The Global Pentane Market size is expected to reach $153 million by 2030, rising at a market growth of 4.1% CAGR during the forecast period. In the year 2022, the market attained a volume of 80,286.7 Tonnes, experiencing a growth of 3.7% (2019-2022).
In Europe, the market is marked by a strong emphasis on environmental cleansing. The region is noticing a growing trend towards adopting eco-friendly, low-global-warming-potential pentane formulations, especially in refrigeration and insulation applications. Environmental regulations push companies to develop and utilize cleaner, sustainable chemical-based products. Consequently, the Europe region would acquire nearly 30% of the total market share by 2030 Additionally, there is a rising interest in recycling and recovery processes to minimize waste and improve sustainability, aligning with the European commitment to greener practices and a cleaner environment within the market. Some of the factors impacting the market are rising technological advancements in foam production, increasing pharmaceutical and laboratory applications and rising stringent environmental regulations.
Technological advancements in foam production lead to more precise and controlled processes. This results in the creation of foams with enhanced quality, such as improved cellular structure, uniformity, and insulation properties. The chemical’s role as a blowing agent becomes even more crucial in achieving these high-quality foam characteristics. Advanced technologies allow for greater customization of foam characteristics to meet specific industry requirements. As a versatile blowing agent, the chemical enables manufacturers to tailor the properties of foams according to the desired application, whether for cushioning, insulation, or structural components. Thus, technological advancements in foam production positively impact market growth. Additionally, the chemical is widely used as a solvent in laboratory settings, particularly in organic chemistry. Its ability to dissolve non-polar compounds makes it valuable for various processes, including extraction, purification, and synthesis. The chemical is employed in quality control processes within the pharmaceutical industry. Its use in analytical techniques ensures the accurate testing and verification of pharmaceutical products, contributing to quality assurance and compliance with regulatory standards. As the pharmaceutical and laboratory sectors continue to grow and evolve, the market for the chemical is expected to expand further.
However, the chemical is classified as a volatile organic compound (VOC), and its use in certain applications contributes to air pollution. Stringent environmental regulations focused on reducing VOC emissions can limit the use of this chemical in certain industries, especially where alternative, low-VOC technologies are available. Many countries and regions have established emission reduction targets as part of their commitment to international climate agreements. These targets may influence regulatory decisions, limiting certain industrial processes involving this chemical, especially if more sustainable alternatives are available. Due to the abovementioned aspects, market growth will be hampered.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include HCS Group GmbH (INTERNATIONAL CHEMICAL INVESTORS HOLDING SE), Junyuan Petroleum Group, Shell plc, Thai Oil Public Company Limited (PTT Public Company Limited), Exxon Mobil Corporation, LG Chem Ltd. (LG Corporation), Chevron Phillips Chemical Company LLC, China Petrochemical Corporation (Sinopec Group) and TRECORA (Balmoral Funds)
In Europe, the market is marked by a strong emphasis on environmental cleansing. The region is noticing a growing trend towards adopting eco-friendly, low-global-warming-potential pentane formulations, especially in refrigeration and insulation applications. Environmental regulations push companies to develop and utilize cleaner, sustainable chemical-based products. Consequently, the Europe region would acquire nearly 30% of the total market share by 2030 Additionally, there is a rising interest in recycling and recovery processes to minimize waste and improve sustainability, aligning with the European commitment to greener practices and a cleaner environment within the market. Some of the factors impacting the market are rising technological advancements in foam production, increasing pharmaceutical and laboratory applications and rising stringent environmental regulations.
Technological advancements in foam production lead to more precise and controlled processes. This results in the creation of foams with enhanced quality, such as improved cellular structure, uniformity, and insulation properties. The chemical’s role as a blowing agent becomes even more crucial in achieving these high-quality foam characteristics. Advanced technologies allow for greater customization of foam characteristics to meet specific industry requirements. As a versatile blowing agent, the chemical enables manufacturers to tailor the properties of foams according to the desired application, whether for cushioning, insulation, or structural components. Thus, technological advancements in foam production positively impact market growth. Additionally, the chemical is widely used as a solvent in laboratory settings, particularly in organic chemistry. Its ability to dissolve non-polar compounds makes it valuable for various processes, including extraction, purification, and synthesis. The chemical is employed in quality control processes within the pharmaceutical industry. Its use in analytical techniques ensures the accurate testing and verification of pharmaceutical products, contributing to quality assurance and compliance with regulatory standards. As the pharmaceutical and laboratory sectors continue to grow and evolve, the market for the chemical is expected to expand further.
However, the chemical is classified as a volatile organic compound (VOC), and its use in certain applications contributes to air pollution. Stringent environmental regulations focused on reducing VOC emissions can limit the use of this chemical in certain industries, especially where alternative, low-VOC technologies are available. Many countries and regions have established emission reduction targets as part of their commitment to international climate agreements. These targets may influence regulatory decisions, limiting certain industrial processes involving this chemical, especially if more sustainable alternatives are available. Due to the abovementioned aspects, market growth will be hampered.
Application Outlook
Based on application, the market is fragmented into blowing agent, chemical solvent, electronic cleansing, and others. The chemical solvent segment garnered a significant revenue share in the market in 2022. The chemical is an effective solvent for cleaning and degreasing applications in various industries, including manufacturing and maintenance. It removes oils, greases, and contaminants from surfaces, machinery, and equipment. In the rubber and tire industry, the chemical is utilized as a solvent for processing certain rubber compounds. It aids in the mixing and dispersion of rubber additives, contributing to rubber products' overall quality and properties. The chemical is often employed as a laboratory cleaning solvent for glassware and equipment. Its ability to dissolve many substances makes it useful for cleaning and rinsing laboratory apparatus.Type Outlook
On the basis of type, the market is segmented into n-pentane, isopentane, and neopentane. The isopentane segment acquired a substantial revenue share in the market in 2022. Isopentane is commonly employed as a laboratory solvent. It is used in cryopreservation and freezing applications, where its low freezing point and rapid evaporation help achieve ultra-low temperatures for preserving biological specimens. In the fragrance and flavor industry, isopentane is sometimes used to extract essential oils from plant materials. Its low boiling point allows for the efficient extraction of volatile aromatic compounds. Isopentane may be used as a component in fuel formulations.Regional Outlook
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region registered the highest revenue share in the market. This chemical-based foam demand is anticipated to increase due to vehicle production in the United States. Furthermore, the production of polyurethane (PU) foam and the increased demand for blowing agents are expected to contribute to expanding the market in North America, as will the surge in the adoption of polymer foams by major end-user industries. The trend in the North American market is shifting towards eco-friendly and sustainable cleansing agents, with this chemical-based products aligning with these preferences. Additionally, the region increasingly focuses on innovative, low-VOC (volatile organic compound) formulations, ensuring safety and environmental compliance in the cleansing industry.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include HCS Group GmbH (INTERNATIONAL CHEMICAL INVESTORS HOLDING SE), Junyuan Petroleum Group, Shell plc, Thai Oil Public Company Limited (PTT Public Company Limited), Exxon Mobil Corporation, LG Chem Ltd. (LG Corporation), Chevron Phillips Chemical Company LLC, China Petrochemical Corporation (Sinopec Group) and TRECORA (Balmoral Funds)
Scope of the Study
Market Segments Covered in the Report:
By Type (Volume, Tonnes, USD Million, 2019-2030)
- n-Pentane
- Isopentane
- Neopentane
By Application (Volume, Tonnes, USD Million, 2019-2030)
- Blowing Agent
- Chemical Solvent
- Electronic Cleansing
- Others
By Geography (Volume, Tonnes, USD Million, 2019-2030)
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- HCS Group GmbH (INTERNATIONAL CHEMICAL INVESTORS HOLDING SE)
- Junyuan Petroleum Group
- Shell plc
- Thai Oil Public Company Limited (PTT Public Company Limited)
- Exxon Mobil Corporation
- LG Chem Ltd. (LG Corporation)
- Chevron Phillips Chemical Company LLC
- China Petrochemical Corporation (Sinopec Group)
- TRECORA (Balmoral Funds)
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Global Pentane Market by Type
Chapter 5. Global Pentane Market by Application
Chapter 6. Global Pentane Market by Region
Chapter 7. Company Profiles
Companies Mentioned
- HCS Group GmbH (INTERNATIONAL CHEMICAL INVESTORS HOLDING SE)
- Junyuan Petroleum Group
- Shell plc
- Thai Oil Public Company Limited (PTT Public Company Limited)
- Exxon Mobil Corporation
- LG Chem Ltd. (LG Corporation)
- Chevron Phillips Chemical Company LLC
- China Petrochemical Corporation (Sinopec Group)
- TRECORA (Balmoral Funds)
Methodology
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