The Europe pentane market size in 2017 was $28 million and it is anticipated to reach $38.1 million by 2025, registering a CAGR of 4.1% from 2018 to 2025.
Pentane is widely used as a blowing agent in the production of polyurethane & polystyrene foam, which is used in electronic appliances for cooling of electrical components. It is also used in electronic cleansing of electronic component and equipment used in electronic appliances, automobiles, and aerospace & defense. Geothermal power stations use pentane in binary cycle systems, owing to its lower boiling point as compared to other substitutes. There is an increase in the industrial applications such as pharmaceutical, petrochemical, and paints & coatings of pentane, owing to its advantages as a chemical solvent.
It offers cleaner extracts as compared to other alkanes. It is also available at low cost as compared to other chemical compounds. It exhibits low boiling point. These advantages of pentane boost its adoption in different applications throughout Europe.
The Europe pentane markets is driven by its applications and demand from end users, which include automotive, aerospace & defense, electronics, energy and pharmaceutical, petrochemical, and paints & coatings. Low cost and low boiling point of the compound, along with its associated advantages drive the growth of the Europe pentane market.
Moreover, increased usage of pentane in fuel blending and formulation and as blowing agent for polyurethane and polystyrene foam is anticipated to create significant opportunities for these industries to employ pentane products. Furthermore, growth in demand for pentane as chemical solvent from chemical industries, petrochemical, pharmaceutical, and paint & coatings industries are expected to drive the growth of the Europe pentane market.
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In addition, increase in production and sale of electronic components and equipment due to surge in demand from aerospace & defense, and automotive & consumer electronics industries as pentane is used as solvent in electronic cleansing is anticipated to increase the demand of pentane across Europe.
I0n addition, increase in disposable income and rise in living standards of individuals across Europe boosts the demand for air conditioners and refrigerators. This in turn increases the consumption of pentane across Europe as pentane and its by products are used as refrigerants. This is anticipated to increase the Europe pentane market share in the global pentane market. However, stringent government regulations toward the usage of pentane due its high volatility and hazardous effect on human health and environment is expected to impede the Europe pentane market growth.
The Europe pentane market is segmented based on type, application, and region. Based on type, the Europe pentane market is divided into n-pentane, isopentane, and neopentane. Based on application, the Europe pentane market is classified into blowing agent, chemical solvent, electronic cleansing, and others. Based on region, the Europe pentane market is analyzed across various country level markets.
The major key players operating in the pentane market include Exxon Mobil Corporation, HCS Group (Haltermann Carless UK Ltd.), INEOS Group Holdings S.A., Air Liquide S.A., Phillips 66, Royal Dutch Shell Plc., Chevron Corporation, Brenntag and Inventec. Other players operating in the Europe pentane market include the Molgroup, Penta Ing. Petr Svec, Avantor, ISOLAB Laborgerte GmbH, and SCHARR CPC GmbH (Friedrich Scharr AG). These players are adopting various strategic moves to exploit Eur0ope pentane market growth.
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