Butane Market Size Worth USD 167.09 Billion by 2028 With CAGR of 7.2% | Reports and Data

Butane Market Size Worth USD 167.09 Billion by 2028 With CAGR of 7.2% | Reports and Data

Butane Market Size – USD 98. 26 Billion in 2020, Growth - CAGR of 7. 2%, Trends – The rising demand for butane in power generation. NEW YORK CITY, NY, UNITED STATES, October 29, 2021 /EINPresswire. com / -- The growing demand for petrochemicals and automobile industries is expected to drive the market for Butane. The global Butane market is forecast to reach USD 167. 09 Billion by 2028, according to a new report by Reports and Data. Butane is highly flammable, colorless, and can be easily liquefied gas. It is a fossil fuel and is used in homes or farms, in industry, and transportation, among others. It is used as liquefied petroleum gas (LPG), lighters, refrigerant, and aerosols, among others. It is used to fuel the cutting torches and other equipment. As it can be easily compressed, gas canisters are an ideal choice for its storage. The rising standards of living and increasing disposable incomes are also propelling the growth of the market. High volatility in crude oil prices and stringent regulations are the prime factors restraining the market growth. Rise in industrialization with capacity expansion of refineries in developing nations such as China and India are providing ample