Europe Pentane Market growth is driven by increasing demand from end user industries & adoption of pentane due to its chemical properties facilitate.
PORTLAND, UNITED STATES, USA, September 27, 2021 /EINPresswire.com/ — Europe Pentane Market accounted USD 28 million in 2017 and is expected to hit USD 38.1 million by 2025, growing at a CAGR of 4.1% from 2018 to 2025, Allied Market Research published a report.
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.
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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.
Europe Pentane Market, By Application
1. Blowing Agent
2. Chemical Solvent
3. Electronic Cleansing
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.
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Europe Pentane Market, By Type
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 Europe Pentane Market.
Leading market players analyzed in the Europe Pentane Market 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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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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Source: EIN Presswire