Pentane Market - Global Industry Analysis

Pentane Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2022-2028

Category: Chemical & Materials Report Format : PDF Report Code: ZMR-6902 Status : Upcoming

Description

Global Pentane Market: Overview

The worldwide market for pentane was estimated at USD 111.3 million in 2020 and is predicted to touch USD 164.5.0 million by 2028 expanding at a CAGR of 4.4 % during the forecast period. Pentane is a colorless, extremely volatile liquid that is water-soluble. This chemical is formed during the fractional distillation of petroleum. Pentane is an organic molecule with the chemical formula C5H12 that is made up of 5 carbon atoms bonded together to create a single bond. It is a hydrocarbon with a gasoline-like odor that is used as a fuel. Pentane is utilized in a variety of industrial applications, including the production of a blowing agent for the subsequent formation of polystyrene.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Global Pentane Market: Growth Factors

The global pentane market is fueling at a rapid rate. The global pentane market is expanding due to factors such as increased demand from numerous end-user sectors, pentane's inexpensive cost, and its advantageous chemical features, such as stronger strength in comparison to those other alkanes and greater volatility. Furthermore, greater pentane use in fuel blending and formulation opens up chances for end-user businesses to produce more polystyrene for insulating materials. In addition to this, it is commonly utilized as an aerosol propellant in a variety of personal care and industrial aerosol applications. Additionally, it is a necessary blowing agent for extended polystyrene foams and polyurethane. All such factors are also equally contributing to the growth of the market. In addition to this, pentane is also used as a cleaning agent of electronics which in turn is boosting the market owing to a significant rise in demand for electronics in developed and developing economies. Moreover, heavy investments by key players for the production of the product and staying ahead in the competition is also fueling the market growth. For instance, Haltermann Carless established a hydrogenation facility in Speyer, Germany, in July 2021, making the business the world's largest manufacturer of cyclopentane, which is used as a blowing agent in insulating foams. Furthermore, during the projection period, the increased interest of industry players in the introduction of new products is likely to generate growth prospects for pentane producers. The introduction of strict laws governing the use of pentane, on the other hand, is impeding the global pentane market.

The COVID-19 pandemic severely hit the market growth during FY 2020 and the first quarter of 2021. The impact is majorly attributed to a disruption in the supply chain and logistics. However, increasing demand for pentane in fuel applications is likely to stabilize the growth of the market over the forecast period.

Global Pentane Market: Segmentation

The global market for pentane is bifurcated based on application, type, and region. Based on type, the market is classified into isopentane, n-pentane, and neopentane. The applications segment of the global pentane market is comprised of electronic cleansing, chemical solvent, blowing agent, and others.

Global Pentane Market: Regional Analysis

North America is projected to contribute maximum share in the global pentane market over the forecast period. This is primarily due to an increase in the manufacturing of transportation vehicles in the United States, which is expected to boost demand for pentane-based foams. Furthermore, the increased use of polymer foams in big end-user industries, as well as the increasing demand for blowing agents in the production of PU foam, are expected to boost the expansion of the North American market. Asia Pacific is predicted to register rapid growth during the predicted study period. The market will benefit from increased demand from the industrial sector for polystyrene foam, PU foam, and other goods.

Global Pentane Market: Competitive Players

The key market players functioning in the global pentane market are primarily focused on new product launches to gain momentous share in the global market. Some of the major players included in the report include Phillips 66 Company, Royal Dutch Shell PLC, ExxonMobil Corporation, Haltermann Carless UK Ltd., TOP Solvent Co., Ltd., INEOS AG, SK Innovation Co., Ltd., Yeochun NCC Co., Ltd., Maruzen Petrochemical Co., Ltd., and LG Chem Ltd.

Global Pentane Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

 

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FrequentlyAsked Questions

The global pentane market is fueling at a rapid rate. The global pentane market is expanding due to factors such as increased demand from numerous end-user sectors, pentane's inexpensive cost, and its advantageous chemical features, such as stronger strength in comparison to those other alkanes and greater volatility.

Some of the major players included in the report include Phillips 66 Company, Royal Dutch Shell PLC, ExxonMobil Corporation, Haltermann Carless UK Ltd., TOP Solvent Co., Ltd., INEOS AG, SK Innovation Co., Ltd., Yeochun NCC Co., Ltd., Maruzen Petrochemical Co., Ltd., and LG Chem Ltd.

North America is projected to contribute maximum share in the global pentane market over the forecast period. This is primarily due to an increase in the manufacturing of transportation vehicles in the United States, which is expected to boost demand for pentane-based foams. Furthermore, the increased use of polymer foams in big end-user industries, as well as the increasing demand for blowing agents in the production of PU foam, are expected to boost the expansion of the North American market.

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