Cyclopentanone with the chemical formula C6H5O is the smallest cyclic enol ether with an alcohol functional group holding five carbon atoms. It is a chemical used to make vitamin A and develop perfumes, including synthetic camphor and musk xylene. The increasing demand for personal care products is anticipated to bolster industrial growth. According to Business Research Insights, the cyclopentanone market size was valued at USD 1,915.11 million in 2020 and is anticipated to grow at a CAGR of 8.66% during the forecast period. The increasing craze for perfumes and aromas among the population is projected to surge the demand for these chemicals.
Uses of Cyclopentanone
Cyclopentanone, also known as Adipic Ketone, is a colorless oily liquid. This chemical is used in various industries due to its beneficial composition. It is used in pharmaceutical, personal care products, rubber and chemicals, electronics, and insecticides. It is mainly used in developing perfumes and aromas. The multi-use property of this chemical is a beneficial aspect to ensure market growth.
Halted Manufacturing Amid Pandemic to Impede Growth
The COVID-19 pandemic had a negative impact on industrial development due to stringent restrictions imposed by governments. Also, the production and manufacturing operations were restricted to control the virus spread by maintaining social distancing norms. Furthermore, the closure of national borders affected supplies of raw materials and the sales rate of companies. The import/export policies were altered post-pandemic to bolster business growth and encourage leading companies to increase their production.
Business Research Insights Lists the Profiles of 10 Leading Companies Operating in the Industry.
1. Solvay Specialty Polymers (Belgium)
Solvay Specialty Polymers was established in 1863 and is headquartered in Belgium. The company provides a variety of products in several industries such as automotive, aerospace, consumer goods, electronics, and healthcare.
2. BASF SE(Germany)
BASF SE is a multinational brand producing and processing chemicals. The company was established in 1865 and is headquartered in Germany. The company is known to operate in various business verticals such as chemicals, plastics, performance chemicals, crop technology, catalysts, crude oil, coatings, and natural gas exploration.
3. Zeon Corporation (Japan)
Zeon Corporation was established in 1950 and is headquartered in Tokyo, Japan. Zeon is known as one of the leading companies in the chemical industry and is focusing on emerging as a brand in the coming years. Also, the company plans to globalize its brand by providing its services worldwide.
4. Caffaro Industrie (Italy)
Caffaro Industrie was established in 2008 and is one of the world's leading chemical companies. The company produces various chemicals, including ketones, special esters, and polycarbonate diols. Caffaro Industrie provides its products globally to enhance its product portfolio.
5. Freesia Chemicals (India)
Freesia Chemicals is headquartered in India and provides its services globally. The company manufactures various specialty chemicals required in different industries. The chemicals produced are cyclopentanone, cyclopentanol, cyclopentyl bromide, cyclopentyl chloride, cyclopentyl amine, alpha tetralone, alpha tetralol, and others.
6. Zhejiang NHU Co. Ltd. (China)
Zhejiang NHU Co. Ltd was established in 1999 and is headquartered in China. The company has been awarded with Zhejiang Provincial Technology Invention Awards. Zhejiang NHU Co. Ltd focuses on producing high-quality products to meet customer demand and propel growth.
7. WanXiang International (China)
WanXiang International was founded in 1969 and is headquartered in China. The company is one of the leading multinational brands providing its products and services globally. WanXiang International is focusing on improving its business performance by increasing its production rate.
8. Shandong Guorun Petrochemicals Co. Ltd. (China)
The company is headquartered in China and has grown as a globalized brand. Shandong Guorun Petrochemicals Co. Ltd. produces various chemicals that are used in several industries. Also, the company’s mission is to provide feasible and efficient services to customers.
Future of the Chemical Industry
The increasing demand for personal care products is anticipated to drive industrial growth in the coming years. Also, rising R&D activities and increasing investment in producing high-end products are major growth factors. Furthermore, the increasing need for cyclopentanone in the chemical industry is expected to foster industrial growth and improve the business growth rate of leading companies.