Cyclopentane Market to exceed USD 565.7 million by 2032, Says Global Market Insights inc.
Cyclopentane Industry size is expected to register 6.9% CAGR between 2024 and 2032 propelled by increasing demand for energy-efficient insulation materials.
Selbyville, Delaware, July 01, 2024 (GLOBE NEWSWIRE) — Cyclopentane Market will reach a valuation of USD 565.7 million by 2032, as per a
Charged up Asia Pacific Set the Pace
Asia Pacific cyclopentane industry will exhibit a healthy growth rate between 2024 and 2032, owing to increasing industrialization and stricter environmental regulations. As countries like China, India, and South Korea expand their production sectors, the need for sustainable and efficient materials rises. Cyclopentane, with its low global warming potential, is favored in the production of polyurethane foams used in construction and refrigeration. Government policies encouraging eco-friendly alternatives and the growth of the consumer electronics market thrust the adoption of cyclopentane. The focus of Asia Pacific on energy efficiency and environmental sustainability propels the demand for cyclopentane, reflecting broader global trends toward greener industrial activities.
Cyclopentane Market Players
Major players in the Cyclopentane Industry include DYMATIC Chemicals, Inc., Chevron Phillips Chemical Company LLC, SK Global Chemical Co., Ltd., Huntsman Corporation, LG Chem, Merck KGaA, INEOS, Prasol Chemicals Pvt. Ltd., TCI Chemicals, Zhejiang Weihua Chemical Co., Ltd., Haltermann Carless, and Eastman Chemical Company.
Key cyclopentane manufacturers are strengthening their competitive positions by aggressively investing in research and development, aiming to improve product quality and manufacturing. Strategic alliances and acquisitions are expanding their market footprint and diversifying their product range to meet evolving customer needs. These companies also use advanced technologies such as robotics and data analytics to drive innovation and maintain a competitive edge. A customer-centric approach, in line with comprehensive support services, ensures seamless integration and customer satisfaction. This early strategic plan positions these companies as leaders in the cyclopentane industry, poised for growth.
In May 2024, Merck signed a Memorandum of Understanding (MoU) with the Korea Advanced Institute of Science and Technology (KAIST). This venture stimulates collaborative research in industry to progress in life sciences.
In September 2023, A technology portal was launched by Huntsman Corporation. This platform aims to connect innovators and manufacturers.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
CONTACT: Aashit Tiwari Corporate Sales, USA Global Market Insights Inc. Toll Free: +1-888-689-0688 USA: +1-302-846-7766 Europe: +44-742-759-8484 APAC: +65-3129-7718 Email: [email protected]
