New York, NY -- (SBWIRE) -- 12/23/2020 -- Pentane is a chief raw material accompanied by heptane, benzene, hexane, and octane. It also serves as a blowing agent for expanded polystyrene foams and polyurethane. The applications of pentane are widespread in several industries, including blowing agent, electronic cleansing, and chemical solvent. Based on type, the pentane market is segmented into isopentane, n-pentane, and neopentane.
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Market Drivers
The major driving force for the development of the pentane market is the increasing demand as a transportation fuel. Moreover, increased pentane utilization in formulation and blending of fuels is expected to open doors for end-user industries to produce more polystyrene to create insulation materials. Its superior chemical properties and its low cost as compared to other alkanes have driven the market. Pentane also helps in smooth oil flow in pipes which is anticipated to enhance demand for the global pentane industry over the forecast period. Furthermore, the product is massively used in numerous industrial aerosol and personal care products as an aerosol propellant.
Segments Covered in the Report
The chief players profiled in the report include
Phillips 66 Company, ExxonMobil Corporation, Royal Dutch Shell PLC, TOP Solvent Co., Ltd., Haltermann Carless UK Ltd., INEOS AG, LG Chem Ltd., Yeochun NCC Co., Ltd., SK Innovation Co., Ltd., and Maruzen Petrochemical Co., Ltd.
By Type (Revenue, USD Million, 2017 - 2027)
n-Pentane
Isopentane
Neopentane
By Application (Revenue, USD Million, 2017 - 2027)
Blowing agent
Electronic Cleansing
Chemical Solvent
Others
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By Region (Revenue, USD Million, 2017 - 2027)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Rest of Middle East & Afric
Regional Analysis
According to the evaluation, the North American region dominated the pentane market worldwide. This is due to the increase in vehicles produced in the U.S. Emerging economies, such as India, China, Taiwan, Vietnam, and South Korea, are anticipated to register high gasoline demand over the projected year, as pentane is also used in pipeline transportation.
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