Id: CBI_ 1375 | Pages: 252 | Format : PDF | Published : | Author : Pawan Chasta
Consegic Business Intelligence analyzes that the pentane market is growing with a CAGR of 4.4% during the forecast period (2023-2031), and the market is projected to be valued at USD 193.77 Million by 2031 and USD 136.81 Million in 2023 from USD 131.63 Million in 2022.
Pentane is a type of organic compound with a chemical formula of C5H12. The formula consists of 5 carbons and 12 hydrogen atoms. This compound belongs to the alkane group, as it contains n+2 hydrogen atoms, where n denotes carbon atoms. The properties of this compound are very similar to popular alkanes such as butanes and hexanes. Further, it is a clear colorless liquid with a highly volatile nature. This compound is relatively soluble in water and is present as an important component of gasoline. Moreover, it is produced by fractional distillation of petroleum and is further purified by successive distillation.
In addition to being a valuable component of natural gas, it has various applications in different industries. Predominantly, it is used as a blowing agent in the preparation of foam known as polystyrene. Polystyrene is primarily used as insulation material in the manufacturing of home appliances such as refrigerators, freezers, and cold storage. Furthermore, the boiling point ranges from 9 to 36 °C and the low boiling point of this compound expands its application as binary fluid in geothermal power stations.
Pentane is a type of hydrocarbon which is primarily found in fuels such as natural gas and petroleum. The cooking fuel industry is experiencing a surge in requirements due to its increasing advantages over traditional cooking fuels. It is a clean burning fuel and produces low pollutants compared to other hydrocarbons such as butane and propane. In addition to this, it also produces more heat per unit and is a relatively inexpensive cooking fuel, being a byproduct of natural gas and petroleum production.
Furthermore, it is one of the most commonly used hydrocarbons in LPG, and the rapid growth of non-domestic consumption of LPG is influencing the surge across the globe. For instance, according to the article published by the Observer Research Foundation (ORF) in August 2023, the non-domestic and bulk consumption of LPG in India increased from 2,630,000 tonnes in the annual year 2021-2022 to 3,015,000 tonnes in the annual year 2022-2023. Thus, the market trends analysis shows that the growing consumption of LPG in various sectors is fueling the driving of the pentane market growth.
Pentane is heavily utilized in the construction sector, owing to the growing use of n-pentane and iso-pentane as blowing agents for polyurethane foam insulation. These types of hydrocarbons are more advantageous compared to traditional blowing agents such as hydrofluorocarbons (HFCs), which generally phase out due to their high boiling point. The phenomenal insulation properties of these isomers make them well-suited for use in polyurethane foam insulation. In addition to this, these isomers are easily available in the market and are relatively inexpensive.
Furthermore, the rapidly evolving infrastructure sector across the world is significantly driving the construction sector. The growth of investment in infrastructure initiatives is propelling the market. For instance, according to the report published by the Office for National Statistics of the UK in May 2023, new work infrastructure construction in the UK had a total value of USD 32.69 billion in 2021, increased by 32.8% of the total investment made in the year 2020. Thus, as per the market trends analysis, the substantial rise in infrastructure development is rigorously boosting the pentane market growth.
Pentane, being the first alkane with a liquid nature, has highly volatile and flammable properties. While it has several applications in various industries, excessive exposure of the compound to the environment is likely to trigger long-term environmental consequences. It is relatively hazardous to aquatic organisms, predominantly invertebrates and fish. In addition to this, when it is expelled into the water bodies, it accumulates in the tissues of organisms, affecting adversely the reproduction, development, and survival of the aquatic organisms. As a result, the balance of the aquatic ecosystem is getting disrupted leading to a potential decline in the aquatic population.
Furthermore, the growth of precautionary concerns associated with environmental exposure is significantly slowing down the market across the globe. For instance, according to the report prepared by the experts on behalf of the International Labour Organization (ILO) and World Health Organization (WHO) in 2021, this compound is toxic to aquatic organisms, as it may cause long-term effects in the aquatic environment and is strongly advised not to let this compound enter into the environment. Therefore, the analysis of market trends shows that the aforementioned factors are mainly restricting the pentane market demand.
Pentane is widely used in various applications in the cosmetic sector, predominantly due to its distinctive characteristics as a solvent and propellant. The low boiling point and ability to dissolve a wide range of organic compounds make it an ideal solvent for fragrances and active ingredients in cosmetic products. In addition to this, it helps these substances to disperse evenly throughout the product, further ensuring consistent and effective delivery. Moreover, the high vapor pressure of the compound makes it an efficient propellant for aerosol cosmetic products such as shaving foams, deodorants, and hairsprays to create fine mist that allows even application.
For instance, according to the data published by the International Trade Association in May 2022, the cosmetics market in Canada generated approximately USD 1.24 billion of revenue in 2021 and is expected to grow by 1.45% annually to reach USD 1.8 billion by 2024. Thus, the analysis of market trends shows that the growing demand in the cosmetic sector is expected to create lucrative pentane market opportunities over the forecast period.
Report Attributes | Report Details |
Study Timeline | 2017-2031 |
Market Size in 2031 | USD 193.77 Million |
CAGR (2023-2031) | 4.4% |
By Type | N-pentane, Iso-pentane, Neo-pentane, and Others |
By Application | Laboratory Solvent, Chromatography, Blowing Agent, Binary Fluid, and Others |
By End-use Industry | Cosmetics, Pharmaceuticals, Petrochemicals, Paints and Coatings, Packaging, and Others |
By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Key Players | Junyuan Petroleum Group, HCS Group, Senzhihai Chem, Haldia Petrochemicals Limited, Air Liquide, RX Marine International, Vizag Chemical, KANTO KAGAKU, Junsei Chemical Co.,Ltd., Merck KGaA, SEMA Gases, Nacalai Tesque Inc, and Otto Chemie Pvt. Ltd. |
Geographies Covered | |
North America | U.S. Canada Mexico |
Europe | U.K. Germany France Spain Italy Russia Benelux Rest of Europe |
APAC | China South Korea Japan India Australia ASEAN Rest of Asia-Pacific |
Middle East and Africa | GCC Turkey South Africa Rest of MEA |
LATAM | Brazil Argentina Chile Rest of LATAM |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Opportunities, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, Cost Analysis, and Regional Trends & Forecast |
The type segment is categorized into n-pentane, iso-pentane, neo-pentane, and others. In 2022, the n-pentane segment accounted for the highest market share of 43.20% in the global pentane market and is also expected to grow at the fastest CAGR over the forecast period. N-pentane has a straight chain of hydrocarbons with a general chemical formula of C5H12. This is mainly attributed to factors such as the increasing use in the form of solvents, blowing agents, fuel, and refrigerants in various applications. In addition to this, it is highly prevalent owing to its ability to be produced naturally as a byproduct of petroleum and natural gas production, and synthetically from other alkanes.
Furthermore, it is widely used as a solvent in paint and coating materials, and the rapid development of this sector is particularly driving the segment. For instance, according to the data published in the annual report of Akzo Nobel India in 2023, the paints and coatings sector in India was valued at USD 7.57 billion in 2022 and is expected to reach USD 12.22 billion in the next five years. Thus, as per the segmental trends analysis, the evolving paints and coating sector is expected to drive considerable demand for solvents in the market, further influencing the pentane market trends.
The Application segment is categorized into laboratory solvent, chromatography, blowing agent, binary fluid, and others. In 2022, the blowing agent accounted for the highest market share in the pentane market share and is also expected to grow at the fastest CAGR during the forecast period. It is predominantly utilized as a blowing agent in the production of polyurethane foams. It is widely preferred as a blowing agent due to several characteristics such as low boiling point, ability to create lightweight foam, and high chemical compatibility. Additionally, the relatively inexpensive nature of the compound, being a byproduct of natural gas and petroleum production, enhances the scope for increased applications.
Meanwhile, lightweight foam is a prevalent application observed in aerosol products. The consistent utilization of aerosol products is expected to drive the market for this compound as a blowing agent and propel the segment growth. For instance, according to a study conducted by the University of York and the National Centre for Atmospheric Science in April 2021, the worldwide population uses more than 25 billion cans of aerosol products each year and is expected to grow continuously. Therefore, contributes to the surge to further drive the pentane market demand over the forecast period.
The end-use industry segment is categorized into cosmetics, pharmaceuticals, petrochemicals, paints and coatings, packaging, and others. In 2022, the petrochemicals segment accounted for the highest market share in the pentane market share. The petrochemical segment is driven by factors such as the increased use of the compound for other petrochemicals such as isoprene, neopentane, and ethylene. In addition to this, the molecular structure and physical properties of the compound affirm it as an ideal component for natural gas production. The growing demand for ethylene across the world is significantly driving the segment. For instance, according to the article published by Springer Nature Limited in November 2021, the demand for ethylene production is reaching approximately 200 million tons per year and is continuously growing. Thus, the segmental analysis trends show that the aforementioned reasons are expected to boost the pentane market trends.
Moreover, the cosmetics segment is anticipated to grow at the fastest CAGR during the forecast period. The cosmetics segment has several applications ranging from solvents in various chemical processes to propellants in aerosol products. Thus, analysis of segmental trends shows that the growth use in the preparation of cosmetic and personal care products is expected to drive pentane market opportunities over the forecast period.
The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
In 2022, North America accounted for the highest market share of 33.92% valued at USD 44.65 Million in 2022 and USD 46.49 Million in 2023, and is expected to reach USD 66.06 Million in 2031. In the North American region, the U.S. accounted for the highest market share of 65.20% in 2022. The pentane market analysis shows that this is mainly attributed to the increasing use in the petrochemical and cosmetic industries. The expanding applications as solvent and propellant is another significant factor contributing to the pentane market expansion.
However, Asia Pacific is expected to grow at the fastest CAGR of 4.9% during the forecast period. The progress of this region is primarily attributed to factors such as the growth of use in the infrastructure and electronics sector. For instance, according to the article published by China.org.cn in September 2022, China is the leading producer of consumer electronics, owing to improved innovation and brand-building capacity. Thus, the increasing revenue of consumer electronics is drastically influencing the pentane market expansion in the Asia Pacific region.
The pentane market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market stake through mergers, acquisitions, and partnerships. The key players in the pentane industry include-
In 2022, the market size of pentane was USD 131.63 million
In 2031, the market size of pentane is expected to reach USD 193.77 million.
Long-term environmental effects associated with exposure to pentane is impeding the market growth.
In 2022, the n-pentane segment accounted for the highest market share of 43.20% in the overall pentane market.
Asia Pacific is expected to be the fastest-growing region in the market during the forecast period.