Heightened Isoprene Production and Blowing Agents’ Usability to Ignite Isopentane Demand, Evaluates Fact.MR
Published : 09 Jul 2021 Industry: Chemical & Materials
As per a new report published by Fact.MR MR - a market research and competitive intelligence provider, the isopentane market is anticipated to surpass US$ 3.5 Bn valuation in 2021, and is poised to expand at a CAGR of around 5.6% over the next ten years.
Fact.MR analyses that dehydrogenation of isopentane to form isoprene remained the wheel of fortune for isopentane, infusing consumption growth. Adoption of isoprene for plastic and rubber manufacturing constantly unleashes spiking business demand and reflects strong dominance for isopentane globally. Constant research and innovation is observed by key market players to foster unexplored functions for end-use industries.
Function as a blowing agent is poised to be the bed rock for isopentane demand, constantly fuelling consumption globally. Heightened usage of these blowing agents in the chemicals and petrochemicals sector remained the focal point for key market leaders operating in this business domain. Swelling usage of isopentane as a foam blowing agent has been proving its worth in improving the chemical performances of end products and simultaneously fuelling market potential.
Global demand for isopentane is propelled by North America, followed by Europe and East Asia. North America holds maximum number of manufacturers positioned due to ease of raw material availability and heightened infrastructure investments.
Key Takeaways from Market Study
- The global isopentane market is anticipated to add 1.7X value by 2031.
- 99% and more isopentane captures a major chunk and is set to create an absolute $ opportunity of around US$ 1.3 Bn by 2031.
- Among the functions, blowing agents has been the fastest-growing segment, owing to rise of plastic production globally over the past decade.
- North America is set to dominate market revenue in 2021, but is expected to lose 279 BPS by 2031.
- Due to the COVID-19 crisis, demand for isopentane was hit in 2020, which saw a decline of 2% over the 2nd and 3rd quarters of the year.
“Isopentane as a blowing agent to be the wheel of fortune for dynamic business opportunities,” says a Fact.MR analyst.
Key players manufacturing isopentane must look forward for increased production capacity and prioritise geographical expansions to gather prominence in the landscape. This shall help businesses witness growth in the market in the medium- to long-term forecast period.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global isopentane market, presenting historical market data (2016-2020) and forecast statistics for the period of 2021-2031.
The study reveals essential insights on the basis of purity (<95%, 95%-97%, 97%-99%, and >99%), blending agent (pentane, cyclopentane, n-pentane, and others), and function (blowing agents [polyurethane foam additives and EPS additives), hydrocarbon solvents, propellants, and viscosity controlling agents), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Fact.MR’s Domain Knowledge in Chemicals & Materials
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With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the chemical industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Sr. Consultant – Chemicals & Materials