The Latin America, Middle East and Africa Pentane Market would witness market growth of 5.7% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 7,272.7 Tonnes, showcasing a growth of 5.9% (2023-2030).
Pentane is a fuel in aerosol formulations, contributing to its role in the cosmetics and personal care industry. The compound is an intermediate in synthesizing various chemicals, showcasing its importance in diverse chemical processes. The overall economic health of regions and countries directly impacts the market, as industrial activities, construction projects, and consumer demand influence the need for pentane-based products.
Strict environmental rules regarding the use of certain chemicals, coupled with a growing emphasis on sustainability, are key factors influencing the market. The industry is adapting to comply with evolving regulations and exploring environmentally friendly alternatives. Ongoing technological advancements in foam production methods and blowing agent technologies influence the demand for the compound. The industry is continually exploring more efficient and sustainable processes. Changing consumer preferences and the increasing demand for sustainable and eco-friendly products drive research and development efforts to find green alternatives to the compound in various applications.
As per the Brazilian National Agency for Petroleum, Natural Gas, and Biofuels, Brazil owns the world's largest recoverable ultra-deep oil reserves, with 97.6% of Brazil's oil production produced offshore. The 2022 average oil production was 3.02 million barrels per day, 2.47% higher than the previous annual record. The compound is a component of natural gas, and its extraction often occurs during oil and gas exploration. As Brazil increases its oil production, the associated extraction of natural gas could lead to higher availability of the compound. As a result, these aspects will boost the market growth in the coming years.
The Brazil market dominated the LAMEA Pentane Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3,512.3 Thousands by 2030. The Argentina market is showcasing a CAGR of 6.2% during (2023 - 2030). Additionally, The UAE market would register 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Pentane Market is Projected to reach USD 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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