Liquefied Petroleum Gas (LPG) Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Liquefied Petroleum Gas (LPG) Market: Snapshot
Liquefied petroleum gas (LPG), also known as butane or propane and is a combustible blend made out of various hydrocarbon gasses. It is used as a fuel inside warming machines, vehicles, and cooking hardware, among others. This gas, when used as a vehicle fuel, is frequently known as auto gas. This gas is broadly used as a refrigerant and a vaporized charge and replaces chlorofluorocarbons for diminishing the harm caused to the ozone layers. It has various different uses, particularly its use in barrels crosswise over different markets as a fuel holder in the areas of cordiality, horticulture, diversion, development, angling, cruising, and calefaction. It likewise fills in as a fuel for focal warming, water warming, and cooking and is to a great degree savvy in nature.
LPG demand, especially in the private area, is expected to witness high development particularly in the rising economies of BRICS as more family units are growing their energy blend as a response to the consistently incrementing power levies.
Different territorial governments are additionally promising the item use by offering sponsorships on barrels. Surging autogas use as a noteworthy option transportation fuel is additionally anticipated that would drive the business development attributable to its condition amicable nature. Condensed petroleum gas offers extensive ecological favorable circumstances described by low nursery and particulate issue emanations when contrasted with the traditional energizes. Expanding carbon emanation levels combined with related medical issues are driving the requirement for a maintainable energy system.
Global Liquefied Petroleum Gas (LPG) Market: Overview
Liquid petroleum gas (LPG) – flammable hydrocarbon gases – include propane, butane and mixtures of these gases. It is liquefied through pressurization and is generated from natural gas processing and oil refining. It is used as a fuel in central/water heating appliances, for cooking, in vehicles, as refrigerants, aerosol propellants, and petrochemical feedstock.
Liquid petroleum gas (LPG) is also known as auto gas when it is used as a vehicle fuel. This gas is also useful in cylinders across different markets in the form of a fuel container in agriculture, hospitality, recreation, sailing, construction, fishing, and calefaction sectors.
Global Liquefied Petroleum Gas (LPG) Market: Key Trends
Majorly boosting the global market for liquid petroleum gas (LPG) is the increasing consumption of auto gas on account of rapid urbanization and population growth, particularly in the emerging economies of Asia Pacific, Latin America, and Africa. Additionally, initiatives undertaken by governments in the countries of India, China, and Indonesia to supplant conventional cooking fuels such as kerosene, coal, and wood with liquefied petroleum gas (LPG) by providing subsidies on the latter will also lead to market growth in the near future. Governments across the world are also promoting LPG as auto fuel as it emits lesser quantities of greenhouse gases.
Clipping the growth in the market is the volatility in prices of crude oil which results in uncertainty in LPG prices.
Global Liquefied Petroleum Gas (LPG) Market: Market Potential
The potential in the global liquefied petroleum gas market is slated to see a significant upswing due to the expansion of the Panama Canal and increased production of shale gas in the U.S. This would allow the large gas carriers to make their way through the canal which will most likely make exports from North America competitive with those from the Middle East. Asia Pacific too will benefit from the expansion as it will pave the way for cheap LPG imports from the U.S.
Depending upon the source, the main segments of LPG are refinery, associated gas, and non-associated gas. Among them, the non-associated gas is expected to acquire a dominant position in the near future. The main end users of liquefied natural gas are residential and commercial, petrochemical and refinery, transportation, and industrial segments, among others. Among them, the residential and commercial segment leads the market with maximum share on account of widespread use of LPG gas for cooking and for heating. Going forward, there would be substantial increase in investment in capacity expansion for the production of auto gas as fuel.
Global Liquefied Petroleum Gas (LPG) Market: Regional Outlook
Geography-wise, Asia Pacific, Europe, the Middle East and Africa, North America, and South and Central America are the key regions in the market. Among them, the Middle East produces maximum LPG, while the U.S. in North America is a net importer. The LPG production in North America, however, is expected to rise.
Global Liquefied Petroleum Gas (LPG) Market: Competitive Analysis
The global market for liquefied petroleum gas is fragmented with the presence of many players. The prominent ones are focusing hard on expanding their auto fuel capabilities through long-term collaborations with distributors and auto-manufacturers. Some such prominent players are British Petroleum plc., LPG are Exxon Mobil Corporation, Kleenheat Gas Pty Limited, Origin Energy, SHV Energy N.V., Kleenheat Gas Pty Limited, Copagaz Distribuidora De Gas Ltda, and Repsol S.A.
The study presents a granular assessment and quantitative evaluation of:
The region-wise assessment includes market dynamics in:
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report