Increase in demand from end user industries and surge in adoption of pentane due to its chemical properties facilitate the growth in the Europe pentane market
PORTLAND, Oregon, April 15, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Europe Pentane Market by Type (n-pentane, Isopentane, and Neopentane) and Application (Blowing Agent, Chemical Solvent, Electronic Cleansing, and Others): Opportunity Analysis and Industry Forecast, 2018–2025." The report provides a detailed analysis of key investment pockets, drivers & opportunities, value chain, major segments, and competitive intelligence. According to the report, the Europe pentane market garnered $28 million in 2017 and is expected to reach $38.1 million by 2025, growing at a CAGR of 4.1% from 2018 to 2025.
Increase in demand from end user industries and surge in adoption of pentane due to its chemical properties facilitate the growth in the market. However, stringent regulatory policies restrain the market growth. On the other hand, rise in adoption in fuel blending and formation create new opportunities in the industry.
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n-pentane segment to remain dominant during the forecast period
Based on type, the n-pentane segment held the major market share, contributing nearly three-fourth of the total market share in 2017 and is estimated to remain dominant during the forecast period. This is due to surge in adoption of chemical intermediates for its usefulness as chemical solvents and electronic cleaning solvents in various industries. However, the Isopentane segment would grow at the highest CAGR of 5.4% from 2018 to 2025, owing to rapid demand for usage in binary cycle systems at the geothermal power stations for operating turbines.
Blowing agents segment to maintain its lead position throughout the forecast period
Based on capacity, the blowing agents segment accounted for nearly two-fifth of the total share in 2017 and is expected to maintain its lead position throughout the forecast period. This is due to surge in production of polymer-based compounds including polystyrene and polyurethane. However, the electronic cleansing segment is expected to grow at a CAGR of 4.9% from 2018 to 2025, owing to rise in demand for electronic components from end-use industries including aerospace & defense, automobile, and consumer electronics.
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Germany to maintain its dominant position in terms of revenue by 2025
Germany contributed to nearly one-third of the total share in 2017 and will maintain its dominant position in terms of revenue by 2025. This is due to the surge in demand as blowing agents for manufacturing polyurethane & polystyrene foams for usage as cushioning materials in vehicle seats and home furnishings. However, Italy is expected to register the highest CAGR of 5.2% from 2018 to 2025, owing to significant increase in demand as a solvent for manufacturing various chemicals.
Leading market players
Leading market players analyzed in the research include Exxon Mobil Corporation, INEOS Group Holdings S.A., HCS Group (Haltermann Carless UK Ltd.), Phillips 66, Air Liquide S.A., Chevron Corporation, Royal Dutch Shell Plc., Brenntag, and Inventec.
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SOURCE Allied Market Research