Butane Market growth analysis in Diversified Chemicals Industry | Technavio

NEW YORK, July 15, 2021 /PRNewswire/ — The butane market is expected to grow by USD 12.75 billion during 2021-2025,…

NEW YORK, July 15, 2021 /PRNewswire/ — The butane market is expected to grow by USD 12.75 billion during 2021-2025, according to Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the butane market in optimistic, probable, and pessimistic forecast scenarios.

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With the gradual recovery of markets from the aftermath of COVID-19 pandemic, the diversified chemicals industry is likely to witness a mixed impact during the forecast period.

Companies across the globe are focusing on creating a Resilient Business Model in the Face of COVID-19. Vendors are continuing their ongoing operations while building resilient business models as the path to recovery from the pandemic is being carved out.

The recovery process involves various phases including:

  • Addressing Potential Impacts by Facilitating changes in Process Designs
  • Identifying potential disruptions
  • Assessing Impact on Critical IT infrastructure and Software System

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Key Considerations for Market Forecast:

  • Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
  • Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
  • Pre- as well as post-COVID-19 market estimates
  • Quarterly impact analysis and updates on market estimates

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Top 3 Butane Market Players

BP Plc

The company offers butane, which is used in LPG, refineries, and petrochemical industries.

Chevron Corp.

The company offers butane, which is used in LPG, refineries, and petrochemical industries.

ConocoPhillips Co.

The company offers butane, which is used in LPG, refineries, and petrochemical industries.

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Butane Market 2021-2025: Segmentation

Butane market is segmented as below:

  • Application
    • LPG
    • Petrochemicals
    • Refineries
    • Others
  • Geography
    • APAC
    • MEA
    • North America
    • Europe
    • South America

The butane market is driven by the advantages of LPG as auto fuel over conventional fuels. In addition, less stringent regulations on the use of butane in North America are expected to trigger the butane market toward witnessing a CAGR of over 3% during the forecast period.

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Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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