Albany, New York (PRWEB) January 15, 2013
In terms of revenues, the market was estimated to be worth USD 167.04 billion in 2011 and is expected to reach a market worth USD 282.59 billion by 2018, growing at a CAGR of 8.9% from 2013 to 2018.
The growing demand for LPG from residential and commercial sectors where it is mainly used as a domestic fuel is the major factor driving the market for butanes. Butane use as petrochemical feedstock for producing ethylene and other derivatives is also driving the market demand owing to growing ethylene capacity in the Middle East. However, volatility in crude oil prices and the regulatory issues owing to growing environmental concerns are the major factors inhibiting the market for butanes.
The growing demand for LPG in emerging economies of China, India and other countries in the Asia Pacific region provides immense opportunities for butane producers to set up SBUs in Asia Pacific in order to cater to the growing demand in the region.
LPG represents the biggest application of butanes and accounted for 66.1% of the global butanes produced in 2011. LPG is also the fastest growing application for butanes, at a CAGR of 2.58% from 2013 to 2018.
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Butanes are also used as a feedstock for producing various petrochemicals and as a blending agent in refineries. LPG is majorly used as a cooking and heating fuel in residential and commercial sectors. The segment accounted for just over 49% of the global LPG demand in 2011. LPG as an auto gas represents the fastest growing segment at a CAGR of 2.92% from 2013 to 2018.
Asia Pacific is the leading market for butanes which accounted for 29.6% of the global demand for butanes in 2011. Asia Pacific is followed by Middle East and North Africa (MENA), North America and Europe. Asia Pacific and Middle East represents the two fastest growing markets for butanes.
Some of the leading participants operating in the global butanes market include Exxon Mobil (U.S.), Royal Dutch Shell (The Netherlands), Sinopec (China), Chevron (U.S.), Conoco Phillips (U.S.), British Petroleum (U.K.) and so on.
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This research was especially carried out to analyze the performance of butanes at a global level. This research report provides in-depth analysis of butane producers and demand by application and geography. This research report covers all the major segments of the butanes market, historical data and statistically refined forecast for the segments covered. The report also covers all the major applications market for butanes. The study presents a comprehensive assessment of the stakeholder strategies, winning imperatives for them by segmenting the butanes market as below:
Butanes Market, by Application:
- Liquefied Petroleum Gas (LPG)
Further the reports segments LPG market for butanes as:
- LPG (Butanes) Market, by Application:
- Auto fuel
The report provides a cross-sectional analysis of all the above segments with respect to the following geographical markets:
- North America
- Asia Pacific
- Rest of the World (RoW)