Pentane Market : Effect and Growth Factors Research and Projection 2018-2028
VALLEY COTTAGE, N.Y. – Pentane is a hydrocarbon organic compound that has a gasoline-like odor and is usually burnt as a fuel. Pentane finds numerous industrial applications; for instance, it is used as an ingredient in the production of petroleum. Its primary application is in creating blowing agents, which are in turn used in manufacturing polyesters (foams). Pentane has three isomeric forms, i.e. iso-pentane, n-pentane and neo-pentane, which are generally used in blowing agents, electronic cleansing or as chemical solvents.
Pentane: Market Drivers and Challenges
The growth of the global pentane market can be attributed to the rapid adoption of automobiles across the globe, which in turn is estimated to step-up the adoption of gasoline. Pentane acts as a blending agent in gasoline, which is augmenting the growth of the gasoline market. Further, for polystyrene and polyurethane, pentane behaves as a blowing agent. Increasing disposable income and the inclination towards higher living standards have changed the lifestyle and buying power of the public, resulting in a jump in the sales of electronic appliances, which require polystyrene and polyurethane foam insulation for cooling purpose.
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This in turn is increasing the consumption of pentane in the global market. In addition, pentane and its byproducts are used as refrigerants in electronic appliances (fridge and air conditioners), which is another factor contributing towards the growth of the global pentane market. Therefore, the growth of the electronics industry has a significant impact on the consumption of pentane and is expected to create sizable growth opportunities in the global pentane market over the forecast period.
Pentane Market: Market Segmentation
On the basis of product type, the global pentane market has been segmented into:
- n-Pentane
- Iso-Pentane
- Neo-Pentane
On the basis of application, the global pentane market has been segmented into:
- Blowing agent
- Electronic cleansing
- Chemical solvent
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On the flip side, pentane, being highly volatile and hazardous, evaporates in the environment rapidly at room temperature and burns above 360 Celsius. Also, when mixed with water or vapor, it can be exceedingly flammable. Further, the exposure of pentane to living beings or the environment, particularly aquatic animals, could be harmful as it consists of a high level of volatile organic compounds (VOCs). The presence of VOCs can also damage crops. Furthermore, though pentane has not been classified as carcinogenic, its exposure has an adverse effect. As a result, several regulatory bodies have established and imposed stringent regulations. For instance, in Europe, pentane pollution is controlled through PPC (pollution, prevention, and control) regulations and U.K. National Air Quality Strategy. The European Solvents Directive (99/13/EC) also controls the consumption and release of pentane in the environment. Moreover, due to these challenging factors, pentane is gradually being replaced by propylene glycol methyl ether or propylene glycol methyl ether acetate. Also, the handling of pentane requires skilled labor, which could affect the growth of the pentane market to some extent over the forecast period.
Pentane Market: Regional Market Outlook
Among all regions, North America is anticipated to hold a significant share in the pentane market, owing to the widespread presence of the electronics industry and huge demand for blowing agents in polyester applications. In Asia Pacific, counties such as Japan, South Korea, China, India, and Japan, the demand for pentane is expected to be surplus as a result of the significant presence of electronic manufacturing facilities. Further, the demand for pentane in Europe is likely to subside due to the stringent regulatory scenario; hence, the consumption of pentane could be replaced by propylene glycol methyl ether or propylene glycol methyl ether acetate.
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Pentane Market: Market Participants
The global pentane market is anticipated to be highly fragmented, owing to the presence of numerous local manufacturers. Examples of some of the market participants in the global pentane market identified across the value chain include:
- Maruzen Petrochemical
- Yeochun NCC Co., Ltd.
- LG Chem
- HCS Group
- Top Solvent Co., Ltd.
- Merck KGaA
- TCI Chemicals (India) Pvt. Ltd.
- Exxon Mobil Corporation
- Phillips 66 Company
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