Butane Gas Cartridges Market to Witness Increase in Revenues by 2021-2031

Key Highlights:

In terms of value, the global butane gas cartridges market was stood around US$ 400 Mn in 2018 and is anticipated to expand at a CAGR of more than 4% from 2019 to 2027
Stoves application accounted for largest share of the butane gas cartridges market in terms of value with more than 35.0% share in 2018 followed by food & beverages.
Growing demand for portable energy storage systems such as butane gas stoves for outdoor activities such as picnic, camping, and others have boosted the sales of butane gas cartridges, globally
Based on region, Asia Pacific held a major share in 2018 and is expected to remain dominant region during the forecast period. Increase in demand for portable energy storage systems in countries such as China and India propels the demand for butane gas cartridges
After Asia Pacific, North America is the major region which accounted for more than 20% of the butane gas cartridges in 2018.It is expected to exhibit moderate growth rate during the forecast period
Small traders and distributors are actively selling integrated butane gas cartridges stoves to individual customers. Around 30-35% butane gas cartridges is sold through e-stores and rest is sold directly through wholesalers and retailers
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Volatility in Crude Oil Price and Risk Associated With Bursting of Gas Cartridges May Hamper Overall Demand of Butane Gas Cartridges

The raw material for production of butane gas are crude oil and natural gas. The compressed gas is then filled into cartridges or canisters and is sold to specific customers.
Crude oil and natural gas are traded in the global market. Butane gas is a derivative of natural gas. Thus, demand for butane gas cartridges is affected by prices of crude oil and natural gas.
Prices of crude oil and natural gas are expected to rise moderately, which is likely to raise the prices of butane gas cartridges during the forecast period.
Furthermore, Butane gas cartridges are predominantly utilized for energy storage such as in gas stoves. More than 100 companies are engaged in the distribution and production of butane gas cartridges. Some of these companies do not comply with acceptable standards, which leads to major fire hazards resulting in loss of property and/or life. Australia has already banned using these cartridges owing to increase in the number of accidents every year
This is one of the major factor which may restrict the sales of butane gas cartridges during the forecast period 2019 to 2027
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This release was published on openPR.