LONDON--(BUSINESS WIRE)--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.
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 analysis
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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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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