cars
such as seats, headrests, armrests, roof liners, dashboards, and the
instrument panel. Also, these foams are widely used in the production of
different automotive parts such as side skirts, wiper cowls, roll pans,
and bumpers. In the construction industry, PU foams are used in floor
carpets, foam-cored entry doors, and garage doors. This has led to an
increase in demand from the housing and hospitality segments. Therefore,
high demand from the automotive and construction industries will drive
the demand for cyclopentane over the forecast period.
As per Technavio, the technological advances in refrigeration systems
will have a positive impact on the market and contribute to its growth
significantly over the forecast period. This global
cyclopentane market 2019-2023 research report also
analyzes other important trends and market drivers that will affect
market growth over 2019-2023.
Global cyclopentane market: Technological
advances in refrigeration systems
The impending energy and environmental regulations on refrigerators have
led the appliance industry to focus on improvements in the mechanical
components and PU foam. The appliance PU industry has been investigating
blowing agents with improved thermal gas conductivity The recent need
for improved insulation values to meet the changes in energy codes along
with the introduction of the fourth generation blowing agents such as
cyclopentane, will boost market growth. Therefore, increasing
technological changes in refrigeration systems will have a high positive
impact on the global cyclopentane market during the forecast period.
“The rise in demand for eco-friendly refrigerators from consumer
electronics industry and the use of green foams in the packaging
industry are two other major factors that are expected to drive the
global cyclopentane market during the forecast period,” says a senior
analyst at Technavio.
Global cyclopentane market: Segmentation
This market research report segments the global cyclopentane market by
application (refrigerators, insulated construction materials, electrical
and electronics, and others) and geographical regions (APAC, Europe,
North America, MEA, and South America).
The APAC region led the market in 2018, followed by Europe, North
America, MEA, and South America respectively. However, during the
forecast period, North America is expected to register the highest
incremental growth due to the increase in demand for manufacturing foams
in the healthcare and consumer goods industries.
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Five Forces Analysis
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