The Asia Pacific Pentane Market would witness market growth of 4.8% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 19,788.3 Tonnes, showcasing a growth of 4.4% (2019-2022).
The pharmaceutical and laboratory sectors contribute to the growth of the market. The compound serves as a solvent in laboratories, aiding in extracting and purifying various compounds. The pharmaceutical industry utilizes the compound to synthesize certain drugs and as a cleaning agent for equipment. In the context of environmental awareness, a notable trend is the exploration of eco-friendly alternatives to traditional blowing agents in foam production. As regulatory frameworks become more stringent, industries increasingly invest in research and development to identify sustainable substitutes for the compound, fostering a shift towards greener alternatives.
The compound serves as a blowing agent in manufacturing polyurethane foams, which find applications in automotive components and construction materials. The compound is utilized as a solvent in laboratories for the extraction and purification of various compounds. The pharmaceutical industry employs the compound to synthesize specific drugs, showcasing its versatility in chemical processes. The compound can be utilized as a fuel component, contributing to its potential applications in the energy sector. The compound’s excellent solvent properties make it a valuable tool in industrial cleaning, effectively removing grease and contaminants.
According to the State Council, in 2022, the added value of major electronics manufacturers rose 12.7 percent year-on-year, compared with the 7.5 percent growth seen in the overall industrial sector. The compound is utilized in the formulation of adhesives used in electronics manufacturing. The production of electronic devices often involves bonding various components, and the demand for adhesives containing the compound may rise with the expansion of the electronics sector. Therefore, the factors mentioned above will propel the market growth in this region.
The China market dominated the Asia Pacific Pentane Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $11,557.1 Thousands by 2030. The Japan market is registering a CAGR of 4.1% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 5.4% during (2023 - 2030).
Based on Type, the market is segmented into n-Pentane, Isopentane and Neopentane. Based on Application, the market is segmented into Blowing Agent, Chemical Solvent, Electronic Cleansing and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Pentane Market is Predict to reach $153 Million by 2030, at a CAGR of 4.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include HCS Group GmbH (INTERNATIONAL CHEMICAL INVESTORS HOLDING SE), Junyuan Petroleum Group, Shell plc, Thai Oil Public Company Limited (PTT Public Company Limited), Exxon Mobil Corporation, LG Chem Ltd. (LG Corporation), Chevron Phillips Chemical Company LLC, China Petrochemical Corporation (Sinopec Group) and TRECORA (Balmoral Funds)
By Type (Volume, Tonnes, USD Million, 2019-2030)
By Application (Volume, Tonnes, USD Million, 2019-2030)
By Country (Volume, Tonnes, USD Million, 2019-2030)
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