Product Code: 66298
The market for butane is expected to register a CAGR of around 4%, during the forecast period. One of the major factors driving the market studied is the rising demand from petrochemical industries. Increasing R&D in the field of renewable sources is expected to affect the growth of the market studied.
- The increasing use of butane in power generation is likely to act as an opportunity in the future.
- Asia-Pacific dominated the world market, with the largest consumption generated from China and India.
Key Market Trends
Industrial segment to be one of the Fastest Growing
- Butane is a highly flammable, colorless, and easily liquefied gas. Butane is a fossil fuel and is used in homes, on farms, in industry, transportation, etc.
- Butane is used as LPG, refrigerant, lighters, and aerosols. It is also used to fuel the cutting torches and other equipment. Due to its ability to efficiently compress, gas canisters are an excellent choice for storing butane.
- The application of butane in LPG is expected to increase the market of butane during the forecast period.
- LPG is used as industrial fuel (in solution heating processes) and it is also used in centralized heating solutions, both for domestic, as well as industrial premises. Some other industries that rely mostly on LPG are food processing and paper industries. It is also used to produce electrical energy by running turbines.
- It has a lesser damaging impact on the atmosphere and environment and is more energy-efficient.
- The paper and food processing industries are the top-most industries that heavily rely on LPG. It also has a major role in the plastic industry and is used in making explosives.
- Owing to the enormous scope of butane in numerous end-user industries, the butane market is expected to grow during the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific dominated the global market share. It is the dominant region in the automobile industry. Automakers have invested hugely in developing diverse automobiles that run on alternative fuels. Some of them are gasoline (Iso-butane), CNG, etc.
- These advanced technology vehicles are being introduced for sale at a rapid rate. Different technologies are being introduced, and the automakers are developing a range of automobiles that run on different fuels.
- Due to the growing transportation activities and increasing need for clean fuel sources in countries, such as China and Japan, the usage of butane is increasing in the region.
- China is the global leader in automotive production. The total number of vehicles produced in China, in 2018, was 27,809,196 units. The total number of vehicles produced in Japan was 9,728,528 units, in the same year.
- Owing to the abovementioned factors, the consumption of butane as a fuel is expected to increase in the Asia-Pacific region, during the forecast period.
The butane market is highly fragmented in nature. The major companies include Exxon Mobil Corporation, BP plc, Royal Dutch Shell Plc, and Merck KGaA, among others.
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Table of Contents
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Rising Demand in Petrochemical Industry
- 4.1.2 Increasing Demand from Metal Working and Construction Industry
- 4.2 Restraints
- 4.2.1 Increasing R&D in the Field of Renewable Sources
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
- 4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5 MARKET SEGMENTATION
- 5.1 End-user Industry
- 5.1.1 Transportation
- 5.1.2 Residential
- 5.1.3 Agriculture
- 5.1.4 Refrigerant
- 5.1.5 Industrial
- 5.1.6 Other End-user Industries
- 5.2 Geography
- 5.2.1 Asia-Pacific
- 18.104.22.168 China
- 22.214.171.124 India
- 126.96.36.199 Japan
- 188.8.131.52 South Korea
- 184.108.40.206 Rest of Asia-Pacific
- 5.2.2 North America
- 220.127.116.11 United States
- 18.104.22.168 Canada
- 22.214.171.124 Mexico
- 5.2.3 Europe
- 126.96.36.199 Germany
- 188.8.131.52 United Kingdom
- 184.108.40.206 Italy
- 220.127.116.11 France
- 18.104.22.168 Rest of Europe
- 5.2.4 South America
- 22.214.171.124 Brazil
- 126.96.36.199 Argentina
- 188.8.131.52 Rest of South America
- 5.2.5 Middle East & Africa
- 184.108.40.206 Saudi Arabia
- 220.127.116.11 South Africa
- 18.104.22.168 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share/Ranking Analysis**
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 BP plc
- 6.4.2 Chevron Phillips Chemical Company
- 6.4.3 China Petroleum & Chemical Corporation
- 6.4.4 ConocoPhillips Company
- 6.4.5 Dow
- 6.4.6 Exxon Mobil Corporation
- 6.4.7 Linde
- 6.4.8 Merck KGaA
- 6.4.9 Royal Dutch Shell Plc
- 6.4.10 Sika AG
- 6.4.11 Total
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increasing Usage of Butane in Power Generation
- 7.2 Alternative to Conventional Fuels in Marine Industry