Some of the key players in the n-pentane market such as Royal Dutch Shell Plc, Datta Hydro-chem (P) Limited, Liaoning Yufeng Chemical Co., Ltd., Jun Yuan Petroleum Group, Pure Chem Co.,Ltd and others.
The global n-pentane market size is anticipated to showcase substantial growth in the forthcoming years. This information is published by Fortune Business Insights™ in its report titled “N-Pentane Market, 2021-2028“. The compound is inexpensive and miscible in most non-polar solvents. These characteristics have boosted its demand in the rapidly evolving chemical industry. It is generally used in industrial applications such as polystyrene foam, working medium, and solvents.
Halted Production Process amid COVID-19 to Hamper Growth
The effect of COVID-19 has been experienced in various industries across the globe. Several travel restrictions affected the transport of raw materials. Moreover, border closures on the domestic and international levels have led to several disruptions in the demand and supply chain. The demand from most of the end-use industry fell as most manufacturing facilities were temporarily shut down. With several regions uplifting lockdown norms, it is expected that the economies will open up again, and demand will rise again. The demand for the compound from the fuel industry is likely to increase with growing needs in the healthcare sector.
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The product type of n-pentane divides it into pentane 85/15, pentane 60/40, pentane 50/50, pentane 20/80, pentane 80/20, and pentane 70/30. The application of the product is in blowing agent, electronic cleaning, chemical solvent, aerosol propellant, solvent, and others. The market Geography is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What Does the Report Contain?
The market report for the product contains data analyzed by our experts to identify the potential market opportunities and capitalize on them. The research includes market drivers, restraints, and also business models of prominent players. Data analysis is done on primary and secondary levels to understand the market hierarchy clearly. This report is crucial to all the new entrants in this business to ensure a well-informed strategy while making business decisions.
Increasing Demand Owing to Chemical Characteristics to Promote Growth
N-pentane market growth is predicted due to its high volatility and miscibility with non-polar compounds such as olefins, ethers, and chlorocarbons during the foreseeable future. These characteristics, along with the low cost of production, are expected to boost market sales. The substitutes of this compound are comparatively expensive as industrial solvents, which makes it a popular choice in the industrial sector. Additionally, it is an essential component of fuels. According to the US energy information administration’s (EIA) expectation, crude oil production is expected to rise by 0.7 million b/d by the second quarter of 2021. The rising demand and supply in the fuel industry driver for the compound. Also, technological advances in the fuel sector are anticipated to accelerate the market for the product.
Popular Choice as Solvent to Propel Product Demand in North America
North America is predicted to hold the largest n-pentane market share in the foreseeable future. The growing demand from the industrial sector for the solvent is propelling the regional market. The investment in the fuel sector is also expected to contribute significantly to the market demand.
Asia Pacific is growing in terms of the compound’s demand. The presence of several chemical manufacturing industries and rapid industrialization has created a substantial demand in the region. The production of polystyrene foam, PU foam, and other such products garner rising sales in the region.
Europe to showcase considerable growth with the rising demand for fuel. The increasing production in the automobile sector is further expected to boost the adoption of the product in the region.
Product Innovation by Prominent Companies to Amplify Their Market Positions
The rising demand for chemical intermediates such as n-pentane is likely to grow in the future by introducing its application in the chemical and electronics industry. As a niche market, the prominent players of this industry are fragmented globally. Details regarding investment, mergers, acquisitions, product launches, annual turnover, and much more by the key players are available in the report for further reference. These prominent players are focused on investing in expanding the product’s application to penetrate various industries. This approach is expected to expand the business horizon while ensuring innovation in the process. The rest of the players are making strategic business decisions to stabilize their position in the market.
May 2019 – Lab Alley introduced advanced n-pentane in their solvent mix portfolio. The product is available in various volume packages. The introduction is expected to boost the company revenue.
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List of Key Players Profiled in the Market for N-Pentane Report:
- Royal Dutch Shell Plc
- Datta Hydro-chem (P) Limited
- Liaoning Yufeng Chemical Co., Ltd.
- Jun Yuan Petroleum Group
- Pure Chem Co., Ltd
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