Liquefied Petroleum Gas Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Source (Refinery, Associated Gas, Non-associated Gas), By Application (Residential, Commercial, Agriculture, Industrial, Transportation, Others), By Region, and By Competition 2018-2028

  • Industry : Oil and Gas
  • Pages : NA
  • Published Date : NA
Customization Enquiry

Buy Now

Summary

Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 131.81 Billion

CAGR (2023-2028)

3.99%

Fastest Growing Segment

Non-associated Gas

Largest Market

North America


Market Overview

The Global Liquefied Petroleum Gas (LPG) market is characterized by dynamic growth driven by diverse applications across various sectors. LPG, a versatile and clean-burning fuel, finds extensive use in residential, commercial, industrial, agricultural, and transportation segments. The residential sector, in particular, dominates consumption as LPG serves as a preferred choice for cooking and heating in households worldwide, offering efficiency and environmental advantages. In parallel, the commercial sector relies on LPG for a myriad of applications, including heating, cooking, and as a fuel source for businesses. The industrial and agricultural sectors utilize LPG for process heating, crop drying, and machinery operations, contributing to a multifaceted demand landscape. Moreover, LPG's role in transportation is noteworthy, with its application as an automotive fuel and in fleets, fostering cleaner and more sustainable mobility solutions. The market's growth is further propelled by infrastructure development, technological advancements, and government initiatives promoting cleaner energy sources. As LPG continues to be a pivotal player in the global energy mix, its versatile applications and environmentally friendly attributes position it as a key component in meeting the diverse energy needs of communities and industries worldwide.

 

Key Market Drivers

Increasing Residential and Commercial Applications:

A significant driver for the global LPG market is the increasing demand for residential and commercial applications. LPG is widely utilized for cooking, heating, and lighting in both urban and rural areas. Its convenience, cost-effectiveness, and cleaner combustion compared to traditional fuels have spurred adoption in households and commercial establishments. As urbanization and population growth continue globally, particularly in regions with limited access to natural gas, the demand for LPG in residential and commercial sectors is expected to escalate.

Growing Industrial Usage:

The industrial sector represents a substantial driver for the global LPG market. Industries use LPG as a versatile fuel for various processes, including manufacturing, metal cutting, and as a feedstock for petrochemical production. The flexibility of LPG applications in industrial settings, coupled with its relatively lower emissions compared to other fossil fuels, positions it as a preferred energy source. As industries seek cleaner and more efficient energy solutions, the demand for LPG in industrial processes is anticipated to rise, contributing to the overall market growth.

Expanding Automotive LPG Market:

The automotive sector is witnessing a growing trend towards LPG as an alternative fuel. LPG-powered vehicles offer lower emissions and cost advantages, making them an attractive option for environmentally conscious consumers and fleet operators. The conversion of traditional gasoline vehicles to run on LPG and the manufacturing of original equipment manufacturer (OEM) LPG vehicles contribute to the expansion of the automotive LPG market. Government incentives promoting cleaner fuels further drive the adoption of LPG in the transportation sector.

Rise in LPG as a Feedstock in Petrochemicals:

The petrochemical industry is increasingly relying on LPG as a feedstock for the production of various chemicals, including propylene and ethylene. The shale gas boom has led to an abundance of LPG as a byproduct of natural gas processing, making it an economically viable feedstock for petrochemical manufacturing. The growth of the petrochemical sector, particularly in regions with abundant shale gas resources, is a key driver influencing the demand for LPG as a raw material in the production of essential chemicals.

Global Trade Dynamics and Infrastructure Development:

The LPG market is significantly influenced by global trade dynamics and infrastructure development. LPG is transported and traded globally through maritime routes, and its pricing and availability are subject to geopolitical events and supply-demand factors. The development of robust infrastructure, including storage facilities, transportation networks, and distribution channels, is essential for ensuring a stable and efficient supply chain. Emerging economies investing in infrastructure development to meet the rising energy demand are expected to contribute to the growth of the global LPG market.


Download Free Sample Report

 

Key Market Challenges

Price Volatility and Sensitivity to External Factors:

One of the primary challenges confronting the LPG market is its susceptibility to price volatility. The prices of LPG are heavily influenced by global energy market dynamics, geopolitical events, and fluctuations in crude oil prices. As a result, market participants, including suppliers and consumers, are exposed to uncertainties in pricing, making it challenging to plan and manage budgets effectively. The interconnectedness of LPG with broader energy markets and geopolitical tensions underscores the need for stakeholders to employ robust risk management strategies.

Supply Chain Disruptions and Logistics Challenges:

The LPG market faces logistical challenges and potential disruptions in the supply chain. The transportation and distribution of LPG involve complex logistics, including shipping, storage, and local distribution networks. Natural disasters, geopolitical tensions, or infrastructure issues in key production or transit regions can lead to disruptions in the supply chain, affecting the availability and pricing of LPG globally. Developing resilient and diversified supply chain strategies becomes crucial for market participants to mitigate these challenges.

Regulatory Compliance and Safety Standards:

Regulatory compliance and adherence to safety standards pose significant challenges in the LPG market. Stringent regulations govern the handling, storage, and transportation of LPG due to its flammable nature. Compliance with safety standards is paramount to prevent accidents and ensure the well-being of workers and the public. Additionally, evolving environmental regulations aimed at reducing greenhouse gas emissions may impact the LPG market, necessitating adaptation by industry participants to remain in compliance and navigate changing regulatory landscapes.

Competing Energy Sources and Technological Shifts:

The LPG market faces competition from other energy sources, including natural gas, electricity, and renewable energy alternatives. The global push towards cleaner and more sustainable energy solutions poses a challenge for traditional fossil fuels like LPG. Technological advancements in energy storage, distribution, and renewable energy technologies may further alter the competitive landscape. Adapting to these shifts and finding ways to position LPG as a viable and sustainable energy source are essential challenges for the industry.

Consumer Perception and Awareness:

Consumer perception and awareness play a crucial role in shaping the demand for LPG. In some regions, there may be a lack of awareness about the benefits of LPG or misconceptions about its safety. Moreover, the growing emphasis on environmental sustainability is driving consumers towards cleaner energy alternatives. Addressing these challenges requires concerted efforts to educate consumers about the advantages of LPG, its safety measures, and its role as a transitional energy source towards a more sustainable future.

Key Market Trends

Growing Adoption for Residential Applications:

The global LPG market is experiencing a significant uptick in demand for residential applications. LPG is widely used for cooking, heating, and lighting in both urban and rural areas. This trend is particularly pronounced in regions where access to natural gas infrastructure is limited. The convenience, efficiency, and lower environmental impact of LPG compared to traditional fuels make it an attractive choice for household use.

Increasing Industrial Usage:

Industrial applications represent a substantial and expanding market for LPG. Industries utilize LPG as a fuel for various processes, including in manufacturing, metal cutting, and as an alternative fuel for industrial boilers. The versatility of LPG, along with its relatively lower emissions compared to other fossil fuels, positions it as a preferred energy source for a range of industrial processes.

Rising Demand in the Automotive Sector:

The automotive sector is witnessing a growing trend towards the use of LPG as an alternative fuel. LPG is increasingly being adopted as an automotive fuel due to its lower greenhouse gas emissions and cost advantages. The conversion of traditional gasoline vehicles to run on LPG, as well as the manufacturing of LPG-powered vehicles by automakers, are contributing to the expansion of LPG usage in the transportation sector.

Emergence of BioLPG:

With an increasing emphasis on sustainability and renewable energy sources, the LPG market is witnessing the emergence of BioLPG. BioLPG is a renewable alternative to conventional LPG, derived from biomass feedstocks. Its production reduces reliance on fossil fuels and contributes to a lower carbon footprint. The growing interest in BioLPG aligns with global efforts to transition towards more environmentally friendly energy solutions.

International Trade Dynamics:

The global LPG market is characterized by dynamic international trade dynamics. LPG is transported and traded globally through maritime routes, and its pricing and availability are influenced by geopolitical factors, supply-demand dynamics, and regional regulatory frameworks. The market trends in LPG are, to a significant extent, shaped by the interplay of these global trade factors, making it essential for stakeholders to closely monitor geopolitical developments and market fundamentals.


Segmental Insights

Source Insights

Associated gas segment dominates in the global liquefied petroleum gas market in 2022. Associated Gas, often referred to as associated petroleum gas or solution gas, is a natural byproduct of crude oil extraction. As oil reservoirs are tapped to retrieve crude oil, the simultaneous extraction of natural gas occurs, containing valuable constituents such as propane and butane—essential components of LPG. The close association of LPG with crude oil production positions Associated Gas as a major source, particularly in regions with extensive oil exploration and extraction activities.

The dominance of Associated Gas is significantly evident in oil-producing regions, where prolific oilfields yield substantial quantities of LPG. Countries in the Middle East, North America, and parts of Asia leverage their extensive oil reserves to extract and refine LPG from Associated Gas. This association creates an economically advantageous scenario, as the extraction of LPG becomes an integral part of the overall oil production process.

The refinery segment, while contributing significantly to LPG production, is often intertwined with the production of other refined petroleum products. Refineries process crude oil to obtain a range of products, and LPG is a valuable byproduct in this intricate refining process. However, the dominance of Associated Gas is underscored by its direct correlation with crude oil extraction, making it an intrinsic and often abundant source of LPG.

Application Insights

Residential segment dominates in the global liquefied petroleum gas market in 2022. The Residential sector emerges as the dominant force in the global LPG market, driven by the versatile and convenient nature of LPG applications within households. LPG serves as a clean-burning and efficient energy source for cooking, offering a viable alternative to traditional fuels like wood, coal, and kerosene. The ease of use, quick ignition, and precise temperature control provided by LPG make it a preferred choice for millions of households worldwide.

In many regions, particularly in developing economies, the Residential segment dominates as LPG becomes the fuel of choice for urban and rural households alike. The transition from traditional biomass fuels to LPG enhances both safety and environmental sustainability, addressing concerns related to indoor air pollution and deforestation. Government initiatives promoting clean cooking solutions further propel the adoption of LPG in residential settings.

Furthermore, the versatility of LPG extends beyond cooking to residential heating applications, space heating, and water heating. As a reliable and energy-efficient source, LPG meets the diverse needs of households across climates, contributing to its dominance in the Residential segment.

While other sectors such as Commercial, Agriculture, Industrial, and Transportation play crucial roles in LPG consumption, the sheer magnitude of households globally places the Residential segment at the forefront. The demand for LPG in the Residential sector is underpinned by the growing global population, urbanization trends, and the desire for improved living standards.


Download Free Sample Report

Regional Insights

North America dominates the global liquefied petroleum gas market in 2022. Firstly, the United States has experienced a significant surge in LPG production, primarily driven by the shale gas revolution. The extraction of natural gas from shale formations, particularly in regions like the Marcellus and Utica, has led to an abundant supply of LPG as a byproduct. The rise in shale gas production has positioned the United States as a key player in LPG markets, not only meeting domestic demand but also contributing to its status as a major LPG exporter.

Secondly, the growth of the petrochemical industry in North America has fueled the demand for LPG as a feedstock. LPG serves as a crucial raw material for the production of various petrochemicals, including ethylene and propylene. The region's robust petrochemical infrastructure, coupled with the availability of ample LPG feedstock, has enhanced the competitiveness of North American industries in the global market.

Moreover, North America has established itself as a key player in LPG export markets. The strategic development of export terminals and infrastructure has facilitated the efficient movement of LPG to international markets. This has been particularly significant in meeting the rising demand for LPG in regions like Asia, where countries rely on imports to meet their energy needs.

Government policies and regulatory frameworks supporting the growth of the energy sector, including the extraction and utilization of shale gas resources, have also played a pivotal role in North America's dominance. Pro-business policies and advancements in drilling technologies have facilitated the economic extraction of LPG, reinforcing the region's position in the global market.

 

Recent Developments

  • June 2021- Astomos Energy Corporation signed an agreement with Shell International Eastern Trading Company (Shell) to purchase a carbon-neutral liquefied petroleum gas cargo for delivery in Japan. The large gas carrier (VLGC)-size LPG cargo is the world’s first carbon-neutral LPG. According to Shell, the CO₂e lifecycle emissions of this product have been offset with verified nature-based carbon credits. In this agreement, credits from Shell’s global portfolio of nature-based projects will be used to offset lifecycle CO2e emissions generated across the value chain from production to consumption (combustion), including transportation. The company’s nature-based projects protect, transform or restore land and enable nature to add oxygen and absorb CO2 emissions from the atmosphere.
  • March 2021- Abu Dhabi National Oil Company (ADNOC) signed an agreement to supply Indonesian national oil company Pertamina with liquefied petroleum gas and sulfur in a four-year deal worth around USD 2 billion. As part of the Indonesia-Emirates “Amazing Week 2021” the LPG and sulfur sales contract will last for 4 years with an annual contract value of around USD 500 million. The agreement also included the condition that the amount may change following fluctuations in the price of these commodities on the global market.

 

Key Market Players

  • Royal Dutch Shell plc
  • ExxonMobil Corporation
  • China National Petroleum Corporation
  • BP plc
  • Reliance Industries Limited
  • Indian Oil Corporation Limited
  • TotalEnergies S.E.
  • ADNOC
  • Sinopec Corp.
  • Gasprom PJSC

By Source

By Application

By Region
  • Refinery
  • Associated Gas
  • Non-associated Gas
  • Residential
  • Commercial
  • Agriculture
  • Industrial
  • Transportation
  • Others
  • North America
  • Europe
  • South America
  • Middle East & Africa
  • Asia Pacific

 

Report Scope:

In this report, the Global Liquefied Petroleum Gas Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Liquefied Petroleum Gas Market, By Source:

o   Refinery

o   Associated Gas

o   Non-associated Gas

  • Liquefied Petroleum Gas Market, By Application:

o   Residential

o   Commercial

o   Agriculture

o   Industrial

o   Transportation

o   Others

  • Liquefied Petroleum Gas Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  Germany

§  France

§  United Kingdom

§  Italy

§  Spain

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Asia-Pacific

§  China

§  India

§  Japan

§  South Korea

§  Australia

o   Middle East & Africa

§  Saudi Arabia

§  UAE

§  South Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Liquefied Petroleum Gas Market.

Available Customizations:

Global Liquefied Petroleum Gas Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Liquefied Petroleum Gas Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Service Overview

1.1.    Market Definition

1.2.    Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.    Baseline Methodology

2.2.    Key Industry Partners

2.3.    Major Association and Secondary Sources

2.4.    Forecasting Methodology

2.5.    Data Triangulation & Validation

2.6.    Assumptions and Limitations

3.    Executive Summary

4.    Impact of COVID-19 on Global Liquefied Petroleum Gas Market

5.    Voice of Customer

6.    Global Liquefied Petroleum Gas Market Overview

7.    Global Liquefied Petroleum Gas Market Outlook

7.1.    Market Size & Forecast

7.1.1.    By Value

7.2.    Market Share & Forecast

7.2.1.  By Source (Refinery, Associated Gas, Non-associated Gas)

7.2.2.  By Application (Residential, Commercial, Agriculture, Industrial, Transportation, Others)

7.2.3.  By Region (North America, Europe, South America, Middle East & Africa, Asia Pacific)

7.3.    By Company (2022)

7.4.    Market Map

8.    North America Liquefied Petroleum Gas Market Outlook

8.1.    Market Size & Forecast

8.1.1.    By Value

8.2.    Market Share & Forecast

8.2.1.    By Source

8.2.2.    By Application

8.2.3.    By Country

8.2.3.1.        United States Liquefied Petroleum Gas Market Outlook

8.2.3.1.1.        Market Size & Forecast

8.2.3.1.1.1.    By Value

8.2.3.1.2.        Market Share & Forecast

8.2.3.1.2.1.               By Source

8.2.3.1.2.2.               By Application

8.2.3.2.        Canada Liquefied Petroleum Gas Market Outlook

8.2.3.2.1.        Market Size & Forecast

8.2.3.2.1.1.    By Value

8.2.3.2.2.        Market Share & Forecast

8.2.3.2.2.1.               By Source

8.2.3.2.2.2.               By Application

8.2.3.3.        Mexico Liquefied Petroleum Gas Market Outlook

8.2.3.3.1.        Market Size & Forecast

8.2.3.3.1.1.    By Value

8.2.3.3.2.        Market Share & Forecast

8.2.3.3.2.1.               By Source

8.2.3.3.2.2.               By Application

9.    Europe Liquefied Petroleum Gas Market Outlook

9.1.    Market Size & Forecast

9.1.1.  By Value

9.2.    Market Share & Forecast

9.2.1.    By Source

9.2.2.    By Application

9.2.3.    By Country

9.2.3.1.        Germany Liquefied Petroleum Gas Market Outlook

9.2.3.1.1.        Market Size & Forecast

9.2.3.1.1.1.    By Value

9.2.3.1.2.        Market Share & Forecast

9.2.3.1.2.1.               By Source

9.2.3.1.2.2.               By Application

9.2.3.2.        France Liquefied Petroleum Gas Market Outlook

9.2.3.2.1.        Market Size & Forecast

9.2.3.2.1.1.    By Value

9.2.3.2.2.        Market Share & Forecast

9.2.3.2.2.1.               By Source

9.2.3.2.2.2.               By Application

9.2.3.3.        United Kingdom Liquefied Petroleum Gas Market Outlook

9.2.3.3.1.        Market Size & Forecast

9.2.3.3.1.1.    By Value

9.2.3.3.2.        Market Share & Forecast

9.2.3.3.2.1.               By Source

9.2.3.3.2.2.               By Application

9.2.3.4.        Italy Liquefied Petroleum Gas Market Outlook

9.2.3.4.1.        Market Size & Forecast

9.2.3.4.1.1.    By Value

9.2.3.4.2.        Market Share & Forecast

9.2.3.4.2.1.               By Source

9.2.3.4.2.2.               By Application

9.2.3.5.        Spain Liquefied Petroleum Gas Market Outlook

9.2.3.5.1.        Market Size & Forecast

9.2.3.5.1.1.    By Value

9.2.3.5.2.        Market Share & Forecast

9.2.3.5.2.1.               By Source

9.2.3.5.2.2.               By Application

10. South America Liquefied Petroleum Gas Market Outlook

10.1. Market Size & Forecast

10.1.1.    By Value

10.2. Market Share & Forecast

10.2.1. By Source

10.2.2. By Application

10.2.3. By Country

10.2.3.1.     Brazil Liquefied Petroleum Gas Market Outlook

10.2.3.1.1.   Market Size & Forecast

10.2.3.1.1.1.             By Value

10.2.3.1.2.   Market Share & Forecast

10.2.3.1.2.1.            By Source

10.2.3.1.2.2.            By Application

10.2.3.2.     Colombia Liquefied Petroleum Gas Market Outlook

10.2.3.2.1.   Market Size & Forecast

10.2.3.2.1.1.             By Value

10.2.3.2.2.   Market Share & Forecast

10.2.3.2.2.1.            By Source

10.2.3.2.2.2.            By Application

10.2.3.3.     Argentina Liquefied Petroleum Gas Market Outlook

10.2.3.3.1.   Market Size & Forecast

10.2.3.3.1.1.             By Value

10.2.3.3.2.   Market Share & Forecast

10.2.3.3.2.1.            By Source

10.2.3.3.2.2.            By Application

11. Middle East & Africa Liquefied Petroleum Gas Market Outlook

11.1. Market Size & Forecast

11.1.1.    By Value

11.2. Market Share & Forecast

11.2.1. By Source

11.2.2. By Application

11.2.3. By Country

11.2.3.1.     Saudi Arabia Liquefied Petroleum Gas Market Outlook

11.2.3.1.1.   Market Size & Forecast

11.2.3.1.1.1.             By Value

11.2.3.1.2.   Market Share & Forecast

11.2.3.1.2.1.            By Source

11.2.3.1.2.2.            By Application

11.2.3.2.     UAE Liquefied Petroleum Gas Market Outlook

11.2.3.2.1.   Market Size & Forecast

11.2.3.2.1.1.             By Value

11.2.3.2.2.   Market Share & Forecast

11.2.3.2.2.1.            By Source

11.2.3.2.2.2.            By Application

11.2.3.3.     South Africa Liquefied Petroleum Gas Market Outlook

11.2.3.3.1.   Market Size & Forecast

11.2.3.3.1.1.             By Value

11.2.3.3.2.   Market Share & Forecast

11.2.3.3.2.1.            By Source

11.2.3.3.2.2.            By Application

12. Asia Pacific Liquefied Petroleum Gas Market Outlook

12.1. Market Size & Forecast

12.1.1.    By Value

12.2. Market Size & Forecast

12.2.1. By Source

12.2.2. By Application

12.2.3. By Country

12.2.3.1.     China Liquefied Petroleum Gas Market Outlook

12.2.3.1.1.   Market Size & Forecast

12.2.3.1.1.1.             By Value

12.2.3.1.2.   Market Share & Forecast

12.2.3.1.2.1.            By Source

12.2.3.1.2.2.            By Application

12.2.3.2.     India Liquefied Petroleum Gas Market Outlook

12.2.3.2.1.   Market Size & Forecast

12.2.3.2.1.1.             By Value

12.2.3.2.2.   Market Share & Forecast

12.2.3.2.2.1.            By Source

12.2.3.2.2.2.            By Application

12.2.3.3.     Japan Liquefied Petroleum Gas Market Outlook

12.2.3.3.1.   Market Size & Forecast

12.2.3.3.1.1.             By Value

12.2.3.3.2.   Market Share & Forecast

12.2.3.3.2.1.            By Source

12.2.3.3.2.2.            By Application

12.2.3.4.     South Korea Liquefied Petroleum Gas Market Outlook

12.2.3.4.1.   Market Size & Forecast

12.2.3.4.1.1.  By Value

12.2.3.4.2.   Market Share & Forecast

12.2.3.4.2.1.            By Source

12.2.3.4.2.2.            By Application

12.2.3.5.     Australia Liquefied Petroleum Gas Market Outlook

12.2.3.5.1.   Market Size & Forecast

12.2.3.5.1.1.             By Value

12.2.3.5.2.   Market Share & Forecast

12.2.3.5.2.1.            By Source

12.2.3.5.2.2.            By Application

13. Market Dynamics

13.1.   Drivers

13.2.   Challenges

14. Market Trends and Developments

15. Company Profiles

15.1.   Royal Dutch Shell plc

15.1.1.        Business Overview

15.1.2.        Key Revenue and Financials  

15.1.3.        Recent Developments

15.1.4.        Key Personnel

15.1.5.        Key Product/Services Offered

15.2.   ExxonMobil Corporation

15.2.1.        Business Overview

15.2.2.        Key Revenue and Financials  

15.2.3.        Recent Developments

15.2.4.        Key Personnel

15.2.5.        Key Product/Services Offered

15.3.   China National Petroleum Corporation

15.3.1.        Business Overview

15.3.2.        Key Revenue and Financials  

15.3.3.        Recent Developments

15.3.4.        Key Personnel

15.3.5.        Key Product/Services Offered

15.4.   BP plc

15.4.1.        Business Overview

15.4.2.        Key Revenue and Financials  

15.4.3.        Recent Developments

15.4.4.        Key Personnel

15.4.5.        Key Product/Services Offered

15.5.   Reliance Industries Limited

15.5.1.        Business Overview

15.5.2.        Key Revenue and Financials  

15.5.3.        Recent Developments

15.5.4.        Key Personnel

15.5.5.        Key Product/Services Offered

15.6.   Indian Oil Corporation Limited

15.6.1.        Business Overview

15.6.2.        Key Revenue and Financials  

15.6.3.        Recent Developments

15.6.4.        Key Personnel

15.6.5.        Key Product/Services Offered

15.7.   TotalEnergies S.E.

15.7.1.        Business Overview

15.7.2.        Key Revenue and Financials  

15.7.3.        Recent Developments

15.7.4.        Key Personnel

15.7.5.        Key Product/Services Offered

15.8.   ADNOC

15.8.1.        Business Overview

15.8.2.        Key Revenue and Financials  

15.8.3.        Recent Developments

15.8.4.        Key Personnel

15.8.5.        Key Product/Services Offered

15.9.   Sinopec Corp.

15.9.1.        Business Overview

15.9.2.        Key Revenue and Financials  

15.9.3.        Recent Developments

15.9.4.        Key Personnel

15.9.5.        Key Product/Services Offered

15.10.Gasprom PJSC

15.10.1.     Business Overview

15.10.2.     Key Revenue and Financials  

15.10.3.     Recent Developments

15.10.4.     Key Personnel

15.10.5.     Key Product/Services Offered

16. Strategic Recommendations

17. About Us & Disclaimer

Figures and Tables

Frequently asked questions

down-arrow

The market size of the global liquefied petroleum gas market was USD 131.81 Billion in 2022.

down-arrow

Associated Gas was the dominant segment in the global liquefied petroleum gas market in 2022 by source.

down-arrow

The challenges in the global liquefied petroleum gas market include price volatility and sensitivity to external factors, supply chain disruptions and logistics challenges, regulatory compliance and safety standards, competing energy sources and technological shifts, etc.

down-arrow

The major drivers for the global liquefied petroleum gas market include increasing residential and commercial applications, growing industrial usage, expanding automotive LPG market, rise in LPG as a feedstock in petrochemicals, etc.

Related Reports

profile

Parvati Sharma

Account Manager BD
Press Release

Liquefied Petroleum Gas Market Expands with Associated Gas Segment at a robust CAGR of 3.99%

Nov, 2023

The increasing global liquefied petroleum gas market is driven by increasing residential and commercial applications, growing industrial usage during the forecast period 2024-2028

Why Choose Us