CHICAGO, October 19, 2018
CHICAGO, October 19, 2018 /PRNewswire/ --
According to the new market research report "Cyclopentane Market by Function (Blowing Agent & Refrigerant, Solvent & Reagent), Application(Residential Refrigerator, Commercial Refrigerator, Insulated containers and sippers, and others), and Region - Global Forecasts to 2023", published by MarketsandMarkets™, the Cyclopentane market is projected to grow from USD 242.4 million in 2018 to reach USD 335.7 million by 2023, at a CAGR of 6.7%. The growth of the market can be attributed to the use of cyclopentane as a blowing agent & refrigerant. The major drivers for the market include the phase-out of HCFCs by 85% by the late 2040s.
Don't miss out on business opportunities in Cyclopentane Market.
Speak to Our Analyst and gain crucial industry insights that will help your business grow:
Browse in-depth TOC on "Cyclopentane Market"
65 - Tables
42 - Figures
117 - Pages
View detailed Table of Content here:
Among function, the blowing agent & refrigerant market had the largest market share in 2017
On the basis of function, the cyclopentane market has been segmented into blowing agent & refrigerant, solvent & reagent, and others. The blowing agent & refrigerant segment accounted for the largest share of the cyclopentane market in 2017 and is projected to register the highest CAGR during the forecast period. The demand for cyclopentane is expected to increase, during the forecast period, owing to the planned phase-out of cyclopentane by 85% by the late 2040s.
The residential refrigerators segment is projected to register the highest CAGR between 2018 and 2023
The residential refrigerators segment is projected to record the highest CAGR in the cyclopentane market during the forecast period. In the residential refrigerators application, the use of existing blowing agents is expected to phase-out by 2030s, as they have high ODP and GWP. This factor has promoted the use of eco-friendly blowing agent & refrigerants, subsequently driving the demand for cyclopentane.
Request for Free Sample Report @ https://www.marketsandmarkets.com/requestsample.asp?id=147683634
APAC was the largest market for cyclopentane in 2017
The growth of the Cyclopentane Market in APAC is attributed to the increasing demand from the residential refrigerators and construction applications, where cyclopentane is used as a blowing agent and refrigerant. The low-cost and easy availability of raw materials, skilled labor, land, and equipment have helped APAC emerge as a key destination for appliances manufacturers, which, in turn, is increasing the use of cyclopentane.
HCS Group (Germany), Jilin Beihua Fine Chemical Co., Ltd. (China), DYMATIC Chemicals Inc. (UK), INEOS (UK), and Liaoning Yufeng Chemical Co., Ltd. (China) are the key players operating in the cyclopentane market.
Browse Adjacent Markets @ Specialty Chemicals Market Research Reports & Consulting
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/cyclopentane-market.asp
Visit Our Website: https://www.marketsandmarkets.com