Cyclopentane Market 2030: A Surge in Demand for Eco-Friendly Refrigerants
The global cyclopentane market was valued at USD 358.5 million in 2021 and is expected to reach USD 675.7 million by 2030, growing at a compound annual growth rate (CAGR) of 7.3% between 2022 and 2030. This growth is largely driven by rising demand for refrigerators, insulated containers, and insulating construction materials. Additionally, stringent government regulations aimed at phasing out hydrochlorofluorocarbons (HCFCs) are encouraging the increased adoption of cyclopentane as an environmentally friendly alternative. Growing awareness of cyclopentane’s broad applications and eco-friendly properties is also expected to bolster market demand. The COVID-19 pandemic had a negative impact on the cyclopentane industry due to national border closures and temporary shutdowns of industries and markets in 2020, which caused significant supply disruptions. However, increased demand from the medical and food sectors for refrigerators, freezers, and cold storage facilities positively ...