The global butane gas cartridges market had witnessed the dominance of Aspire Industries and TAE YANG Corporation in a recent year. These players showcased their prominence in top regions while catering to their demand. Both the companies are expected to exhibit telling expansion rates in different regions of the world and carry a wide-ranging product portfolio. According to Transparency Market Research (TMR), there could be an intense level of competition observed in the market. Low setup cost and availability of economically priced materials could bode well for the entry of new players in the market. CEPSA, Ultracare Products, and Praxair Technology, Inc. are some of the other leading players of the market.
Between 2016 and 2024, the global butane gas cartridges market is predicted by TMR to post a 4.73% CAGR to reach a valuation of US$0.55 bn by the final forecast year. In 2016, the market was worth a US$0.38 bn. In the recent past, stoves accounted for a nearly half of the total market share by application. Regionally, Asia Pacific displayed its prominence in the market on the back of leading demand in China.
Greater Efficiency of Butane Gas than Liquid Fuel Catapults Demand
Offering impressive fuel efficiency for their stored volume, butane gas cartridges come in a much lighter weight. In comparison with liquid fuels that could be stored in capsules, butane gas flaunts higher efficiency, which is anticipated to work in the favor of the world butane gas cartridges market.
Energy is usually consumed at a quicker rate than its generation at the global level. Energy security has become an important issue that needs to be addressed because there are industries still relying on traditionally used fuels for executing their operations. In this regard, it could be said that butane gas cartridges may gain high demand since it could provide an affordable solution to the problem at hand. Demand for gas capsules could see a rise as individual consumers and industrial clients find them feasible due to their better portability compared to other options for fuel transportation. Moreover, they could be used to make butane gas available in remote or rural locations.
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Instability in Crude Oil Prices and Supply Tarnishes Market Growth
Volatile prices and supply of crude oil could be a primary factor arresting the growth of the international butane gas cartridges market. This is projected to reflect on the prices of butane gas cartridges causing them to become volatile across the globe. Compared to other fuel storage units, butane gas cartridges have a lower safety level, meaning they could be misused and cause fire hazards.
However, manufacturers have been quick on their feet to respond to such shortcomings. Today, cartridges are equipped with largely efficient safety mechanisms and features that overcome safety flaws. With a view to tap into the expanding market of aerosol cans, several manufacturers are observed to begin the integration of their production. This is expected to create more prospects in the international butane gas cartridges market in a time when the demand is fickle.