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:
Objective of the Study:
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:
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.
Pricing and purchase options
Avail customized purchase options to meet your exact research needs. Explore purchase options
Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
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
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.
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
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.
Pricing and purchase options
Avail customized purchase options to meet your exact research needs. Explore purchase options
Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
1. INDUSTRY MARKET SIZE
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Liquified Petroleum Gas (LPG) market in terms of value and volume.
2. CAPACITY BY COMPANY
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Liquified Petroleum Gas (LPG).
3. CAPACITY BY LOCATION
To better understand the regional supply of Liquified Petroleum Gas (LPG) by analyzing its manufacturers' location-based capacity.
4. PLANT OPERATING EFFICIENCY
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. PRODUCTION BY COMPANY [QUARTERLY UPDATE]
Study the historical annual production of Liquified Petroleum Gas (LPG) by the leading players and forecast how it will grow in the coming years.
6. DEMAND BY END- USE [QUARTERLY UPDATE]
Discover which end-user industry (Domestic, Industry, Transport, Refinery, Chemical, and others) are creating a market and the forecast for the growth of the Liquified Petroleum Gas (LPG) market.
7. DEMAND BY REGION
Analyzing the change in demand of Liquified Petroleum Gas (LPG) in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. DEMAND BY SALES CHANNEL (DIRECT AND INDIRECT)
Multiple channels are used to sell Liquified Petroleum Gas (LPG). Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. DEMAND-SUPPLY GAP
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Liquified Petroleum Gas (LPG).
10. COMPANY SHARE
Figure out what proportion of the market share of Liquified Petroleum Gas (LPG) is currently held by leading players across the globe.
11. COUNTRY-WISE EXPORT
Get details about quantity of Liquified Petroleum Gas (LPG) exported by major countries.
12. COUNTRY-WISE IMPORT
Get details about quantity of Liquified Petroleum Gas (LPG) imported by major countries.
13. MANUFACTURING PROCESS
Discover insights into the intricate manufacturing process of Liquified Petroleum Gas (LPG).
14. PRICING ANALYSIS & FORECAST
Analyze historical prices since 2015 & Forecast on three months rolling period for next 12 months.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Liquified Petroleum Gas (LPG) market in terms of value and volume.
2. CAPACITY BY COMPANY
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Liquified Petroleum Gas (LPG).
3. CAPACITY BY LOCATION
To better understand the regional supply of Liquified Petroleum Gas (LPG) by analyzing its manufacturers' location-based capacity.
4. PLANT OPERATING EFFICIENCY
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. PRODUCTION BY COMPANY [QUARTERLY UPDATE]
Study the historical annual production of Liquified Petroleum Gas (LPG) by the leading players and forecast how it will grow in the coming years.
6. DEMAND BY END- USE [QUARTERLY UPDATE]
Discover which end-user industry (Domestic, Industry, Transport, Refinery, Chemical, and others) are creating a market and the forecast for the growth of the Liquified Petroleum Gas (LPG) market.
7. DEMAND BY REGION
Analyzing the change in demand of Liquified Petroleum Gas (LPG) in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. DEMAND BY SALES CHANNEL (DIRECT AND INDIRECT)
Multiple channels are used to sell Liquified Petroleum Gas (LPG). Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. DEMAND-SUPPLY GAP
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Liquified Petroleum Gas (LPG).
10. COMPANY SHARE
Figure out what proportion of the market share of Liquified Petroleum Gas (LPG) is currently held by leading players across the globe.
11. COUNTRY-WISE EXPORT
Get details about quantity of Liquified Petroleum Gas (LPG) exported by major countries.
12. COUNTRY-WISE IMPORT
Get details about quantity of Liquified Petroleum Gas (LPG) imported by major countries.
13. MANUFACTURING PROCESS
Discover insights into the intricate manufacturing process of Liquified Petroleum Gas (LPG).
14. PRICING ANALYSIS & FORECAST
Analyze historical prices since 2015 & Forecast on three months rolling period for next 12 months.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
