Download Free Sample
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Pentane Market size was valued at US$ 153 million by 2023 and is poised to grow at a CAGR of 3.9% from 2024 - 2030. Increase in demand for pentane from various end-user industries, growing usage of pentane in fuel blending and formulation, rapid acceptance of automobiles across the globe, inclination towards higher living standards have changed the lifestyle & buying power of the public and high growth of the electronics industry are some key factors impelling the market growth. However, factors such as implementation of stringent regulations towards usage of pentane and occurrence of high vapor explosion hazards are restricting the market growth.
Pentane is an organic molecule with the chemical formula C5H12 that is made up of five carbon atoms joined together by a single bond. It's a hydrocarbon with a gasoline-like odour that can be used as a fuel. Pentane is utilised in a variety of industries, including as a blowing agent in the production of polystyrene. Increased demand for pentane from various end-user industries, low cost of pentane, and its desirable chemical features, such as better strength compared to other alkanes and superior volatility, are driving the worldwide pentane market forward. Furthermore, greater pentane consumption in fuel blending and formulation is predicted to allow end-user companies to produce more polystyrene for insulation materials. The global pentane market, on the other hand, is hampered by the installation of strict rules regarding pentane consumption.
Study Period
2024-2030Base Year
2023CAGR
3.9%Largest Market
North-AmericaFastest Growing Market
Asia pacific
The electronics sector is typically divided between consumer electronics, electric utilities, and general electronics. Consumer electronics drive most of the growth in the sector, however. The electronics industry is experiencing rapid on account of newer innovations and the miniaturization of products. The computer market and handheld devices such as tablets, portable storage devices, and consumer electronics are the major factors propelling the growth of the electronics industry. Thus, the growth of the electronics industry has a substantial influence on the consumption of pentane and is likely to create ample growth opportunities in the global market over the estimated period. Pentane and its byproducts are used as refrigerants I n electronic appliances (fridge and air conditioners), which is contributing towards the progress of the global market.
North America accounted for larger revenue share in global pentane market with considerable CAGR due to increased natural gas liquid production in the region. Rise in production transportation vehicles in U.S, high demand for blowing agents in the manufacturing of PU foam and surge in adoption of polymer foams in large end-user industries are other factors responsible for market growth. In addition, Asia Pacific held considerable market share during estimated period owing to regional government initiatives to promote unconventional energy production.
Latin America
Europe
Asia Pacific
Middle East
North America
|
Report Benchmarks |
Details |
|
Report Study Period |
2024-2030 |
|
Market Size in 2023 |
US$ 153 million |
|
Market CAGR |
3.9% |
|
By Type |
|
|
By Application |
|
|
By Region |
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa (MEA)
|
Download Free Sample Report
The pentane market size was valued at US$ 153 million in 2023
The pentane market key players are: Aeropres Corporation CNPC Diversified CPC ExxonMobil Chemical Junyuan Petroleum Group Phillips 66 Rizhao Changlian Shell South Hampton Resources TOP Solvent
The pentane market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.