ALBANY, New York, Feb. 13, 2020 /PRNewswire/ -- As per a recent report by Transparency Market Research report, the market is expected to witness a substantial growth during the tenure of 2018 to 2026. The market is majorly driven by the growth in the demand for the chemical in various consumer goods manufacturing industry. Majorly the rubber industry propels the growth of the market due to demand for various applications of rubber in variety of industries. As per the report, the global cyclopentane market is anticipated to reach a value of US$ 533.31 Mn with 6.6% CAGR during the tenure of 2018 to 2026.
"Cyclopentane is the key ingredient in the production of industrial rubber equipment. These rubbers may vary in shape, size, density, and carbon constituents. With careful and precise addition of cyclopentane in the manufacturing process, it can deliver the required strength along with physical and chemical properties in the rubber. This criticality of cyclopentane in rubber manufacturing is the major factor that is propelling the growth of global cyclopentane market from 2018 to 2026." –Transparency Market Research
For better understanding of the readers, the report classifies the global cyclopentane market into various segments. These segments allow the reader with impactful actionable insights so that they can avail better future in the global cyclopentane market. Some of the major segments of the market are as mentioned:
Foam-blower segment is expected to dominate the product category. This is due to the widespread industrial application of the foam-blower ceramic and chemical industries.
On the basis of application, the refrigeration industry is expected to witness an exponential growth during the forecast tenure. This is because of the restricted or no use of hydrochlorofluorocarbons and chloroflorocarbon compounds in various cooling appliances under Montreal Protocol. Moreover, the development of various stringent regulations by several governments across the world has also restricted the use of HFCs and CFCs. This further accelerates the adoption of cyclopentane in refrigeration industry. Hence the segment is expected to dominate the market during the tenure.
Explore the latest study on global cyclopentane market under the title:Cyclopentane Market (Product - Foam-blowing Agents, Solvents and Reagents; Application - Residential Refrigerators, Commercial Refrigerators, Insulating Construction Materials, Analytical and Scientific Applications) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026 at https://www.transparencymarketresearch.com/cyclopentane-market.html
Global Cyclopentane Market: Key Drivers
The growing demand for eco-friendly refrigeration solutions is the prime factor that propels the growth of global cyclopentane market. Similar insights in the Transparency Market Research report help the readers to understand the dynamics of the global cyclopentane market. Some of the key drivers that are playing essential role in boosting the growth of the market are mentioned below:
Growth in the demand for the insulators in construction materials is the prime reason that propels the growth of the global cyclopentane market. This is because the construction materials have to deal with immense temperature and pressure, hence the insulation is a must in such equipment. Therefore, demand for insulators in construction industry is the major factor that propels the growth of global cyclopentane market.
Growing use of the polyurethane foam in refrigeration industry is also a crucial factor that propels the growth of the global cyclopentane market during the tenure of 2018 to 2026.
Major Challenges in Global Cyclopentane Market
For better understanding, the report enlists the challenges that might impact the growth of global cyclopentane market along with the positive aspects. These insights help the players to make better decisions for a sustainable growth during the tenure. Some of the challenges that might impede the growth of the global cyclopentane market are enlisted below:
Major factor that impedes the growth of the global cyclopentane market is the high flammability of the compound. Cyclopentane ignites with a large explosion in when comes in contact with a spark or fire. This can bring the users and asset around in danger and can be highly risky for the property around. This is the major factor that hampers the growth of global cyclopentane market.
Storage of cyclopentane further poses a tough challenge for the growth of global cyclopentane market. This is because the market is highly reactive and can react to moisture present in the air. This can result in the development of hazardous fume that might be lethal for the person who inhales it. This challenge of effective storing the compound is the major roadblock for the growth of global cyclopentane market.
Though there are several roadblocks that might impede the growth of the market, however the technological developments that are under process, might help the global cyclopentane market to sustain its momentum and showcase the mentioned growth during the tenure of 2018 to 2026, says Transparency Market Research.
Europe is expected to be the largest region of the global cyclopentane market. This is because of the growing industrialization in countries like Germany. These industries are thriving to develop eco-friendly refrigeration solutions.
Development of various technologies like IoT and AI by companies in Germany also help the players to develop sensors that can monitor any leakage of cyclopentane in any form that might prove to be catastrophic. These developments further boost the dominance of Europe in the global cyclopentane market during the tenure of 2018 to 2026.
Analyze Cyclopentane Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study,
At present, the global cyclopentane market is moderately fragmented as the majority of the market share is help by emerging players. Since the players have limited resources, they are engaging themselves into strategies such as mergers and collaborations to stay ahead of the curve and acquire a competitive edge over their rivals.
Foam Blowing Agents Market - The foam blowing agents market reached a valuation of $1.4 bn in 2018. The rising demand will likely drive a notable CAGR of 6% growth in the blowing agents market during 2018-2026.
Polyurethane Foam Market - Global polyurethane foam market is expected to grow to US$74 bn by 2022, rising from US$51.4 bn in 2015. The market is prognosticated to reflect a robust CAGR of 7.6% in the forecast period.
Polyalkylene Glycol Market - The global polyalkylene glycol market was valued at ~US$ 10.2 Bn in 2018 and is anticipated to expand at a CAGR of ~11% from 2019 to 2027.
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