According to a new report published by Allied Market Research, titled,"Pentane Market by Type and Application: Europe Opportunity Analysis and Industry Forecast, 2018 - 2025,"the Europe pentane market was valued at $28 million in 2017, and is projected to reach $38.1 million by 2025, growing at a CAGR of 4.1% from 2018 to 2025. Pentane is an alkane with five carbon atoms. It has the lowest boiling point and is produced from the fractional distillation of petroleum. It is colorless and has an odor similar to that of gasoline. It finds its major usage petroleum spirits.
Pentane is the low cost and low boiling point compound. This factor leads to increase in its demand from end users, such as energy, pharmaceutical, paints & coatings, automotive, and aerospace & defense. . 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 and coatings industries are expected to drive the growth of the Europe pentane market. In addition, rise in production and sale of electronic components and equipment due to surge in demand from aerospace & defense, automotive, and consumer electronics industries as pentane is used as solvent in electronic cleansing is anticipated to increase the demand for pentane across the Europe.
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 market growth.
Based on type, the Europe pentane market is segmented into n-pentane, isopentane, and neopentane. It is one of the key components of the condensate compounds derived from natural gas production. It is widely used as a chemical solvent, 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. Isopentane is one of the least dense liquids. It is extremely volatile and flammable at room temperature and pressure. It finds application in geothermal power production to run turbines and in freezing tissues for cryosectioning. Neopentane is a colorless and flammable gas at room temperature and pressure that can condense into a highly volatile liquid on a cold day, in an ice bath, or when compressed to a higher pressure. It is widely used in the process of production of butyl products, such as butyl rubber and gasoline blend component due to its relatively high-octane numbers.
Based on application, the market is divided into blowing agent, chemical solvent, electronic cleansing, and others. Pentane is the stimulus and key component in the foaming process and acts as blowing agent of the polyurethane material. Polyurethane foams are widely used as cushioning materials in home furnishings and vehicle seats. Pentane is a chemical used as a solvent. It can be used as a source of hydrogen via stream reforming. It is often used as a solvent in the laboratory in liquid chromatography, because it is non-polar and can be conveniently evaporated. Pentane-based electronic cleaning solvent is a rapidly drying solvent specially designed for thoroughly cleaning electrical and electronic equipment and appliances.
Based on region, the market is analyzed across Europe. Germany accounts for major share in the Europe pentane market, due to favorable governmental initiatives toward economic development by promoting development in industrial and manufacturing sector. Rise in investment in energy sector to meet the growing energy demands increases the importance of pentane.
Key Findings of the Pentane Market:
- Germany in Europe pentane market is predicted to hold a share of over 31.98% by the end of 2025.
- Based on type, the n-pentane segment is expected to hold a dominant share in the market in terms of revenue, over the projected period.
- Based on application, the blowing agent segment is projected to have a share of over 37.92% in 2017 and is expected to surpass 36.69% by the end of 2025.
Market players have adopted agreement, partnership, and expansion as their key strategies to gain competitive advantage in this market. The key players profiled in this report 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.