H1 2023: Isopentane’s prices remained low in USA in H1 2023. The primary causes of the price reduction were the volatile upstream crude oil prices and the declining refrigerant market demand. Furthermore, the government has hiked interest rate which dampened shoppers' excitement for purchases. Furthermore, as reported by the US Bureau of Labor and Statistics, during the course of last three months of H1 2023, US exports to other nations had decreased. Similarly, In the European market, isopentane prices dropped during H1 2023. The drop was caused in part by declining downstream industry demand combined with higher interest rates. Furthermore, supply networks were disrupted by the French strike. There was now enough material on the European market. This, together with declining demand, opened the door for constrained demand supply fundamentals in the area, which in turn affected the isopentane price across Europe. In the Indian market, pessimistic market views regarding isopentane were prevalent throughout H12023. The main causes of the negative market sentiments due to the declined demand by the downstream EPS and PU foams sectors.
The global Isopentane market stood at approximately 1900 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 5.50% during the forecast period until 2032.
Saturated hydrocarbons combine to form a branching chain that is known as isopentane. There is an alkane group with five carbon atoms in this branched chain of hydrocarbons. Because of its superior chemical makeup and the presence of the hydrocarbon group, isopentane has found widespread application in a wide range of sectors. Isopentane is mainly utilized in the production of polyurethane foam and expanded polystyrene, which are used in a variety of end-use industries. It is also used in the creation of PU foams, and other foams as a blowing agent for foam. Isopentane 40% is utilized in the electronics cleaning process since it is very volatile and contains very little contaminants such benzene, sulphur, total aromatics, and olefins. While almost insoluble in water, iso-pentane exhibits excellent solubility or limitless miscibility in a wide range of organic solvents, including aromatics, paraffins, ethers, esters, and chlorinated hydrocarbons. As such, the product can be used in a variety of applications like personal hygiene items like shower gel and shaving foam. Foams made of EPS and PU are used for insulation, packaging, and other purposes in a variety of end-use industries. The growing need for EPS and PU foams is expected to propel the isopentane market.
The primary factor propelling the worldwide isopentane market is its use as a foam blowing agent in expandable polystyrene foams. For this application, blended isopentane is used because it offers better stability and makes foam manufacturing easier. There are numerous uses for expandable polystyrene (EPS) in end-use industries. Applications for EPS may be in the construction, packaging, and specialized foam production sectors; among these, the construction and packaging segments hold a significant portion of the global market. The global Isopentane market is anticipated to touch roughly 3200 thousand tonnes by 2032.
Due to the presence of important manufacturers and an increase in trade activity from China, Asia Pacific led the global market in 2022 and is likely to maintain this position in the coming years. Over the course of the forecast period, Asia Pacific is anticipated to grow at one of the fastest rates among regional markets. This growth will be primarily driven by the rising demand for the EPS and PU foams from key applications, such as automotive, packaging, and construction, in emerging economies like China and India. Furthermore, the Asia Pacific region's fast expanding building sector will aid in regional development. Over the course of the forecast period, North America is expected to maintain a significant share of the global isopentane market. This can be attributed to the electronics, construction, and packaging industries' increasing demand for isopentane.
Based on the end-user industry, the global Isopentane market is segmented into EPS Blowing Agent, Electronic Cleaning, Chemical Solvent, and Others. Among these, EPS Blowing Agent is the major segment and held about 34% of the global Isopentane market in 2022. Because it is very volatile and has few contaminants such benzene, sulphur, and olefins, isopentane 40% is used in the cleaning process of electronics. The main uses of isopentane are as a solvent for oils and fats, as well as in the synthesis of isoprene and insecticides.
Major players in the Global Isopentane market are Shell, Phillips 66, CNPC, ExxonMobil Chemical, TOP Solvent, Junyuan Petroleum Group, South Hampton Resources, Aeropres Corporation, Diversified CPC, and Rizhao Changlian.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Isopentane which covers production, demand and supply of Isopentane market in the globe.
• To analyse and forecast the market size of Isopentane
• To classify and forecast Global Isopentane market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Isopentane market in the globe.
To extract data for Global Isopentane market, primary research surveys were conducted with Isopentane manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Isopentane market over the coming years.
ChemAnalyst calculated Isopentane demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Isopentane. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Isopentane manufacturers and other stakeholders
• Organizations, forums and alliances related to Isopentane distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Isopentane manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Isopentane market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
1900 thousand tonnes
Market size Volume in 2032
3200 thousand tonnes
Growth Rate
CAGR of 5.50% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (EPS Blowing Agent, Electronic Cleaning, Chemical Solvent, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Member - Board of Directors
Osaka Gas Co. Ltd
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What was the net market size of Isopentane in terms of volume in 2022?
Ans:
The global market size of Isopentane has reached approximately 154 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Isopentane?
Ans:
Asia Pacific region is the leading consumer of Isopentane globally.
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