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.
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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 –
Petrochemicals, Liquefied Petroleum Gas (LPG), Chemical/ Petrochemical, Residential/ Commercial, Auto fuel, Industrial, Refinery, Other.
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