The major players in the global butane market are British Petroleum, Chevron Corporation, ConocoPhillips Co., ExxonMobil Corp., Royal Dutch Shell, Sinopec, etc.
PORTLAND, UNITED STATES, USA, January 18, 2022 /EINPresswire.com/ — The Butane market is analyzed based on regions and the competitive landscape of each region is mentioned. Regions covered in the study include North America (United States, Canada, and Mexico), Europe (Germany, France, United Kingdom, Russia, and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, Nigeria and South Africa). This information helps design strategies and create new opportunities to achieve exceptional results.
According to the report published by Allied Market Research, “Butane Market by Type, Vertical, and Region: Global Opportunity Analysis and Industry Forecast, 2020-2027.” The study presents the impending industry revenue forecasts for the next few years coupled with impending market trends and opportunities. Moreover, the study also distributes different logical charts and graphs to identify the intricacies of the market.
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A complete and extensive assessment of the aspects driving and restraining market growth is also provided throughout the study. This detailed exploration of the market size and its appropriate segmentation helps market players to define the predominant opportunities looming.
A detailed analysis of operating business segments, product portfolio, business performance and key strategic developments is offered in the research. Key market players analyzed in the report include Celanese Corporation. These players have adopted various strategies including expansions, mergers and acquisitions, joint ventures, new product launches, and collaborations to gain a strong position in the butane market.
Most of the total amount of butane produced in the world is used in the manufacture of liquefied petroleum gas (LPG). LPG is used all over the world in residential and commercial locations, primarily for cooking and heating purposes. Additionally, 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 greatly increased the demand for butane.
Additionally, butadiene is used in refineries as a blending agent in fuels such as gasoline and compressed natural gas (CNG) as well as other utility products such as lighters and aerosol propellants such as deodorants. . The increasing use of butane torch in glass manufacturing, plumbing and construction industry has played a significant role in the growth of the butane market across the globe. However, fluctuating crude oil prices could act as a restraining factor for the market. Conversely, rapid technological developments by manufacturers and increasing use of LPG and CNG are expected to drive the growth of the butane market.
In terms of market share, the Asia-Pacific region leads the global butane market, owing to the strong demand for LPG and CNG in the region. Factors such as the high population density and the increase in the number of vehicles have led to an increase in the demand for fuel in the region. The market in the Middle East region is expected to grow at a significant rate owing to the presence of a large number of refineries in the region.
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Analysis of the impact of COVID-19
The outbreak of the pandemic had a massive impact on the majority of industries and the butane market was also no exception in this regard. The report provides a detailed study on the micro and macro-economic impact during the pandemic. Additionally, it emphasizes the direct impact of the COVID-19 pandemic on the butane market in the form of a qualitative study. The report offers explicit details on market scope and shares during this unprecedented time. At the same time, major strategies adopted by market players to combat the global crisis are also covered in the report. Last but not least, the report highlights how the pandemic has distorted the market supply chain and also takes into account a post-COVID-19 analysis.
Report key offerings:
• Key Drivers and Opportunities: Detailed analysis of driving factors and opportunities in different segments for strategy development.
• Current trends and forecasts: comprehensive analysis of the latest trends, development and forecasts for the next few years in order to take the next steps.
• Segmental Analysis: Analysis of each segment and drivers, as well as revenue forecast and growth rate analysis.
• Regional Analysis: In-depth analysis of each region helps market players design expansion strategies and leapfrog.
• Competitive Landscape: Detailed information on each of the major market players to define a competitive scenario and take action accordingly.
The research offers an in-depth analysis of major players active in the global butane market including British Petroleum, Chevron Corporation, ConocoPhillips Co., ExxonMobil Corp., Royal Dutch Shell, Sinopec Group., Proton Gases India Pvt. ltd., Valero Energy Corporation and Aditya Air Product Pvt. ltd.
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Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
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