Global Liquefied Petroleum Gas (LPG) Market: Industry Size, Share, Segments, Growth and Forecast, 2018–2025

Global Liquefied Petroleum Gas (LPG) Market: Industry Size, Share, Segments, Growth and Forecast, 2018–2025

Liquid petroleum gas (LPG) sales in 2013 totaled US$233.83 billion and are expected to rise to US$299.05 billion by 2020, according to a new report. From 2014 to 2023, it is expected to grow at a CAGR of 3.40 percent. In the report's title, "Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2020," Liquefied Petroleum Gas (LPG) is discussed.




Known as propane or butane, LPG is a combustible mixture of hydrocarbon gases that is also known as a liquid petroleum gas (LPG). It is used as a fuel in a variety of products, including heaters, cars, and kitchen appliances. It is commonly known as auto gas when used to fuel a vehicle. This gas replaces chlorofluorocarbons, which harm the ozone layer when used as a refrigerant and aerosol propellant. It can be used in a variety of ways, including as a fuel cylinder in the hospitality, agriculture, recreation, construction, fishing, sailing, and calefaction industries, among others. Additionally, it acts as a source of energy for central heating, water heating, and cooking.

According to the study, the rising demand for automobile gas has led to an increase in the use of LPG, which has helped drive the industry forward. As a result, demand for LPG in the form of fuel is expanding in places like Latin America, Asia Pacific, and Africa, where LPG is readily available and inexpensive. There are numerous development potential in the market for LPG, including the expansion of the Panama Canal and the predictable production of shale gas in Latin America and Asia. While crude oil prices might fluctuate, they can also affect LPG pricing, which can limit market expansion.



The LPG market is divided into three categories based on where it comes from: related gas, refinery gas, and non-associated gas, according to the study. Non-associated gas is expected to account for the greatest proportion of this market over the forecast period. Petrochemical and refinery, residential and commercial, transportation, industrial, and others are some of the market's end users. In 2013, the residential and commercial segment dominated the market, accounting for more than 60% of the total market share. Cooking, lighting, and warmth are all common uses of LPG gas in this market.

The report divides the market into five regions: Europe, North America, the Middle East and Africa, Asia Pacific, and South and Central America. The Middle East is the world's greatest producer of LPG, followed by Asia and Europe. Although North America emerged as a net importer of propane in 2012, the United States emerged as a net exporter. The increased demand for LPG in the commercial and residential sectors in the United States will also cause excess production to be shipped to Latin America in the future years.

There are a number of major participants in the LPG industry, including Exxon Mobil, British Petroleum, Kleenheat Gas, Origin Energy, Kleenheat Gas, Copagaz, SHV Energy, and Repsol, as detailed in the research.

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