The global pentane market size was valued at $97.2 million in 2016, and is anticipated to reach $128.0 million by 2023 at a CAGR of 4.1% during the forecast period. In terms of volume, the global pentane market production is estimated to reach 123.9 kilotons by 2023, registering a CAGR of 3.4%.

The prominent players operating in the global pentane market have strategically focused on product launch as their key strategy to gain significant share in the market. The key players profiled in the report include Royal Dutch Shell PLC, Phillips 66 Company, ExxonMobil Corporation, TOP Solvent Co., Ltd., Haltermann Carless UK Ltd., INEOS AG, LG Chem Ltd., SK Innovation Co., Ltd., Yeochun NCC Co., Ltd. and Maruzen Petrochemical Co., Ltd.

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Pentane is an organic compound having a chemical formula of C5H12, which consists of five carbon atoms that are linked together to form a single bond. It is a hydrocarbon, which possesses a gasoline-like odor and is burnt as a fuel. Pentane has several industrial uses, such as it is used to create blowing agent to further form a polystyrene.

The growth of the global pentane market is driven by increase in demand for pentane from various end-user industries, low cost of pentane, and its beneficial chemical properties, such as higher strength as compared to other alkanes and superior volatility. Moreover, increased usage of pentane in fuel blending and formulation is expected to create opportunities for the end-user industries to generate more polystyrene to make insulation materials. However, the implementation of stringent regulations towards usage of pentane hampers the global pentane market.

The global pentane market is segmented on the basis of type, application, and geography. Based on type, the market is classified into n-pentane, isopentane, and neopentane. n-Pentane generated the maximum revenue in 2016, and is expected to remain dominant throughout the analysis period, as it is widely used in various personal care and industrial aerosol products as an aerosol propellant. Moreover, it serves as an essential blowing agent for polyurethane and expanded polystyrene foams. The applications covered in the study include blowing agent, electronic cleansing, chemical solvent, and others.

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Author's Bio: 

I am Srushti Helwande. My keen interest in reading and writing. I forayed into the field of writing due to my love for words and the urge to do something different. I have been a part of the content resource team here in Allied Market Research. We have a dedicated team for content development wherein, we coordinate with the Market Analysts and create a precise content. I am personally involved in writing content for user engagement. I owe a responsibility to make sure the content is rich and user-centric. Allied Market Research has given me the chance to gain knowledge about different subjects.