Butane Market Set to Reach USD 82 Billion by 2024 | Hexa Research

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Your Catalyst To a Lucrative Business Butane
Market Share, Market Size, Analysis, Growth,
Strategies, Regional Outlook, Trends and
Forecasts to 2024 Hexa Research
" Butane Market worth USD 82 billion by 2024. "
The global Butane Market stood at approximately
USD 60 billion in 2015. In volume terms, global
demand was nearly 138.22 million tons during the
same year. This market is anticipated to expand
at more than 2.7 CAG R during the forecast
period (2016 to 2024). An easily liquefiable
gas, butane is highly flammable, colorless gas,
and odorless. It is a byproduct that is obtained
during the refining process of crude oil. Crude
oil that is extracted from the reservoirs i s
transported to the refineries that derive
products, such as jet fuel, diesel, and even
gasoline. It is known as normal or n - butane
when the carbon atoms are lined in a straight
chain. However, when they are branched, the gas
is called isobutane. N-butane is blended with
gasoline to increase its volatility. Robust
demand for Liquid Petroleum Gas (LPG) may
favorably impact the industry. Highe r standards
of living and rising disposable incomes can
impel the market till 2024. Most of the butane
manufactured globally is used in LPG. When mixed
with propane in a certain ratio, butane is often
referred to as LPG. Browse Details of Report _at_
https//www.hexaresearch.com/research-report/butan
e-industry
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Your Catalyst To a Lucrative Business Governments
across Asia Pacific Africa encourage the use
of LPG. This is done in order to reduce carbon
footprints and also to control the emission of
CO2. LPG emits close to 33 lesser CO2 when
compared with coal. It is used primarily in
residential, commercial, and agricultural applic
ations. It also finds use in automotives. A
major problem facing the global butane market is
the issue of ground water contamination. This is
due to the leakage of methyl tert-butyl ether
(MTBE) that over a period of time affects ground
water. Rising health hazards because of
inhalation of butane has led to the application
of rigid regulations in the global market. The
global butane market is categorized into
applications and regions. Based on applications,
the market is divided into refineries,
petrochemicals, LPG, and others. Chemical
petrochemical, residential commercial,
auto-fuel, refinery, industrial, and others are
the sub-segments of LPG. With market shares
exceeding 66.6, LPG led the industry in
2015. Ongoing industry trends suggest that
residential or commercial applications may
capture more than 50 of the overall market by
2025. Isobutane can replace hazardous
chlorofluorocarbons (CFC) that are used
extensively in products, like propellants,
deodorants, and refrigerants. The
petrochemicals segment is anticipated to register
the highest growth rate during the forecast
period. Automobile fuel may exhibit substantial
growth because of strict emission norms and the
widespread adoption of eco-friendly
vehicles. On the basis of regions, the worldwide
butane market is segmented into North America,
Central South America (CSA), Europe, Asia
Pacific, and Middle East North Africa (MENA).
Asia Pacific was estimated at more than USD 22
billion in 2015. It can grow at a 4.2 CAGR from
2016 to 2024. Surging demand for fuel gas can
propel this region. Subsidies and governmental
regulations, pertaining to multiple LPG
connections will positively affect the growth of
the LPG industry. Ample supply of shale gas in
the U.S. can meet the demand for natural gas
liquids, thereby stimulating the global market.
To reduce groundwater contamination, the EPA
(Environmental Protection Agency) prohibits the
use of MTBE for blending gasoline. The MENA
butane industry contributed to more than 18 of t
otal volumes in 2014. Greater use of LPG as a
feedstock substitute for crude oil natural gas
in chemical industries and in refineries can
increase the demand for butane in the region.
Butane industries in Nigeria, United Arab
Emirates (UAE), Saudi Arabia, and Qatar may
expand significantly during the forecast
period. Prominent companies operating in the
global market are Chevron Corporation, Exxon
Mobil Corporation, British Petroleum (BP), and
ConocoPhillips Inc. These industry participants
give a lot of importance to the development of
bio-based alternatives for producing niche
products. They also lay emphasis on product
innovative as a means to gain a higher market
shares. Browse Related Category Market Reports _at_
https//www.hexaresearch.com/research-category/pe
trochemicals-market
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• Your Catalyst To a Lucrative Business
• Table of Content of Butane Market
• Methodology Scope
• Research Methodology
• Initial Data Exploration
• Statistical Modeling and Forecast
• Industry Insights and Validation
• Research Scope Assumptions
• List of Data Sources
• 2. Executive Summary
• 2.1 Industry Summary of Butane Market
• Industry Outlook
• Butane Market Segmentation
• Butane Market Size and Growth Prospects
• Butane Market Dynamics

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• Your Catalyst To a Lucrative Business
• Company Overview
• Revenue Analysis
• Product Benchmarking
• Strategic Initiatives
• Exxon Mobil Corporation
• Company Overview
• Revenue Analysis
• Product Benchmarking
• Strategic Initiatives
• British Petroleum (BP)
• Company Overview
• Revenue Analysis
• Product Benchmarking
• Strategic Initiatives
• ConocoPhillips Inc.
• Company Overview
• Revenue Analysis

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