LPG Market Size, Share, Development, Growth and Demand Forecast to 2020

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  • GLOBAL INDUSTRY INSIGHT: LPG Market Size, Share, Development, Growth and Demand Forecast to

    2020

  • P&S Market Research. All rights reserved 2

    Global LPG Market Size, Share, Development, Growth and

    Demand Forecast to 2020

    Some of the drivers behind the growing demand of global LPG market include increasing consumption of

    autogas, and large semi-urban and rural populations in Africa, Latin America and Asia-Pacific, using cheap and

    easily available LPG as a cooking fuel. However, volatility in crude oil prices leading to LPG price uncertainty is

    expected to hamper the growth of global LPG market.

    Explore More About Global LPG Market at: https://www.psmarketresearch.com/market-analysis/lpg-market

    Liquefied Petroleum Gas (LPG) is also known as propane or butane. LPG is flammable in nature and mixture of

    hydrocarbon gases. The boiling point of LPG is below room temperature, and it could be easily evaporated at

    normal temperature and pressure. LPG is commonly imparted in pressurized steel vessels. They are usually filled

    up to 80 85% of their capacity to permit for thermal expansion of the contained liquid. LPG is produced by

    petroleum refining, and is mainly obtained from fossil fuel sources, manufactured during the petroleum refining

    (crude oil), or obtained from petroleum or natural gas streams, as they come out from the ground. It is commonly

    used as fuel in cooking equipment, heating appliances, and vehicles. Moreover, it is increasingly used as a

    refrigerant and an aerosol propellant, in the place of chlorofluorocarbon, in order to reduce damage to the ozone

    layer.

    Based on source, the global LPG market can be segmented into refineries, associated gas, and non-associated

    gas. LPG prepared through crude oil refining accounted for around 40% of the global LPG production in 2014.

    The non-associated gas segment is expected to contribute to the maximum LPG production, during the forecast

    period. In 2014, Middle East is the largest producer of LPG globally, and is expected to contribute high LPG

    production volume. Though, a large volume of LPG produced is expected to be captively consumed by large

    petrochemical complexes coming up in the region. In the last three years, the U.S. is witnessing a shale gas

    boom in the country, and has emerged as a net exporter of LPG. A majority of the surplus LPG production from

    the U.S. is likely to be routed to Latin American countries, where there is an increasing demand for LPG from the

    domestic and commercial sector.

    Based on application, the global LPG market can be segmented into residential and commercial, industrial,

    petrochemical and refinery, transportation, and others. The major applications area of LPG is residential and

    commercial, and accounted for the largest application segment of the global LPG market, in 2014, and is

    commonly used as a cooking fuel. The dependency on LPG as a cooking fuel among the rural and urban

    populations is very high. Some of the major markets for LPG consumptions are Asia-Pacific and Latin-America,

    due to the large semi-urban and rural populations. Moreover, Africa is an attractive market for LPG, where around

    88% of the LPG consumption is by the residential segment. Transportation was one of the fastest growing

    application segments in the global LPG market in 2014, due to the increasing adoption of LPG as a transportation

    fuel globally, especially in Europe. In the recent past, countries such as Germany, Poland, and Turkey have been

    https://www.psmarketresearch.com/market-analysis/lpg-markethttps://www.psmarketresearch.com/market-analysis/lpg-market

  • P&S Market Research. All rights reserved 3

    Global LPG Market Size, Share, Development, Growth and

    Demand Forecast to 2020

    increasingly adding to their autogas fleet. Countries such as South Korea and Japan are also major adopters of

    autogas in the Asia-Pacific.

    Geographically, Asia-Pacific was the largest market for LPG in 2014. Countries, such as India and China

    accounted for a significant portion of the LPG consumption in Asia-Pacific. The major factor behind the growth in

    demand for LPG consumption is large rural population in Asia-Pacific. In addition, the same scenario can be

    observed in Africa and Latin American Countries.

    Browse related market research at: https://www.psmarketresearch.com/industry-report/chemicals-materials-

    and-energy

    Some of the major competitors in the global LPG market include Exxon Mobil Corporation, UGI Corporation,

    British Petroleum PLC, Royal Dutch Shell PLC, SHV Energy N.V., Copagaz Distribuidora De Gas Ltda, Repsol

    S.A., China Gas Holdings Limited and Kleenheat Gas Pty Limited.

    Report coverage

    Global LPG Market, By Source

    Refineries

    Associated Gas

    Non-associated Gas

    Global LPG Market, By Application

    Residential and Commercial

    Industrial

    Transportation

    Petrochemical and Refinery

    Others

    Global LPG Market, By Geography

    North America

    Central and Western Europe

    https://www.psmarketresearch.com/industry-report/chemicals-materials-and-energyhttps://www.psmarketresearch.com/industry-report/chemicals-materials-and-energy

  • P&S Market Research. All rights reserved 4

    Global LPG Market Size, Share, Development, Growth and

    Demand Forecast to 2020

    Asia-Pacific

    Latin America

    Middle East and Africa

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