Pentane Market Outlook - 2021–2030
The global pentane market size was valued at $105.7 million in 2020, and is projected to reach $159.8 million by 2030, growing at a CAGR of 4.3% from 2021 to 2030.
Pentane is an organic compound having chemical formula of C5H12, which consists of five carbon atoms that are linked together to form a single bond. It is a hydrocarbon, which possesses gasoline-like odor and is burnt as fuel. Pentane has several industrial uses, including its use to create blowing agent to further form a polystyrene.
Growth of global pentane market is driven by increase in demand for pentane from various end-user industries, low cost of pentane, and its beneficial chemical properties, including higher strength compared to other alkanes and superior volatility. Moreover, increase in usage of pentane in fuel blending and formulation is expected to create opportunities for the end-user industries to generate more polystyrene to make insulation materials. However, the implementation of stringent regulations toward usage of pentane hampers the global pentane market.
The global pentane market is segmented on the basis of type, application, and region. Depending on type, it is classified into n-pentane, isopentane, and neopentane. By application, it is segregated into blowing agent, electronic cleansing, chemical solvent, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Comprehensive competitive analysis and profiles of major market players, such as Royal Dutch Shell PLC., Phillips 66 Company, ExxonMobil Corporation, TOP Solvent Co., Ltd., Haltermann Carless UK Ltd., INEOS AG, LG Chem Ltd., SK Innovation Co., Ltd., Yeochun NCC Co., Ltd., and Maruzen Petrochemical Co., Ltd., are considered in the report.
By Type
n-Pentane is projected as the most lucrative segment.
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Global Pentane Market, By Type
Depending on type, n-Pentane segment dominated the global pentane market in 2020, and is expected to maintain its dominance during the forecast period, due to the fact that it is widely used in various personal care and industrial aerosol products as an aerosol propellant. Moreover, it serves as an essential blowing agent for polyurethane and expanded polystyrene foams.
By Application
Blowing agent is projected as the most lucrative market.
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Global Pentane Market, By Application
According to application, the blowing agent segment dominated the global pentane market in 2020, and is expected to maintain its dominance during the forecast period. A blowing agent properly formulated for a specific application is a key requirement of customers to maximize the thermal and physical product characteristics.
By Region
North America is projected as the most lucrative segment.
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Pentane Market, By Region
Region wise, North America accounted for the largest share of the pentane market in 2020. The North America market for pentane is expected to grow at the highest CAGR, in terms of both volume and value, owing to rise in production of transportation vehicles in the U.S., which, in turn, is anticipated to fuel the demand for pentane-based foams. Moreover, surge in adoption of polymer foams in large end-user industries and rise in demand for blowing agents in manufacturing of polyurethane (PU) foam are anticipated to accelerate the growth of the pentane market in North America.
Key Benefits For Stakeholders
- The report provides in-depth analysis of the global pentane market along with the current trends and future estimations.
- This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period.
- Porter’s five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the global pentane market for strategy building.
- A comprehensive market analysis covers the factors that drive and restrain the global pentane market growth.
- The qualitative data about market dynamics, trends, and developments is provided in the report.
Impact Of Covid-19 On The Global Pentane Market
- Transport limitations were implemented, owing to COVID-19 pandemic, resulting in reduced industrial production and disrupted supply chains, which affected global economic growth by substantial proportion, severely impacting market growth.
- The companies are not earning any profit as a result of work stoppage. This is not only affecting companies by losing money but also by losing suppliers who provide required materials to various companies.
- Furthermore, due to social distancing norms during COVID-19, the manufacturing companies are working with limited workforce thus, negatively impacting the production processes.
Pentane Market Report Highlights
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Analyst Review
Pentane is widely used in manufacturing of polystyrene foam as a blowing agent. Low cost compared to other chemical compounds, low boiling point, and relative safe when in use are some key advantages of pentane, which propel its consumption across the globe. Geothermal power stations use pentane in binary cycle systems, owing to its lower boiling point compared to other substitutes. Moreover, pentane is widely applicable in pharmaceuticals, petrochemicals, and paints & coatings, owing to its advantages as a chemical solvent, such as it gives cleaner extracts compared to other alkanes.
Expanded polystyrene (EPS) foam is applied for insulation of household & commercial appliances, cooling containers, for formulation of boards & panels, pipes, and other similar applications.
Based on type, in pentane industry, n-pentane generated maximum revenue in 2020, as it is one of the key components of condensate compounds derived from natural gas production. Moreover, it is used as a key element for fuel blending. Furthermore, it is used in various personal care and industrial aerosol products as an aerosol propellant. It serves as an essential blowing agent for polyurethane and expanded polystyrene foams. In addition, it is widely used as a chemical solvent, owing to its high volatility and low cost compared to other substitutes.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.
Surge in demand for pentane from end-user industries is expected to boost the pentane market growth.
The market value of global pentane market in 2021 is expected to be $105.7 million and projected to rise to $159.8 million in 2030.
The market value of global pentane market in 2021 is expected to be $105.7 million and projected to rise to $159.8 million in 2030.
The leading players in the market Suncor Energy Inc, Royal Dutch Shell PLC, Phillips 66 Company, ExxonMobil Corporation, Chevron Corporation, Neste, LG Chem Ltd., INEOS AG, SK Innovation Co., Ltd., and Maruzen Petrochemical Co., Ltd.
The global pentane market is segmented on the basis of derivative type, application, and region.
Low cost of pentane and its beneficial chemical properties is the main driver of pentane Market
Due to COVID-19 pandemic, transport limitations were implemented, resulting in reduced industrial production and disrupted supply chains, which affected global economic growth by a substantial proportion, severely impacting market growth.
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