“Butane Market Size report 2024 — Market Research Community
Butane Market size was valued at USD 65.11 Bn in 2023, registering a CAGR of 4.3% during the forecast period (2024–2030), and the market is projected to be worth USD 95.11 Bn by 2030.
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What does the Butane report offer?
- A comprehensive study of the Butane Market, including complete evaluation of the parent market.
- A complete analysis of the Butane market providing an understanding of the market size and its commercial landscape.
- The Butane market evaluation by upstream and downstream raw materials, present market dynamics, and subsequent consumer analysis.
- Analysis providing the driving and restraining factors of the Butane market and its impact on the global industry.
- A comprehensive study providing the driving and restraining factors of the Butane Market and its impact on the global industry.
- A complete understanding about Butane industry plans are now increasingly being adopted by leading private businesses.
- Value chain analysis of the market, providing clear understanding of the key intermediaries involved, and their individual roles at every phase of the value chain.
- Porter’s five force analysis of the market, highlighting the efficiency of purchasers and sellers to develop efficient growth strategies.
- Competitive landscape analysis, highlighting the leading competitors in the market so as to understand the strategies adopted by them.
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Key Players:
Saudi Arabian Oil Co. (Saudi Arabia), Exxon Mobil Corporation (U.S.), CNPC (China), BP p.l.c (U.K.), Shell plc (U.K.), PDVSA — Petróleos de Venezuela, SA. (Venezuela), Gazprom (Russia), Chevron Corporation. (U.S.), Kuwait Petroleum Corporation (KPC) (Kuwait), Petrobras (Brazil)
With the help of segmentations mentioned in the report, buyers will be able to track on their potential customers and deliver quality services. Also, the challenges and threats factors will help the strategic planners to modify plans accordingly to achieve improved targets. This will not only benefit the customers or end users, but also to the overall industry.
The report initially starts with insights on the driving factors, restraining aspects, and the opportunities for the players to plan out their strategies and reach customers across the globe. Researchers have carefully jotted down the points that will guide the buyers to take essential decisions for better profit over the forecast period. In addition, accurate statistics will enable them to take every step systematically without compromises on production factor.
Market Segment Analysis:
By Source
Based on the source type the market is segmented into natural gas and refined butane. Butane is derived from natural gas which is extremely abundant across the globe. Naturally formed butane has its largest deposits in Canada. This is found in mud and the bottom of lakes. This gas is proportionately less expensive to produce and mine. Typically, it is a fossil fuel formed over the duration of some million years beneath the earth from the remains of animals, plants, and microorganisms. The natural gas form butane is utilized in lighters, torches, camping portable stoves, etc. Furthermore, refined butane is obtained from the process of crude oil distillation. Butane is the byproduct of crude oil.
By Type
Based on the type segment butane has two types namely n-Butane and Isobutane. Isobutane is anticipated to replace the hazardous chlorofluorocarbons (CFC) which are conventional and earlier utilized as deodorants, propellants, and refrigerants. The fuel gas-utilizing refineries will improve the properties to fuel the growth from 2021 to 2030. Furthermore, the petrochemical sector is anticipated to be the swiftly growing market over the period of forecast. Furthermore, the N-Butane segment holds a huge share of the market of butane in 2022. N-Butane is connected in a straight chain and is molded with gasoline to expand its volatility. It is a by-product of the process of crude oil refining.  Whereas isobutane is vitally utilized as an alkylating agent to build various compounds with high octane numbers.      Â
By Application
The application segment is incorporated with industrial, residential/commercial, engine fuel, chemical feedstock, and refinery. The residential and commercial segment is holding the largest share in the recent market trend. Increasing consumption of LPG for business and household purposes propels the market demand. Furthermore, the increase in the population has also raised the dependency on LPG for cooking in emerging nations as these nations cannot avail of gas pipelines network. Additionally, the chemical feedstock segment is the second-largest holder of the butane market. These are utilized to produce many chemicals like maleic anhydride, ethylene, and others. Typically, the engine fuel application is anticipated to gradually decline its market as there is an increase in the adoption of natural gas in the automobile.        Â
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In addition, the infographics included will help the market players to study customer preferences and thereby decide on production. Accurate statistics with respect to market share, size and growth satisfy the growing needs of consumers and end users, worldwide. Nonetheless, report also describes recently adopted growth strategies by major companies for the competitors to launch more advanced solutions and enjoy better profit in the forthcoming years.
Regional Analysis For Butane Market:
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
The Research is Answerable to the following Key Questions:
- Where can business owners locate more potential customers during the forecast period, 2024–2030?
- How are the major vendors operating in the Butane market planning to reach a potential audience in the emerging economies? Why are sales soaring in certain parts, but dismal in other regions of the world?
- How much are the customers willing to pay for the products and services?
- How much is the dimension of the Butane market catered by the major vendors?
- How often will the customers buy a product or service during the forecast period, 2024–2030?
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