Cycloalkanes Market Expected to Reach $9.1 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Cycloalkanes Market," The cycloalkanes market size was valued at $5.3 billion in 2021, and is estimated to reach $9.1 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031.

Cycloalkanes are used as crude oils that are frequently classed based on their chemical composition, which consists mostly of naphthenic and aromatic hydrocarbons. The cyclopentane series, with five carbon atoms in the ring, and the cyclohexenes, with a six-membered ring, are the most common mono cycloalkanes in crude oil.

Cycloalkanes are utilized in natural gas that is environmentally friendly and frequently used in light-duty vehicles. They can be used to create energy, heat water, bake foods, and power industrial furnaces. They are also used in industrial parts to prevent corrosion, oxidation, and thermal stability. Cycloalkanes are also utilized in diesel fuel, which is a more refined, heavier, oilier, and thicker variant of gasoline that can be compressed more effectively than gasoline. 

Further, cycloalkanes are commonly present in mothballs and other insect control treatments. They have a strong odor, making them pest repellents. Naphthalene, which kills moths and their eggs, is approved for indoor and outdoor household usage. Cycloalkanes are also utilized as anesthetic, which is a medicine that keeps patients from experiencing pain during surgical operations and helps patients rest throughout the treatment.

Besides, cycloalkanes are utilized as eco-friendly inks in the packaging sector, as well as for giving product information in hoardings, banners, and oothers Eco-friendly inks are those that use cycloalkanes as adhesive solvents as the base ingredient before adding pigments. Inks based on adhesive solvents can be utilized on a variety of pigments and surfaces.

The surge in demand from pharmaceutical and personal care industries is driving the market growth during the forecast period. Cycloalkanes are used as organic solvents in the pharmaceutical industry as reaction media, separation and purification of synthesis products, and cleaning of equipment. Cycloalkanes organic solvents are used in the production of an active pharmaceutical ingredient and a medicinal product.

Cycloalkanes are also demanded as an anesthetic drug, which is a necessary component of every surgical treatment. They are used to treat transient insanity and lack of defensive reflexes. Cyclohexane compound is specifically utilized in general anesthetic medications that block the activity of the central nervous system and cause a total loss of feeling.

They are also used in the production of hair products, perfumes, and detergents in the personal care industry. Dandruff, dry and itchy scalp, hair loss, and dull hair are some of the most common problems that cycloalkanes are used to treat in hair treatments. They are widely used in shampoos containing cyclopropane compound. Further, cycloalkanes are used for pigmentation purposes and also used as fragrances in the perfume manufacturing sector.

Cycloalkanes are also used as mineral oil which has been used in direct contact skin products such as hair oils, shampoo, suntan oils, cleaners and extenders. A vast number of people use anti-dandruff shampoos to treat dandruff. Due to anti-fungal properties of cycloalkanes, it is commonly utilized in anti-dandruff shampoos. Increased exposure to UV sun rays, as well as regular use of shampoos containing harsh cycloalkanes on one's hair, has driven the demand for nourishing treatments, including hair masks.   

However, toxic nature of cycloalkanes is projected to hinder the expansion of the market. On the contrary, rise in interest in eco-friendly blowing agent in the chemical industry is expected to offer ample growth opportunities for the cycloalkanes industry. 

The cycloalkanes market is segmented into type, application, and region. On the basis of type, the market is categorized into small rings, common rings, medium rings, and others. Common rings is the fastest growing segment with the highest CAGR. Common rings of cycloalkanes mainly include cyclopentane, cyclohexane, and cycloheptane. Cyclopentanes are cycloalkanes that are utilized to make synthetic rubber, resins, rubber adhesives, and as a blowing agent for polyurethane insulating foam.

Cyclohexane are used to make intermediates for nylon, which has a wide range of uses including clothes, tents, and carpets, as well as thermoplastics. Cycloheptane is a colorless, oily liquid which is water insoluble and less dense than water. It is a nonpolar solvent used in the chemical industry as well as an intermediary in the production of chemicals and pharmaceutical medicines.

On the basis of application, the market is categorized into pharmaceutical, personal care, oil and gas, and others. Region-wise, the cycloalkanes market share is studied across North America, Europe, Asia-Pacific, and LAMEA. 

The major players operating in the global cycloalkanes market include Alfa Aesar, Thermo Fisher Scientific, Ethos Chemical, Forecast Chemicals, Haldia Petrochemicals Limited, HCS Group, INEOS Group, Labdhi Chemicals, MARUZEN PETROCHEMICAL CO.,LTD., Reliance Industries Limited, and Tokyo Chemical Industry Co., Ltd. (TCI).

Key findings of the study:

• By type, the small rings segment was the highest revenue contributor to the market in 2021.
• By application, the oil and gas segment was the highest revenue contributor to the market in 2021.
• By region, Asia-Pacific held the largest share of the global cycloalkanes market in 2021.