Global Butanes Market was valued US$ 68.14 Bn in 2019 and is expected to reach US$ 130.12 Bn by 2027, at a CAGR of around 7.45 % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The growing demand for LPG from residential and commercial sectors where it is mostly used as a domestic fuel is the major factor driving the market for butanes. Butane used as petrochemical feedstock for producing ethylene and other derivatives is also driving the market for butanes because of growing ethylene capacity in the Middle East. On the other hand, the volatility in crude oil prices and the regulatory issues due to growing environmental concerns are the major factors hindering the market for butanes.
In terms of application, LPG is the largest application segment for the butane market. Growing consumption of LPG as fuel for heating and cooking purposes in commercial and residential applications has massively contributed to the growth of butane market. Refineries also utilize butane in different combinations to modify the octane rating.
Petrochemical is also a profitable application for butane market and is expected to be the fastest growing segment for the market. The refiner applications for butane embrace over 11% of the total market share.
The global butane market constitutes international and national market players which are majorly governing the oil & gas sector. Butane industry is moderately consolidated with companies rival in terms of refinery output, expansion, and distribution.
Geographically, Asia Pacific is the leading regional market for butane with China as the major contributing nation. Supportive government policies and subsidies in countries such as India have significantly contributed to the growth of LPG which in turn has resulted in augmented demand of butane. Furthermore, growth of end-use industries such as automobile and petrochemical downstream sector have led to increased consumption of butane in Asia Pacific.
North America is expected to be the second largest region for the butane market with the U.S. as a major contributing nation. The rapid development in the shale revolution in the country have positively impacted the butane market. North America is predicted to contribute to the sustainable supply of natural gas liquids in the longer term.
This research is especially designed to evaluation and analyze the demand and performance of butanes in a global scenario. The research provides comprehensive analysis of butanes manufacturers, sales, and trend analysis by segments and demand by geography. The report covers all the major segments of the global butanes market and provides detailed analysis, historical data and statistically refined forecast for the segments covered. It also describes the major potential and developing applications for butanes.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global butanes market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global butanes market.
For more information of visit:https://www.maximizemarketresearch.com/market-report/global-butanes-market/30916/
Scope of Global Butanes Market
Global Butanes Market, By Application
• Liquefied Petroleum Gas (LPG)
• Petrochemicals
• Refinery
• Other
Global Butanes Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Global Butanes Market
• British Petroleum Plc
• Chevron
• China National Petroleum Corporation (Cnpc)
• China Petroleum and Chemical Corporation (Sinopec)
• Conocophillips
• Exxon Mobil Corporation
• Royal Dutch Shell
• Total S.A.
• Air Liquide Group
• Linde Group
• Valero Energy Corporation
This Report Is Submitted By : Maximize Market Research Company
Customization of the report:
Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities.
About Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Contact info:
Name: Lumawant Godage
Organization Address: MAXIMIZE MARKET RESEARCH PVT. LTD.
Email: sales@maximizemarketresearch.com
Address : Pune, Maharashtra 411051, India.
Contact: +919607195908