COVID-19 Impact on Cyclopentylamine Market
- The COVID-19 outbreak is hampering the demand for cyclopentylamine in many applications. Governments of various countries across the globe enforced lockdown measures to curb the spread of the coronavirus. This has resulted in a slowdown and even a halt in recycling operations, thus hampering the demand for cyclopentylamine.
- Key players operating in the cyclopentylamine market are primarily tier I and tier II manufacturers and suppliers. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain.
- The COVID-19 outbreak has directly affected the production and demand for cyclopentylamine. The industrial shutdown caused by the COVID 19 pandemic has created disruption in the supply chain. Disruption in supply of raw materials is projected to hamper full-scale operations of companies operating in the market.
Key Drivers of Cyclopentylamine Market
- Cyclopentylamine is mainly used in agrochemicals, crop protection, and pharmaceutical industries. Demand for cyclopentylamine is increasing in these industries. This is anticipated to drive the cyclopentylamine market.
- Cyclopentylamine offers certain key features and benefits. It is a synthetic intermediate that is used in the manufacture of medicine. This is estimated to augment the cyclopentylamine market during the forecast period.
Restraints of Cyclopentylamine Market
- Cyclopentylamine is hazardous. It needs to be kept away from heat/sparks/open flames/hot surfaces. Furthermore, it should not be released into the environment.
- Cyclopentylamine has flash point at 17⁰C. Thus, it is highly flammable, highly toxic, and needs to be stored at optimum conditions.
- Extensive usage of the chemical causes health issues. This is also likely to hamper the market in the near future.
Asia Pacific to Constitute Significant Share of Global Cyclopentylamine market
- In terms of region, the global cyclopentylamine market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific dominated the global market in 2020. Asia Pacific is the largest market for cyclopentylamine products.
- North America and Europe are also some of the key consumers of cyclopentylamine. These regions are expected to account for growth in the cyclopentylamine market. The market in these regions is likely to expand at a moderate pace in the near future.
Competitive Landscape of Cyclopentylamine Market
- Major players operating in the global cyclopentylamine market are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. The market is currently witnessing fierce competition among several leading players. Key players operating in the market include:
- BASF SE
- TCI Chemical India Private Ltd.
- TCI Chemical Private Ltd.
- Mol Spark
- ZHEJIANG WANSHENG CO., LTD.
Global Cyclopentylamine Market
Global Cyclopentylamine Market, by Application
- Dye Stuffs
- Corrosion Inhibitors
Global Cyclopentylamine Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Cyclopentylamine Market: Introduction
- Cyclopentylamine is a five-membered alicyclic hydrocarbon having melting point -94°C and boiling point of about 49°C. Cyclopentylamine is a colorless liquid having a substituent of an amine group. It is a metabolite of cyclamate and used in the production of other organic matter.
- Cyclopentylamine is used in various applications such as chemical industry, agrochemicals, pharmaceuticals, dye stuff, and corrosion inhibitors. Thus, rise in usage of cyclopentylamine in various applications is expected to boost the market during the forecast period.