Global Butanes Market to Reach Valuation of ~US$ 156 BN By 2027: Transparency Market Research

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Butanes Market

• Global Industry Analysis, Size, Share, Growth,
  Trends and Forecast, 2027

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Butanes Market Key Highlights

• According to Butanes Market - Global Industry
  Size, Market Share, Trends, Analysis, And
  Forecasts 2019 - 2027, a new report published by
  Transparency Market Research (TMR), the
  global butane market is estimated to reach US
  155.7 Billion by the end of 2027, growing
  from US 84.0 Billion back in 2018. 
• The report states that the butanes market will
  expand at a CAGR of 7.1 in terms of value
  from 2019 to 2027.

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Increasing demand for Liquefied Petroleum Gas
(LPG) to Drive Butanes Market Demand

• Butanes are primarily used in liquefied petroleum
  gas (LPG). The demand for butane is directly
  proportional to the rise in demand for LPG, since
  two-thirds of the butane produced globally is
  used in LPG.
• Presently there are many factors driving the
  global market for butanes. According to the
  report, the surging demand for LPG as a domestic
  fuel in commercial and residential sectors is the
  major factor attributed to the growth of the
  global butanes market.
• The market demand for butane is also fueled by
  the growing ethylene capacity in the Middle East,
  since butane is also used as petrochemical
  feedstock required for producing ethylene and
  other derivatives. 
• The rising demand for LPG witnessed by Asia
  Pacific countries such as China, India, and
  others provide great opportunities for butane
  producers. 

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Need for Efficient Waste Disposal to Aid Growth

• According to the report published by TMR, Asia
  Pacific dominates the butanes market, accounting
  for almost 42 of the global demand in 2018. 
• The region is closely followed by North America,
  Middle East North Africa, and Europe region.
  Moreover, Asia Pacific and the Middle East
  North Africa region are anticipated to grow at
  significant pace during the forecast period.

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Competitive Landscape Global Butanes Market

• Exxon Mobil Corporation
• Royal Dutch Shell
• China Petroleum Chemical Corporation (Sinopec)
• British Petroleum Plc, Chevron
• Total S.A., Conocophillips
• China National Petroleum Corporation (CNPC)
• Bharat Petroleum Corporation Limited
• Indian Oil Corporation Ltd.

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