The Liquefied Petroleum Gas Market size was valued at USD 117.4 billion in 2022 and is expected to grow to USD 158.21 billion by 2030 and grow at a CAGR of 3.8 % over the forecast period of 2023-2030.
By absorbing "wet" natural gas (gas with condensable heavy petroleum components), liquefied petroleum gas (LPG) is produced. Because the recovered product has a low boiling point, the lighter must be removed by distillation.
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Any of various liquid mixes of the volatile hydrocarbons propene, propane, butene, and butane is known as liquefied petroleum gas (LPG), sometimes known as LP gas. Its usage as a portable fuel source dates back to 1860, and its ion for both private and business usage has increased both production and or eternity. In a typical industrial combination, ethane, ethylene, and a pungent odorant called mercaptan may also be present safety measure.
Although olefins often make up a sizable portion of liquefied petroleum gas, which is mostly propane, they significantly raise its reactivity. For instance, LPG in Mexico City has about 5% more alkenes than LPG in the Los Angeles region, which has roughly 2 mol% (Blake and Rowland, 1995), while it is significantly more reactive than petrol the precise improvement depends greatly on the types and amounts of these reactive contaminants.
KEY DRIVERS:
Growing utilization of LPG in Transportation
Expanding Government LPG Adoption Initiatives
The use of LP gas has been expanding internationally across several industries as GHG emissions reduction and guaranteeing sustainable energy for everyone have come under more and more scrutiny. The government has made major contributions in the form of programmes and subsidies to accelerate the use of LP gas. Through their "PAHAL" plan, which deposits subsidies directly into customers' bank accounts, the Indian government's initiatives more efficiently target subsidies.
RESTRAIN:
Growth Will Be Slowed by Emphasising Zero Carbon Emission, Clean Renewable Energy, and Biofuels
OPPORTUNITY:
Growing demand for Autogas
Rising Emphasis on utilization of BioLPG
Propane generated from renewable feedstocks such plant and vegetable waste are known as bioLPG, renewable propane, or bio propane. Therefore, bioLPG is a fuel that burns cleanly and has no effect on air quality. It is also a low-carbon option to switching from oil and coal in the business sector and has a long-term place in the energy mix.
CHALLENGES:
Blockades in the Supply Chain Hurt the Growth of the Global LPG
Developments in Internet of Things (IoT).
The usage of LP gas increases globally, with the majority of that consumption going towards heating houses and providing hot water for cooking. In the home market of developing nations, LP gas competes with conventional fuels including wood, charcoal, and coal. Because customers' disposable incomes are constrained, these conventional fuels are frequently offered to them in modest quantities. It might be difficult to introduce LPG to these users because of this sectional barrier. Smaller amounts of petrol may be offered to consumers thanks to the business models being developed by the Internet of Things (IoT).
IMPACT OF RUSSIAN UKRAINE WAR
Energy-related payments are now exempt from financial sanctions imposed on Russia by the US, EU, UK, and others, which should allow ongoing flows on existing contracts, but a lot of global trade firms are avoiding doing new business with Russia. LPG shipments from the Baltic and Black Seas have steadily decreased as local petrochemical usage increased. From 3.5 MMt/y, Russian seaborne exports were about 1 MMt/y in 2021. Exports were expected to rise to 1.5 MMt/y in 2022 along with increased gas output before the conflict, but the future of that expansion is now questionable. The Baltic Sea accounts for over 75% of Russia's exports of LPG via sea. The Mediterranean and Eastern Europe each receive roughly 30% of it, with two thirds going to Northwest Europe. Due of the tiny total amounts, it looks that Europe will be the region to have the most impact.
By Source
Refinery
Associated Gas
Non-Associated Gas
By Application
Residential/Commercial
Chemical
Industrial
Autogas
Refinery
Others
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Asia Pacific is the region with the greatest market for LP gas, because LP gas is so widely used as a major fuel for cooking and water heating in households. There are plenty of supplies of LP gas, and forecasting data indicates that, barring a significant political upheaval, prices will remain low for an extended period of time. The chemical industry has experienced phenomenal expansion.
The second-largest market for LP gas is still Europe, which also continues to be a regional powerhouse. However, compared to the more established markets in the northwest and south of Europe, central and eastern Europe has seen a lot more development in recent years. The main fuel for off-grid heating in Europe is LP gas. Statistics are starting to demonstrate that some businesses, particularly in the light industrial sector, may be making the conversion to LP gas.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Maire Tecnimont S.p.A. declared in October 2022 that its main subsidiary, Tecnimont S.p.A., had been given an EPC contract by SONATRACH's Direction Centrale Engineering & Project Management for the construction of an LPG extraction plant inside the already-existing Rhourde El Baguel oil and gas treatment complex in northeastern Algeria. In total, the deal is around around 380 million USD.
Indian Oil Corp. (IOC) announced plans to build three additional facilities in Northeast India in February 2022, increasing its capacity to bottle LPG by roughly 53%, or to 8 crore cylinders annually by 2030, in order to fulfil the region's rising demand. The Between USD 43 and USD 46 million will likely be invested overall in the facility development.
The four-year, about USD $2 billion deal was signed in March 2021 by the Abu Dhabi National Oil Company (ADNOC) and Pertamina, the national oil company of Indonesia. The LPG and sulphur sales deal, which is a component of the Indonesia-Emirates "Amazing Week 2021," will endure for 4 years and have an annual contract value of about USD 500 million. The agreement also stipulated that the sum can alter in response to shifts in the value of certain goods on the world market.
China Gas Holdings Ltd., Saudi Arabian Oil Co., FLAGA Gmbh, Kleenheat, Bharat Petroleum Corporation Limited, JGC HOLDINGS CORPORATION, Phillips 66 Company, Chevron Corporation, Reliance Industries Limited, Exxon Mobil Corporation, Total, Royal Dutch Shell, and other players are listed in a final report.
| Report Attributes | Details |
| Market Size in 2022 | US$ 117.4 Bn |
| Market Size by 2030 | US$ 158.21 Bn |
| CAGR | CAGR of 3.8 % From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Source (Refinery, Associated Gas, Non-Associated Gas) • By Application (Residential/Commercial, Chemical, Industrial, Autogas, Refinery, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | China Gas Holdings Ltd., Saudi Arabian Oil Co., FLAGA Gmbh, Kleenheat, Bharat Petroleum Corporation Limited, JGC HOLDINGS CORPORATION, Phillips 66 Company, Chevron Corporation, Reliance Industries Limited, Exxon Mobil Corporation, Total, Royal Dutch Shell |
| Key Drivers | • Growing utilization of LPG in Transportation • Expanding Government LPG Adoption Initiatives |
| Market Restraints | • Growth Will Be Slowed by Emphasising Zero Carbon Emission, Clean Renewable Energy, and Biofuels |
Ans: Liquefied Petroleum Gas Market is anticipated to expand by 3.8 % from 2023 to 2030.
Ans: USD 158.21 billion is expected to grow by 2030.
Ans: Liquefied Petroleum Gas Market size was valued at USD 117.4 billion in 2022
Ans: Growing demand for Autogas and Rising Emphasis on utilization of BioLPG.
Ans: Asia Pacific region is dominating the market.
TABLE OF CONTENT
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Liquefied Petroleum Gas Market Segmentation, By Source
8.1 Refinery
8.2 Associated Gas
8.3 Non-Associated Gas
9. Liquefied Petroleum Gas Market Segmentation, By Application
9.1 Residential/Commercial
9.2 Chemical
9.3 Industrial
9.4 Autogas
9.5 Refinery
9.6 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Liquefied Petroleum Gas Market by Country
10.2.2North America Liquefied Petroleum Gas Market by Source
10.2.3 North America Liquefied Petroleum Gas Market by Application
10.2.4 USA
10.2.4.1 USA Liquefied Petroleum Gas Market by Source
10.2.4.2 USA Liquefied Petroleum Gas Market by Application
10.2.5 Canada
10.2.5.1 Canada Liquefied Petroleum Gas Market by Source
10.2.5.2 Canada Liquefied Petroleum Gas Market by Application
10.2.6 Mexico
10.2.6.1 Mexico Liquefied Petroleum Gas Market by Source
10.2.6.2 Mexico Liquefied Petroleum Gas Market by Application
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Liquefied Petroleum Gas Market by Country
10.3.1.2 Eastern Europe Liquefied Petroleum Gas Market by Source
10.3.1.3 Eastern Europe Liquefied Petroleum Gas Market by Application
10.3.1.4 Poland
10.3.1.4.1 Poland Liquefied Petroleum Gas Market by Source
10.3.1.4.2 Poland Liquefied Petroleum Gas Market by Application
10.3.1.5 Romania
10.3.1.5.1 Romania Liquefied Petroleum Gas Market by Source
10.3.1.5.2 Romania Liquefied Petroleum Gas Market by Application
10.3.1.6 Hungary
10.3.1.6.1 Hungary Liquefied Petroleum Gas Market by Source
10.3.1.6.2 Hungary Liquefied Petroleum Gas Market by Application
10.3.1.7 Turkey
10.3.1.7.1 Turkey Liquefied Petroleum Gas Market by Source
10.3.1.7.2 Turkey Liquefied Petroleum Gas Market by Application
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Liquefied Petroleum Gas Market by Source
10.3.1.8.2 Rest of Eastern Europe Liquefied Petroleum Gas Market by Application
10.3.2 Western Europe
10.3.2.1 Western Europe Liquefied Petroleum Gas Market by Country
10.3.2.2 Western Europe Liquefied Petroleum Gas Market by Source
10.3.2.3 Western Europe Liquefied Petroleum Gas Market by Application
10.3.2.4 Germany
10.3.2.4.1 Germany Liquefied Petroleum Gas Market by Source
10.3.2.4.2 Germany Liquefied Petroleum Gas Market by Application
10.3.2.5 France
10.3.2.5.1 France Liquefied Petroleum Gas Market by Source
10.3.2.5.2 France Liquefied Petroleum Gas Market by Application
10.3.2.6 UK
10.3.2.6.1 UK Liquefied Petroleum Gas Market by Source
10.3.2.6.2 UK Liquefied Petroleum Gas Market by Application
10.3.2.7 Italy
10.3.2.7.1 Italy Liquefied Petroleum Gas Market by Source
10.3.2.7.2 Italy Liquefied Petroleum Gas Market by Application
10.3.2.8 Spain
10.3.2.8.1 Spain Liquefied Petroleum Gas Market by Source
10.3.2.8.2 Spain Liquefied Petroleum Gas Market by Application
10.3.2.9 Netherlands
10.3.2.9.1 Netherlands Liquefied Petroleum Gas Market by Source
10.3.2.9.2 Netherlands Liquefied Petroleum Gas Market by Application
10.3.2.10 Switzerland
10.3.2.10.1 Switzerland Liquefied Petroleum Gas Market by Source
10.3.2.10.2 Switzerland Liquefied Petroleum Gas Market by Application
10.3.2.11 Austria
10.3.2.11.1 Austria Liquefied Petroleum Gas Market by Source
10.3.2.11.2 Austria Liquefied Petroleum Gas Market by Application
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Liquefied Petroleum Gas Market by Source
10.3.2.12.2 Rest of Western Europe Liquefied Petroleum Gas Market by Application
10.4 Asia-Pacific
10.4.1 Asia Pacific Liquefied Petroleum Gas Market by Country
10.4.2 Asia Pacific Liquefied Petroleum Gas Market by Source
10.4.3 Asia Pacific Liquefied Petroleum Gas Market by Application
10.4.4 China
10.4.4.1 China Liquefied Petroleum Gas Market by Source
10.4.4.2 China Liquefied Petroleum Gas Market by Application
10.4.5 India
10.4.5.1 India Liquefied Petroleum Gas Market by Source
10.4.5.2 India Liquefied Petroleum Gas Market by Application
10.4.6 Japan
10.4.6.1 Japan Liquefied Petroleum Gas Market by Source
10.4.6.2 Japan Liquefied Petroleum Gas Market by Application
10.4.7 South Korea
10.4.7.1 South Korea Liquefied Petroleum Gas Market by Source
10.4.7.2 South Korea Liquefied Petroleum Gas Market by Application
10.4.8 Vietnam
10.4.8.1 Vietnam Liquefied Petroleum Gas Market by Source
10.4.8.2 Vietnam Liquefied Petroleum Gas Market by Application
10.4.9 Singapore
10.4.9.1 Singapore Liquefied Petroleum Gas Market by Source
10.4.9.2 Singapore Liquefied Petroleum Gas Market by Application
10.4.10 Australia
10.4.10.1 Australia Liquefied Petroleum Gas Market by Source
10.4.10.2 Australia Liquefied Petroleum Gas Market by Application
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Liquefied Petroleum Gas Market by Source
10.4.11.2 Rest of Asia-Pacific APAC Liquefied Petroleum Gas Market by Application
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Liquefied Petroleum Gas Market by Country
10.5.1.2 Middle East Liquefied Petroleum Gas Market by Source
10.5.1.3 Middle East Liquefied Petroleum Gas Market by Application
10.5.1.4 UAE
10.5.1.4.1 UAE Liquefied Petroleum Gas Market by Source
10.5.1.4.2 UAE Liquefied Petroleum Gas Market by Application
10.5.1.5 Egypt
10.5.1.5.1 Egypt Liquefied Petroleum Gas Market by Source
10.5.1.5.2 Egypt Liquefied Petroleum Gas Market by Application
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Liquefied Petroleum Gas Market by Source
10.5.1.6.2 Saudi Arabia Liquefied Petroleum Gas Market by Application
10.5.1.7 Qatar
10.5.1.7.1 Qatar Liquefied Petroleum Gas Market by Source
10.5.1.7.2 Qatar Liquefied Petroleum Gas Market by Application
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Liquefied Petroleum Gas Market by Source
10.5.1.8.2 Rest of Middle East Liquefied Petroleum Gas Market by Application
10.5.2 Africa
10.5.2.1 Africa Liquefied Petroleum Gas Market by Country
10.5.2.2 Africa Liquefied Petroleum Gas Market by Source
10.5.2.3 Africa Liquefied Petroleum Gas Market by Application
10.5.2.4 Nigeria
10.5.2.4.1 Nigeria Liquefied Petroleum Gas Market by Source
10.5.2.4.2 Nigeria Liquefied Petroleum Gas Market by Application
10.5.2.5 South Africa
10.5.2.5.1 South Africa Liquefied Petroleum Gas Market by Source
10.5.2.5.2 South Africa Liquefied Petroleum Gas Market by Application
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Liquefied Petroleum Gas Market by Source
10.5.2.6.2 Rest of Africa Liquefied Petroleum Gas Market by Application
10.6 Latin America
10.6.1 Latin America Liquefied Petroleum Gas Market by Country
10.6.2 Latin America Liquefied Petroleum Gas Market by Source
10.6.3 Latin America Liquefied Petroleum Gas Market by Application
10.6.4 Brazil
10.6.4.1 Brazil Liquefied Petroleum Gas Market by Source
10.6.4.2 Brazil Africa Liquefied Petroleum Gas Market by Application
10.6.5 Argentina
10.6.5.1 Argentina Liquefied Petroleum Gas Market by Source
10.6.5.2 Argentina Liquefied Petroleum Gas Market by Application
10.6.6 Colombia
10.6.6.1 Colombia Liquefied Petroleum Gas Market by Source
10.6.6.2 Colombia Liquefied Petroleum Gas Market by Application
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Liquefied Petroleum Gas Market by Source
10.6.7.2 Rest of Latin America Liquefied Petroleum Gas Market by Application
11 Company Profile
11.1 China Gas Holdings Ltd.
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 Saudi Arabian Oil Co.
11.2.1 Company Overview
11.2.2 Financials
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 FLAGA Gmbh
11.3.1 Company Overview
11.3.2 Financials
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Kleenheat
11.4 Company Overview
11.4.2 Financials
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Bharat Petroleum Corporation Limited
11.5.1 Company Overview
11.5.2 Financials
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 JGC HOLDINGS CORPORATION
11.6.1 Company Overview
11.6.2 Financials
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 Phillips 66 Company
11.7.1 Company Overview
11.7.2 Financials
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 Chevron Corporation
11.8.1 Company Overview
11.8.2 Financials
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 Reliance Industries Limited
11.9.1 Company Overview
11.9.2 Financials
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 Exxon Mobil Corporation
11.10.1 Company Overview
11.10.2 Financials
11.10.3 Product/Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
11.11 Total
11.11.1 Company Overview
11.11.2 Financials
11.11.3 Product/Services Offered
11.11.4 SWOT Analysis
11.11.5 The SNS View
11.12 Royal Dutch Shell
11.12.1 Company Overview
11.12.2 Financials
11.12.3 Product/Services Offered
11.12.4 SWOT Analysis
11.12.5 The SNS View
12. Competitive Landscape
12.1 Competitive Bench marking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
14. Conclusion
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