The global cyclopentane market is expected to rise at a very promising 8% CAGR during the period of assessment from 2020 to 2030. The Fact.MR report states that the cyclopentane market is expected to be adversely affected in the short term during the coronavirus crisis. The decline in manufacturing activities of household appliances and consumer electronics during the pandemic will hurt the short-term prospects of the cyclopentane market.
"The rising demand for food products in controlled temperature environments is boosting the demand for refrigeration and freezing applications. Similar uses in consumer appliances will support market growth following the end of the pandemic for the foreseeable future," says the Fact.MR analyst.
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Cyclopentane Market - Important Takeaways
- Function of cyclopentane as a refrigerant and blowing agent is contributing substantially to revenue, driven by extensive use in commercial and household refrigerator production.
- Refrigeration applications of cyclopentane are rapidly gaining traction owing to rise in food and beverage industries.
- Asia Pacific is a major cyclopentane market supported by the presence of major refrigeration product manufacturers. North America is also gaining ground with high adoption rates of consumer appliances.
Cyclopentane Market - Driving Factors
- Material innovations in refrigerator protection products is a key growth factor.
- Demand for eco-friendly alternatives to HCFCs in refrigeration and freezing applications to bolster market growth.
- Niche demand for cyclopentane as an insulation material in construction projects creates growth opportunities.
Cyclopentane Market - Leading Constraints
- Health risks associated with cyclopentane restricts adoption rates.
- High capital cost for purchase and installation procedures restrains cyclopentane applications.
Anticipated Market Impact by Coronavirus Outbreak
The coronavirus outbreak has disrupted cyclopentane supply chains around the world and hurt production activities, as a result of lockdown measures imposed by governments around the world. The pandemic has also reduced demand for consumer appliances such as stabilizers and refrigerators in the short term. Also, the suspension of construction activities will also hurt market prospects. However, recovery will be steady, as the industry is likely to remain affected by economic uncertainty, even after the pandemic comes to an end.
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Competition Landscape
Leading producers in the cyclopentane market are Haldia Petrochemicals Ltd., Chevron Phillips Chemical Co., Maruzen Petrochemical Co., Dymatic Chemicals Inc., and Merck & Co. Inc. Major manufacturers are focusing on expansion of production capacities to keep up with demand, in addition to collaborations with end product manufacturers. For instance, BASF has entered into a collaboration with Whirlpool for the production of residential refrigerators which use cyclopentane.
More on the Report
The FACT.MR's market research report provides in-depth insights on cyclopentane market. The market is scrutinized according to product type (foam-blowing agent, and solvent & reagents), and application (residential refrigerators, commercial refrigerators, insulated containers & sippers, insulating construction material, and analytical & scientific application, and others) across six key regions (North America, Latin America, Europe, Japan, Asia Pacific excluding Japan, and Middle East and Africa).
Press Release: https://www.factmr.com/media-release/1521/cyclopentane-market-trends
Fact.MR has recently published a fresh study centered at the global cyclopentane market.
This report helps to determine the exact reasons for cyclopentane market expansion and its utility across diverse end-user segments.Based on research insights, the imperative nature of commercial refrigerators is escalating due to fluctuating climatic circumstances which has caused wastage of harvested crops as a result of inadequate storage choices.
As per external studies, more than one- fourth share of the harvested crops never touch the market due to unfitting refrigeration facilities.
This study diligently states vital market facets related to the global cyclopentane market such as market size (US$ Mn), supply chain, pricing analysis, Y-o-Y growth, revenue (US$ Mn) & volume, market share comparison and a lot more.Request Sample Report- https://www.factmr.com/connectus/sample?flag=S_id=371Cyclopentane for Commercial Refrigerators Transforming Market SpaceWith rising population, the need to proficiently deliver food to lessen the impacts of famine diseases and hunger have advanced.
Cyclopentane being the primary foaming agent linked to polyurethane foam manufacturing, gets an additional boost with the proliferation of the commercial refrigeration sector.
It is expected that, the following years would prove highly beneficial for cyclopentane market as improvisations with commercial refrigeration are already underway.Shifting Regulatory Landscape Impacting Cyclopentane MarketAt present, greenhouse gas emissions are posing increased threat to the environment, thereby, pushing regulatory authorities to take strict measures.
A detailed study by Fact.MR on the Cyclopentane market provides an in-depth evaluation of various growth drivers, trends, and opportunities, the prevailing regulatory landscape in various regions, and the competitive scenario amidst the COVID-19 pandemic.
The global cyclopentane market is projected to witness an uptick, registering an impressive growth rate of 8% by 2030.
This positive development can be ascribed to improvements in the quality of fridge protection materials, supplanting of HCFCs with cyclopentane as a frothing specialist for polyurethane froths, and reception of cyclopentane by noticeable cooler makers as an alternative over ozone depleting substance producing materials in the protection procedure.
The report provides insight into the major drivers and key restraining factors, emerging trends, and sources of new revenue streams over the assessment period.
It provides a detailed scenario of the existing demand and consumption patterns of various key product types.
Companies covered in the study includeChevron Phillips Chemical Company LLC.Dymatic Chemicals, Inc.LG Chem., Ltd.Yeochun NCC Co. LtdTo Know More Information about This Report, Ask The Analyst @ https://www.factmr.com/connectus/sample?flag=AE_id=371How Insights and Analysis by Fact.MR Make Difference?
Over the forecast period of 2020 to 2030, the global Cyclopentane market would grow at a steady rate of 8%, states Fact.MR in a recent study.
It also delineates details on the opportunities that are set to emerge in the market over this period.
The information is provided on a granular level and would furnish players with actionable market insights that would support informed decision-making.It is quite pertinent to note here that the ongoing COVID-19 pandemic is impacting the market in a major way.
With global economy plummeting and trade volumes taking a serious hit, it is all the more crucial to deep-dive into CFC market’s Growth dynamics and to evaluate the situation with a sharp eye.
The factual information and in-depth analysis presented in the report will allow players to formulate innovative strategies, achieving the goal of putting the best foot forward.Fact.MR’s market study claims that several trends and drivers will underscore growth in the global Cyclopentane market over the stated assessment period.
It is noteworthy here that Fact.MR undertook extensive research to prepare the comprehensive study on Cyclopentane market.
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The earwax removal aid includes micro-suction device, earwax removal irrigation kits, earwax removal drops, earwax removal loops, earwax removal syringes, and portable ear cleaning devices.
According to the Fact.MR report, retail sales, especially in developing regions, is projected to show remarkable growth, due to easy availability of over-the-counter earwax removal aids.Request Sample Report - https://www.factmr.com/connectus/sample?flag=S_id=4100The healthcare industry is consistently witnessing an uplift in the number of ENT surgeries every year, globally, due to rising prevalence of ENT-related disorder.
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