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.
To request a
sample copy or view summary of this report, click the link below:
http://www.grandviewresearch.com/industry-analysis/butane-market
http://www.grandviewresearch.com/industry-analysis/butane-market
Further key findings from the study 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
See More
Reports of This Category:
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.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
No comments:
Post a Comment