According to Fortune Business Insights The Europe pentane market is set to gain impetus from its increasing usage as an additive in specialty fuels. This information is published by Fortune Business Insights™ in a new report, titled, “Europe Pentane Market Size, Share & Industry Analysis, By Type (n-Pentane, Isopentane, Pentane-Blends), Application (Blowing Agent, Chemical Solvent, Electronic Cleansing, Automotive, Geothermal, Others), and Regional Forecast, 2020-2027.” The report further states that the Europe pentane market size was USD 23.19 million in 2019 and is projected to reach USD 26.62 million by 2027, growing at a CAGR of 3.4% during the forecast period.
COVID-19 Pandemic: Foam Industry Shows High Demand from Medical Sector amid Lockdown
The COVID-19 pandemic has resulted in the implementation of stringent lockdown norms in numerous countries of Europe. It has caused disruptions in the value chain owing to restrictions on the transportation and distribution of materials. Pentane is majorly adopted by the foam industry. However, the industry has faced shutdowns, especially in Poland, Ukraine, Scandinavia, Ireland, and the U.K. But, it has started experiencing high demand from the medical industry backed by the surging usage of foam to make mattresses. We are offering accurate research reports to help you invest in the right areas for gaining a competitive edge.
How Did We Develop This Report?
Our analysts have conducted both qualitative and quantitative techniques, as well as a blend of primary and secondary sources to collect information about the market. They have taken information from paid databases, press releases, company journals, and other sources to provide a complete picture of the Europe pentane industry. To derive information about the competitive landscape, such as collaborations, joint ventures, acquisitions, mergers, partnerships, and acquisitions, they have conducted thorough interviews with prominent figures.
Blowing Agent Segment to Exhibit Highest Growth Stoked by Surging Demand from Various Industries
Based on the application, the blowing agent segment procured the highest Europe pentane market share in 2019. This growth is attributable to the increasing demand for foam from a wide range of industries, such as building & construction, automotive, and furniture & bedding. These products are used for cushioning purposes.
Drivers & Restraints-
Increasing Usage of Pentane by Foam Manufacturers to Aid Growth
The expansion of the polyurethane foam industry is expected to boost Europe pentane market growth throughout the forthcoming years. The product is extensively used by foam manufacturers as it is cost-effective. At the same time, it is capable of delivering dimensional stability to foams. However, pentane is considered to be toxic and inhalation of the product can harm the lungs, cause burns on the skin, and irritate the throat & nose.
Increasing Foreign Investments to Boost Growth in Russia
Geographically, France and Germany are the dominant contributors to the market growth. Governments of these countries are introducing favorable initiatives to promote the industrial and manufacturing sectors. In Russia, the increasing foreign investments would aid demand. Italy, on the other hand, the surging production of automobiles and rising construction activities are anticipated to accelerate growth.
Key Players Focus on Expanding Their Geographic Presence to Intensify Competition
The market for pentane in Europe houses several renowned companies. But, out of them, Phillips 66 Company and Royal Dutch Shell are considered to be the leading ones. Both organizations are mainly focusing on marketing and manufacturing of chemicals. They also have broader geographical presence.
A list of all the pentane manufacturers present in Europe:
- Phillips 66 Company (U.S.)
- Royal Dutch Shell plc (Netherlands)
- HCS Group GmbH (Germany)
- Thai Oil Public Company Limited (Thailand)
- INEOS (UK)
- Air Liquide (France)
- Harp International Ltd (UK)
- ChemPoint (U.S.)
- BRENNTAG (Austria)
- Inventec (France)
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This post was originally published on Downey Magazine