Press release
Butane market size is likely to exceed 265 million tons by 2022, with estimated gains at over 2.7%
LPG finds wide applications across numerous sectors such as residential, commercial, and automobile and agriculture. It is becoming a popular energy source due to high replacement potential, considering its environmental benefits over other energy sources. The major advantage of LPG is low emission of CO2, which makes it an efficient alternative for conventional fossil fuels.
Indonesia government had launched paraffin-to-LPG conversion program to promote usage in the country, and distributed 3 kilo refillable LPG cylinder and a stove. South Africa, where awareness and marketing of the product is yet to be implemented, especially in rural areas are focusing on LPG promotion.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/113
increasing autogas use owing to functional and cost benefits over oil based fuels such as gasoline or diesel is likely to drive demand. As of 2014, there are more than 25 million units of autogas vehicles in market and is widely used in countries such as turkey, South Korea, Poland, Italy and Russia.
Autogas has high energy content and burns easily compared to other energy sources or fuels, consumption has been rapidly increasing from the last few years, majorly due to its environmental benefits. Government of countries such as Algeria and Australia are promoting vehicle use to the local public.
Ground water contamination by MTBE leakage coupled with increasing ethanol demand as substitute for gasoline blending is likely to challenge future growth. Stringent regulations by the U.S. EPA for additives & fuels have led to MTBE ban in gasoline blending. However, MTBE use for gasoline blending is still continued in Middle East and Asia Pacific owing to lenient government norms.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/113
LPG butane market size was the largest and was valued at more than USD 120 billion in 2014. Increasing heating fuel demand in cold regions globally coupled with cooking fuel applications in Asia Pacific is likely to drive butane demand for LPG manufacturing. Also, many European and Asian countries have been adopting LPG as a transportation fuel.
Petrochemical application occupied more than 16% of the total demand and is likely to grow at highest rates up to 2022. Petrochemical industry growth in the Middle East is likely to drive demand over the forecast period. Ethylene capacity growth in the Middle East is one of the major factors prompting growth butane demand.
MENA butane market share accounted for over 18% of the total volume in 2014. Increasing LPG use as feedstock in substitution for crude oil & natural gas in refineries and chemical industries has increased the demand potential in the region. The region is anticipated to witness high growth rates especially in Saudi Arabia, Qatar, UAE and Nigeria.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: https://gminsights.wordpress.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Butane market size is likely to exceed 265 million tons by 2022, with estimated gains at over 2.7% here
News-ID: 692811 • Views: …
More Releases from Global Market Insights, Inc.
Hepatitis B Vaccine Market Set to Surpass $12 Billion by 2034
The global hepatitis B vaccine market is poised for significant expansion over the next decade, fueled by rising liver disease cases, expanded immunization coverage, and advancements in vaccine development. Valued at USD 6.7 billion in 2024, the market is projected to reach USD 7.3 billion in 2025 and surge to USD 12 billion by 2034, reflecting a healthy compound annual growth rate (CAGR) of 5.7%.
A major driver behind this growth…
Rare Sugar Market Top 3 Trends, Covid-19 Outbreak, Factors Driving, Threats, Cha …
Rising awareness regarding health & fitness and the subsequent shift in consumer trends towards low-calorie sweeteners will boost rare sugar market share over the forecast spell. Recent years have marked a steady rise in the prevalence of cardiovascular ailments, diabetes, and obesity, among other chronic conditions, which have triggered a massive change in consumer perceptions towards health.
This in turn has led to a surge in demand for various functional foods…
Global Selenium Yeast Market Industry Assessment, Trends, Competitive Landscape, …
The selenium yeast market is anticipated to register substantial gains on account of rising inclination towards organic additives in animal nutrition, with an aim to improve livestock health and production. Consumers are steadily becoming aware of the downsides associated with using synthetic additives. As a result, they are preferring selenium yeast feed grades over other counterparts to provide balanced nutrition to their livestock.
According to Global Market Insights Inc estimates…
Power Distribution Component Market Share, Size, Trends by 2025 | Leading Key pl …
Global Power Distribution Component Market Report offers market overview, segmentation by types, application, countries, key manufactures, cost analysis, industrial chain, sourcing strategy, downstream buyers, marketing strategy analysis, distributors/traders, factors affecting market, forecast and other important information for key insight.
Request a sample of this research report @ https://www.gminsights.com/request-sample/detail/3091
Voltage rating have acted as a standard industry protocol toward the installation of power components reliant on regulatory preference, deployment areas, and the group…
More Releases for LPG
Aluminium LPG Cylinder Market
𝐔𝐒𝐀, 𝐍𝐞𝐰 𝐉𝐞𝐫𝐬𝐞𝐲-
The aluminium LPG cylinder market is experiencing significant growth due to various factors that enhance its adoption across residential, commercial, and industrial sectors. One of the main growth drivers is the increasing demand for liquefied petroleum gas (LPG) as an energy source due to its efficiency and cleanliness compared to traditional fuels like wood and coal. Aluminium cylinders are particularly preferred in the storage and transportation of…
LPG Price Trend: Comprehensive Market Insights
Liquefied Petroleum Gas (LPG), a versatile and efficient energy source, is widely used for residential, industrial, and transportation purposes. Understanding the LPG Price Trend is essential for businesses, suppliers, and consumers to optimise procurement strategies, manage energy costs, and anticipate market fluctuations. This article explores the factors influencing LPG prices, historical data, market dynamics, forecasts, regional insights, and procurement resource strategies.
Latest LPG Price Trends
The LPG market has experienced significant price…
Global LPG Tanker Market Expected to Reach US$ 289.72 Mn. by 2030: Rising Demand …
The LPG tanker market, valued at US$ 201.82 million in 2023, is anticipated to witness substantial growth, with total revenue projected to reach nearly US$ 289.72 million by 2030, growing at a CAGR of 5.3% from 2024 to 2030. This growth is driven by several factors, including the increasing demand for LPG as a clean and efficient fuel source, particularly in residential, commercial, and industrial applications. Additionally, the expanding use…
LPG Tanker Market May See a Big Move | Major Giants Dorian LPG, Pertamina, Navig …
The latest study released on the Global LPG Tanker Market by AMA Research evaluates market size, trend, and forecast to 2027. The LPG Tanker market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.
Key Players in…
France LPG Market Growth Driven by Low Upfront Cost of LPG Boilers
A number of factors such as the low upfront cost and less storage space required by LPG boilers and the massive government support toward new energy vehicles will help the French LPG market demonstrate a CAGR of 2.1% between 2020 and 2030. According to P&S Intelligence, the market was valued at $7,691.2 million in 2020, and it will generate $9,480.3 million revenue by 2030. Additionally, the rising public awareness regarding…
Global Bio LPG Market Poised to Offer Sustainable Solution for Soaring Demand fo …
The global Bio LPG demand is expected to rise during the forecast period as it is an ideal energy solution that helps in reducing the emissions of CO2 by 80%. Consumers are increasingly adopting it as it is derived from plant and vegetable residues and municipal waste. A recent report published by Fairfield Market Research predicts that the global Bio LPG market is expected to reach US$1,020.32 Mn by 2025…
