Butane Gas Cartridges Market
Butane Gas Cartridges Market (Applications - Medical, Pest Control and Fumigation, Stoves, Food and Beverages, Metal Working, and Plastic Industry) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
Press Release :
Global Butane Gas Cartridges Market: Snapshot
One of the primary drivers augmenting the global butane gas cartridges market currently is the growing concern over energy security issues worldwide. A large number of individual customers and industrial customers are boosting their demand for butane gas cartridges requirements such as metalworking, pest control and fumigation, and sealing polybags which is a special function of the cartridges in the plastics industry. Additionally, the demand for butane gas stoves is getting boosted by a growing number of individual consumers that are more inclined toward tourism and travelling where butane gas cartridges find an exceptionally high preference.
The global butane gas cartridges market was valued at US$364.55 mn at the end of 2015. By the end of 2016, this market’s revenue is expected to reach US$380.30 mn and is projected to reach US$555.24 mn by 2024, after expanding at a CAGR of 4.73% from 2016 to 2024.
Butane Gas Stoves Bag High Demand for Butane Gas Cartridges
Based on applications, the global butane gas cartridges market has been classified into medical, pest control & fumigation, stoves, food & beverage, and minor utilities such as metal working. In terms of revenue, butane gas stoves held the leading share with over 50% of the market’s value in 2015. This factor is attributed to its extensive use as a portable energy storage unit by individuals for home cooking and camping activities.
The use of butane gas cartridges in the food and beverages industry is primarily driven by its need as fuel for blow torches used for meat and fish processing and other processes. The increase in the demand for convenient foods globally, in terms of quantity and quality is thus the key factor driving the demand for butane gas cartridges in the F&B sector. Butane gas also plays a key role in the medical industry for various medical procedures. Butane gas cartridges are also used as portable fuel units in pest control machines, which is especially useful in rural or remote areas.
Portability of Butane Gas Cartridges renders it Leading Fuel Source in APAC
Asia Pacific dominated the global butane gas cartridges market in 2015, followed by North America and Europe. The demand for butane gas cartridges in the APAC region is primarily driven by the high demand for aerosol containers and butane filling machines. The volatility in price of butane is unfortunately a large problem in this region and can either drive or restrain the APAC market for butane gas cartridges. Small-scale traders, vendors, distributors, wholesalers, and e-stores form the bulk of the distribution chain for butane gas cartridges of various capacities in this region. In terms of demand within APAC, China leads the market in the region. The same trend is expected to continue in the next few years. The rise in demand in China is attributed to growing population and increase in energy storage requirements. North American players in the butane gas cartridges market are focusing on expansion strategies in terms of increasing their manufacturing facilities of butane gas cartridges in other regions. Currently, cartridges are imported from South Korea and China. In North America, over 40% of butane gas cartridges currently produced or imported are used in butane stoves as a portable fuel source.
Key players in the butane gas cartridges market are expected to benefit from the formation of strategic alliances with other players in the market. For 2015, the leading players in the global butane gas cartridges market were Tae Yang Corporation, Praxair Technology, Inc., ULTRACARE PRODUCTS, Aspire Industries, and CEPSA
Global Butane Gas Cartridges Market: Overview
This research study analyzes the market for butane gas cartridges in terms of revenue (US$ Mn). The butane gas cartridges market has been segmented on the basis of application and region. The report features a detailed segmentation with market growth forecasts from 2016 to 2024. 2015 has been considered the base year and 2016 the estimated year, while all forecasts have been given for the period from 2016 to 2024. Market data for all the segments has been provided at the submarkets and country-specific levels from 2016 to 2024. The report provides a broad competitive analysis of companies engaged in the production and distribution of butane gas cartridges, globally. The report also includes key market dynamics such as drivers, restraints, and opportunities affecting the butane gas cartridges market. These are analyzed in detail and illustrated in the report with supporting graphs and tables. The report also provides a comprehensive analysis of the market with the help of the Porter’s Five Forces Analysis model, which helps in understanding the factors that affect the structure and profitability of the butane gas cartridges market. These are the bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitutes, and degree of competition.
Global Butane Gas Cartridges Market: Drivers
The report provides detailed insights into the butane gas cartridges business. Currently, numerous factors drive the butane gas cartridges market. The most prominent drivers include growth of portable energy storage systems, low prices of crude oil and natural gas, energy security, high efficiency when compared to solid or liquid cartridge fuels, growing consumerism, and others. Market attractiveness analysis was carried out for the butane gas cartridges market on the basis of application and region. Market attractiveness was estimated on the basis of common parameters that directly impact the market.
Global Butane Gas Cartridges Market: Scope of the Study
Butane gas cartridges stoves is the highly attractive application segment of the butane gas cartridges market. Small traders and distributors are actively selling integrated butane gas cartridges stoves to individual customers. Over 25% butane gas cartridges is sold through e-stores and 85% is sold directly through wholesalers. Butane gas cartridges are used to power pest control machines and foggers. Growth of pest control services is driven by increasing pest population, attributed to the largely available food sources for small organisms and conducive living habitats. Furthermore, growing consumer awareness about health and hygiene in developed and developing countries fuels demand for pest control services, which in turn drives the butane gas cartridges market. Usage of butane gas cartridges in portable blow torches in medical and F&B applications is expected to rise due to high demand for portable energy systems during emergency situations and ease in processing of meat & fish, and caramelizing sugar.
Globally, butane gas fired stoves are marketed by several companies, traders, distributers, and wholesalers. Several countries are focusing more on tourism activities which has enhanced demand for butane gas cartridges as a portable energy storage device. Fluctuation in prices of raw materials such as natural gas and crude oil coupled with stringent regulations related to bottling of butane gas act as restraints of the butane gas cartridges market.
Global Butane Gas Cartridges Market: Analytical Layout
The butane gas cartridges market has been segmented into two categories: application and region. In terms of application, the butane gas cartridges market has been classified into medical, pest control & fumigation, stoves, food & beverage, and others (Metal Working, Plastic Industry etc. Several individual customers utilize butane gas cartridges for backup fuel storage for cooking purpose. Portable stoves with integrated butane gas cartridges are widely used during camping, picnic, and other outdoor activities. Growing F&B and medical industries would provide further impetus to the demand for butane gas cartridges, globally.
Prominent players in the butane gas cartridges market are Ultracare Products, Tae Yang Corporation, Aspire Industries, CEPSA, Do-Well Aerosols, Minh Anh Corp., ENERGAS, Marina Corporation., Ltd., Sejeong Industrial Inc., Calor Gas, and others.
The butane gas cartridges market has been segmented as follows: