Europe Pentane Market Size
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.
Market Highlights
Europe Pentane Market is expected to project a CAGR of 3.8% during the forecast period, 2019-2030
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: Segments
Volatility of n-pentane
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.
Blowing agent acts as a stimulus
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.
Market Dynamics
Driver
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.
Restraint
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'.
Europe Pentane Market: Region
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.
Europe Pentane Market is further segmented by region into:
- UK Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR
- Germany Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR
- France Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR
- Spain Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR
- Italy Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR
- Rest of Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR
Europe Pentane Market: Key Players
- Exxon Mobil Corporation
Company overview,Business Strategy,Key Product Offerings,Financial Performance,Key Performance Indicators, Risk Analysis,Recent Development,Regional Presence,SWOT Analysis
- HCS Group
- INEOS Group Holdings S.A.
- Phillips 66
- Chevron Corporation
- Avatar
- ISOLAB Laborgerte GmbH
- Air Liquide S.A.
- Royal Dutch Shell Plc
- Molgroup
Europe Pentane Market Report also contains an analysis on:
Europe Pentane Market by segment:
- By Type
- By Application
- Blowing Agent
- Chemical Solvent
- Electronic Cleansing
- Aerosol Propellant
- By Region
- Rest of Europe
- Europe Pentane Market Size
- Europe Pentane Market Dynamics
- Supply and Demand
- Current Issues/trends/challenges
- Competition and Companies Involved in the Market
- Value Chain of the Market
Frequently Asked Questions (FAQ):
This report provides a detailed analysis of the Europe pentane market by type (n-pentane, isopentane, neopentane), by application (blowing agent, chemical solvent, electronic cleansing, aerosol propellant and others), provides country-level insights (UK, Germany, France, Spain, Italy and Rest of Europe) and offers market size, share, trends and forecast up to 2030.
Major applications include its use as a blowing agent in insulation foam manufacture, as a chemical solvent, for electronic cleansing in manufacturing and as an aerosol propellant.
Growth is driven by increasing demand for energy-efficient insulation foams, stricter environmental regulations promoting low-GWP (Global Warming Potential) solutions, and rising consumption in electronics manufacturing for solvents and cleaning agents
Key challenges include stringent environmental and chemical-regulation regimes (for example under REACH in the EU), rising raw-material and handling costs, substitution by alternative blowing agents and the need for safer storage/handling of pentane due to its volatile nature
Countries such as Germany, France, the UK and Italy are highlighted due to strong manufacturing bases (automotive, insulation, electronics) and well-developed industrial infrastructure which support pentane use in foam, solvent and propellant applications. ASD Reports
The report is valuable for chemical manufacturers, blowing-agent producers, insulation-foam manufacturers, electronic-cleaning-solution suppliers, raw-material providers, investors and strategic planners looking to understand market size, growth outlook, regulatory impacts and competitive positioning in Europe.
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