Cyclopentanol Market Size, Share, Growth, and Industry Growth, By Type (Industrial Grade Cyclopentanol, Pharmaceutical Grade Cyclopentanol), By Application (Organic Synthesis, Flavors, Industrial Solvent, and Others), Regional Forecast To 2031

Updated On: 01 April 2024

Cyclopentanol Market REPORT OVERVIEW

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The global cyclopentanol market size was USD 5 million in 2022 and is projected to touch USD 7.96 million by 2031, exhibiting a CAGR of 4.4% during the forecasting period.

The sudden spike in CAGR is attributed to the market's growth and demand returning to pre-pandemic levels once pandemic is over.

Cyclopentanol is a cyclic, colorless and alcoholic chemical or compound with a pleasant odor. It is a highly water-soluble chemical used widely in perfumes and the pharmaceutical industry. The chemical can be found in various food items such as walnuts, cashew nuts, and cauliflower, making it a potential biomarker for consuming these food products. It is derived from biomass fuels that have the potential for a green approach, benefiting the environment. Apart from these food items, it is also used in the production of spices and is an essential component. It acts as an important intermediate in the production of dyes and other organics.

Apart from being used in flavors and perfumes, the compound is used for organic synthesis and industrial solvents. It is beneficial in treating the eyes and is used by doctors frequently. The manufacturing of rubber adhesives and synthetic resins is also done with the help of the chemical. With the manufacturing and industrial market growing back to the pre-pandemic levels, the use and production of the compound will likely progress, and its demand will increase in the industrial market.

COVID-19 Impact: Easing of Curbs Has Propelled Market Growth

As the pandemic has receded, industrial production has boomed during the last six months. The demand for medicines, fragrances, and the industrial raw material is back to the pre-covid levels. COVID impacted the industry by increasing the demand for the chemical as the need for foods and medicines proliferated during the pandemic. However, industrial production took a hit because of this. The cyclopentanol market saw downsizing and the pandemic had its share of ups and downs for the requirement of the chemical. Disruptions in the manufacturing of raw materials impacted the industry gravely.

LATEST TRENDS

"Post-COVID Economic Recovery to Lead Market Growth"

As industries gain momentum again, the production of the compound will likely increase soon. Regions such as South Africa and Asia will benefit the most from these developments, as countries deal with a battered economy and find themselves on the road to recovery after the pandemic. The production of the compound in countries such as China and India will lead the way as investors look to diversify their investment channels.  Fragrances, perfumes, food flavors, industrial materials, and medicines produced in these regions will require the chemical in considerable quantities to meet their production demands.

Cyclopentanol Market Segmentation

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• By Type Analysis

Based on type, the market categorizes itself into industrial grade and pharmaceutical cyclopentanol.

 Industrial grade cyclopentanol is the top part of the type segment.

• By Application Analysis

Based on application, the market is divided into organic synthesis, flavors, industrial solvents, and others.

Organic synthesis is the leading part of the application segment.

DRIVING FACTORS

"Uses in Industries and Pharmaceuticals to Augment Market Growth"

Using the compound in organic synthesis and industrial production to produce raw materials will increase market sales. Rubber adhesives and synthetic resins use the chemical, likely improving the cyclopentanol market growth. Pharmaceuticals also use the chemical highly in bulk loads, thus increasing the market prospects. Furthermore, using the chemical to prepare dyes and medical drugs will increase its usefulness, thereby affecting the market demand. 

"Usage of the Compound in Food Products to Increase Market Demand"

The use of the compound in foods such as cashew nuts, walnuts, spices, cauliflower, and others will increase its demand. Countries such as India produce vast quantities of spices exported to the Western nations. Hence, India is a potential market for this chemical, as spice production highly depends on the availability of the compound. Other food items also require the chemical to some extent in their food products, which is likely to augment its demand.

RESTRAINING FACTORS

"Rising Prevalence of Health Concerns May Impede Market Growth"

The use of the chemical may be hazardous if inhaled or absorbed via the skin. Its highly flammable properties may likely cause concerns about the safety of industrial workers if they are not taken properly. Along with these factors, it may also release toxic gasses into the environment, which may cause suffocation, dizziness, and irritation. Contact with the chemical may also affect the skin and eyes, along with pollution concerns. Thus, utmost care must be taken while handling the highly flammable chemical.

Cyclopentanol Market REGIONAL INSIGHTS

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"Asia Pacific to Lead Production Due to Increase in Manufacturing Capacity"

With the pandemic receding, industrial production in developing countries is back to its prior levels. Asia Pacific will lead the cyclopentanol market share, with the top three global companies in this market and region owning nearly 80% stakes. China and India have considerable potential to expand their production capabilities and will leverage this opportunity to attract their Western customers. Investors should closely watch the developments in the market, as these countries dominate the world economy.

KEY INDUSTRY PLAYERS

The report analyzes different market players in the industry. The information is published after proper research, analysis of trends, key developments, the introduction of new initiatives, and technological developments and innovations. Other aspects of the report include a study on the companies, regions, automation, technological developments, and the impact of newly emerging industries along with their risks. The facts in the report may be subject to change, given the situation of market players from time to time.

List of Market Players Profiled

• Zhejiang NHU (China)
• Huangshan Basihui Chemical (China)
• Zeon (Japan)
• Sequins (U.S.)
• Freesia Chemicals (India)
• Xinyi Yongcheng Chemical (China)

INDUSTRY DEVELOPMENT

June 2022: Procaps SA, a leading pharmaceutical company, based in the U.S., is set to acquire Grupo Somar, a top market of chemicals in Mexico, thereby gaining importance in the region. Procaps SA is currently leading the market share in the pharmaceutical sector, which places it in an advantageous position compared to its competitors in countries such as China and India. The pharmaceutical giant aims to gain traction in Latin America with this strategic move.

REPORT COVERAGE

The report examines elements affecting the demand and supply sides and estimates dynamic market forces for the forecast period. The report offers drivers, restraints, and future trends. After evaluating governmental, financial, and technical market factors, the report also provides exhaustive PEST and SWOT analysis for regions. The research is subject to alteration if the key players and probable analysis of market dynamics change. The report is an approximate estimate of the factors mentioned, taken into consideration after thorough research.