The Butane Gas Cartridges Market is forecast to reach USD 167.09 Billion by 2028, according to a new report by Reports and Data. Butane Gas Cartridges is highly flammable, colorless, and can be easily liquefied gas. It is a fossil fuel and is used in homes or farms, in industry, and transportation, among others. It is used as liquefied petroleum gas (LPG), lighters, refrigerant, and aerosols, among others. It is used to fuel the cutting torches and other equipment. As it can be easily compressed, gas canisters are an ideal choice for its storage.
The rising standards of living and increasing disposable incomes are also propelling the growth of the market. High volatility in crude oil prices and stringent regulations are the prime factors restraining the market growth. Rise in industrialization with capacity expansion of refineries in developing nations such as China and India are providing ample opportunities for the market.
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Top Key Players: Chevron Corporation, Devron Energy Corporation, Conocco Phillips Inc, Valero Energy Corporation, British Petroleum, China National Petroleum Corporation (CNPC), Energy Corporation of America, Exxon Mobil Corporation, Sinopec Group, and Royal Dutch Shell plc, among others.
A comprehensive report on the Global Butane Gas Cartridges Market has been published by Reports and Data that offers insightful data about market dynamics, drivers, restraints, current and emerging trends, market size, market share, and revenue growth of the market. The report provides a brief overview of the industry and gives an estimation of growth and revenue for the forecast period of 2021-2028. The global Butane Gas Cartridges market is expected to be valued at USD XX Billion in 2028 from its valuation of USD XX billion in 2020 and register a CAGR of XX% during the forecast period. The document offers reliable data in reference to key areas of investments and growth patterns of the Butane Gas Cartridges market to help clients, stakeholders, investors, and businesses capitalization on the lucrative opportunities and make strategic investment plans.
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Further key findings from the report suggest
- Butane Gas Cartridges can be extracted from the gas processing plants, which are located close to crude oil or natural gas reservoirs. It is a by-product of crude oil production and refining.
- An increase in demand for LPG in automotive, commercial, and residential sectors due to its ability to emit less amount of carbon dioxide is driving the market demand. LPG is used as an industrial fuel and in centralized heating solution, both for domestic and industrial premises.
- Paper and food industry also rely on LPG. It can also be used to produce electricity by running turbines. It has a less damaging impact on the atmosphere and is more energy-efficient.
- IsoButane Gas Cartridges is principally used in refineries as a gasoline – petrol – additive. It is processed to make alkylate through the process of alkylation. It is used to produce isooctane, a high octane gasoline constituent, which increases the octane rating and anti-knock characteristics of gasoline. This extensive implementation of isoButane Gas Cartridges in refineries and petrochemical plants is forecasted to drive the market growth.
- The government of Indonesia started Kerosene to LP Gas conversion Program to encourage the usage of LPG and limit the use of kerosene as a cooking fuel among the households in the country. The government distributed 3 kg refillable LPG cylinders along with a stove to the households under the scheme.
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Further, the report segments the Butane Gas Cartridges market on the basis of product types, applications, technology, end-use, and regions. It also offers insights into key factors influencing the revenue growth of each segment and sub-segment and offers details about market size, revenue share, and CAGR for each segment.
Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
- IsoButane Gas Cartridges
- N-Butane Gas Cartridges
Applications Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
- Liquefied petroleum gas (LPG)
- Petrochemicals
- Refineries
- Others
End Users Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
- Transportation
- Residential
- Agriculture
- Refrigerant
- Industrial
- Others
Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
- North America
- Europe
- Asia Pacific
- MEA
- Latin America
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