The Europe Pentane Market would witness market growth of 3.9% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 11,919.7 Tonnes, showcasing a growth of 3.4% (2019-2022).
The market is subject to dynamic trends influenced by economic shifts, technological advancements, and environmental considerations. One major trend is the increasing demand for the compound in expanding polystyrene (EPS) foam production. EPS foam, widely used in packaging materials and construction, relies on the compound as a blowing agent to expand polystyrene beads. The surge in e-commerce activities and the growth of the construction industry contribute significantly to the rising demand for the compound in EPS production.
Furthermore, the automotive industry is pivotal in driving market trends. The compound finds application in manufacturing polyurethane foams used in automotive seating, insulation, and interior components. With the automotive sector experiencing a paradigm shift towards lightweight materials for fuel efficiency and reduced emissions, the demand for pentane-based products in this industry is rising.
According to the US Energy Information Administration, in 2021, France accounted for 13% of energy production and 13% of energy consumption in the Organization for Economic Cooperation and Development (OECD) Europe. The compound is often used in binary geothermal power plants, where hot geothermal fluid vaporizes a secondary fluid (such as this comnpound) to generate electricity. Due to the aforementioned factors the market growth will drive in this region.
The Germany market dominated the Europe Pentane Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $9,686 Thousands by 2030. The UK market is exhibiting a CAGR of 3% during (2023 - 2030). Additionally, The France market would experience a CAGR of 4.7% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Pentane Market will Hit $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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