Global pentane plus market is expected to drive over the forecast period owing to increasing ethanol and gasoline demand as the product is widely used for their blending process. Global demand is expected to further enhance in the future with the oil sand production.
Pentane plus is a natural gas liquid. Pentane is a key raw material followed by heptane, benzene, hexane and octane. The product has a huge demand as a transportation fuel, and it is expected to drive the market with an increase in natural gas liquid production.
Other major applications include industrial processes and textile. Pentane plus is also added to natural heavy crude in order to make them easy to transport through pipes. The product helps in smooth oil flow in pipes which is expected to enhance global industry demand over the forecast period.
Apart from natural heavy crude, pentane plus is also as an additive for other oil mixes for smooth and easy pipeline transportation. Emerging economies such as India, China, Vietnam, Taiwan, and South Korea are expected to witness high gasoline demand over the forecast period.
This is expected to drive overall product market growth in the future. Pentane plus production process may result into occurrence of high vapor explosion hazards. Such high probability of hazard occurrence which may lead to huge loss of lives and environment is expected to restrain global industry demand over the forecast period.
Global pentane plus industry is segmented on the basis of octane number. Octane number not only defines fuel efficiency and quantity but also helps in identifying application areas. Higher octane number fuels are mainly used for petrol engines with high performance characteristics.
Lower octane fuels are utilized for diesel engines. There are number of problems associated with low octane rating fuels such as engine knocking issues. It is important to use correct pentane plus for different transportation fuels such as petrol and diesel. Lower octane pentane plus, if applied to petrol, may lead to engine knocking.
North America was a leading global industry as the U.S. has established as a major pentane plus exporter. Shale gas plays in the region has increased natural gas liquid production which has resulted into high pentane plus production regionally.
Asia Pacific is expected to witness highest growth owing to enhancing shale gas production initiatives such as China and Australia. Regional government initiatives to promote unconventional energy production are expected to further drive regional industry demand over the forecast period as the product is widely used for ethanol blending.
Developing economies such as India, China, Vietnam, Taiwan, and South Korea are expected to witness increase in transportation fuel in the future. This means augmenting gasoline demand in emerging countries is expected to drive overall industry growth owing to its blending function.
Middle East & Africa is expected to experience high growth over the forecast period owing to well-developed oil & gas infrastructure in the region. Central & South Africa is expected to witness high industry demand in the future as the region is undertaking oil & gas development initiatives.
Global industry is consolidated in nature. Major companies are GAIL India Ltd., Exxon Mobil Chemical Company, The Dow Chemical Company, Saudi Basic Industries Corporation, Petrochemical Commercial Company.
Other industry participants include Bandar Imam Petrochemical Company, Boubyan Petrochemical Company, Saudi Kayan Petrochemical Company, Iran Petrochemical Commercial Company, and Qatar Petrochemical Company.
The market is expected to be dominated by established industry participants who are expected to make it more competitive for new industry players to enter the market. China is expected to attract significant number of market players owing to shale gas developments in the region coupled with high transportation fuel demand.
Avail customized purchase options to meet your research needs:
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Speak to the report author to design an exclusive study to serve your research needs.
A testimonial for service excellence represented in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.