Butane is generally used as a mixture of isomers in a variety of applications. There are two types of isomers n-butane and isobutane mixture of these two isomers. Butane is a colorless, flammable and easily liquefied gas. It is heavier than the air with a density of approximately 575 kg per cubic meters at 15 degree Celsius. Butane has a boiling point of approximately -1 degrees Celsius, while its flash point is approximately -40 degrees Celsius. Butanes are removed from gas processing plants that are found near crude oil or natural gas reserves. Butane can also be used as a byproduct of crude oil production and refining. Butanes are also produced as a by-product of crude oil refining in a refinery. The crude oil removed from the reservoir is sent to refineries to be processed into various end products such as gasoline, diesel, jet fuel, lubes, etc. Crude oil is processed in a fractionating tower, and various products are recovered from the tower at different temperature levels.
Butane Market size was valued at USD 61.7 billion in 2023 and is poised to grow from USD 64.41 billion in 2024 to USD 90.91 billion by 2032, growing at a CAGR of 4.4% during the forecast period (2025-2032).
Butane Key Market Trends:
Butane and isobutane are both commonly used as aerosols products, such as deodorants. A few years ago, Chlorofluorocarbons were used in a particular product. These chemicals have been found to deplete the ozone layer, and so strict environmental regulations have been put in place to limit their use. Butane has an advantage over other alternatives. It is expensive and easily liquified.
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Butanes are also produced as a by-product of crude oil refining in a refinery. The crude oil removed from the reservoir is sent to refineries to be processed into various end products such as gasoline, diesel, jet fuel, lubes, etc. Crude oil is processed in a fractionating tower, and various products are recovered from the tower at different temperature levels. These temperature levels are also known as crude cuts. The demand for butane is on the increase, as verification by its increasing use in the automotive and petrochemical industries. This trend is expected to continue even during the forecast period. Butane is mainly used as LPG in residential and commercial purposes for heating and cooking purposes.
Detailed Segmentation and Classification of the report (Market Size and Forecast – 2032, Y-o-Y growth rate, and CAGR):
The Butane Market can be segmented based on several factors, including product type, application, end-user, and distribution channel.
Global Butane Market is segmented by Source, Application and region.
Based on Source, the market is segmented into Natural Gas, and Refining.
Based on Application, the market is segmented into Liquid Petroleum Gases (LPG), Petrochemicals, Refineries and Others.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Butane Market – Regional Analysis:
Asia Pacific accounted for the largest share in the global butane market in 2022.Countries such as India, China, Bangladesh, Indonesia and others are contributing significantly to this regional market revenue. The economies of these countries are growing rapidly, and their demand for LPG is increasing. Other businesses that use chemicals, such as hoteliers and chemical manufacturers, may also find these products useful. The outbreak of the Covid-19 has dented the LPG demand in 2020. The demand for LPG dropped in Bangladesh by 40%in just one month, after the imposition of lockdown restrictions. China also reported a lower import of propane during the lockdown restrictions. It reported a 17% fall in propane imports in March 2020.
North America held the second largest market share in the butane market, closely followed by the Middle East and Africa and Europe. Europe largely depends on natural gas supply lines in the region. Russia dominates the consumption of butane in the region due to low prices and large deposits of fossil fuels in the country.
Top Market Players in Butane Market are:
Exxon Mobil Corporation (United States)
BP plc (United Kingdom)
Royal Dutch Shell plc (Netherlands)
TotalEnergies (France)
China National Petroleum Corporation (CNPC) (China)
Chevron Corporation (United States)
Phillips 66 Company (United States)
China Petroleum & Chemical Corporation (Sinopec) (China)
Bharat Petroleum Corporation Limited (India)
Linde plc (United Kingdom)
ConocoPhillips Company (United States)
Merck KGaA (Germany)
Proton Gases India Pvt. Ltd. (India)
Aspire Industries (India)
Heze Sirloong Chemical Co., Ltd. (China)
Do-Well Aerosols (South Korea)
JCK Global Spray Tech Private Limited (India)
Anchor Allied (United Arab Emirates)
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Recent developments:
In March 2024, Trading and Exploitation Company (Tradex), specializing in the marketing of petroleum products, initiated an international tender process to recruit a supplier for 66,000 commercial butane 12.5kg gas cylinders and 600 cylinders of 50 kg each, equipped with a valve and level indicator.
In November 2023, Spartan Delta Corp. announced the completion of a series of asset acquisitions in the West Shale Basin Duvernay for aggregate cash consideration of approximately $25 million and preliminary 2024 guidance.
Forward-Looking Insights
The Butane Market is set to experience sustained growth, fueled by technological advancements, broader global market access, and rising industry demand. With the industry addressing emerging challenges and capitalizing on new opportunities, it is expected to drive innovation and play a pivotal role in advancing global health and economic progress.
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