According to the latest report by IMARC Group, titled “Pentane Plus Market by Type (N-Pentane, Isopentane, Neopentane), Application (Transportation Fuel, Chemical Solvent, Chemical Additives), and Region 2023-2028,” the global pentane plus market size reached US$ 111.7 Million in 2022. Pentane plus (C5H12) is a byproduct of refining crude oil or natural gas processing commonly used as a feedstock in various industrial applications. It is primarily a mixture of unsaturated hydrocarbons consisting of pentane and its isomers. Pentane Plus is a clear, highly volatile liquid with a strong gasoline-like odor, low boiling point, and excellent heat transfer properties. As a result, it is used as a refrigerant for commercial and industrial cooling systems. Apart from this, it is used for manufacturing chemicals and solvents and as an aerosol propellant used in hairsprays, spray paints, and insecticides.
Global Pentane Plus Market Trends:
The widespread product utilization in gasoline and ethanol blending processes to enhance octane ratings and improve the fuel efficiency of internal combustion engines (ICEs) is primarily driving the market growth. Besides this, rapid industrialization and urbanization, the expansion of transportation infrastructure, and the implementation of strict government regulations on carbon emissions are fueling the adoption of pentane plus as an alternative fuel source, thus favoring the market growth. Moreover, the increasing use of propane plus as a refrigerant in freezers, coolers, precoolers, refrigerators, and air conditioning systems due to its low toxicity is acting as another significant growth-inducing factor. In addition to this, the growing use of pentane plus as a solvent and feedstock across the flourishing chemical manufacturing sector is presenting remunerative growth opportunities for the market. Concurrent with this, ongoing research and development (R&D) efforts and technological advancements for enhancing the efficiency and cost-effectiveness of pentane plus production are positively impacting the market growth. Furthermore, the surging demand for gasoline, increasing activities in oil and gas exploration and production (E&P), and emerging applications of pentane plus in manufacturing rubber, plastic, and solar panels are strengthening the market growth. Looking forward, the market value is projected to reach US$ 254.36 Million by 2028, expanding at a CAGR of 14.1% during 2023-2028.
- On the basis of the type, the market has been segregated into N-Pentane, Isopentane, and Neopentane. Currently, N-Pentane dominates the market, holding the largest share.
- Based on the application, the market is categorized into transportation fuel, chemical solvent, and chemical additives. Among these, transportation fuel represents the biggest market segment.
- On a regional basis, the market has been segmented into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. At present, North America enjoys the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being Aeropres Corporation, Central Drug House, Choice Organochem LLP, Datta Hydro-chem Private Limited, Exxon Mobil Chemical Company, HCS Group Gmbh, Jun Yuan Petroleum Group, LG Chem Ltd, Phillips 66 Company, Shell plc, SynQuest Laboratories, and Tradeasia International Inc.
|Base Year of the Analysis
||N-Pentane, Isopentane, Neopentane
||Transportation Fuel, Chemical Solvent, Chemical Additives
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Aeropres Corporation, Central Drug House, Choice Organochem LLP, Datta Hydro-chem Private Limited, Exxon Mobil Chemical Company, HCS Group Gmbh, Jun Yuan Petroleum Group, LG Chem Ltd, Phillips 66 Company, Shell plc, SynQuest Laboratories, and Tradeasia International Inc.
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