Report Code: A10574 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Butane Market
Request Now !Butane is an aliphatic hydrocarbon, which falls under the category of organic compounds. Butane consists of 4 carbon atoms and 10 hydrogen atoms, and is found in 2 isomeric forms, which include normal butane (n-butane) and iso-butane. It is a colorless gas, which is highly flammable and can easily be liquefied. It has a boiling point of −1°C and a flash point of about −40°C. Butane is obtained as a by-product during refining crude oil. The refining process of crude oil takes place in a fractionating tower where the different byproducts are recovered at different temperature levels.Â
COVID-19 scenario analysis
The outbreak of the COVID-19 pandemic has severely affected the global butane market.
The major fraction of the total amount of butane, which is produced globally is utilized in the manufacture of liquid petroleum gas (LPG). LPG is used all over the world in both residential and commercial places majorly for cooking and heating purposes. Furthermore, butane is used in the production of ethylene in the petrochemical industry and is also the precursor for the manufacture of butadiene. Butadiene is the key raw material in the production of synthetic rubber, and the growth of the rubber industry has escalated the demand for butane significantly. Moreover, butadiene is utilized in the refineries as a blending agent in fuels such as gasoline and compressed natural gas (CNG) and also in other utility products such as cigarette lighters and in propellant aerosol sprays such as deodorants. The increasing usage of butane torch in glass manufacturing, plumbing, and in the construction industry has played a significant role in the growth of the butane market across the globe. However, the fluctuating prices of the crude oil might act as a restraining factor for the market. Conversely, rapid technological developments by the manufacturers and increase in usage of LPG and CNG are expected to boost the growth of the butane market.
In terms of market share, Asia-Pacific region is leading the global butane market, owing high demand for LPG and CNG in the region. Factors such as high population density and increase in number of vehicles have led to the increase in the demand for fuel in the region. The market in the Middle East region is expected to grow at a significant pace due to the presence of high number of refineries in the region.
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Questions answered in the butane market research report:
Butane Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
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Key Market Players | Aditya Air Product Pvt. Ltd., Sinopec Group., Valero Energy Corporation, ConocoPhillips Co., ExxonMobil Corp., Royal Dutch Shell, British Petroleum, Proton Gases India Pvt. ltd., Chevron Corporation |
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