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.
Access Research Report of 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
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
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.
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