Isopentane Market: an overview
Isopentane, also known as 2-methyl butane, is a highly flammable and clear liquid at room temperature. It is used as foam blowing agent in the manufacturing of PU foam, Polystyrene etc.Various industrial gardes are available in the market for specific applications. For example Isopentane 40% is used for the cleaning process in the electronics as it is highly volatile and have low content of impurities such as Sulphur, benzene, olefins and total aromatics. Isopentane’s application as foam blowing agent is pretty dominant and driver the global isopentane market. The isopentane market growth has remained low in the past few years due to the availability of alternative compounds and high risk involved in handling isopentane. However, the isopentane market is expected to experience growth in-line with the global GDP rate with the increasing adaptation by the end-use industries particularly expandable polystyrene (EPS) manufacturers, as EPS comes with the benefit of recycling ease unlike other foams whose demand is on rise.
Isopentane Market: Dynamics
The use of isopentane as foam blowing agent in expandable polystyrene foam dominates the growth of the isopentane market. Usually, blended form (n-pentane and isopentane) is used for this application as it offers superior stability and ease in processing of the foam. EPS finds wide range of applications in the end use industry and drives the isopentane market. EPS ha applications in construction, packaging and specialty foam manufacturing areas, of which packaging and construction segment accounts over 75% of the global market. Ban of CFCs and phaseout plan for HCFCs has also increased the adoption of isopentane by end users. Currently, most countries in the world have initiated the phase 2 of the phase out management plan for HCFC under which the countries have to decrease their dependency on HCFCs that are used in foam manufacturing and refrigeration system to reduce the green- house gas (GHG) emissions below 90% than the set base line. For this purpose, the developing economies have been funded by the developed economies and global financial institutions like The World Bank. Under the phase 2 management plan countries are expected to stop the production of HCFCs and minimize the internal consumptions of HCFCs. Governments around the world have already started promoting alternative non- HCFC foam blowing agents and have started with the regulatory framework for setting up of standard codes for the use of these non HCFCs in foam manufacturing. For instance, in India more than 400 enterprises including MSMEs in foam manufacturing will be supported by the government to transform to non HCFC technologies and standard codes for the same have already been introduced. Isopentane also finds application in cosmetics and personal care products. However, its use is restricted to specific applications in the cosmetic products. For example, it is used as aerosol propellant and chemical solvent in shaving creams. The demand for isopentane in the cosmetic industry is most likely to remain stable due to availability of efficient alternatives such as butanes.
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The fluctuating prices of crude oil along with uncertainty in the production have negative impacts on the isopentane market. Its high flammability has also increased the safety concerns for the EPS manufacturers. Also, transportation of isopentane involves high risk. These are some of the restraining factors for the growth of isopentane market.
Isopentane Market: Segments
On the basis of product use case, the isopentane market is segmented as
On the basis of Applications, isopentane market is segmented into following categories
On the basis of geographic regions, the market for Isopentane is segmented into
Isopentane: Regional Outlook
Asia Pacific is the largest consumer of the isopentane in the world with more than one- third share of the global market. This demand is mostly from the EPS manufacturers and the demand in the region is further expected to with the implementation of phase 2 of HCFC phase out management plan prescribed by the Montreal Protocol. Europe is the second largest consumer of the isopentane and is expected to experience slow growth over the forecast period due to the recent agreement by EU on the ban of Styrofoam and single use plastics by 2021. These materials include ban on products made of oxo degradable plastics such as food containers made of expanded polystyrene. North America is also expected to follow the similar trend and switch to other alternatives. The Latin America & Middle East & Africa isopentane markets are expected to grow in line with the global GDP.
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Isopentane: Key Players
The global isopentane market is relatively consolidated with only few players accounting to major share in the market. Some of the Key players include, Royal Dutch Shell, Chevron Phillips, ExxonMobil, Shenyang Huifeng·Petrochemical Co.,Ltd, Jun Yuan Petroleum Group, TOP Solvent Company Limited, and others.
The research report presents a comprehensive assessment of the Isopentane market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Isopentane market report provides analysis and information, according to market segments such as geographies, application, and industry.
The Isopentane Market Report Covers Exhaustive Analysis On:
The Isopentane Market Regional Analysis Includes:
The Isopentane report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The Isopentane report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The Isopentane report also maps the qualitative impact of various market factors on market segments and geographies.
The Isopentane Market Report Highlights:
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