Butane Market is Expected to Grow at a CAGR of 5.10% with Business Opportunity, Development, Applications Analysis and Future Prospects

Butane is widely used as a mixture of isomers in various applications which propel its market growth during the forecast period of 2022 to 2029. Most prominently butane is used in the form of liquefied petroleum gas (LPG) in household and commercial applications.

Data Bridge Market Research analyses that the butane market which was growing at a value of 7.96 million in 2021 and is expected to reach the value of USD 11.85 million by 2029, at a CAGR of 5.10% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Butane is an alkane family hydrocarbon with four carbon atoms attached. Butanes can be one of two structural isomers, n-butane (normal butane), isobutene, or a mixture of the two. Butane is a colourless gas that is flammable and easily liquefied. Butane has a density of approximately 575 kg per cubic metre at 15 degrees Celsius, making it heavier than air. Butane has a boiling point of roughly -1 degree Celsius and a flash point of approximately -40 degree Celsius.

Recent Development

On February 14, 2020 The Egyptian Petroleum Ministry announced the signing of a US$ 2.5 billion contract for developing a lower-quality heavy fuels hydrocracking complex in Assiut, the largest oil refining project to be implemented in Upper Egypt. The Assiut complex would have a capacity of 2.8 million tonnes per year and would also produce butane and naphtha, which would be used in the production of high-octane gasoline.

In January 2020 As part of India's practice strategy, the Indian Oil Corporation Ltd (IOCL) announced plans to assist Ghana's National Petroleum Authority (NPA) in expanding the country's liquefied petroleum gas (LPG) network.

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Competitive Landscape and Butane Market Share Analysis

The butane market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to butane market.

Some of the major players operating in the butane market are:

Saudi Arabian Oil Co. (Saudi Arabia)
Exxon Mobil Corporation (U.S.)
CNPC (China)
BP p.l.c (U.K.)
Shell plc (U.K.)
PDVSA - Petróleos de Venezuela, SA. (Venezuela)
Gazprom (Russia)
Chevron Corporation. (U.S.)
Kuwait Petroleum Corporation (KPC) (Kuwait)
Petrobras (Brazil)
LUKOIL (Russia)
ROSNEFT (Russia)
Abu Dhabi National Oil Company (UAE)
China Petrochemical Corporation. (China)
Petroliam Nasional Berhad (Malaysia)
Eni S.p.A. (Italy)
ENOC Company (UAE)
NNPC (Nigeria)
EGPC (Egypt)
Equinor ASA (Norway)
Oil and Natural Gas Corporation (India)
P.T. Pertamina Gas (Indonesia)

Global Butane Market Scope

The butane market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

Gasoline Crude Oil
Natural Gas
Isobutane

Application

LPG
Residential
Commercial
Petrochemical Refineries

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Global Butane Market Dynamics
Drivers

Government subsidies program is fetching market growth
Butane demand is being driven by the increasing demand for LPG in various automotive and commercial fields and the ability to emit minimal carbon dioxide. A distinct factor indicates that the growing number of government initiatives for subsidies in places such as China, India, and Indonesia to promote the use of LPG over other fossil fuels will drive butane demand. Similarly, the increased adoption of natural gas vehicles in places such as Germany, the United States, India, and others due to government support will increase demand for butane. Other environmental factors, such as the daily high rise in the cost of fossil fuels, government rules, regulations, and norms, are also driving the butane market so well.

High application in petrochemical industry
Butane's next major application is in the petrochemical industry. It is used as a feedstock to produce a wide range of petrochemicals, including primary petrochemicals like ethylene and downstream petrochemicals like butadiene (a key raw material for the production of synthetic rubber). Butanes are also used as a blending agent in gasoline in refineries. Butane is also used as a fuel in cigarette lighters and as a propellant in aerosol sprays such as deodorants.

Opportunities

Favourable regulations
The overall market is a very exclusive market that is undergoing consolidation. As of the participants and other personas compete against each other, it is a fantastic opportunity for the market. Another possibility is to follow the government's rules and regulations so that not only the government, but also the consumers, become the market's backbone.

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Butane Market Regional Analysis/Insights

The butane market is analysed and market size insights and trends are provided by country, type and application as referenced above.

The countries covered in the butane market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominated the butane market because of supportive government policies and subsidies, China and India are the major contributors, resulting in increased demand for butane. The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

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