The butane market size reached around USD 113.09 Billion in 2023. The market is projected to grow at a CAGR of 4.30% between 2024 and 2032 to reach nearly USD 165.19 Billion by 2032.
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Historical Year
Forecast Year
Global energy consumption is expected to reach nearly 580 million terajoules this year, which is equivalent to 13,865 million tons of oil. By the year 2040, this figure is anticipated to rise to 740 million terajoules, reflecting a 30% increase. This represents a 77% growth in global energy consumption from 2000 to 2040. The increasing demand for butane is closely linked with the growth of the global energy sector. As economies ramp up their energy usage, butane is important for providing cleaner and more efficient fuel alternatives. Additionally, as a vital component of LPG, butane is increasingly utilised in both commercial and residential energy solutions. Furthermore, its application as an automotive fuel and in petrochemical production significantly boosts demand, especially in developing energy markets.
As per the butane market analysis, the expansion of the automotive sector, particularly in regions adopting cleaner fuel alternatives, is driving the market forward. Various countries are encouraging the use of liquefied petroleum gas (LPG) in automotives to reduce emissions, resulting in increased demand for butane, an integral component of liquid petroleum gas. This trend is especially evident in countries like South Korea, Turkey, and Japan, where the uptake of autogas is growing, thereby boosting the use of butane as a vehicle fuel.
Value in USD Billion
2024-2032
Butane Market Outlook
*this image is indicative*
The butane market growth can be attributed to rising demand for liquefied petroleum gas, rise in global energy consumption, and increasing demand for automotive fuel.
One of the notable butane market trends is the rising demand for LPG. Butane plays a crucial role in LPG as it is extensively utilised as a fuel for heating, cooking, and various industrial processes. In developing nations, the increasing preference for LPG as a substitute for conventional biomass fuels such as wood and charcoal is driving the butane demand.
The global demand for energy is on the rise, particularly in emerging markets like China, India, and few regions of Africa. As part of a broader energy transition, butane is being widely incorporated into both industrial and residential energy use, enhancing its demand.
When combined with propane, butane act as an integral component of liquefied petroleum gas (LPG) which is used as a fuel for vehicles. With global initiatives promoting the adoption of cleaner fuels to lower carbon emissions, liquefied petroleum gas, which includes butane, is becoming a popular option for automobiles.
Butane serves as a feedstock in the production of different chemicals, including butadiene, which is important for the manufacture of synthetic rubber and plastics. The rising demand for these materials in the manufacturing and automotive sectors is further driving the need for butane.
The market is witnessing significant growth, fuelled by rising demand from sectors such as energy production, petrochemical manufacturing, and liquefied petroleum gas. Butane plays a crucial role in the creation of butadiene and synthetic rubber. Additionally, it is widely utilised as fuel for lighters and portable cooking devices. Furthermore, the rise in energy consumption and advancements in extraction technologies are also contributing to market growth. The Asia-Pacific is a significant market for butane, with substantial consumption in countries like India and China.
The EMR’s report titled “Global Butane Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Breakup by Type
Breakup by Application
Breakup by Region
Based on the region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Latin America is projected to grow at a CAGR of 4.6% during the forecast period of 2024-2032. The increasing demand for butane in the region is driven by urbanisation, dependence on liquefied petroleum gas for cooking and heating, rising automotive fuel needs, and the growth of industrial sectors, particularly in countries like Mexico and Brazil.
Market players are focusing on the application of energy efficient production process to gain a competitive edge in the market and to improve the butane market outlook.
Founded in 1908 and headquartered in London, United Kingdom, BP PLC is a key multinational entity in the oil and gas sector. The company is involved in different activities, including production, exploration, refining, and the development of renewable energy solutions, with a focus on sustainable practices and energy transition.
Established in 1879 and headquartered in California, United States, Chevron is a prominent global energy compa...
Founded in 1998 and headquartered in Beijing, China, CNPC is one of the largest energy companies in China. It ...
Founded in 1980 and established in Texas, United States, Valero Energy Corporation is an international produce...
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other major players in the butane market are Conocco Philips Inc., Devron Energy Corporation, Exxon Mobil Corporation, Shell plc, TotalEnergies SE, and Proton Gases India Pvt. Ltd., among others.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market attained a value of nearly USD 113.09 Billion.
The market is assessed to grow at a CAGR of 4.30% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 165.19 Billion by 2032.
The major drivers of the market are expansion of the energy sector and rising demand for automotives across the world.
The different applications of butane are LPG, petrochemicals, and refineries, among others.
The major regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major players in the market are Bp plc, Chevron Corporation, China National Petroleum Corporation (CNPC), Valero Energy Corporation, Conocco Philips Inc., Devron Energy Corporation, Exxon Mobil Corporation, Shell plc, TotalEnergies SE, and Proton Gases India Pvt. Ltd., among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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