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Europe Pentane Market: Segmented: By Type (n-Pentane, Isopentane and Neopentane); By Applications (Blowing Agent, Chemical Solvent, Electronic Cleansing, Aerosol Propellant and Others); By Region (UK, Germany, France, Spain, Italy and Rest of Europe) -Analysis of market share, size & trends for 2016-19 and forecasts to 2030
Europe Pentane Market to surpass USD 40.4 million by 2030, which is valued at 26.76 million in 2019 at a compound annual growth rate of 3.80%
Manufacturing of polyurethane & polystyrene foam which are used in electronic devices to cool electrical parts, pentane is commonly used as a blowing agent. It is often used to tidy electrical parts and machinery employed for mobile devices, vehicles and aerospace & defense. Due to its low boiling point relative to other alternatives, Geothermal Power Plants use pentane in binary cycle systems. Attributing to its usefulness as a natural solvent there was an increase in industrial applications such as the medical, petrochemical and paints and pentane coatings. As compared to other alkenes, it provides relatively clean extracts. It is also available in comparison with other chemical compounds at a low cost. The boiling point is weak. These advantages enhance pentane adoption across Europe in varied uses.
Europe Pentane Market is expected to reach USD 40.4 million in 2030 from USD 26.76 million in 2019, growing at a CAGR of 3.80% during the forecast period. The major factors driving the growth of the market are discussed below. Europe's pentane markets are dominated by numerous end-user applications and demands, such as automotive, aeronautical & security, electrical, petrochemical and pharmaceutical. The low cost, higher boiling levels and associated advantages of the compound stimulate the development of Europe's pentane market. Furthermore, the growing use of pentane in mixing and developing fuel is projected to offer these industries with considerable potential for pentane manufacture as a blowing agent for polyurethane and polystyrene foam. However, increased electrical component & equipment output and sales are anticipated to increase the need for pentane in all Europe, as pentane is used as a solvent for electronic cleaning, thanks to growing demand from the aerospace & defense and automotive & consumer electronics industries. Furthermore, rising disposable incomes and the livelihoods of people in Europe raises the demand for air conditioners and coolers. As pentane and its derivatives are used as cooling agents, it increases pentane use in Europe. The European pentane market share is expected to increase in the global pentane industry. Strict policy restrictions on the use of pentane are, however, expected to hamper Europe's pentane demand development because it is very volatile and harmful for human health and the environment.
Europe Pentane Market is segmented based on type into n-Pentane, isopentane and neopentane. Due to its high volatility and cost-effectiveness compared with other alternatives, the n-pentane segment captured a major market share in 2019 and is forecasted to grow at fastest rate over the forecast period. n-Pentane is often used as a main component for fuel mixing. Besides, it is used as an aerosol propellant in many cosmetic products and manufacturing aerosol products. As an effective blowing agent for polyurethane and expanded polystyrene foams, it promotes the development of the pentane market in European countries.
Based on applications, the market is categorized into blowing agents, chemical solvent, electronic cleansing, aerosol propellant, and others. The blowing agent dominated the European pentane market in 2019. Due to its use as supportive materials for home decoration and vehicle seats, pentane is the stimulant and central ingredient in the foaming phase of the polyurethane content. Expanded polystyrene (EPS) foam is used to insulate household and industrial devices, cooling tanks, board, and panel structure, pipe, and related applications. Moreover, polyurethane foams are long-lasting & lightweight and are thus used by most vehicles when making chairs, armrests, and headrests. As a result of this development, demand for polyurethane foams is forecast to expand in the automotive industry and it is projected to fuel Europe's pentane market. A correctly formulated blowing agent is a key necessity to optimize the thermal and physical features of the product.
Pentane is a substitute fuel
The total installed cumulative PV capacity at the end of 2018 amounted to approximately 512 GW, of which approximately 180 GW were utility plants. This was a 27% increase from 2017. Additionally, the capacities, solar photovoltaic generation increased by 31% in 2018 and constituted marginally ahead of wind and hydropower the bigger combined growth generation (+136TWh) of all renewable energy sources. Thus, inducing the demand of the pentane market.
Increasing demand for electric vehicles
The transition to electric vehicles is likely to hinder the growth of the pentane market during the projected timeframe. In 2017, the government of France declared a full ban on diesel and petrol-powered vehicles and a transition to electric vehicles by 2040 to meet its zero-emission targets under the 'Paris Climate Agreement'.
The Europe Pentane Market is segmented based on regional analysis into six major regions. UK, Germany, France, Spain, Italy and the Rest of Europe. Geographically, Germany is expected to dominate the market in Europe over the forecast period, owing to supportive government policies and increasing demand from significant end-users which have a major contribution to the GDP.
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