The global Butane market is forecast to reach USD 167.09 Billion by 2028, according to a new report by Reports and Data. Butane is highly flammable, colorless, and can be easily liquefied gas. It is a fossil fuel and is used in homes or farms, in industry, and transportation, among others. It is used as liquefied petroleum gas (LPG), lighters, refrigerant, and aerosols, among others. It is used to fuel the cutting torches and other equipment. As it can be easily compressed, gas canisters are an ideal choice for its storage.
The rising standards of living and increasing disposable incomes are also propelling the growth of the market. High volatility in crude oil prices and stringent regulations are the prime factors restraining the market growth. Rise in industrialization with capacity expansion of refineries in developing nations such as China and India are providing ample opportunities for the market.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/2850
Top Key Players: Chevron Corporation, Valero Energy Corporation, British Petroleum, China National Petroleum Corporation (CNPC), Devron Energy Corporation, Conocco Phillips Inc, Energy Corporation of America, Exxon Mobil Corporation, Sinopec Group, and Royal Dutch Shell plc, among others.
A comprehensive report on the Global Butane Market has been published by Reports and Data that offers insightful data about market dynamics, drivers, restraints, current and emerging trends, market size, market share, and revenue growth of the market. The report provides a brief overview of the industry and gives an estimation of growth and revenue for the forecast period of 2021-2028. The global Butane market is expected to be valued at USD XX Billion in 2028 from its valuation of USD XX billion in 2020 and register a CAGR of XX% during the forecast period. The document offers reliable data in reference to key areas of investments and growth patterns of the Butane market to help clients, stakeholders, investors, and businesses capitalization on the lucrative opportunities and make strategic investment plans.
Asia Pacific region led the market share of the Butane market. It is also dominating the market for automotive. Automotive manufacturers are investing heavily in developing various automobiles that run on alternative fuels, such as CNG, and Iso-butane, among others. Technology for alternative fuels are being developed for sale at a quick rate. The growth in transportation activities and increasing need for clean fuel sources in countries such as Japan, and China, is increasing the usage of the product. China is the global leader in producing automotive.
A regional analysis of the market across key geographical areas is offered in the report with a thorough assessment of market size, market share, revenue growth, import/export, production and consumption patterns, consumer demand and supply, global supply chain, macro- and micro-economic growth factors, government regulations and policies, and presence of key market players/manufacturers in North America, Europe, Latin America, Asia Pacific, and Middle East Africa.
Further key findings from the report suggest
- Butane can be extracted from the gas processing plants, which are located close to crude oil or natural gas reservoirs. It is a by-product of crude oil production and refining.
- An increase in demand for LPG in automotive, commercial, and residential sectors due to its ability to emit less amount of carbon dioxide is driving the market demand. LPG is used as an industrial fuel and in centralized heating solution, both for domestic and industrial premises.
- Paper and food industry also rely on LPG. It can also be used to produce electricity by running turbines. It has a less damaging impact on the atmosphere and is more energy-efficient.
- Isobutane is principally used in refineries as a gasoline – petrol – additive. It is processed to make alkylate through the process of alkylation. It is used to produce isooctane, a high octane gasoline constituent, which increases the octane rating and anti-knock characteristics of gasoline. This extensive implementation of isobutane in refineries and petrochemical plants is forecasted to drive the market growth.
- The government of Indonesia started Kerosene to LP Gas conversion Program to encourage the usage of LPG and limit the use of kerosene as a cooking fuel among the households in the country. The government distributed 3 kg refillable LPG cylinders along with a stove to the households under the scheme.
Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/2850
Further, the report segments the Butane market on the basis of product types, applications, technology, end-use, and regions. It also offers insights into key factors influencing the revenue growth of each segment and sub-segment and offers details about market size, revenue share, and CAGR for each segment.
Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
Applications Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
- Liquefied petroleum gas (LPG)
Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
- North America
- Asia Pacific
- Latin America
Download Summary Report: https://www.reportsanddata.com/download-summary-form/2850
End Users Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
Thank you for reading our report. To know more about the customization or any query about the report contents, please connect with us and our team will ensure the report is tailored to meet your requirements.
Explore Reports and Data's Prime Analysis of the global Materials and Chemicals Industry:
Potassium Citrate Market Forecast @ https://www.reportsanddata.com/report-detail/potassium-citrate-market
Bacterial Cellulose Market Trends @ https://www.reportsanddata.com/report-detail/bacterial-cellulose-market
MDI Prepolymers Market Analysis @ https://www.reportsanddata.com/report-detail/mdi-prepolymers-market
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: [email protected]
Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs
Check our upcoming research reports @ https://www.reportsanddata.com/upcoming-reports