Butane Market Size, Share, Trends, Industry Analysis Report: By Application (LPG, Petrochemicals, Refineries, and Others) and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)

Description

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The global butane market size is expected to reach USD 96.02 billion by 2034, according to a new study by Polaris Market Research. The report "Butane Market Size, Share, Trends, Industry Analysis Report: By Application (LPG, Petrochemicals, Refineries, and Others) and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.

Butane is a natural gas liquid and a refinery product, typically derived from crude oil refining and natural gas processing. It exhibits properties such as easy liquefication and high flammability, making it increasingly used in fuel manufacturing and blending. It is also widely used in petrochemical production.

The increased demand for LPG, which has butane as its key component, primarily fuels the butane market growth. Higher consumer income and rural development in several nations have increased awareness and shifted consumer preferences toward the use of LPG cylinders in residential applications. The use of LPG has reduced dependency on forest products for combustion purposes. LPG is also used widely in many developed countries for fuel and residential applications.

Favorable regulatory policies and government subsidies have also significantly contributed to the rising LPG consumption, thereby having a favorable impact on the butane market expansion. In countries such as India, the government subsidizes LPG cylinders based on the number of cylinders per household. Furthermore, several schemes have been introduced to provide LPG access to rural consumers. All these parameters have collectively contributed to the increased consumption of butane.

Key Highlights of Butane Market Report

Based on application, the LPG segment dominated the market with a revenue share of 72.5% in 2024. The rising consumption of LPG as a fuel for heating and cooking purposes in commercial and residential applications and the growing demand for auto fuel due to the increasing use of cars and other vehicles for daily commutes drive the robust growth of the segment.

Based on application, the petrochemicals segment is projected to witness the fastest growth from 2025 to 2034. The increasing utilization of petrochemicals in applications such as medical equipment, detergent, tires, plastics, and fertilizers is projected to influence the growth of the segment.

Asia Pacific dominated the butane market with a revenue share of 39.4% in 2024. The presence of supportive government policies and subsidies in countries such as India and the growth of end-use industries drive higher consumption of butane in the region.

North America is anticipated to witness significant growth from 2025 to 2034. The rapid advancement of the shale revolution in the US and the development of new hydrocarbon gas liquid facilities along the Gulf Coast are key contributors to the regional market growth.

China National Petroleum Corporation (CNPC), British Petroleum, Chevron Corporation, Valero Energy Corporation, Exxon Mobil Corporation, Proton Gases India Pvt. Ltd., Conocco Phillips Inc., Linde AG, TotalEnergies, Praxair, Devron Energy Corporation, Perenco, and Royal Dutch Shell plc. are a few of the key players in the market.

Polaris Market Research has segmented the butane market report on the basis of application and region:

By Application Outlook (Revenue - USD Billion, 2020-2034)

LPG
Residential/Commercial
Chemical/Petrochemical
Industrial
Auto Fuel
Refinery
Others
Petrochemicals
Refineries
Others

By Regional Outlook (Revenue - USD Billion, 2020-2034)

North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Netherlands
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Malaysia
South Korea
Indonesia
Australia
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
UAE
Israel
South Africa
Rest of the Middle East & Africa
Latin America
Mexico
Brazil
Argentina
Rest of Latin America

Product Code: PM1541

1. Introduction

1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary

2.1. Market Highlights

3. Research Methodology

3.1. Overview
- 3.1.1. Data Mining
3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources

4. Global Butane Market Insights

4.1. Butane Market - Market Snapshot
4.2. Butane Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Implementation of Favorable Government Initiatives
  - 4.2.1.2. High Applications in Petrochemicals Industry
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. Heavy Demand for Natural Gas
4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry Among Existing Firms (High)
4.4. PESTEL Analysis
4.5. Butane Market Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis

5. Global Butane Market, by Application

5.1. Key Findings
5.2. Introduction
- 5.2.1. Global Butane Market, by Application, 2020-2034 (USD Billion)
5.3. LPG
- 5.3.1. Global Butane Market, by LPG, by Region, 2020-2034 (USD Billion)
- 5.3.2. Residential/Commercial
  - 5.3.2.1. Global Butane Market, by Residential/Commercial, by Region, 2020-2034 (USD Billion)
- 5.3.3. Chemical/Petrochemical
  - 5.3.3.1. Global Butane Market, by Chemical/Petrochemical, by Region, 2020-2034 (USD Billion)
- 5.3.4. Industrial
  - 5.3.4.1. Global Butane Market, by Industrial, by Region, 2020-2034 (USD Billion)
- 5.3.5. Auto Fuel
  - 5.3.5.1. Global Butane Market, by Auto Fuel, by Region, 2020-2034 (USD Billion)
- 5.3.6. Refinery
  - 5.3.6.1. Global Butane Market, by Refinery, by Region, 2020-2034 (USD Billion)
- 5.3.7. Others
  - 5.3.7.1. Global Butane Market, by Others, by Region, 2020-2034 (USD Billion)
5.4. Petrochemicals
- 5.4.1. Global Butane Market, by Petrochemicals, by Region, 2020-2034 (USD Billion)
5.5. Refineries
- 5.5.1. Global Butane Market, by Refineries, by Region, 2020-2034 (USD Billion)
5.6. Others
- 5.6.1. Global Butane Market, by Others, by Region, 2020-2034 (USD Billion)

6. Global Butane Market, by Geography

6.1. Key Findings
6.2. Introduction
- 6.2.1. Butane Market Assessment, by Geography, 2020-2034 (USD Billion)
6.3. Butane Market - North America
- 6.3.1. North America: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.3.2. Butane Market - US
  - 6.3.2.1. US: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.3.3. Butane Market - Canada
  - 6.3.3.1. Canada: Butane Market, by Application, 2020-2034 (USD Billion)
6.4. Butane Market - Europe
- 6.4.1. Europe: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.4.2. Butane Market - UK
  - 6.4.2.1. UK: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.4.3. Butane Market - France
  - 6.4.3.1. France: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.4.4. Butane Market - Germany
  - 6.4.4.1. Germany: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.4.5. Butane Market - Italy
  - 6.4.5.1. Italy: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.4.6. Butane Market - Spain
  - 6.4.6.1. Spain: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.4.7. Butane Market - Netherlands
  - 6.4.7.1. Netherlands: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.4.8. Butane Market - Russia
  - 6.4.8.1. Russia: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.4.9. Butane Market - Rest of Europe
  - 6.4.9.1. Rest of Europe: Butane Market, by Application, 2020-2034 (USD Billion)
6.5. Butane Market - Asia Pacific
- 6.5.1. Asia Pacific: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.5.2. Butane Market - China
  - 6.5.2.1. China: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.5.3. Butane Market - India
  - 6.5.3.1. India: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.5.4. Butane Market - Malaysia
  - 6.5.4.1. Malaysia: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.5.5. Butane Market - Japan
  - 6.5.5.1. Japan: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.5.6. Butane Market - Indonesia
  - 6.5.6.1. Indonesia: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.5.7. Butane Market - South Korea
  - 6.5.7.1. South Korea: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.5.8. Butane Market - Australia
  - 6.5.8.1. Australia: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.5.9. Butane Market - Rest of Asia Pacific
  - 6.5.9.1. Rest of Asia Pacific: Butane Market, by Application, 2020-2034 (USD Billion)
6.6. Butane Market - Middle East & Africa
- 6.6.1. Middle East & Africa: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.6.2. Butane Market - Saudi Arabia
  - 6.6.2.1. Saudi Arabia: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.6.3. Butane Market - UAE
  - 6.6.3.1. UAE: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.6.4. Butane Market - Israel
  - 6.6.4.1. Israel: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.6.5. Butane Market - South Africa
  - 6.6.5.1. South Africa: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.6.6. Butane Market - Rest of Middle East & Africa
  - 6.6.6.1. Rest of Middle East & Africa: Butane Market, by Application, 2020-2034 (USD Billion)
6.7. Butane Market - Latin America
- 6.7.1. Latin America: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.7.2. Butane Market - Mexico
  - 6.7.2.1. Mexico: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.7.3. Butane Market - Brazil
  - 6.7.3.1. Brazil: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.7.4. Butane Market - Argentina
  - 6.7.4.1. Argentina: Butane Market, by Application, 2020-2034 (USD Billion)
- 6.7.5. Butane Market - Rest of Latin America
  - 6.7.5.1. Rest of Latin America: Butane Market, by Application, 2020-2034 (USD Billion)

7. Competitive Landscape

7.1. Expansion and Acquisition Analysis
- 7.1.1. Expansion
- 7.1.2. Acquisitions
7.2. Partnerships/Collaborations/Agreements/Exhibitions

8. Company Profiles

8.1. China National Petroleum Corporation (CNPC)
- 8.1.1. Company Overview
- 8.1.2. Financial Performance
- 8.1.3. Product Benchmarking
- 8.1.4. Recent Development
8.2. British Petroleum
- 8.2.1. Company Overview
- 8.2.2. Financial Performance
- 8.2.3. Product Benchmarking
- 8.2.4. Recent Development
8.3. Chevron Corporation
- 8.3.1. Company Overview
- 8.3.2. Financial Performance
- 8.3.3. Product Benchmarking
- 8.3.4. Recent Development
8.4. Valero Energy Corporation
- 8.4.1. Company Overview
- 8.4.2. Financial Performance
- 8.4.3. Product Benchmarking
- 8.4.4. Recent Development
8.5. Exxon Mobil Corporation
- 8.5.1. Company Overview
- 8.5.2. Financial Performance
- 8.5.3. Product Benchmarking
- 8.5.4. Recent Development
8.6. Proton Gases India Pvt. Ltd.
- 8.6.1. Company Overview
- 8.6.2. Financial Performance
- 8.6.3. Product Benchmarking
- 8.6.4. Recent Development
8.7. Conocco Phillips Inc.
- 8.7.1. Company Overview
- 8.7.2. Financial Performance
- 8.7.3. Product Benchmarking
- 8.7.4. Recent Development
8.8. Linde AG
- 8.8.1. Company Overview
- 8.8.2. Financial Performance
- 8.8.3. Product Benchmarking
- 8.8.4. Recent Development
8.9. TotalEnergies
- 8.9.1. Company Overview
- 8.9.2. Financial Performance
- 8.9.3. Product Benchmarking
- 8.9.4. Recent Development
8.10. Praxair
- 8.10.1. Company Overview
- 8.10.2. Financial Performance
- 8.10.3. Product Benchmarking
- 8.10.4. Recent Development
8.11. Devron Energy Corporation
- 8.11.1. Company Overview
- 8.11.2. Financial Performance
- 8.11.3. Product Benchmarking
- 8.11.4. Recent Development
8.12. Perenco
- 8.12.1. Company Overview
- 8.12.2. Financial Performance
- 8.12.3. Product Benchmarking
- 8.12.4. Recent Development
8.13. Royal Dutch Shell plc
- 8.13.1. Company Overview
- 8.13.2. Financial Performance
- 8.13.3. Product Benchmarking
- 8.13.4. Recent Development