Market Size of Cyclopentane Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 398.89 Million |
| Market Size (2029) | USD 584.21 Million |
| CAGR (2024 - 2029) | > 7.50 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Cyclopentane Market Analysis
The Cyclopentane Market size is estimated at USD 398.89 million in 2024, and is expected to reach USD 584.21 million by 2029, growing at a CAGR of greater than 7.5% during the forecast period (2024-2029).
The COVID-19 pandemic hampered the cyclopentane market. Due to nationwide lockdowns in several countries, strict social distancing measures, and disruption in global supply chain networks, the refrigerant industry was severely hit as most of the production plants and industries were shut down. However, the market registered a significant growth rate well after the restrictions were lifted. The market registered a growth rate due to the rising usage of cyclopentane in various applications, such as refrigeration, insulation, and chemical solvents.
- The growing demand for cyclopentane in blowing agent applications to manufacturing polyurethane and the increasing usage in refrigeration applications are expected to drive the market for cyclopentane.
- On the flip side, the availability of better substitute products and health-related issues associated with cyclopentane is expected to hinder the growth of the market.
- The increasing use of blowing agents in construction and automotive applications is expected to create opportunities for the market during the forecast period.
- The Asia-Pacific region is expected to dominate the market owing to the rising demand for cyclopentane from refrigeration, insulation, and chemical solvent applications.
