The
Global Butane Market was worth USD 60.04 billion in the year of 2016 and
is projected to touch nearly USD 93.30 billion by 2025, while registering
itself at a compound annual growth rate (CAGR) of 5.02% during the forecast
period.
The
LPG section has major share in 2015 and its requirement was 92.12 million tons.
Growing applications for LPG in commercial and residential sectors for heating
and cooking purposes is anticipated to promote the market growth during the
forecast period.
Butane as well as its isomers is employed for gasoline mixing in plants to oxygenate
and to amend its octane rating. Iso-butane is likely to substitute the
conventional hazardous chlorofluorocarbons (CFC) which were earlier used as
deodorants, propellants, and refrigerants.
The fuel gas use in fuel refineries amends the
combustible characteristics of the fuel and is hence projected to drive the
development from 2016 to 2025.
Asia
Pacific conquered the regional sector due to the rise in the gas requirement in
chemical processing units and refineries in China. Asia Pacific region was
estimated around USD 22.17 billion in 2015. Growth of numerous end-use
industries like infrastructure and automotive in Asia Pacific and Latin America
is predicted to drive the market.
The
butane market is segmented as follows -
By
Application
Petrochemicals, Liquefied
Petroleum Gas (LPG), Chemical/ Petrochemical, Residential/ Commercial, Auto
fuel, Industrial, Refinery, Other.
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