Global Cyclopentanone Market to register $130.0 Mn growth by 2020
Zion Market Research has published a new report titled “Cyclopentanone Market for Pharmaceuticals, Biological, Perfumes & Aromas, Rubber Chemicals, Insecticides and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020.” According to the report, global demand for cyclopentanone was valued at USD 100.0 million in 2014, and is expected to reach USD 130.0 million in 2020, growing at a CAGR of 4.5% between 2015 and 2020.
Cyclopentanone is a cyclic ketone that is a colourless liquid having strong odor. It is also known as cyclopentanone, ketocyclopentane. It is derived from adipic acid at very high temperature in the existence of barium hydroxide. It is highly flammable liquid that is soluble with water and it is heavier than air. Cyclopentanone is an important intermediate chemical used in the production of rubber chemicals, insecticides, biological and pharmaceuticals.
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The major driving factor for cyclopentanone market is expanding pharmaceuticals industry on global scale. Increasing demand for cyclopentanone for the manufacturing of various chemicals is expected to drive demand for cyclopentanone in the years to come. Furthermore, cyclopentanone is likely to provide numerous opportunities in flexible electronic displays, pharmaceutical formulations in emerging economies.
Different application segments of the cyclopentanone market include pharmaceuticals, biological, perfumes & aromas, rubber chemicals, insecticides and other including electronic solvent, paints and varnish remover, and oil extraction. Perfumes and aromas was one of the largest application markets for cyclopentanone in 2014. However, pharmaceutical is also expected to exhibit rapid growth in demand during the forecast period. Rubber chemicals and insecticides segment are also important end markets for cyclopentanone and expected to witness strong growth in the near future.
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The global cyclopentanone market was dominated by Asia Pacific with largest share in total volume consumption in 2014. Demand for cyclopentanone in the region is primarily driven by strong demand from China. North America is another leading regional market for cyclopentanone due to increase in end-use applications in the region in 2014. Moreover, Europe and North America are also further expected to have significant growth during the estimated years between 2015 and 2020 owing to roust demand for fragrance versatility across the globe.
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The key players for the cyclopentanone market include Solvay, BASF, ZEON CHEMICALS, Zhejiang NHU Co., Ltd, Xinyi Dongsheng Chemical Co., Ltd, Shandong Guorun Chemical Co., Ltd, Company eight, Pearlk Chemical Materials (Qidong) Co., Ltd, Zhonggung Group, Liaoning Jiazhi Chemicals, Caffaro and WanXiang International.
The report segments the global cyclopentanone market as:
Cyclopentanone Market: Application Segment Analysis
- Perfumes and aromas
- Rubber chemicals
- Other (Including electronic solvents, paints and varnish removers, oil extraction)
Cyclopentanone Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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