Use of Portable Stoves with Integrated Butane Gas Cartridges Spur Sales in Butane Gas Cartridges Market, Valuation to Expand at CAGR of ~4% from 2019 to 2027
ALBANY, N.Y., Oct. 1, 2020 /PRNewswire/ -- The safety of butane gas cartridges has made it as a prominent type of portable energy systems in diverse range of applications such as in camping and picnic, metalworking, sealing polybags, and pest control and fumigation. The demand for gas stoves has been proliferating in camping and picnic applications in recent times.
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Growing popularity of portable fuel storage solutions has spurred the prospects in the butane gas cartridges market. Small traders and distributors are expected to form key touch points for individual customers.
The global butane gas cartridges market was pegged at ~US$ 400 Mn in 2018 and is projected to clock a CAGR of more than 4% during the forecast period of 2019 - 2027.
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Key Findings of Butane Gas Cartridges Market Report
-- Of the various applications, butane gas stoves segment accounted for the
leading share in 2018 and is expected to remain so during forecast
period
-- The segment is expected to clock a CAGR of more than 3% from 2019 to
2027
-- The second leading segment is food and beverages
-- Asia Pacific is the leading geographical market in 2018
-- China and India are key revenue generators to Asia Pacific butane gas
cartridges market
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Butane Gas Cartridges Market: Key Driving Factors and Promising Avenues
-- The drive for new portable energy storage solutions in outdoor
activities is bolstering the revenue potential in the butane gas
cartridges market.
-- Over the past few years, rise in number of camping and other outdoor
activities in various parts of the world has spurred the demand for
butane gas cartridges market.
-- Food and beverages industry have been attracted by the safety and
portability of butane gas cartridges and has been using them for meat
and fish processing, such as in caramelizing sugar.
-- Over the past few years, butane gas cartridges are seeing demand in the
medical industry, thereby augmenting the prospects in the butane gas
cartridges market.
-- Rise in metalworking activities in developing world has fuelled the
uptake of butane gas cartridges in welding and cutting of metals.
-- Rise in demand for convenience food products has spurred the prospects
in the butane gas cartridge market, since they find extensive use in
some of the food processing applications.
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Butane Gas Cartridges Market: Regional Landscape
-- Geographically, Asia Pacific accounted for the leading share in the
butane gas cartridges market in 2018.
-- China is home to several manufacturers, traders, distributors, and hence
has seen extensive production as well as consumption of butane gas
cartridges market.
-- The domestic consumption is expected to see a rapid rise in Asia in the
next few years, with China being at the forefront.
-- Rise in tourism activities in Asian nations has also spurred the
prospects of the demand for butane gas cartridges.
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Key Impediments to Butane Gas Cartridges Market Stakeholders
Fluctuations in prices of crude oil and natural gas have markedly affected the production of butane gas, hence impeding the demand for butane gas cartridges. The prices are expected to see rise, which might shape the prospects adversely. Companies are also lax about regulatory norms they need to adhere to. This has raised significant safety concerns. For instance, this has led to numerous accidents such as in Australia, attractive negative criticisms.
Nevertheless, a steady demand will nudge several manufacturers to give due caution to the regulatory compliance of these power options.
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The Butane Gas Cartridges Market can be segmented as follows:
Butane Gas Cartridges Market: Application
-- Medical
-- Pest Control & Fumigation
-- Stoves
-- Food & Beverages
-- Others
Butane Gas Cartridges Market: Regional Analysis
-- North America
-- U.S.
-- Canada
-- Europe
-- EU5
-- Russia
-- Turkey
-- Rest of Europe
-- Asia Pacific
-- China
-- Japan
-- India
-- ASEAN
-- Rest of Asia Pacific
-- Latin America
-- Brazil
-- Mexico
-- Rest of Latin America
-- Middle East
-- GCC
-- Iran
-- North Africa
-- South Africa
-- Rest of Middle East & Africa
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