Butane Market – Growth, Trends, and Forecast (2019 – 2024)

The Butane Market is Segmented by End-user Industry (Transportation, Residential, Agriculture, Refrigerant, Industrial, and Other End-user Industries), Application (Liquid Petroleum Gas (LPG), Refineries, Petrochemicals, and Other Applications), and Geography.

Market Snapshot

Butane Market - Summary
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The market for butane is expected to register a CAGR of over 4%, during the forecast period of 2019-2024. One of the major factors driving the market studied is the rising demand from the automobile and petrochemical industries. Increasing R&D in the field of renewable sources is expected to affect the growth of the market studied.

  • The increasing use of butane in power generation is likely to act as an opportunity in the future.
  • Asia-Pacific dominated the world market, with the largest consumption generated from China and India.

Scope of the Report

The scope of the butane market report includes:

End-user Industry
Transportation
Residential
Agriculture
Refrigerant
Industrial
Other End-user Industries
Application
Liquid Petroleum Gas (LPG)
Refineries
Petrochemicals
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

LPG is One of the Fastest Growing Segments

  • Butane is a highly flammable, colorless, and easily liquefied gas. Butane is a fossil fuel and is used in homes, on farms, in industry, transportation, etc.
  • Butane is used as LPG, refrigerant, lighters, and aerosols. It is also used to fuel the cutting torches and other equipment. Due to its ability to efficiently compress, gas canisters are an excellent choice for storing butane.
  • The application of butane in LPG is expected to increase the market of butane during the forecast period.
  • LPG burns better than diesel or petrol. Thus, it is a highly preferred choice as fuel for vehicles. It is also used as a chemical feedstock, domestic fuel, industrial fuel (in solution heating processes), and in agriculture (in drying processes).
  • LPG is also used in centralized heating solutions, both for domestic, as well as industrial premises. Some other industries that rely mostly on LPG are food processing and paper industries. It is also used to produce electrical energy by running turbines.
  • It has a lesser damaging impact on the atmosphere and environment, and is more energy efficient.
  • The paper and food processing industries are the top-most industries that heavily rely on LPG. It also has a major role in the plastic industry and is used in making explosives.
  • Owing to the enormous scope of butane in numerous applications, the butane market is expected to grow during the forecast period.
Butane Market - Application

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Asia-Pacific Region to Dominate the Market

  • Asia-Pacific dominated the overall market share in 2018. It is the dominant region in the automobile industry. Automakers have invested hugely in developing diverse automobiles that run on alternative fuels. Some of them are gasoline (Iso-butane), CNG, etc.
  • These advanced technology vehicles are being introduced for sale at a rapid rate. Different technologies are being introduced, and the automakers are developing a range of automobiles that run on different fuels.
  • Due to the growing transportation activities and increasing need for clean fuel sources in countries, such as China and Japan, the usage of butane is increasing in the region.
  • China is the global leader in automotive production. The total number of vehicles produced in China, in 2018, was 27,809,196 units. The total number of vehicles produced in Japan was 9,728,528 units, in the same year.
  • Owing to the abovementioned factors, the consumption of butane as a fuel is expected to rapidly increase in the Asia-Pacific region, during the forecast period. 
butane 6

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Competitive Landscape

The butane market is highly fragmented in nature. The major companies include ExxonMobil, BP, Royal Dutch Shell, Merck, etc.

Major Players

  1. Merck KGaA
  2. Exxon Mobil Corporation
  3. Royal Dutch Shell
  4. Chevron Corporation
  5. BP

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increase in Demand for Butane in Automobile Industry

      2. 4.1.2 Rising Demand in Petrochemical Industry

      3. 4.1.3 Increasing Demand from Metal Working and Construction Industry

    2. 4.2 Restraints

      1. 4.2.1 Increasing R&D in the Field of Renewable Sources

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 End-user Industry

      1. 5.1.1 Transportation

      2. 5.1.2 Residential

      3. 5.1.3 Agriculture

      4. 5.1.4 Refrigerant

      5. 5.1.5 Industrial

      6. 5.1.6 Other End-user Industries

    2. 5.2 Application

      1. 5.2.1 Liquid Petroleum Gas (LPG)

      2. 5.2.2 Refineries

      3. 5.2.3 Petrochemicals

      4. 5.2.4 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BP

      2. 6.4.2 Chevron Corporation

      3. 6.4.3 China Petroleum & Chemical Corporation

      4. 6.4.4 ConocoPhillips

      5. 6.4.5 DowDuPont

      6. 6.4.6 Exxon Mobil Corporation

      7. 6.4.7 Linde

      8. 6.4.8 Merck KGaA

      9. 6.4.9 Royal Dutch Shell

      10. 6.4.10 Sika AG

      11. 6.4.11 Sinopec

      12. 6.4.12 Total

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Usage of Butane in Power Generation

    2. 7.2 Alternative to Conventional Fuels in Marine Industry

**Subject to Availability

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