Petroleum Ether Market: Introduction
- Petroleum ether is a light hydrocarbon of the pentane family. It is a natural byproduct of the gasoline refining process. It is also known by names such as ligroin, mineral spirit, white spirit, safety solvent, SBP spirit, painter’s naphtha, and benzene. Petroleum ether is often used as a non-polar solvent. It is commonly used as a blowing agent for polystyrene. Furthermore, it is employed as chemical intermediate and for research purposes such as microanalysis of dioxins. Petroleum ether is used as non-polar solvent for oils, fats, and waxes.
- Petroleum ether is highly volatile and flammable. It consists of petroleum fractions such as aliphatic hydrocarbons (for instance, pentane, hexane, and heptane).
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Key Drivers of Petroleum Ether Market
- Increase in demand for solvents in pharmaceutical and paints & coatings industries is a major factor driving the global petroleum ether market. Rise in demand for solvents in the agrochemicals sector is also fuelling the global petroleum ether market.
- In the pharmaceutical sector, petroleum ether is often used as a solvent in active pharmaceutical ingredient (API) manufacturing, separation of various products by means of chromatography, and during the purification process of API. According to the World Health Organization, approximately 17.9 million people across the globe died from cardiovascular diseases in 2016, representing nearly 31% of all global deaths. About 85% of these deaths were due to heart attack and stroke. According to the American College of Cardiology Foundation, cardiovascular diseases accounted for 840,768 deaths in the U.S. in 2016; of these, 635,260 deaths were owing to cardiac diseases. All these statistics depict the need for API manufacturing. Petroleum ether is extensively used as a solvent in the manufacture of API. This is estimated to boost the demand for petroleum ether in the near future.
- Petroleum ether is used as a blowing agent in formulation of polystyrene foam in the building & construction sector. Growth in urbanization and increase in income of the middle class population are some of the factors expected to drive the demand for polystyrene foam in the near years. Furthermore, urbanization is anticipated to create space requirements in developing regions. This is estimated to propel the demand for polystyrene foam, thereby augmenting the demand for petroleum ether as a blowing agent. However, currently, the construction sector is adversely impacted due to the coronavirus. However it is likely to bounce back in the next few years.
Stiff Competition from Counterparts to Hamper Petroleum Ether Market
- Commonly available solvents include petroleum ether, diethyl ether, chloroform, methanol, ethanol, isopropanol, n-Butanol, acetone, acetonitrile, isopropyl ether, dioxane, tetrahydrofuran, dichloromethane, pentane, hexane, benzene, cyclohexane, iso-octanol, and mixtures of these solvents. These solvents possess different properties and are used in a wide range of industries. However, lower cost of petroleum ether vis-à-vis solvents mentioned above is expected to drive the demand for petroleum ether in the near future. Furthermore, petroleum ether is less hygroscopic and flammable. It is more ideal for hydrophobic lipids than diethyl ether. Thus, it is extensively used as a solvent for lipid extraction.
North America to Hold Prominent Share of Global Petroleum Ether Market
- Based on region, the global petroleum ether market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is expected to dominate the global market during the forecast period. It is anticipated to be followed by Europe. Rise in incidence of chronic diseases and increase in focus on generic and specialty drugs are estimated to drive the demand for petroleum ether as a solvent in North America. Furthermore, technological advancements in production processes of API is expected to boost the consumption of petroleum ether in the region in the near future.
- The market in Asia Pacific is expected to expand at a faster pace compared to that in the other regions during the forecast period. Growth in incidence of cancer and other lifestyle associated diseases is estimated to lead to an increase in research & development activities by key players. This is anticipated to boost the petroleum ether market in Asia Pacific.
- The petroleum ether market in Latin America and Middle East & Africa is highly consolidated, owing to the presence of a handful number of manufacturers in these regions. Furthermore, these regions rely on import of petroleum ether from developed countries.
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Key Players in Petroleum Ether Market
The petroleum ether market is highly concentrated. The leading players accounts for major share of the market. Prominent manufacturers operating in the petroleum ether market include:
- Sisco Research Laboratories Pvt. Ltd.
- Honeywell International Inc
- FUJIFILM Wako Pure Chemical Corporation
- ANPEL Laboratory Technologies (Shanghai) Inc.
- Eurol BV
Global Petroleum Ether Market: Research Scope
Global Petroleum Ether Market, by End-use Industry
- Paints & Coatings
- Building & Construction
- Others (Fabric Cleaning, Agrochemical, etc.)
Global Petroleum Ether Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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