The global butane market size is expected to reach USD 81.62
billion by 2025, according to a new report by Grand View Research, Inc.
Increasing monetary assistance from respective governments in the form of
subsidies for LPG coupled with expanding population is expected to drive the
market over the forecast period. Growing population and disposable income is
projected to push the market growth over the coming years.
Rising industrialization coupled with capacity expansions of refineries
in emerging economies of China and India is expected to fuel the butane
industry demand. Growing concern regarding the impact of conventional fuel on
the environment is projected to boost the LPG application market.
Increasing need for energy supply in automotive sectors is anticipated
to drive the growth for butane industry. Wide range of applications of butane
in petrochemicals, refrigerants, as a fuel for cigarette lighters, as propellants
in aerosol sprays is expected to augment the market positively.
Growing demand for energy consumption on account of rapid urbanization
is anticipated to augment butane market over the coming years. Companies such
as Valero Energy Corporation, Energy Corporation of America, and Praxair
adopted expansion strategies to enhance the production capacity.
Full Research Report On Butane Market Analysis:
http://www.grandviewresearch.com/industry-analysis/butane-market
http://www.grandviewresearch.com/industry-analysis/butane-market
Further key Findings From the Study Suggest:
·
LPG segment dominated the butane
application in 2015 accounting for over 66.6% of the global market
·
Increased demand for LPG in residential,
commercial, industrial, and refinery is expected to boost the LPG market
·
Butane gas is used in LPG application areas
including residential, industrial, autofuel, refinery, and petrochemicals among
others
·
Residential & commercial segment is
expected to be inhigh demand for LPG application industry by 2025 accounting
for over 50.2% of the overall market
·
Asia Pacific region is anticipated to grow
at a significant rate of 4.2% over the forecast period owning to growing demand
for fuel gas
·
U.S. EPA has filed litigation on the use of
MTBE for gasoline blending owing to increased incidences of groundwater
contamination
·
Rising investment on LNG by the governments
is leading to the production of butane gas, in addition to R&D is expected
to propel the market over the coming years
·
Companies such as Sinopec Group, Valero
Energy Corporation, and Total S.A. offerservices for refining, industrial, and
nuclear power sectors among othersis projected to propel growth of the market
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Of This Category By Grand View Research At: https://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
Grand View Research has segmented the butane market on the basis of application
and region:
Global Application
Outlook (Volume, Million Tons; Revenue, USD Billion, 2014 - 2025)
·
LPG
o Residential/Commercial
o Chemical/Petrochemical
o Industrial
o Autofuel
o Refinery
o Others
·
Petrochemicals
·
Refineries
·
Others
Global Regional
Outlook (Volume, Million Tons; Revenue, USD Billion, 2014 - 2025)
·
North America
o U.S.
o Canada
o Mexico
·
Europe
o UK
o Germany
o RoE
·
Asia Pacific
o India
o China
o RoAPAC
·
CSA
·
MEA
Access Full Press
Release of this Report: https://www.grandviewresearch.com/press-release/global-butane-market
About Grand View
Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information:
https://www.grandviewresearch.com/
