Isopentane Market Analysis By Purity (<95% Isopentane, 95% - 97% Isopentane, 99% Isopentane), By Blending Agent (Pentane, Cyclopentane, n-Pentane), By Function (Blowing Agents, Solvents, Propellant), By Region - Global Market Insights 2021 to 2031
Market Outlook for Isopentane Market
Newly-released isopentane industry analysis by Fact.MR - a market research and competitive intelligence provider, shows that global demand enjoyed year-on-year (YoY) growth of 4.4% in 2021, to total 7,920 KT. >99% purity isopentane displayed growth of 4.9% to total 3,495 KT, while 97%-99% purity grade isopentane was up 4.1% to 2,510 KT.
Key Points Covered in Isopentane Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- COVID-19 Impact on Isopentane Sales and How to Navigate
- Recommendation on Key Winning Strategies
Revenue Analysis of Isopentane from 2016 to 2020 Compared to Demand Outlook for 2021 to 2031
As per the isopentane industry research carried out by Fact.MR, historically, from 2016 to 2020, market value of isopentane increased at around 4.1% CAGR, wherein, the U.S., Germany, Russia, UK, China, Japan, India, and Turkey held significant share in the global market.
With growing isopentane functional outlook as aerosol propellant and blowing agents in chemical, petrochemical, and plastic manufacturing industries, the market for isopentane is forecast to expand at a moderate CAGR of around 5.6% over the coming 10 years.
- The isopentane market saw soaring growth in 2020 with worldwide revenue up 2.6% year-over-year. Fact.MR estimates that isopentane revenue will grow 1.7X from 2021 to 2031, reaching nearly US$ 6.1 Bn in 2031.
- As per Fact.MR’s isopentane market insights, global market revenue totaled US$ 3.4 Bn in 2020.
- Demand for >99% purity grade isopentane to accelerate at the highest pace.
- Demand for isopentane for electronics cleaning to see an incline.
- Top 6 manufacturers of isopentane held 45% market share in 2020.
- Sales of isopentane in the energy industry to witness notable increase.
- Demand for isopentane from EPS manufacturers to rise over the coming years.
- Global shipments of isopentane are expected to increase 4.4% in 2021 to reach a volume of 7,920 KT.
How are Government Regulations Triggering Demand for Isopentane?
Governments of various regions across the globe are investing in promoting alternatives for non-HCFC foam blowing agents to reduce the harmful effects on the environment. They have been constantly initiating the impeachment of liable framework for positioning standard codes for the usage of non-HCFCs foam in manufacturing domains.
Manufacturers are increasingly taking efforts for developing effective and reliable isopentane functions to flourish in the swelling industry. On a global scale, it has been observed that the usage of isopentane as a blowing agent for plastic processing in industries is rising. Isopentane has evidently been used for plastic processing based on its peculiar composition.
Swelling demand for blended isopentane for foam blowing processes in expandable polystyrene and polyurethane foams remained a notable factor driving global isopentane sales. Also, offerings made in the blended form for isopentane are also employed for this function, which is based on upper-hand capabilities for providing stability with ease in processing of foams.
Market players must take the function segment as a key opportunity for cashing in on the swelling demand for isopentane as EPS blowing agents from end-use industries such as plastics manufacturing and others. Also, surging GVA and index of production of varied expandable polyurethane manufacturing industries is propelling demand from different end uses.
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Will Sales of Isopentane Gain Traction Due to the Oxidative Dehydrogenation Process Trend?
Fact.MR evaluates that oxidative dehydrogenation of isopentane to form isoprene has now created a new phase of development for the market. Dehydrogenation of isopentane has been a prime contributor to the production of isoprene. Global consumption of isoprene is being primarily driven by the tire manufacturing industry, where it is consumed in the form of polyisoprene elastomers.
This manufacturing design is totally based on dehydrogenation of isopentane to produce isoprene. This process uses industrial standard dehydrogenation catalysis and an extraction distillation, which is further used as a solvent for other processes.
What are the Restraints being Faced by Isopentane Suppliers?
Dependence on the availability of crude oil has remained a matter of concern for key manufacturers of isopentane. Isopentane is referred to as a gasoline product, which is a derivative of crude oil.
Globally, crude oil prices are constantly soaring, and thus affecting the production of isopentane, creating major roadblocks for industry leaders. For key end-use industries, these costs poise a burden, especially for those who are struggling with their production outputs and capacity utilization rates.
Another notable concern is import and exports tariffs imposed by various countries. Regulatory bodies are adding significant tariffs on the supply of these hydrocarbons from one region to another. Increasing tariffs and additional costs for maintaining supply have left key suppliers in trouble.
Prices are constantly increasing for imports of key hydrocarbon compounds, including heavy, medium and light crude oil, kerosene, diesel oil, fuel oil, propane, gasoline, jet fuel, ethylene, etc.
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Which Region Offers the Largest Opportunity for Sales of Isopentane?
As per Fact.MR, North America is expected to account for over 37% of global isopentane demand in 2021. In 2020, U.S. isopentane demand grew 2.4% year-on-year, bucking initial scepticism about how the market would perform during a global pandemic. Across the U.S., total demand for isopentane reached 2,920 KT in 2020.
The U.S., being the largest market from a production and consumption point of view, has maximum number of market players positioned. It is the most suited arena for production sites with ease of raw material availability, prospering the demand curve for isopentane.
Surging economy and spiking investments in petrochemical projects fuel the tank of key players to boost their production bases here. Apart from robust production bases, production utilization rates also play crucial role in driving overall chemical industry potential, and even with market leaders contributing heightened greenfield investments will foster market stability for isopentane.
Why is China a Global Heavyweight for Isopentane Demand?
In 2020, China accounted for over 65% of East Asia isopentane consumption. China holds significant consumption potential for isopentane based on expanding chemical and petrochemical bases.
China holds a notable petrochemical output share and accounts for more than 20% of total petrochemical production, consistently fuelling demand for isopentane synthesis in end-use industries positioned here.
How Has Isopentane Demand Been Shaping across Established & Emerging Markets?
Japan: Similar to the U.S., Japan has been portraying development trends for isopentane across different applications. Manufacturers in Japan, infusing moderate capacity utilisation rates, will foster lucrative avenues in the dynamic isopentane business. Japan accounted for around 4% global consumption share of isopentane in 2020.
India: The market here has a notable development curve with a sparse petrochemical production outlook. India, being rich in hydrocarbons, petrochemical resources constantly stimulate demand for isopentane.
Ukraine: The Ukraine is relatively an emerging market for isopentane; however, demand is picking up at a significant pace. Many manufacturers in Europe are now clustering their production bases in Ukraine to experience ease of raw material and high capacity utilisation rate. Also, Ukraine offers significant production capacity to total sales volume of isopentane.
U.K.: The U.K. has a strong backing for isopentane owing to its established beauty care and cosmetics industry. It is estimated that the U.K. accounted for more than 4% share of the global market in 2020, valued at around US$ 125 Mn.
The U.K. has also adopted various development scenarios to stabilise swelling personal care demand in Europe. Sales of isopentane in the personal care industry bumps the consumption curve in the U.K.
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Why is Isopentane the Most-used Blowing Agent in Various End-use Industries?
As per Fact.MR, isopentane’s function as a blowing agent has gathered sufficient prominence in the market, and continues to showcase positive results in the long run.
Market players are trying their best to explore hidden functions of isopentane as a blowing agent to cater various end-use industries. Blowing agent as polyurethane and EPS additive demands an escalated research and innovation edge to harness incremental opportunity for isopentane distributors.
With losing 149 BPS, blowing agents as isopentane are expected to reach a market valuation of US$ 2 Bn by 2031.
Which Type of Blending Agent Holds Lucrative Avenues for Isopentane Manufacturers?
Pentane type blending agents are most prominently being used in the isopentane portfolio, rising at a CAGR of 6% based on structure advantages for proving its worth during chemical behaviour. Industries prefer pentane-based blending agents to increase the usability and effective properties of isopentane. Other prominent blending agents include cyclopentane and n-pentane.
Pentane accounted for 38% revenue share in 2020, and is expected to expand at an ascending CAGR of 6% during the forecast period. Pentane is expected to surpass a valuation of US$ 1.3 Bn by 2021-end.
With increased innovation and research in providing high-end composition of isopentane as a blending agent, it fuels the segment with enormous capabilities to foster the swelling fortunes in the industry.
How Has COVID-19 Impacted Revenue Generation from Isopentane?
Fact.MR evaluates that COVID-19 has significantly degraded demand for isopentane, as globally, all manufacturing sites and production houses across key countries were shut down in the view of lockdowns imposed by governments.
The isopentane industry, which grew at around 4.6% in 2019, witnessed a year-on-year growth of nearly 2.6% in 2020 with the onset of COVID-19. Demand was hit the most in the 2nd quarter of the year, when end-use industries such as petrochemical and plastic manufacturing were observed to be muted.
Business is more deeply affected as China, India, and the U.S. are notable countries for consumption of isopentane based on their petrochemical industry index and annual plastic consumption.
Global utilization rate of isopentane is now into a recovery phase where market leaders are strategizing their robust supply chains and production units to cater to swelling demand. Key players are focusing on improving capacity utilization rates to capitalize on the void in demand and supply.
According to Fact.MR’s market research analysis, leading isopentane manufacturers such as Phillips 66, ExxonMobil, Shell, Airgas, Praxair and Chevron Phillips together accounted for 45% share of global revenue in 2020. Most companies discussed in the report have focused on expansion, investments, acquisitions, delivery focus, portfolio expansion, and brand development.
Similarly, recent developments related to companies offering isopentane have been tracked by the team at Fact.MR, which are available in the full report. Assessment of import price, bulk price, contractual price, and producer / distributor price of isopentane has also been provided in the study by Fact.MR.
Isopentane Market Report Scope
Historical Data Available for
|KT for Volume and US$ Mn for Value|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Market Segments Covered in Isopentane Industry Analysis
- <95% Isopentane
- 95% - 97% Isopentane
- 97% - 99% Isopentane
- 99% Isopentane
By Blending Agent
- Blowing Agents
- Polyurethane Foam Additives
- EPS Additives
- Viscosity Controlling Agents
- Blowing Agents
- FAQs -
The global isopentane market is worth more than US$ 3.3 Bn at present.
Sales of isopentane are projected to increase at a CAGR of around 5.6% during 2021 – 2031.
Value sales of isopentane increased at a CAGR of 4.1% from 2016 to 2020.
Dehydrogenation of isopentane to form isoprene remained a bedrock for isoprene production, and is one of the key trends being observed in the market.
Growing demand for isopentane as a blowing agent stands as the core driver for the market.
As per ratings based on market share, market reach, and clientele, top 6 manufacturers of isopentane account for around 45% share in the market.
Top 5 countries driving demand for isopentane are the U.S., Germany, China, India, and Brazil.
North America accounted for over 37% of global isopentane demand in 2020.
The European market for isopentane is projected to expand at a CAGR of more than 5% through 2031.
The United States, Russia, Ukraine, and China are key producers of isopentane.
The market in South Korea and Japan will expand at around 5.6% and 5.8% CAGRs, respectively, with both countries together accounting for 35% share in the East Asia market.
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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