Infinium Global Research has added a new report on Global Butane Market. The report predicts the market size of Butane is expected to reach XX billion by 2023.
Butane is a flammable hydrocarbon gas liquefied through pressurization. Butane is a gaseous fuel derived from petroleum. It is used primarily for camping, cooking and cigarette lighters. Butane is blended with propane and commercially sold as LPG (liquefied petroleum gas). Butane exists in two forms, n-butane and iso-butane. N-butane is technically butane fuel and iso-butane is an isomer of butane with same chemical formula as butane but different physical properties. Butane is used in fuel manufacturing processes due to its properties such as highly flammable and easily liquefiable.
The global Butane market was sized over USD 60 billion in 2015. The global Butane market is projected to reach USD 81 billion by 2023, growing with a CAGR of X.XX% to X.XX% from 2017 to 2023. The rising demand for Liquid Petroleum Gas (LPG) is the key factor driving the growth of global butane market from residential and commercial sectors where it is mainly used as a domestic fuel. Moreover, use of butane as petrochemical feedstock for producing other derivates and ethylene are also driving the growth of this market. Furthermore, rising standards of living and disposable incomes are also anticipated to drive the growth of global butane market over the forecast period. However, volatility in crude oil prices and stringent government regulations owing to growing environmental concerns are the prime factors restraining growth of global butane market. Rising industrialization with capacity expansions of refineries in emerging economies like India and China are likely to bring more opportunities to the butane industry. Increasing need for energy supply in automotive sectors as well as technological developments by companies for increasing the application areas for butane are anticipated to bring more opportunities to global butane market over the forecast period.
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The report segments the global Butane market by applications and region. The global butane market is segmented on the basis of application as LPG, petrochemicals, refineries and others. LPG is further sub segmented into residential & commercial, chemical & petrochemical, auto-fuel, industrial, refinery and others. Moreover, LPG dominates the applications segment with share accounting more than 60% in 2015. The residential & commercial growth sub segment is expected to cover 50% of the overall butane industry over the forecast period.
Valero Energy Corporation
Exxon Mobil Corp.
Royal Dutch Shell PLC
China National Petroleum Corp.
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Key topics covered:
2. Executive Summary
3. Global Butane Market Overview
4. Global Butane Market : IGR Snapshots
5. Global Butane market by Application (USD Million, KT) 2017 – 2023
6. Global Butane Market Analysis, by Region (USD Million, Kt) 2017 – 2023
7. Company Profiles
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