The global butane market size is expected to reach USD 81.62 billion by 2025, according to a new report by Grand View Research, Inc. Increasing monetary assistance from respective governments in the form of subsidies for LPG coupled with expanding population is expected to drive the market over the forecast period. Growing population and disposable income is projected to push the market growth over the coming years.

Rising industrialization coupled with capacity expansions of refineries in emerging economies of China and India is expected to fuel the butane industry demand. Growing concern regarding the impact of conventional fuel on the environment is projected to boost the LPG application market.

Increasing need for energy supply in automotive sectors is anticipated to drive the growth for butane industry. Wide range of applications of butane in petrochemicals, refrigerants, as a fuel for cigarette lighters, as propellants in aerosol sprays is expected to augment the market positively.

Growing demand for energy consumption on account of rapid urbanization is anticipated to augment butane market over the coming years. Companies such as Valero Energy Corporation, Energy Corporation of America, and Praxair adopted expansion strategies to enhance the production capacity.

Full Research Report On Global Butane Market By Grand View Research:

www.grandviewresearch.com/industry-analysis/butane-market

Further key findings from the report suggest:

• LPG segment dominated the butane application in 2015 accounting for over 66.6% of the global market
• Increased demand for LPG in residential, commercial, industrial, and refinery is expected to boost the LPG market
• Butane gas is used in LPG application areas including residential, industrial, autofuel, refinery, and petrochemicals among others
• Residential & commercial segment is expected to be inhigh demand for LPG application industry by 2025 accounting for over 50.2% of the overall market
• Asia Pacific region is anticipated to grow at a significant rate of 4.2% over the forecast period owning to growing demand for fuel gas
• U.S. EPA has filed litigation on the use of MTBE for gasoline blending owing to increased incidences of groundwater contamination
• Rising investment on LNG by the governments is leading to the production of butane gas, in addition to R&D is expected to propel the market over the coming years
• Companies such as Sinopec Group, Valero Energy Corporation, and Total S.A. offerservices for refining, industrial, and nuclear power sectors among othersis projected to propel growth of the market

Browse More Reports Of This Category By Grand View Research:

www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives

Grand View Research has segmented the butane market on the basis of application and region:

Global Application Outlook (Volume, Million Tons; Revenue, USD Billion, 2014 - 2025)

• LPG
  • Residential/Commercial
  • Chemical/Petrochemical
  • Industrial
  • Autofuel
  • Refinery
  • Others
• Petrochemicals
• Refineries
• Others

Global Regional Outlook (Volume, Million Tons; Revenue, USD Billion, 2014 - 2025)

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • RoE
• Asia Pacific
  • India
  • China
  • RoAPAC
• CSA
• MEA

Access Press Release Of This Research Report By Grand View Research:

www.grandviewresearch.com/press-release/global-butane-market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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