Europe pentane market outlook - 2025
The Europe pentane market size in 2017 was $28 million and it is anticipated to reach $38.1 million by 2025, registering a CAGR of 4.1% from 2018 to 2025.
Pentane is widely used as a blowing agent in the production of polyurethane & polystyrene foam, which is used in electronic appliances for cooling of electrical components. It is also used in electronic cleansing of electronic component and equipment used in electronic appliances, automobiles, and aerospace & defense. Geothermal power stations use pentane in binary cycle systems, owing to its lower boiling point as compared to other substitutes. There is an increase in the industrial applications such as pharmaceutical, petrochemical, and paints & coatings of pentane, owing to its advantages as a chemical solvent. It offers cleaner extracts as compared to other alkanes. It is also available at low cost as compared to other chemical compounds. It exhibits low boiling point. These advantages of pentane boost its adoption in different applications throughout Europe.
The Europe pentane markets is driven by its applications and demand from end users, which include automotive, aerospace & defense, electronics, energy and pharmaceutical, petrochemical, and paints & coatings. Low cost and low boiling point of the compound, along with its associated advantages drive the growth of the Europe pentane market. Moreover, increased usage of pentane in fuel blending and formulation and as blowing agent for polyurethane and polystyrene foam is anticipated to create significant opportunities for these industries to employ pentane products. Furthermore, growth in demand for pentane as chemical solvent from chemical industries, petrochemical, pharmaceutical, and paint & coatings industries are expected to drive the growth of the Europe pentane market. In addition, increase in production and sale of electronic components and equipment due to surge in demand from aerospace & defense, and automotive & consumer electronics industries as pentane is used as solvent in electronic cleansing is anticipated to increase the demand of pentane across Europe. I0n addition, increase in disposable income and rise in living standards of individuals across Europe boosts the demand for air conditioners and refrigerators. This in turn increases the consumption of pentane across Europe as pentane and its by products are used as refrigerants. This is anticipated to increase the Europe pentane market share in the global pentane market. However, stringent government regulations toward the usage of pentane due its high volatility and hazardous effect on human health and environment is expected to impede the Europe pentane market growth.
The Europe pentane market is segmented based on type, application, and region. Based on type, the Europe pentane market is divided into n-pentane, isopentane, and neopentane. Based on application, the Europe pentane market is classified into blowing agent, chemical solvent, electronic cleansing, and others. Based on region, the Europe pentane market is analyzed across various country level markets.
The major key players operating in the pentane market include Exxon Mobil Corporation, HCS Group (Haltermann Carless UK Ltd.), INEOS Group Holdings S.A., Air Liquide S.A., Phillips 66, Royal Dutch Shell Plc., Chevron Corporation, Brenntag and Inventec. Other players operating in the Europe pentane market include the Molgroup, Penta Ing. Petr Svec, Avantor, ISOLAB Laborgerte GmbH, and SCHARR CPC GmbH (Friedrich Scharr AG). These players are adopting various strategic moves to exploit Eur0ope pentane market growth.
Europe Pentane Market, by region
Based on region, Germany accounts for major share in the Europe pentane market, favorable governmental initiatives toward economic development by promoting development in industrial and manufacturing sector and rise in investment in energy sector to meet the growing energy demands increases the importance of pentane. In addition, economic development drives urbanization and industrialization, which has positive impact on the Europe pentane market. Growth in industrial & manufacturing activities, such as increase in production of automobiles and defense equipment provide significant growth opportunities for the Europe pentane market as pentane blown polyurethane and polystyrene foams are used for cooling of electronic components incorporated in machines. Furthermore, growth in construction industry contributes around 9% to Europe GDP. Polymer-based compounds such as polyurethane and polystyrene find significant applications in the construction industry. These compounds are used as building materials, insulation materials, sealants, and adhesives. Pentanes act as blowing agent for polystyrene and polyurethane. The demand for pentane is expected to rise significantly due to growth of construction industry across Europe.
Europe Pentane market, by Type
Based on type, the n-pentane segment dominated the market in 2017, owing to its high volatility and low cost as compared to other substitutes. Moreover, it is used as a key element for blending of gasoline. 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 thereby driving growth of Europe pentane market.
Europe Pentane market, by Application
Based on application, the blowing agent segment dominated the market in 2017. Pentane is the stimulus and key component in the foaming process of the polyurethane material, owing to its use as cushioning materials in home furnishings and vehicle seats. Expanded polystyrene (EPS) foam is applied for the insulation of household and commercial appliances, cooling containers, for formulation of boards and panels, pipes, and other similar applications. In addition, polyurethane foams are durable and lightweight and are hence used in the production of seats, armrests, and headrests for most of the cars. Thus, the growth in the automotive industry is expected to increase the demand for polyurethane foams, which is anticipated to fuel the need of Europe pentane market. A blowing agent, properly formulated for a specific application, is a key requirement to maximize the thermal and physical product characteristics.
Key Benefits for Europe pentane market:
- Porters five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- Europe pentane market trends has been analyzed on the various qualitative and quantitative parameters
- It outlines the Europe Pentane market size, current trends and future scenario of the market from 2018 to 2025 to understand the prevailing opportunities and potential investment pockets.
- Major countries in the region have been mapped according to their individual revenue contribution to the regional market.
- Europe Pentane market analysis includes key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study.
- The profiles of key players along with their key strategic developments are enlisted in the report.
Europe Pentane Market Report Highlights
Key Market Players
Royal Dutch Shell Plc., Harp International Ltd, INEOS Group Holdings S.A., Phillips 66, Chevron Corporation, Air Liquide S.A., HCS Group (Haltermann Carless UK Ltd.), Exxon Mobil Corporation, Brenntag, Inventec
Pentane is widely used as a blowing agent in the production of polyurethane & polystyrene foam, which is used in electronic appliances for cooling of electronic components. Pentane and its by products are used as refrigerants in air conditioners and refrigerants. It is also used in electronic cleansing of electronic component and equipment used in electronic appliances, automobiles, and aerospace & defense. Geothermal power stations use pentane in binary cycle systems, owing to its lower boiling point as compared to other substitutes. Expanded polystyrene (EPS) foam is applied for the insulation of household & commercial appliances, cooling containers, for formulation of boards & panels, pipes, and other similar applications.
Moreover, pentane is widely applicable in pharmaceutical, petrochemical, and paints & coatings of pentane, owing to its advantages as a chemical solvent. It offers cleaner extracts as compared to other alkanes. It is also available at low cost as compared to other chemical compounds and exhibits low boiling point.
Based on type, in pentane industry, n-pentane generated maximum revenue in 2017, as it is one of the key components of the condensate compounds derived from natural gas production. Moreover, it is used as a key element for gasoline 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 as compared to other substitutes.