Growth Factors of Butane Market
The global butane market size was valued at USD 59.85 billion in 2019 and is projected tgrow tUSD 74.53 billion by 2027, exhibiting a CAGR of 4.4% during the forecast period of 2024-2032.
The COVID-19 pandemic extensively disrupted the butane marketplace, mainly due treduced calls from key stop-consumer industries, which include car, construction, and production, because of lockdowns and delivery chain interruptions. However, the growing reliance on LPG for residential heating and cooking at some stage in the pandemic supplied little stability, partially offsetting the decline in industrial utilization and impeding the butane market growth.
The butane market is driven by its versatile packages across industries, such as its use as a feedstock in petrochemical manufacturing and as a factor in liquefied petroleum gasoline (LPG) for residential and industrial heating—the rising call for electricity-green fuels, coupled with increasing industrialization and urbanization, especially in developing places.
The butane marketplace is experiencing an increase driven by growing demand for LPG (Liquefied Petroleum Gas) in diverse sectors, including residential cooking, business applications, and car gas, leading tthe expansion of butane market share globally. Growing urbanization and growing disposable incomes in developing economies are primary participants in this growth. Furthermore, the point of interest in cleaner energy sources and the sluggish phasing out of conventional fuels is alsdriving demand for butane as an extraordinarily cleaner alternative.
Comprehensive Analysis of Butane Market
The butane market is segmented with the aid of application intresidential & industrial, industrial, engine fuel, refinery, chemical feedstock, and others. The residential & business segment holds the most critical market percentage, driven by growing LPG demand for cooking and heating, mainly in developing countries missing gas pipeline networks. The chemical feedstock segment follows, with butane utilized in producing chemical substances like ethylene and maleic anhydride. Engine fuel applications are predicted tdecline because of the growing adoption of herbal gasoline in cars, whilst business packages consist of gasoline for cigarette lighters and heating. Other uses involve aerosols, greenhouse heating, and miscellaneous purposes.
The Asia Pacific region led the butane market by benefitting a size of USD 29.61 billion in 2019 due tthe speedy expansion of economies and developing populations; the place is experiencing tremendous development.
The leading players in the butane market significantly shape its growth trajectory and establish industry benchmarks. These key players, including Exxon Mobil Corporation (Irving, United States), British Petroleum Plc (London, United Kingdom), Total S.A. (Paris, France), Royal Dutch Shell (The Hague, Netherlands), Air Liquide (Paris, France), China Petroleum & Chemical Corporation (Sinopec) (Beijing, China), China National Petroleum Corporation (CNPC) (Beijing, China), ConocoPhillips (Houston, United States), Indian Oil Corporation Ltd. (New Delhi, India), and Bharat Petroleum Corporation Limited (Mumbai, India), contribute ta competitive landscape, fostering innovation and driving market advancement.
In November 2019, Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary of Oil and Natural Gas Corporation (ONGC), India, revealed plans tmake investments ₹31,073 crores in upgrading its refinery capability from sixteen Million Tons Per Annum (MTPA) t18 MTPA. This expansion aims tboost the production capacities of chemical substances, including ethylene, propylene, and butane.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2016-2027
Base Year 2019
Forecast Period 2020-2027
Historical Period 2016-2018
Unit Value (USD Billion), Volume (KilTons)
Segmentation By Application, By Geography
By Application
Residential & Commercial
Industrial
Engine Fuel
Refinery
Chemical Feedstock
Others
By Geography
North America
By Application
By Country
The U.S.
Canada
Europe
By Application
By Country
Germany
UK
France
Italy
Russia
Poland
Rest of Europe
Asia Pacific
By Application
By Country
China
India
Japan
Rest of Asia Pacific
Latin America
By Application
By Country
Brazil
Mexico
Rest of Latin America
The Middle East & Africa
By Application
By Sub-Region
Middle East
Africa
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Key Trends
- 4. Key Insights
- 4.1. Key Insights – For Major Countries
- 4.2. Key Developments
- 4.3. Regulatory Standards
- 4.4. PEST Analysis
- 5. COVID-19 Impact Analysis
- 5.1. Supply Chain Challenges
- 5.2. Steps Taken by Government/Companies to combat COVID-19
- 5.3. Potential Opportunities due to COVID-19 Outbreak
- 6. Global Butane Market Analysis, Insights and Forecast, 2016-2027, By Application
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast
- 6.2.1. Residential & Commercial
- 6.2.2. Industrial
- 6.2.3. Engine Fuel
- 6.2.4. Refinery
- 6.2.5. Chemical Feedstock
- 6.2.6. Other
- 7. Global Butane Market Analysis, Insights and Forecast, 2016-2027, By Region
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast
- 7.2.1. North America
- 7.2.2. Europe
- 7.2.3. Asia Pacific
- 7.2.4. Latin America
- 7.2.5. Middle East & Africa
- 8. North America Butane Market Analysis, Insights and Forecast, 2016-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast
- 8.2.1. By Application (Volume & Value)
- 8.2.1.1. Residential & Commercial
- 8.2.1.2. Industrial
- 8.2.1.3. Engine Fuel
- 8.2.1.4. Refinery
- 8.2.1.5. Chemical Feedstock
- 8.2.1.6. Other
- 8.2.2. By Country (Volume & Value)
- 8.2.2.1. U.S
- 8.2.2.2. Canada
- 9. Europe Butane Market Analysis, Insights and Forecast, 2016-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast
- 9.2.1. By Application (Volume & Value)
- 9.2.1.1. Residential & Commercial
- 9.2.1.2. Industrial
- 9.2.1.3. Engine Fuel
- 9.2.1.4. Refinery
- 9.2.1.5. Chemical Feedstock
- 9.2.1.6. Other
- 9.2.2. By Country (Volume & Value)
- 9.2.2.1. Germany
- 9.2.2.2. UK
- 9.2.2.3. France
- 9.2.2.4. Italy
- 9.2.2.5. Russia
- 9.2.2.6. Poland
- 9.2.2.7. Rest of Europe
- 10. Asia Pacific Butane Market Analysis, Insights and Forecast, 2016-2027
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast
- 10.2.1. By Application (Volume & Value)
- 10.2.1.1. Residential & Commercial
- 10.2.1.2. Industrial
- 10.2.1.3. Engine Fuel
- 10.2.1.4. Refinery
- 10.2.1.5. Chemical Feedstock
- 10.2.1.6. Other
- 10.2.2. By Country (Volume & Value)
- 10.2.2.1. China
- 10.2.2.2. India
- 10.2.2.3. Japan
- 10.2.2.4. South East Asia
- 10.2.2.5. Rest of Asia Pacific
- 11. Latin America Butane Market Analysis, Insights and Forecast, 2016-2027
- 11.1. Key Findings / Summary
- 11.2. Market Analysis, Insights and Forecast
- 11.2.1. By Application (Volume & Value)
- 11.2.1.1. Residential & Commercial
- 11.2.1.2. Industrial
- 11.2.1.3. Engine Fuel
- 11.2.1.4. Refinery
- 11.2.1.5. Chemical Feedstock
- 11.2.1.6. Other
- 11.2.2. By Country (Volume & Value)
- 11.2.2.1. Brazil
- 11.2.2.2. Mexico
- 11.2.2.3. Rest of Latin America
- 12. Middle East & Africa Butane Market Analysis, Insights and Forecast, 2016-2027
- 12.1. Key Findings / Summary
- 12.2. Market Analysis, Insights and Forecast
- 12.2.1. By Application (Volume & Value)
- 12.2.1.1. Residential & Commercial
- 12.2.1.2. Industrial
- 12.2.1.3. Engine Fuel
- 12.2.1.4. Refinery
- 12.2.1.5. Chemical Feedstock
- 12.2.1.6. Other
- 12.2.2. By Sub-Region (Volume & Value)
- 12.2.2.1. Middle East
- 12.2.2.2. Africa
- 13. Competitive Landscape
- 13.1. Company Market Share Analysis, 2019
- 13.2. Company Profiles
- 13.2.1. Exxon Mobil Corporation
- 13.2.1.1. Overview
- 13.2.1.2. Product Portfolio
- 13.2.1.3. Recent Developments
- 13.2.1.4. Strategies
- 13.2.1.5. Financials (Based on availability)
- 13.2.2. British Petroleum Plc
- 13.2.2.1. Overview
- 13.2.2.2. Product Portfolio
- 13.2.2.3. Recent Developments
- 13.2.2.4. Strategies
- 13.2.2.5. Financials (Based on availability)
- 13.2.3. Total S.A.
- 13.2.3.1. Overview
- 13.2.3.2. Product Portfolio
- 13.2.3.3. Recent Developments
- 13.2.3.4. Strategies
- 13.2.3.5. Financials (Based on availability)
- 13.2.4. Royal Dutch Shell
- 13.2.4.1. Overview
- 13.2.4.2. Product Portfolio
- 13.2.4.3. Recent Developments
- 13.2.4.4. Strategies
- 13.2.4.5. Financials (Based on availability)
- 13.2.5. Air Liquide
- 13.2.5.1. Overview
- 13.2.5.2. Product Portfolio
- 13.2.5.3. Recent Developments
- 13.2.5.4. Strategies
- 13.2.5.5. Financials (Based on availability)
- 13.2.6. China Petroleum & Chemical Corporation (Sinopec)
- 13.2.6.1. Overview
- 13.2.6.2. Product Portfolio
- 13.2.6.3. Recent Developments
- 13.2.6.4. Strategies
- 13.2.6.5. Financials (Based on availability)
- 13.2.7. China National Petroleum Corporation (CNPC)
- 13.2.7.1. Overview
- 13.2.7.2. Product Portfolio
- 13.2.7.3. Recent Developments
- 13.2.7.4. Strategies
- 13.2.7.5. Financials (Based on availability)
- 13.2.8. Conocophillips
- 13.2.8.1. Overview
- 13.2.8.2. Product Portfolio
- 13.2.8.3. Recent Developments
- 13.2.8.4. Strategies
- 13.2.8.5. Financials (Based on availability)
- 13.2.9. Indian Oil Corporation Ltd.
- 13.2.9.1. Overview
- 13.2.9.2. Product Portfolio
- 13.2.9.3. Recent Developments
- 13.2.9.4. Strategies
- 13.2.9.5. Financials (Based on availability)
- 13.2.10. Bharat Petroleum Corporation Limited
- 13.2.10.1. Overview
- 13.2.10.2. Product Portfolio
- 13.2.10.3. Recent Developments
- 13.2.10.4. Strategies
- 13.2.10.5. Financials (Based on availability)
- 14. Strategic Recommendation "
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