- In terms of value, the global butane gas cartridges market was stood around US$ 400 Mn in 2018 and is anticipated to expand at a CAGR of more than 4% from 2019 to 2027
- Stoves application accounted for largest share of the butane gas cartridges market in terms of value with more than 35.0% share in 2018 followed by food & beverages.
- Growing demand for portable energy storage systems such as butane gas stoves for outdoor activities such as picnic, camping, and others have boosted the sales of butane gas cartridges, globally
- Based on region, Asia Pacific held a major share in 2018 and is expected to remain dominant region during the forecast period. Increase in demand for portable energy storage systems in countries such as China and India propels the demand for butane gas cartridges
- After Asia Pacific, North America is the major region which accounted for more than 20% of the butane gas cartridges in 2018.It is expected to exhibit moderate growth rate during the forecast period
- Small traders and distributors are actively selling integrated butane gas cartridges stoves to individual customers. Around 30-35% butane gas cartridges is sold through e-stores and rest is sold directly through wholesalers and retailers
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Volatility in Crude Oil Price and Risk Associated With Bursting of Gas Cartridges May Hamper Overall Demand of Butane Gas Cartridges
- The raw material for production of butane gas are crude oil and natural gas. The compressed gas is then filled into cartridges or canisters and is sold to specific customers.
- Crude oil and natural gas are traded in the global market. Butane gas is a derivative of natural gas. Thus, demand for butane gas cartridges is affected by prices of crude oil and natural gas.
- Prices of crude oil and natural gas are expected to rise moderately, which is likely to raise the prices of butane gas cartridges during the forecast period.
- Furthermore, Butane gas cartridges are predominantly utilized for energy storage such as in gas stoves. More than 100 companies are engaged in the distribution and production of butane gas cartridges. Some of these companies do not comply with acceptable standards, which leads to major fire hazards resulting in loss of property and/or life. Australia has already banned using these cartridges owing to increase in the number of accidents every year
- This is one of the major factor which may restrict the sales of butane gas cartridges during the forecast period 2019 to 2027
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Asia Pacific Expected to Remain Leading Region of Global Butane Gas Cartridges Market
- In terms of value, Asia Pacific accounted for major share of more than 50.0% of the global butane gas cartridges market in 2018. It is likely to remain the dominant market during the forecast period 2019 to 2027. Countries such as China, South Korea, and India in Asia Pacific are dominant in terms production and supply of butane gas cartridges
- Apart from Asia Pacific, North America is expected to grow at moderate rate compared to other region
- China also provides various capacity based butane gas cartridges at lower prices vis-à-vis countries such as Germany, the U.S., France, and Japan
Global Butane Gas Cartridges Market -Key Developments
- OJC, a leading South Korean company which is specialized in manufacturing and exporting of butane gas cartridges has invented the new butane gas cartridge which is called ‘Good Butane’. This is world’s first dual safety system offering anti-burst and fire solution.
Global Butane Gas Cartridges Market: Competition Landscape
- Notable players operating in the global butane gas cartridges market include Praxair Technology, Inc., Tae Yang Corporation, Aspire Industries, ULTRACARE PRODUCTS, CEPSA, Do-Well Aerosols, KOVEA, SEO YOUNG CORPORATION, Onezone Gas, The Coleman Company, Sejeong Industrial Co., Ltd
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