PUBLISHER: The Business Research Company | PRODUCT CODE: 1391063
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391063
“Butane Gas Cartridges Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on butane gas cartridges market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for butane gas cartridges? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The butane gas cartridges market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The market for butane gas cartridges involves the sale of cartridges containing liquefied butane gas, combined with a smaller amount of propane. These cartridges are typically made of metal for enhanced storage capabilities and find common applications in activities such as camping, picnics, sealing poly bags, metalworking, pest control, and fumigation.
The primary types of butane gas cartridges are categorized as below 220g/unit, 220-250g/unit, and above 250g/unit. Cartridges below 220g/unit are predominantly utilized for portable gas stoves, fogging machines, butane lanterns, and other similar purposes. These cartridges find diverse applications in medical, stoves, food and beverages, commercial sectors, and are used across various industries, including pharmaceutical and biotechnological companies, chemical and petrochemical companies, food and beverage companies, among others.
The butane gas cartridges market research report is one of a series of new reports from The Business Research Company that provides butane gas cartridges market statistics, including butane gas cartridges industry global market size, regional shares, competitors with a butane gas cartridges market share, detailed butane gas cartridges market segments, market trends and opportunities, and any further data you may need to thrive in the butane gas cartridges industry. This butane gas cartridges market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The butane gas cartridges market size has grown strongly in recent years. It will grow from $0.5 billion in 2023 to $0.53 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The observed growth in the historical period can be attributed to several factors, including the increased popularity of outdoor recreational activities, the demand for portable and easy-to-use fuel sources for cooking and heating, the rise in urbanization leading to a need for convenient portable energy solutions, the emergence of small and compact gas-powered appliances, and an increased number of foodservice businesses utilizing portable stoves.
The butane gas cartridges market size is expected to see strong growth in the next few years. It will grow to $0.68 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The anticipated growth in the forecast period can be attributed to the rising demand for eco-friendly and recyclable materials used in butane gas cartridges, the growth in the global e-commerce market facilitating online sales and distribution, the increased adoption of butane gas cartridges for emergency preparedness and disaster relief, expanding applications in the industrial and construction sectors, and a rising demand for convenient and energy-efficient solutions. Key trends expected during this period include the integration of butane gas cartridges into portable power generators, the incorporation of safety features like pressure relief valves and leak protection, technological improvements in butane gas cartridge design and manufacturing, the trend towards miniaturization and portability, and the use of eco-friendly and recyclable materials.
The growth of urban population density globally is a key driver for the expanding butane gas cartridges market. These cartridges are utilized for storing butane or a combination of butane and propane gases, commonly used in cooking applications. Liquefied petroleum gas (LPG), a mixture of butane and propane, is particularly prevalent in densely populated urban areas. Notably, East Asia and the Pacific region have witnessed substantial growth in urban populations. In 2019, China's urban population accounted for 60.3% of the total population, while India's urban population represented 34.5%. Projections from the Ministry of Petroleum and Natural Gas in India estimate a substantial growth in LPG consumption, reaching 30.3 million tons by 2030 and 40.6 million tons by 2040. Consequently, the surge in urban population density is fostering increased utilization of LPG and butane gas, thereby propelling the expansion of the butane gas cartridges market.
The anticipated growth in the tourism and travel industry is set to drive the butane gas cartridges market in the coming years. This upswing is attributed to factors such as rising disposable incomes, improved transportation accessibility, globalization, digital advancements, and a growing inclination towards exploration and leisure activities. The tourism and travel sector significantly contributes to the demand for butane gas cartridges, particularly in portable camping stoves, grills, and outdoor cooking equipment. These cartridges cater to the needs of campers, backpackers, and travelers seeking convenient and portable cooking solutions. Recent data from the United Nations World Tourism Organization reveals a notable increase in international tourism, with approximately 235 million tourists recorded in the first quarter of 2023. The sector's resilience is further evident in the revised 2022 figures, showing over 960 million international tourists, marking a 66% recovery compared to pre-pandemic levels. International tourism receipts also rebounded, surpassing USD 1 trillion, signifying a 50% real-term growth from 2021. The ongoing resurgence in tourism and travel is poised to be a driving force for the butane gas cartridges market throughout the forecast period.
Strategic collaborations have emerged as a prominent trend in the butane gas cartridges market, with major companies prioritizing partnerships to enhance their market position. A notable example is the collaboration between Iwatani Corporation and Toyota, a leading Japanese automotive manufacturer. In November 2021, this collaboration aimed to introduce seven new hydrogen refueling stations in Southern California, reflecting a strategic effort to bolster their presence and contribute to the development of hydrogen-related infrastructure. Such collaborations are indicative of the industry's commitment to innovation and expanding its reach through synergistic partnerships.
In October 2023, Sidi Kerir Petrochemicals Company, based in Abu Dhabi and renowned for its specialization in petrochemical products like polyethylene, Butene-1, and LPG manufacturing and marketing, forged a strategic partnership with Rungas Group, a Nigeria-based company with expertise in petrochemical products. This collaboration, facilitated for an undisclosed amount, is directed towards enhancing Sidi Kerir Petrochemicals Company's presence in the butane gas sector. The primary objective is to establish a butane cylinder factory in Egypt, showcasing a concerted effort to broaden capabilities and strengthen market positioning.
Major companies operating in the butane gas cartridges market include Taeyang Corporation, Ultracare Products, The Coleman Company Inc., Aspire Industries Inc., Marina Corporation, Kampa Limited, Zhejiang Jinyu Co. Ltd., Balkan Gasovi, Iwatani Corporation, Gasmate, Do-Well Aerosols, Kovea Co. Ltd., Seo Young Corporation, Praxair Inc., Maxsun Co. Ltd., Gabsan Development Co. Ltd., Junko Co. Ltd., Ozturk Ilac San. Ve Tic. A.S., CS Global Partners Limited, Den Hartogh Global BV, Airgas Inc., Middlesex Gases & Technologies Inc., Marathon Petroleum Corporation, Blazer Products Inc., Delek US Holdings Inc., Butler Gas Products Company, Linde LLC, Air Liquide America Specialty Gases LLC, Matheson Tri-Gas Inc., Messer Americas Inc., WestAir Gases & Equipment Inc., A-Gas Americas LLC, American Gas Products Inc., Bernzomatic Corporation, GasOne, Campingaz
The Asia-Pacific was the largest region in the butane gas cartridges market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market share. The regions covered in the butane gas cartridges report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the butane gas cartridges market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The butane gas cartridges market consists of sales of butane gas cartridges for use as a component of gasoline and as a feedstock for steam cracking, which produces base petrochemicals. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.