Pentane Market

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.

The COVID-19 lockdown measures enforced by various governments globally had led to temporary disruptions in chemical industry, thus negatively impacting the market. The ongoing health crisis has increased the supply-demand gap, hampering the global pentane supply chain.

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. 

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.

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.

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