The global pentane plus market size reached US$ 111.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 254.36 Million by 2028, exhibiting a growth rate (CAGR) of 14.1% during 2023-2028. The growing demand for transportation fuel, the implementation of favorable government policies, and the expanding product utilization as a refrigerant represent some of the key factors driving the market.
Pentane plus (C5H12) refers to a mixture of unsaturated hydrocarbons that are heavier than pentane obtained through refining crude oil or natural gas processing. It consists of five carbon atoms linked together in a single bond. Pentane is a clear, highly volatile liquid with a strong gasoline-like odor. It has a low boiling point and excellent heat transfer properties, making it a suitable refrigerant for commercial and industrial cooling systems. Apart from this, pentane plus is used in several industrial applications, including as a feedstock in the production of chemicals and solvents and as an aerosol propellant for various consumer products, such as hairspray, spray paints, and insecticides.
Pentane Plus Market Trends:
The rising product utilization in gasoline and ethanol blending processes to increase its octane rating and improve the fuel efficiency of internal combustion engines (ICEs) is primarily driving the global pentane plus market growth. In line with this, rapid industrialization and urbanization, significant growth in transport infrastructure, and the implementation of stringent government regulations on carbon emissions from vehicles have prompted the adoption of pentane plus as an alternative fuel source, which, in turn, is aiding in market expansion. Moreover, the increasing utilization of pentane plus as a refrigerant in freezers, coolers, precoolers, refrigerators, and air conditioning systems used across the food and beverage (F&B), residential, and commercial sectors due to its low toxicity is creating a favorable outlook for the market. In addition to this, the widespread use of pentane plus across the flourishing chemical manufacturing sector as a solvent and feedstock for various chemical processes is contributing to the market growth. Furthermore, extensive research and development (R&D) initiatives and technological advancements in the production of pentane plus to improve the efficacy and cost-effectiveness of the product are presenting remunerative growth opportunities for the market. Other factors, such as the exponentially growing demand for gasoline, the increasing oil and gas exploration and production (E&P) activities, and the emerging application of pentane plus in manufacturing rubber, plastic, and solar panels, are impelling the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global pentane plus market, along with forecasts at the global levels from 2023-2028. Our report has categorized the market based on type and application.
The report has provided a detailed breakup and analysis of the pentane plus market based on the type. This includes N-Pentane, Isopentane, and Neopentane. According to the report, N-pentane represented the largest segment.
- Transportation Fuel
- Chemical Solvent
- Chemical Additives
A detailed breakup and analysis of the pentane plus market based on the application have also been provided in the report. This includes transportation fuel, chemical solvents, chemical additives, and others. According to the report, transportation fuel accounted for the largest market share.
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for pentane plus. Some of the factors driving the North America pentane plus market included the rising demand for gasoline as motor fuels, expanding product utilization as a refrigerant in the food and beverage (F&B) sector, and the bolstering growth of the chemical manufacturing sector.
The report has also provided a comprehensive analysis of the competitive landscape in the global pentane plus market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 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. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|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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Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the pentane plus market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global pentane plus market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the pentane plus industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.