The Pentane Market is expected to reach US$ 153.32 million by 2027, thanks to growth in the industrial uses segment. The report analyzes Pentane market dynamics by region and applications.
Pentane Market Overview:The Pentane Market was valued at US $114.72 million in 2020, and it is expected to reach US $153.32 million by 2027 with a CAGR of 4.23% during the forecast period. The chemical compound pentane has the formula C5H12, which means it is a five-carbon alkane. In IUPAC nomenclature, pentane can refer to any of three structural isomers or a mixture of them however, in practice, pentane only refers to the n-pentane isomer; the other two are known as isopentane and neopentane. Because cyclopentane only contains 10 hydrogen atoms while pentane has 12, it is not an isomer of pentane. Pentanes are used as specialty solvents in the laboratory and are found in some fuels. They have qualities that are extremely similar to butanes and hexanes. Pentane isomers have boiling temperatures ranging from 9 to 36 °C. The boiling temperatures of the heavily branched isomers are lower, as they are for other alkanes. The melting points of alkane isomers tend to be similar, with isopentane being 30 degrees Celsius lower than n-pentane. However, neopentane, the most extensively branched of the three, has a melting point that is 100 degrees Celsius higher than isopentane. Neopentane's very high melting point has been attributed to the tetrahedral molecules clustering closer together in solid form. To know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2016 to forecast the market through 2027. 2020 is considered a base year however 2020's numbers are on the real output of the companies in the market. Special attention is given to 2020 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.
Pentane Market Dynamics:
Residential LPG Demand Is Surging, With Government Policies to Back It Up:As the population of Asia Pacific, Africa, North America, and other places has surged, so has the use of liquefied petroleum gas (LPG) as a primary cooking fuel among the local people. In India, for example, LPG is used as cooking fuel by about 80% of all residential families. When compared to traditional fuels like wood and coal, LPG is easily accessible, clean, environmentally friendly, portable, and, most importantly, cost-effective. Because of its advantages over traditional fuel, many governments throughout the world have initiated efforts to promote the use of LPG as cooking fuel. For example, the Pradhan Mantri Ujjwala Yojna, an Indian government scheme in which 50 million LPG connections were anticipated to be made available to women from low-income households, as well as other initiatives such as streamlining registration and payment processes, cylinder distribution, and cylinder subsidization, have resulted in the enhanced acceptance of LPG as household fuel, reducing the dependency on traditionally consumed pollutant causing cooking fuel like coal and firewood. These factors are likely to raise demand for pentane, which is one of the major elements in the synthesis of LPG.
Exports Of Marine Pentane Were Expected to Increase In 2020:Shipments of marine pentane on Canada's west coast climbed by up to almost 77% in 2020, averaging 39 thousand barrels per day (Mb/d). In 2020, around 25% of Canadian pentane exports were transported. These shipments were all shipped to Asia, with the majority arriving in Japan. Increased demand related to the winter season and increased petrochemical feedstock needs, notably in China, drove growth in Canadian marine Pentane exports in 2020. Exports of marine pentane to Asian countries increased as a result of a drop in supplies from Saudi Arabia, a major pentane provider to Asian markets.
Pentane Price Volatility in 2020:The United States controls 65% to 70% of the global pentane supply. Pentane prices in the United States increased nearly every month in 2021, as supply chain disruptions collided with resurgent demand. Pentane saw variable pricing sessions at international hubs from January 2020 to September 2021 as a result of limited supplies and increased export demand globally. As a result, the market's volatility in Pentane prices, notably in the United States, has been a source of concern, and it is likely to hinder growth throughout the forecast period.
Global Pentane Market Segment Analysis:Based on Application, the pentane market is segmented as, industrial uses, and laboratory uses. In 2020, the industrial uses segment was dominant and held xx% of the overall market share in terms of revenue as it is widely used in many industrial applications. The principal blowing agents used in the manufacturing of polystyrene foam and other foams are pentanes. This is usually done with a mixture of n-, i-, and increasingly cyclopentane. Isopentane is produced by acid-catalyzed isomerization, which is utilized to make high-octane fuels. Pentanes are employed as a working medium in geothermal power plants and some blended refrigerants. They have also been consumed as a working medium in organic Rankine cycles thanks to their low boiling temperatures, low cost, and relative safety. Pentanes are solvents found in a wide range of essential products, including pesticides.
Global Pentane Market Regional Insights:China is the world's largest user of pentane, accounting for more than a quarter of total consumption. To meet the massive domestic demand, China imported over 14.92 million metric tonnes of pentane in 2019, up 10.82 percent from total imports in 2018. The reason for the increase in pentane imports in the country is increased demand from pentane dehydrogenation facilities or PDH plants. Following Thailand, China is Asia's second-largest Pacific Autogas market. As a result of municipal programs pushing alternative fuels to tackle the country's escalating air pollution problem, China's Autogas market increased significantly. Autogas schemes, which were first used in Guangzhou and Hong Kong, have since extended to more than 25 cities. Autogas is used by nearly all of Guangzhou's over 20,000 taxis and 91% of the city's nearly 9,000 buses. Autogas is also used by virtually all taxis and 31% of all public buses in Hong Kong, a city of roughly 30,000 people. The objective of the report is to present a comprehensive analysis of the market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global market dynamics, structure by analyzing the market segments and projecting the global market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global market makes the report investor's guide.
Pentane Market Scope: Inquire before buying
Pentane Market, by Region• North America • Europe • Asia Pacific • The Middle East and Africa • South America
Pentane Market Key Players• Gazprom • Shell • China Petroleum & Chemical Corporation • ExxonMobil • Saudi Arabian Oil Company • Chevron Corporation • Sinopec • Bharat Petroleum Corporation Limited • Hindustan Petroleum Corporation Limited • ConocoPhillips • Sika AG • Total SA • Anadarko Petroleum Corporation • Dow DuPont • Eni S.P.A • Others
Frequently Asked Questions:1. What is the forecast period considered for the Pentane market report? Ans. The forecast period for the Pentane market is 2021-2027. 2. Which key factors are hindering the growth of the Pentane market? Ans. The volatile prices of pentane in the international market because of the supply-demand gap aroused because of the COVID-19 pandemic is the only key factor expected to hinder the growth of the market during the forecast period. 3. What is the compound annual growth rate (CAGR) of the Pentane market for the next 6 years? Ans. The pentane market is expected to grow at a CAGR of 4.23% during the forecast period (2021-2027). 4. What are the key factors driving the growth of the Pentane market? Ans. The growing adoption of LPG in the residential sector demanding consumption of Pentane and increased marine pentane exports from the west coast of Canada are the key factors expected to drive the growth of the market during the forecast period. 5. Which are the worldwide major key players covered for the Pentane market report? Ans. Gazprom, Shell, China Petroleum & Chemical Corporation, ExxonMobil, Saudi Arabian Oil Company, Chevron Corporation, Sinopec, Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited, ConocoPhillips, Sika AG, Total SA, Anadarko Petroleum Corporation, Dow DuPont, Eni S.P.A, and Others.
1. Global Pentane Market: Research Methodology 2. Global Pentane Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Pentane Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Pentane Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Global Pentane Market Segmentation 4.1 Global Pentane Market, by Application (2020-2027) • Industrial Uses • Laboratory Uses 5. North America Pentane Market (2020-2027) 5.1 North American Pentane Market, by Application (2020-2027) • Industrial Uses • Laboratory Uses 5.2 North America Pentane Market, by Country (2020-2027) • United States • Canada • Mexico 6. Asia Pacific Pentane Market (2020-2027) 6.1. Asia Pacific Pentane Market, by Application (2020-2027) 6.2. Asia Pacific Pentane Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. The Middle East and Africa Pentane Market (2020-2027) 7.1. The Middle East and Africa Pentane Market, by Application (2020-2027) 7.2. The Middle East and Africa Pentane Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. Latin America Pentane Market (2020-2027) 8.1. Latin America Pentane Market, by Application (2020-2027) 8.2. Latin America Pentane Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 9. European Pentane Market (2020-2027) 9.1. European Pentane Market, by Application (2020-2027) 9.2. Europe Pentane Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 10. Company Profile: Key players 10.1. Gazprom 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Application Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. China National Petroleum Corp. 10.3. Shell 10.4. China Petroleum & Chemical Corporation 10.5. ExxonMobil 10.6. Saudi Arabian Oil Company 10.7. Chevron Corporation 10.8. Sinopec 10.9. Bharat Petroleum Corporation Limited 10.10. Hindustan Petroleum Corporation Limited 10.11. ConocoPhillips 10.12. Sika AG 10.13. Total SA 10.14. Anadarko Petroleum Corporation 10.15. Dow DuPont 10.16. Eni S.P.A 10.17. Others