Europe Butane Market Size is Expected to Hold a Significant Share By 2033 | CAGR of 3.8%
Category: Chemicals & MaterialsEurope Butane Market Size is Expected to Hold a Significant Share By 2033
According to a research report published by Spherical Insights & Consulting, the Europe Butane Market Size is Expected to Hold a Significant Share by 2033, at a Compound Annual Growth Rate (CAGR) of 3.8% during the projected period.
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Browse key industry insights spread across 187 pages with 95 Market data tables and figures & charts from the report on the "Europe Butane Market Size, Share, and COVID-19 Impact Analysis, By Type (Isobutane and N-butane), By Application (Liquefied Petroleum Gas LPG, Petrochemicals, Refinery, and Others), and Europe Butane Market Insights, Industry Trend, Forecasts to 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/europe-butane-market
N-butane, often known as butane, is a commonly used organic chemical that is used as an organic solvent and for blending gasoline. It can be found in natural gas and is found naturally in petroleum. Butane is one of the pure compounds that are created when the many fractions and products found in petroleum are separated during the extraction process. In Europe, butane, a liquefied petroleum gas (LPG), is utilized for several purposes, such as cooking and heating in both home and commercial settings. In Europe, several factors impact the butane market. In comparison to coal, butane emits lower carbon emissions throughout the energy generation process. Additionally, the need for iso-butane as an aerosol propellant is being increased by the pharmaceutical and cosmetics industries. However, methyl tert-butyl ether poisoning of groundwater is impeding market expansion.
The n-butane segment is anticipated to hold the largest market share of the Europe butane market during the projected timeframe.
Based on the type, the Europe butane market is classified into isobutane and n-butane. Among these, the n-butane segment is anticipated to hold the largest market share of the Europe butane market during the projected timeframe. To increase its volatility, benzene is mixed with N-butane in its straight-chain form. Gas processing facilities close to natural gas or crude oil reservoirs can provide naphtha, a by-product of refining crude oil. High-octane fuels are frequently produced using isobutane, which is mostly utilized as an alkylating agent.
The liquefied petroleum gas LPG segment is predicted to dominate the Europe butane market during the projected timeframe.
Based on the application, the Europe butane market is categorized into liquefied petroleum gas LPG, petrochemicals, refinery, and others. Among these, the liquefied petroleum gas LPG segment is predicted to dominate the Europe butane market during the projected timeframe. LPG's broad use as household and vehicle fuel might greatly accelerate the development of spending. One significant LPG consumption is the automotive sector. Since LPG is a far more efficient fuel than fossil fuels, it has significant environmental benefits when used in automobiles.
Major vendors in the Europe butane market include BP PLC ADR, ConocoPhillips, Devon Energy Corp, Linde PLC, Valero Energy Corp, Shell PLC, TotalEnergies SE, Chevron Corp, and Others.
Recent Developments
- In August 2024, Abastible S.A., a division of the Chilean Empresas Copec group, has purchased Gasib, a liquefied gas subsidiary of Spanish oil and gas corporation Compañía Española de Petroleos, S.A. (Cepsa).
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at Europe, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Europe butane market based on the below-mentioned segments:
Europe Butane Market, By Type
- Isobutane
- N-butane
Europe Butane Market, By Application
- Liquefied Petroleum Gas LPG
- Petrochemicals
- Refinery
- Others
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm that provides actionable market research study, quantitative forecasting, and trends analysis provides forward-looking insight especially designed for decision-makers and aids ROI.
Which caters to different industries such as financial sectors, industrial sectors, government organizations, universities, non-profits, and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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