Major players in the butane gas cartridges market are Taeyang Corp, Ultracare Products, Coleman, Aspire Industries, Marina Corporation, Kampa, Zhejiang Jinyu, Balkan Gasovi, Iwatani Corporation, Gasmate, Do-Well Aerosols, Kovea Co.
New York, Oct. 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Butane Gas Cartridges Global Market Report 2021: COVID-19 Growth And Change" - https://www.reportlinker.com/p06177523/?utm_source=GNW
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The global butane gas cartridges market is expected to grow from $402.67 million in 2020 to $431.99 million in 2021 at a compound annual growth rate (CAGR) of 7.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $535.97 million in 2025 at a CAGR of 5.5%.
The butane gas cartridges market consists of sales of butane gas cartridges by entities (organizations, sole traders, and partnerships) that contain liquified butane gas mixed with a much smaller amount of Propane. These are manufactured using metal for better storage function and are most commonly used for camping and picnics, sealing poly bags, metalworking, pest control, and fumigation.
The main types of butane gas cartridges are below 220g/unit, 220-250g/unit, and above 250g/unit.Below 220g/unit cartridges are mainly used for portable gas stoves, fogging machines, and butane lanterns, and others.
The different applications include medical, stoves, food and beverages, commercial, others and used in various verticals such as pharmaceutical and biotechnological companies, chemical and petrochemical companies, food and beverage companies, others.
The Asia Pacific was the largest region in the butane gas cartridges market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Strategic collaborations are a key trend gaining popularity in the butane gas cartridges market.Major companies operating in the butane gas cartridges sector are focused on strategic collaborations and partnerships to strengthen their position.
For instance, in November 2019, ITM Power, a UK-based company that manufactures integrated hydrogen energy solutions collaborated with Iwatani Corporation, a Japan-based industrial gases company that offers butane gas cartridges for the integration of multi-MW electrolyzer-based hydrogen energy systems in North America. Furthermore, in November 2020, Iwatani Corporation collaborated with Toyota, a Japan-based automotive manufacturer to bring seven new hydrogen refueling stations to Southern California.
In October 2019, The Carlyle Group, US-based alternative asset management, and financial services corporation acquired a 37% stake in Cepsa from Mubadala for an undisclosed amount.The Carlyle Group acquired Cepsa in order to maintain its majority stake in Europe’s largest privately-owned integrated energy company.
Cepsa is a Europe-based company that manufactures butane gas cartridges.
The increase in population density in urban areas across the globe is contributing to the growth of the butane gas cartridges market.Butane gas cartridges are used to store the butane gas or a mixture of butane and propane gas.
Liquefied petroleum gas (LPG) is a mixture of butane and propane is used for cooking and higher population density is associated with the higher usage of LPG.For instance, countries in East Asia and the Pacific region saw the highest growth in their urban populations in the historic period.
In 2019, China’s urban population, reached 60.3% of the total population, while India’s urban population accounted for 34.5%. According to the Ministry of Petroleum and Natural Gas of India estimates LPG consumption is expected to grow to 30.3 million tonnes by 2030 and 40.6 million tonnes by 2040. Therefore, an increase in urban population density is driving the usage of LPG or butane gas, which in turn, drives the market for butane gas cartridges.
The countries covered in the butane gas cartridges market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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