WILMINGTON, Del., U.S.A., Transparency Market Research, Inc., Oct. 21, 2024 (GLOBE NEWSWIRE) — The global cyclopentanone (Cyclopentanone) market is expected to grow at a CAGR of 3.6% during the period 2023-2031. Transparency Market Research estimates that total cyclopentanone sales revenue is expected to reach US$180.4 million by the end of 2031. Cyclopentanone is used as a solvent and chemical intermediate in the aerospace and defense industries, particularly in the production of specialty coatings and composites for aircraft and military equipment.
       The demand for high-purity cyclopentanone in the electronics industry is growing. Cyclopentanone is used in the production of photoresists and solvents in semiconductor manufacturing processes due to the growing demand for consumer electronics and advanced semiconductor devices. Cyclopentanone is a precursor for the synthesis of polymer additives such as stabilizers and antioxidants.
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       Considering the growing demand for polymeric materials in various industries such as automotive and construction, the demand for cyclopentanone in this application segment is expected to grow steadily. Cyclopentanone is used in the formulation of specialty adhesives and sealants due to its excellent solvent properties and compatibility with a wide range of polymers. The growing construction and automotive industries are driving the demand for such adhesives and sealants, thereby contributing to the growth of the market.
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       The cyclopentanone market is highly competitive, driven primarily by growing demand from end-use industries such as pharmaceuticals, agrochemicals, and flavors and fragrances. Key players such as BASF SE, Tokyo Chemical Industry Co., Ltd., and Merck KGaA dominate the market with their extensive product portfolios and global distribution networks. New competitors are focusing on product innovation and strategic collaborations to gain market share.
       Stringent regulatory standards and sustainability initiatives are shaping competition as companies invest in green production practices and comply with environmental regulations to remain competitive in this dynamic and evolving industry.
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