Cyclopentane Market: Insulating Construction Material to Represent a Leading Segment
Growth of the global cyclopentane market is mainly bound to micro-economic and macro-economic factors.
[USPRwire, Wed Mar 06 2019] Growth of the global cyclopentane market is mainly bound to micro-economic and macro-economic factors. As the need for storing stock of food products in a particular temperature arise, adoption of the refrigerators and freezers continue to remain high. In addition, growing need for storing range of medical devices and products in low temperature conditions will further continue to rev up demand for refrigeration products in the healthcare industry. Surge in adoption of refrigerators and freezers in the food and beverage, healthcare, and pharmaceutical industry will continue to boost sales of the insulators globally.
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Growing need for the environment friendly insulators has led to an upsurge in demand for the cyclopentane products in the global market. In addition, increasing production of the refrigeration products is projected to impact the global market growth of cyclopentane positively. Fact.MR states that the cyclopentane market is projected to reflect a CAGR of 5.9% over the forecast period.
Surge in production of adhesives and coatings for packaging purposes will continue to rev up demand for resins globally. As demand for resins continues to increase for the production of fiberglass reinforcements, composite materials and carbon fiber, sales of cyclopentane is projected to increase globally. Growing production of composite materials, adhesives, carbon fiber and fiberglass reinforcement is further projected to contribute towards the global market growth of cyclopentane.
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As the need for insulators in the refrigerator products continue to increase, demand for the foam-blowing agents is expected to remain high. On the basis of product type, the foam-blowing agents segment is expected to represent significant growth in terms of volume, accounting for over 99,200 units by the end of 2026. In addition, the foam-blowing agents product type segment is expected to register a significant CAGR throughout the forecast period.
On the other hand, various factors will continue to inhibit the global market growth of cyclopentane significantly. Increasing ingestion of cyclopentane by the manufacturers during the process of production can result in nausea and vomiting attributed to the irritation in gastrointestinal tract. Exposure of central nervous system to cyclopentane is further likely to result in dizziness, excitement, unconsciousness, and lightheadedness. In addition, increasing exposure to the cyclopentane products can also be fatal attributed to the respiratory disorders. Such factors are projected to contribute towards the global market growth of cyclopentane over the forecast period.
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Leading market players operating in the global cyclopentane market include Chevron Phillips Chemical Company LLC, Dymatic Chemicals, Inc., Beijing Eastern Acrylic Chemical Technology Co., Ltd., LG Chem, Ltd., Yeochun NCC Co. Ltd., Trecora Resources, INEOS Group Ltd., Merck & Co. Ltd, Maruzen Petrochemical Co., Ltd., Haldia Petrochemicals Limited, ZEON Corporation, Exxon Mobil Corporation, and HCS Group GmbH.