A research study titled, “Butane Market by product, technology, and application – global industry analysis and forecast to 2025”, published by crystal market research.
The global butane market was worth USD 60.04 billion in the year of 2016 and is projected to touch nearly USD 93.30 billion by 2025, while registering itself at a compound annual growth rate (CAGR) of 5.02% during the forecast period. The market industry is anticipated to witness substantial growth with decent compound annual growth rate during the forecast period due to increasing use of liquid petroleum gas (LPG) for a variety of applications. It is likely to have a positive prospect over the approaching years. Butane is employed in fuel manufacturing procedures, owing to its characteristics like easily liquefiable and high flammability. The market demand of LPG is growing, as its adoption as household fuel, chiefly in Asia Pacific and Africa, is expected to fuel butane market. In many countries, the government is offering subsidy on LPG rates to encourage its use as domestic fuel. The government is encouraging its utilization in order to trim down coal need and limit carbon footprints.
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The Butane Market is segmented as follows:
Butane Market Assessment and Forecast, By Application, 2016-2025:
Liquefied Petroleum Gas (LPG)
Butane Market Assessment and Forecast, By Region, 2016-2025 ($Million):
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
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Major players operating in this market industry involves ConocoPhillips Inc., British Petroleum (BP), Exxon Mobil Corporation and Chevron Corporation. Few other companies that are having major operations in butane market are; China Petroleum and Chemical Corporation (SINOPEC), Royal Dutch Shell PLC., China National Petroleum Corporation (CNPC), Total S.A., Linde, Air Liquide and Praxair.
Asia Pacific conquered the regional sector due to the rise in the gas requirement in chemical processing units and refineries in China. Asia Pacific region was estimated around USD 22.17 billion in 2015. Growth of numerous end-use industries like infrastructure and automotive in Asia Pacific and Latin America is predicted to drive the market. Encouraging government regulations like subsidies and several connections for LPG are the key factors which led to the rise in LPG demand and subsequently butane demand in these regions.
List of Tables:
Table 1.Butane Market, By Application ($Million), 2016-2025
Table 2.Petrochemicals Market, By Region ($Million), 2016-2025
Table 3.Liquefied Petroleum Gas (LPG) Market, By Region ($Million), 2016-2025
Table 4.Chemical/ Petrochemical Market, By Region ($Million), 2016-2025
Table 5.Residential/ Commercial Market, By Region ($Million), 2016-2025
Table 6.Auto fuel Market, By Region ($Million), 2016-2025
List of Figures:
Figure 1.Butane Market, By Application, 2016 & 2025 ($Million)
Figure 2.Butane Market, By Region, 2016, ($Million)
Figure 3.BP p.l.c.: Net Revenues, 2014-2016 ($Million)
Figure 4.BP p.l.c.: Net Revenue Share, By Segment, 2016
Figure 5.BP p.l.c.: Net Revenue Share, By Geography, 2016
Figure 6.China National Petroleum Corporation (CNPC): Net Revenues, 2014-2016 ($Million)
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About Crystal Market Research:
Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
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