Global LPG Market Analysis Plant Capacity, Location, Production, Operating Efficiency, Demand & Supply, End Use, Regional Demand, Sales Channel, Foreign Trade, Manufacturing Process, Industry Market Size, 2015-2035

Global LPG Market Analysis Plant Capacity, Location, Production, Operating Efficiency, Demand & Supply, End Use, Regional Demand, Sales Channel, Foreign Trade, Manufacturing Process, Industry Market Size, 2015-2035

H1 2023: In H1 2023, the Asia Pacific region saw a drop in LPG prices as the economy slowed and financial market volatility dampened the LPG demand. Furthermore, the volatility of crude oil prices has weighed on LPG pricing, affecting regional costs. In June, Saudi Aramco reduced Propane pricing. The reason of low LPG prices was due to abundant supplies in the Middle East and the United States, as well as low Chinese petrochemical demand. The Saudi propane contract price fell due to plentiful supplies from the Middle East and the United States, as well as weak petrochemical demand in Asia. Because of China’s persistently cheap propane prices, Chinese LPG prices were low. On the other hand, LPG prices depicted variations in H1 2023 in the US, with prices continuously declining till April 2023. LPG prices in the American market were low as there was ample of supply to meet the demand of the local market as well as the international demand. Butanol and Propane prices in the US market had decreased which supported the poor pricing trend. Prices rose in the mid-May 2023 as demand from downstream industries increased. However, prices declined by the end of H1 2023 due to adequate product availability and low to moderate demand from importing European and Asian countries. Further fluctuations in crude oil prices in Asia Pacific region resulted in changes in LPG prices in the region.

The global Liquified Petroleum Gas (LPG) market has reached approximately 320 million tonnes in 2022 and is expected to grow at a CAGR of 3.40% during the forecast period until 2035.

Liquified Petroleum Gas (LPG) is a gas which is a mixture of different carbon-based compounds like butene, propene, propane, and butane. The gas is produced in refineries through drilling of oil and gas wells. This is a flammable gas which is extensively used in domestic households in the form of cylinders at low pressure condition. It is employed as fuel and often transported through pipelines. It burns in a clean manner as it is free from Sulphur, making as an environment-friendly gas. Its applications include in steam generation, cooking gas, as raw material for ethylene production, propellant gas in aerosols, barbecue grills, portable heaters.

The primary driver of Liquified Petroleum Gas (LPG) global market is the Domestic sector. In 2022, approximately 44% of global Liquified Petroleum Gas (LPG) was utilized by the Domestic sector. LPG is utilized in this sector for preparing food on cooktops, heaters, and hot water systems. The global Liquified Petroleum Gas (LPG) market is anticipated to reach approximately 491 million tonnes by the forecast period.

Based on demand, the Asia Pacific is dominating the Liquified Petroleum Gas (LPG) market, with a market share of nearly 40% in 2022. It is anticipated that Asia Pacific will be most likely remain the biggest consumer. In the market of developing nations, LPG competes with conventional fuels including wood, charcoal, and coal for applications like cooking food and heating water which is anticipated to drive the future market of LPG in the forecast period. Europe is also prominent consumer of LPG wherein the majority of the LPG is utilized for as heating or boiling fuel, which is utilized by various industrial sectors. Asia Pacific also leads as the producer of LPG. Moreover, IRPC Refinery in Thailand is leading as the producer of LPG.

Based on the end-user industry, the global Liquified Petroleum Gas (LPG) market is segmented into Domestic, Industry, Transport, Refinery, Chemical, and Others. The Domestic sector is the dominating the Liquified Petroleum Gas (LPG) market. LPG is a versatile fuel and employed in the domestic sector for applications like space heating, water heating, cooking food, ovens, fireplaces, and other home appliances. Transport industry also holds prominent shares of the LPG industry. LPG is a clean fuel and one of the leading substitutes for gasoline and diesel in transportation sector. Black smoke, and Greenhouse gas emission from vehicles are all greatly improved by using LPG. Although, the Domestic Sector is anticipated to remain the largest consumer in the forecast period.

Major players in the production of Global Liquified Petroleum Gas (LPG) are IRPC Refinery, ExxonMobil, Indian Oil Corporation Limited, JXTG Nippon Oil & Energy, GASCO, Reliance Petroleum Limited, Bharat Petroleum Corporation Limited, and Saudi Aramco.

Years considered for this report:

Historical Period: 2015- 2022

Base Year: 2022

Estimated Year: 2023

Forecast Period: 2024-2035

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Objective of the Study:

• To assess the demand-supply scenario of Liquified Petroleum Gas (LPG) which covers production, demand and supply of Liquified Petroleum Gas (LPG) market in the globe.
• To analyse and forecast the market size of Liquified Petroleum Gas (LPG)
• To classify and forecast Global Liquified Petroleum Gas (LPG) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Liquified Petroleum Gas (LPG) market in the globe.

To extract data for Global Liquified Petroleum Gas (LPG) market, primary research surveys were conducted with Liquified Petroleum Gas (LPG) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Liquified Petroleum Gas (LPG) market over the coming years.

ChemAnalyst calculated Liquified Petroleum Gas (LPG) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Liquified Petroleum Gas (LPG) across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.

Key Target Audience:

• Liquified Petroleum Gas (LPG) manufacturers and other stakeholders
• Organizations, forums and alliances related to Liquified Petroleum Gas (LPG) s distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Liquified Petroleum Gas (LPG) s manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

Report Scope:

In this report, Global Liquified Petroleum Gas (LPG) s market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Attribute

Details

Market size Volume in 2022

320 million tonnes

Market size Volume by 2035

491 million tonnes

Growth Rate

CAGR of 3.40% from 2023 to 2035

Base year for estimation

2023

Historic Data

2015 – 2022

Forecast period

2024 – 2035

Quantitative units

Demand in million tonnes and CAGR from 2023 to 2035

Report coverage

Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, , Manufacturing Process.

Segments covered

By End-Use: (Domestic, Industry, Transport, Refinery, Chemical, and others)

By Sales Channel: (Direct Sale and Indirect Sale)

Regional scope

North America, Europe, Asia Pacific, Middle East and Africa, and South America.

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Please Note: This report will be delivered on an online digital platform with a one-year subscription and quarterly update. Due to data confidentiality, we do not sell ChemAnalyst portal to competitors and consulting companies.