Introduction
Proliferating demand for high octane gasoline across the globe is a key driving factor for the C5 – C8 normal paraffin market. As C5 – C6 normal paraffin is commonly consumed for the production of iso-C5/C6 compound that further combined with the gasoline in order to enhance an octane number of gasoline.
Similarly, with growth of automotive industry as well as growing gasoline-powered vehicle parc in developing region that in turn is expected to result in increasing demand for high octane gasoline, further driving the growth of C5 – C8 normal paraffin market over the forecast period.
Moreover, recovery of oil and gas industry coupled with growing refining capacity provides impetus for market growth. Moreover, C5 – C8 n-paraffin fractions are further separated and processed to form several chemical products such as n-pentane, n-hexane and n-heptane, among other chemical compounds.
Generally, n-paraffin are used as special-purpose solvents in multiple industries such as cleaning, adhesives and sealants and pharmaceutical, among others. Thereby, growing demand for C5 – C8 derivative compounds is anticipated to further accelerate the growth of market over the forecast period.
Demand from different sectors is expected to rise, resulting in gasoline-blending to become leading application
C5 – C8 n-paraffin fractions are further processed and separated to form several chemical products such as n-pentane, n-hexane, and n-heptane, among several other chemical compounds. The demand for n-pentane for the production of polystyrene foam and pharmaceuticals is growing which in turn is fueling the growth of n-pentane in the market.
Furthermore, the swelling demand for n-Hexane from end-use industries such as adhesive and sealant, agrochemical, and pharmaceutical, among others is anticipated to drive the demand for n-hexane and subsequently benefit the C5-C8 normal paraffin market over the course of the forecast period. N-Heptane is employed various synthesis and adhesive and sealant applications.