Butane Market - Changing Supply And Demand Scenarios By 2025

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.

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.

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.

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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

Top Players of Butane Market:

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.

Market Segmentation of Butane Market:

The Global Butane Market segmented on the basis of Application and Region.

By Application:

    LPG
        Residential/Commercial
        Chemical/Petrochemical
        Industrial
        Autofuel
        Refinery
    Petrochemicals
    Refineries

By Region:

    North America
    Europe
    Asia Pacific
    CSA
    MEA

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