What is Global Butane Market?
The Global Butane Market is a vast and dynamic sector that encompasses the production, distribution, and consumption of butane, a hydrocarbon gas that is a key component in many industries. Butane is a colorless, odorless, flammable gas that is found in natural gas, petroleum, and coal formations. It is used in a variety of applications, from fuel for heating and cooking to a propellant in aerosol products. The global butane market is a significant part of the energy sector, contributing to the economies of many countries and regions around the world.
N-Butane, Isobutane in the Global Butane Market:
N-Butane and Isobutane are two types of butane that are integral to the Global Butane Market. N-Butane, also known as normal butane, is a natural gas liquid that is used in a variety of applications, including as a fuel, a refrigerant, and a propellant in aerosol products. Isobutane, on the other hand, is a branched-chain hydrocarbon that is primarily used in the production of isooctane, a high-octane gasoline component. Both N-Butane and Isobutane play crucial roles in the global energy sector, contributing to the overall growth and development of the Global Butane Market.
LPG and Other Fuel, Petrochemicals, Refineries in the Global Butane Market:
The Global Butane Market has a wide range of uses in various sectors, including LPG and Other Fuel, Petrochemicals, and Refineries. In the LPG and Other Fuel sector, butane is used as a fuel for heating and cooking, as well as a propellant in aerosol products. In the Petrochemicals sector, butane is used as a feedstock in the production of various chemicals, including ethylene and propylene. In the Refineries sector, butane is used in the refining process to produce gasoline and other petroleum products. These diverse applications of butane contribute to the robustness and dynamism of the Global Butane Market.
Global Butane Market Outlook:
The Global Butane Market's outlook is promising, with significant growth anticipated in the coming years. In 2022, the market was valued at US$ 85250 million, and it is expected to reach US$ 114090 million by 2029, representing a Compound Annual Growth Rate (CAGR) of 4.2% during the forecast period from 2023 to 2029. The Asia Pacific region holds the largest share of the market, accounting for about 50% of the total. North America follows, with a market share of about 19%. The top three companies in the market hold a combined market share of about 22%. This data indicates the competitive nature of the Global Butane Market and the significant opportunities for growth and expansion in the future.
| Report Metric | Details |
| Report Name | Butane Market |
| Accounted market size in 2022 | US$ 85250 million |
| Forecasted market size in 2029 | US$ 114090 million |
| CAGR | 4.2% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Saudi Aramco, Sinopec, ADNOC, CNPC, Exxon Mobil, KNPC, Phillips66, Bharat Petroleum, Pemex, Total, Qatar Petroleum, Equinor, BP, Gazprom, Chevron Phillips Chemical, ConocoPhillips Company, Shell |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
