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Pentane Market to Garner $159.8 Million, Globally, By 2030 at 4.3% CAGR, Says Allied Market Research
Rise in demand from end-user industries, beneficial properties of pentane, and affordability have boosted the growth of the global pentane market. However, strict government regulations restrain the market growth. On the contrary, surge in use of pentane in fuel blending and formulation is expected to open new opportunities in the future.
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By type, the n-Pentane held the largest share in 2020, accounting for nearly three-fourths of the global pentane market, due to its use in various personal care and industrial aerosol products as aerosol propellant. However, the isopentane segment is expected to register the highest CAGR of 5.2% during the forecast period, as it is extremely volatile and flammable.
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By application, the blowing agent segment held the lion's share in 2020, contributing to nearly two-fifths of the global pentane market, due to the thermal and physical characteristics of pentane. However, the electronic cleansing segment is estimated to manifest the highest CAGR of 5.8% from 2021 to 2030, due to their high volatility and low boiling point.
By region, the global pentane market across North America dominated in 2020, holding nearly two-fifths of the market, due to increase in production of transportation vehicles in the U.S. However, the market across Asia-Pacific is projected to portray the highest CAGR of 6.1% during the forecast period, owing to rise in requirement of transportation fuel, increase in disposable income, and surge in number of automotive users.
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Pawan Kumar , the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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