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Europe Butane Market to Exhibit 3.6% CAGR till 2027; Substitution of CFCs with Butanes in the Cosmetics Industry to Favor Market Growth

January 29, 2021 | Chemicals & Materials

The Europe butane market size is projected to reach USD 8,580.9 million by 2027 owing to the high production of liquefied petroleum gas (LPG) for the transport sector in Europe, shares Fortune Business Insights™ in its report, titled “Europe Butane Market Size, Share & COVID-19 Impact Analysis, By Type (Normal Butane {Research grade (>99.9%), Instrument (>99.9%), Chemically Pure (~99.9%)}, Iso Butane {High Purity (>99.5%), Chemically Pure (~99.9%)}), High Purity Propane (>99%), By Application (LPG {Residential/ Commercial, Chemical/ Petrochemical, Industrial, Refinery, Auto fuel, Others}, Petrochemicals, Refineries, Cosmetics, Pharmaceuticals, Refrigeration & Air Conditioning, Others), Country Forecast, 2020-2027”. As per the report, the value of the market stood at USD 7,301.9 million in 2019 and the market is expected to register a CAGR of 3.6% from 2020 to 2027.


The COVID-19 pandemic has created widespread disruptions in the European chemical industry, which has had spillover effects on the Europe butane market growth. Fluctuating crude oil prices and supply-demand imbalances of oil have disturbed the pricing mechanisms of this gas in Europe, which has further hampered the growth of this market.


INEOS Unveils Europe’s Largest Butane Storage Tank


INEOS, the British multinational petrochemicals company, announced in October 2020 that it has built Europe’s biggest above-ground liquefied petroleum storage (LPG) tank at the Oiltanking Antwerp Gas (AGT) terminal in Belgium. Fully-refrigerated, the 135,000m3 facility doubles the storage capacity at the AGT terminal. The building of this unit is part of INEOS’ plans to expand and diversify its operations across North-western Europe, with the company spending an estimated USD 5 billion to accomplish its ambitions. The new facility will enable INEOS to import large butane gas carriers from the US and ship it from the storage unit down the Rhine to its ethylene cracker in Cologne using its massive barges.  


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/europe-butane-market-104707


Health Risks Associated with Butane May Impact Market Growth


Butane (C4H10) is an odorless, colorless, and highly flammable gas that is commonly used in household cooking cylinders and has wide industrial applications. However, the gas is extremely harmful to the human body, if inhaled in large quantities. For example, this gas suppresses the central nervous system, slowing down brain activities and physical responses. If it gets inhaled, its fumes are rapidly absorbed into the lungs, enter the bloodstream, and speedily reach the brain and other organs. While the initial feeling will be one of intoxication, later the side-effects will manifest through different symptoms such as aggression, slurred speech, hallucinations, short-term memory, and loss of consciousness. Instances of butane toxicity have been witnessed around the world. For example, in 2017, a 30-year-old male in Saudi Arabia suffered from seizures and later developed ventricular fibrillation. Investigations revealed his condition might have been triggered by the pure butane gas he had inhaled from his cigarette lighter. In Europe, under the European Green Deal, development and adoption of safer and eco-friendly substances is being encouraged and with growing awareness about the health risks of C4H10, it might eventually phase out.


Oil & Gas Giants to Tighten Grip on Market Share


This market is dominated by oil & gas behemoths such as Total SA and ExxonMobil. Armed with a robust portfolio and extremely strong financial foundations, these companies are in a constant race to expand their operations and diversify their businesses not just across Europe, but worldwide. To further entrench their position in the market, these players are actively forging alliances with other regional entities and enhancing their innovation capabilities, exploring novel growth avenues, gaining a foothold in emerging markets, and bringing efficiency in their production operations.


List of Key Players Covered in this Market Report:



  • British Petroleum plc (UK)

  • ConocoPhillips Company (U.S.)

  • Chevron Corporation (U.S.)

  • ExxonMobil (U.S.)

  • Sinopec Group (China)

  • Total SA (France)

  • China National Petroleum Corporation (China)

  • Linde plc (Ireland)

  • Air Liquide (France)

  • Equinor (Norway)

  • MOL Group (Hungary)

  • Other Key Players


Further Report Findings:



  • The LPG segment dominates the Europe market on account of LPG being extensively used as a motor fuel in Europe. In 2019, the refineries segment held a share of 13.1%.

  • Russia is expected to command the Europe butane market share during the forecast period as the country is one of the leading producers of natural gas in the world.


Table of Segmentation














































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Million) and Volume (KT)



Segmentation



  By Type, By Application and By  Geography



By Type




  • Normal Butane

    • Research Grade (>99.9%)

    • Instrument (>99.9%)

    • Chemically Pure (~99.9%)



  • Iso-Butane

    • High Purity (>99.5%)

    • Chemically Pure (~99.9%)



  • High-Purity Propane (>99%)



By Application




  • LPG

  • Petrochemicals

  • Refineries

  • Cosmetics

  • Pharmaceuticals

  • Refrigeration & Air Conditioning

  • Others



By Geography


 




  • Europe (By Type, Application, and By Country)



    • Germany

    • France

    • Romania

    • Italy

    • Russia

    • Serbia

    • Bulgaria

    • Slovakia

    • Ukraine

    • Czech Republic

    • Austria

    • Benelux

    • Bosnia

    • Poland

    • Croatia

    • Turkey

    • Rest of Europe




Europe Butane Market
  • PDF
  • 2019
  • 2016-2018
  • 94

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