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Pentane is an organic compound having five carbon atoms bound to each other with single bonds. Pentane is a hydrocarbon having a chemical formula of C5H12. It is a volatile, colourless liquid with a petroleum-like odour. Shell is the world's largest producer of pentane which holds around 14 % of the global market share. The global production of pentane is estimated to grow at a CAGR of 3.71% between 2024 and 2030. Pentane is employed as one of the primary blowing agents in the production of polystyrene foam. Also, pentane is used as a speciality solvent in the laboratory.
Pentane plus is a natural gas liquid. Pentane is a key raw natural gas liquid material followed by heptane, benzene, hexane and octane. The product has a huge demand as a transportation fuel and as a transportation fuel, pentane plus have gained a significant momentum globally. With an increase in natural gas liquid production, market players are likely to witness huge opportunities for growth in the coming years. But various hazards such as high vapor explosion associated with the production of pentane plus likely to damage market’s growth in the near future. Plus the implementation of stringent regulations towards usage of pentane that causes air pollution while burning hampers the global pentane market.
Different factors such as low cost of pentane, rise in demand for pentane from various end-user industries, its beneficial chemical properties such as higher strength as compared to other alkanes, superior volatility, increased usage of pentane in fuel blending and formulation from various end-user industries will further drive growth of the global pentane market. Industries uses pentane to generate polystyrene to make insulation materials. Plus, pentane is used as a refrigerant in the fridge and AC appliances that rises its demand in the appliance industry.
Asia Pacific is the largest importer of pentane plus across the world while North America especially U.S. is being established as a leading exporter of pentane plus as they have high pentane plus yield in this region which helps to increased production of natural gas liquids. This situation is expected to remain the same in the forthcoming years. The steady growth of pentane plus production in China and Australia and increasing government initiatives for the promotion of unconventional energy in countries, such as Taiwan, India, Vietnam, China, and South Korea is likely to boost this regional market substantially over the next few years.
Global Pentane Market Report: Product Type
Global Pentane Market Report: Application
Global Pentane Market Report: Competitive Analysis
Report includes accurate analysis of key players with Market Value, Company profile, SWOT analysis. The Study consists of following key players in Global Pentane Market Report:
Geographical analysis of Global Mattress Market:
Global Pentane Market Report delivers a comprehensive analysis of the following parameters:
Parameters | Details |
---|---|
Base Year |
2024 |
Historical Data |
2018-2023 |
Forecast Data |
2024-2030 |
Base Year Value (2024) |
USD 145.04 million |
Forecast Value (2031) |
USD 219.53 million |
CAGR (2025-2030) |
6.1 % |
Regional Scope |
North America, Europe, Asian Pacific, Latin America, Middle East and Africa, and ROW |
Pentane Market was valued at around USD 145.04 million in 2023 & estimated to reach USD 219.53 million by 2030.
Pentane Market is likely to grow at Compound Annual Growth Rate (CAGR) of 6.1% between 2024 to 2030.
Pentane Market is dominated by the EPS Blowing Agent segment and the North America region holds the highest market share in 2023.
Some of the top key players in the Pentane Market are Shell, South Hampton Resourc, CNPC, ExxonMobil Chemical, Phillips 66, TOP Solvent, Junyuan Petroleum Group, Aeropres Corporation, Diversified CPC, Rizhao Changlian.
Primary driving factors for the growth of the Pentane Market include Increasing government initiatives for the promotion of unconventional energy.
Yes, the report includes COVID 19 impact on the market.
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