Butane Market Growth, Industry Trends To 2017 By Grand View Research, Inc
New Market Research Reports Title “Butane Market Analysis Size and Segment Forecasts to 2020” Has Been Added to GrandViewResearch.com Report Database.
Global Butane Market is anticipated to reach USD 203.26 billion by 2020, in response to a new study by Grand View Research, Inc. Increasing government support to advertise the use of LPG as a domestic fuel particularly in Asia Pacific and Africa is anticipated to remain a key driving factor for global butane market over the following six years. Growth of worldwide natural gas vehicle (NGV) industry is also expected to have a positive influence available on the market growth. Rapid petrochemical capacity expansion particularly in Middle East and Asia Pacific is anticipated to further support the market growth over the forecast period. Volatile raw material prices and ban on MTBE based gasoline blending across several states in chemex modular houston the U.S. on account of ground water contamination is predicted to remain key challenges for market participants.
LPG emerged as the leading application segment in chemex modular houston the worldwide butane market and accounted for 66.1% of total volume in 2013. Increasing LPG adoption on account of subsidies offered by governments particularly in India and China is expected to drive butane demand for LPG. Petrochemical is anticipated to witness highest growth rate over the forecast period. The segment is predicted to grow at an estimated CAGR of two.9% from 2014 to 2020. Emergence of Middle East as a major petrochemical manufacturing hub is anticipated to drive butane demand for petrochemical applications.
Browse full research report on Global Butane Market: http://www.grandviewresearch.com/industry-analysis/butane-market
Global butane demand was 209.39 million tons in 2013 and is anticipated to succeed in 250.36 million tons by 2020, growing at a CAGR of two.6% from 2014 to 2020.
Residential/commercial was the leading application segment for LPG and accounted for over 45% of total market volume in 2013. Auto fuel is anticipated to witness highest growth rate over the following several years on account of shift in consumer preference towards natural gas vehicles. This shift has been primarily driven in countries corresponding to Poland, Turkey, South Korea and Japan.
Asia Pacific dominated the global butane market and accounted for 29.9% of total volume in 2013. Asia Pacific can also be expected to witness highest growth over the forecast period. Butane demand in the region is predicted to grow at a CAGR of 3% from 2014 to 2020. Increasing LPG consumption for cooking ” Revenue, USD Billion, 2012 – 2020)
• Liquefied Petroleum Gas (LPG)
• Auto Fuel
Global Butane Regional Outlook (Volume, Million Tons; Revenue, USD Billion, 2012 – 2020)
• North America
• Asia Pacific
• Middle East • RoW
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
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