The global Butane Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
Global Butane Market is anticipated to grow significantly in the forecast period owing to the rise in demand for LPG (liquid petroleum gas) for wide range of applications. Butane is a flammable, colorless gas with petrol like smell. It is increasingly used as fuel additive or a solvent carrier and formulator. For non-fuel uses, butane is used for applications in aerosol coatings & sprays, paint dyes, insulating polyurethane, automotive spray waxes, etc.
Key Players:
- British Petroleum
- Chevron Corportation
- China National Petroleum Corporation (CNPC)
- Valero Energy Corporation
- Conocco Phillips Inc.
- Devron Energy Corporation
- Energy Corporation of America
- Exxon Mobil Corporation
- Proton Gases India Pvt. Ltd.
- Aditya Air Products Pvt. Ltd.
- Perenco
- Royal Dutch Shell plc
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Growth Drivers:
Butane market is majorly driven by increase in government initiatives to promote the use of LPG as a heating fuel especially in emerging regions of Africa and Asia Pacific due to the growing population. Moreover, the rise of natural gas vehicle is also influencing the butane industry. Petroleum capacity expansion is growing speedily in the regions of Asia Pacific and Middle East, which is again supporting the growth of butane market.
Unstable prices of raw material and prohibition on MTBE based gasoline blending in several states in the United States for ground water pollution is a major challenge for the market players. Also, the growing demand for energy supply in automobile sector and technological developments by organizations are the opportunities in the market of butane.
Application Outlook:
- LPG
- Residential/Commercial
- Chemical/Petrochemical
- Industrial
- Autofuel
- Refinery
- Petrochemicals
- Refineries
LPG segment is expected to lead the industry owing to the growing heating fuel demand from low-temperature regions. Also, increase in demand and use of LPG as a cooking fuel along with extensive transportation in Asia Pacific and European countries is expected to stimulate LPG segment in the coming years.
Regional Outlook:
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- RoE
- Asia Pacific
- India
- China
- RoAPAC
- CSA
- MEA
Emerging economies from Asia Pacific regions like China and India are expected to drive the demand for butane due to increase in energy need for fuel and cooking purpose.
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