Tae Yang Corporation and Aspire Industries were
two highly prominent names in the global butane gas cartridges market
for 2015, thanks to their strong grasp over key regions in terms of
supplying their demand. Both companies own a wide array of products
in the global butane gas cartridges market and are showing promising
rates of expansions across the globe.
In its recent research report, Transparency Market
Research points to an intense competitive profile for the global
butane gas cartridges market. The market is very favorable to new
entrants due to the ease with which inexpensive raw materials are
available, and the low capital required to set up. This will compound
the competition within the global butane gas cartridges market,
further boosted by the growing rivalry from substitutes to butane gas
cartridges. The global butane gas cartridges market was valued at
US$364.55 mn at the end of 2015. By the end of 2016, this market’s
revenue is expected to reach US$380.30 mn and is projected to reach
US$555.24 mn by 2024, after expanding at a CAGR of 4.73% from 2016 to
2024.
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Gas Cartridges Winning Demand amid Need for
Portable Fuel Storage Units
“The global stockpile of energy can potentially
be used up faster than it can be generated. Industries are still
highly dependent on conventional fuels and as a result, energy
security becomes a paramount issue. The global butane gas cartridges
market is currently in a position where it can provide an economical
answer to the problem, thereby gaining a high volume of demand. Both
industrial clients as well as individual consumers are ramping up
their demand for gas capsules as they rank better in portability to
other fuel transportation options. This is especially beneficial for
individuals as it allows for the use of butane gas in rural or remote
locations as well,” states a TMR analyst.
The global butane gas cartridges market is also
being driven by the greater efficiency of butane gas when compared to
other liquid fuels that can be stored in capsules. Butane gas
cartridges are much lighter in weight and provide a great fuel
efficiency for their stored volume.
Shaky Crude Prices and Safety Issues Mar Butane
Gas Cartridges Demand
One of the key restraints acting on the global
butane gas cartridges market currently, is the volatility of crude
oil supply and pricing. The global market for crude oil and natural
gas has been in a shay state over the past decade owing to several
issues such as the depletion of key stockpiles and the growing
pressure on production by the extremely high consumption rate of fuel
by all economies. If the current trend continues, so will the
volatility in prices of butane gas cartridges across the world.
Another issue with butane gas cartridges is their relatively lower
level of safety in comparison to other fuel storage units. They can
be sources of fire hazards if misused and are the cause of multiple
home or office fires annually. Manufacturers are quick to respond to
these safety flaws and add increasingly efficient safety mechanisms
on the cartridges.
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“A lot of manufacturers in the global butane gas
cartridges market are taking one step backwards to cope with losses
in the event of extreme pricing pressure. They are beginning to
integrate the production of aerosol cans in order to tap their
growing demand, thereby creating additional opportunities in a time
where demand for butane cartridges is fickle,” adds the analyst.
The information presented in this review is based
on a Transparency Market Research report, titled, “Butane Gas
Cartridges Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2016 - 2024.”
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