Butane Gas Cartridges Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1407
Global Butane Gas Cartridges Market size is projected to attain a prominent growth over the forecast timeframe, with moderate gains close to 4% CAGR.
Butane gas cartridges are amongst the efficient ways for storing fuels. The major advantage of the product includes its light weight and highly portable nature. The overall butane gas cartridges market is positively influence by increasing product applications attributing to its suitability for portable purposes and cleaner burning nature compared to liquid fuels.
Presently, there are numerous factors that are driving the butane gas cartridges market in different aspects. The major driver is government rules and regulations to use clean burning fuels over the conventional ones, hence favoring the overall butane gas cartridges market growth by 2024. Many individual consumers use the product for backup fuel storage for cooking activities, thus boosting the growth of portable energy storage systems and eventually pushing the industry growth in the near future.
Drifting consumer focus towards recreational event such as camping, picnic will boost the global butane gas cartridges market size by 2024, as the it offers easy portability and light weight. In addition, growth of pest control services across schools, offices, factories, commercial and residential complexes on account of increasing awareness among consumers about health and hygiene will subsequently drive the butane gas cartridges market size over the forecast timespan.
Strong growth in the medical business is analyzed to complement the global butane gas cartridges market in the coming years. Across medical sector, the product finds applications in blow torches used in surgery, dentistry, pharmacy and optometry. Similarly, rise in population every year and increasing health concerns shall escalate the product demand in various applications across medical and healthcare equipment industry. The major hurdle in butane gas cartridges market growth is the constant fluctuation in crude oil and natural gas prices across different parts of the world. Furthermore, prevalence, of strict government regulations regarding butane gas bottling may obstruct business growth.
Based on application, the butane gas cartridges market share is segregated into pest control, stoves, medical and other applications (metal working, plastic industry, etc.). Portable energy storage devices integrated with the product are extensively used by consumers for camping, picnic and other outdoor activities. Butane gas cartridges market for stoves is highly attractive segment globally. Small vendors and traders are selling product based stoves to customers due to less initial investment involved in aerosol cans making and compressed butane gas filling. The product is used in metal working industry in processes such as soldering, softening paint for removal, brazing, casting before welding and melting roof tar. It is also used in melting ice and snow from driveways and pavements in cold climate regions.
Asia Pacific, North America and Europe are likely to exhibit high product demand over the forecast period. The growth of butane gas cartridges market in these regions can be attributed to the increasing demand for portable fuel storage devices across different business verticals. In case of Asia Pacific and Middle East counties, the product demand may rise due to the growing adoption of western food culture (frozen food) among consumers which will drive the butane gas cartridges market size for stove applications. Moreover, due to increased initiatives by governments to ensure energy security, these regions are showing huge potential for the industry market growth. Also, the recent technological advancements in high performing gas cartridge equipment that have improved ignition control and enhanced consumption characteristics of gases, have further supported the butane gas cartridges market growth in the regions.
The major butane gas cartridges market share contributors are Tae Young Corporation, Marina Corporation Limited, Aspire Industries, ENERGAS, CEPSA, Ultracare Products, Do-well Aerosols, Praxair Technology, Minh Anh Corporation and Sejeong Industrial Inc. Most of the market share contributors are targeting small regional players for joint ventures and alliances to capture bigger chunk of the industry and expand their business across major regions of the world.
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