Propane Market 2022-2027 | Report, Growth, Outlook, Trends and Industry Forecast

According to the global propane market report by IMARC Group, the market reached a volume of 164.3 Million Tons in 2021, and it is projected to reach 212.8 Million Tons by 2027, exhibiting a CAGR of 4.10% during 2022-2027.

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Propane, popularly known as liquefied petroleum gas (LPG), is a flammable hydrocarbon gas usually compressed and stored in a liquid form. It is mainly obtained by natural gas processing and produced from crude oil refining. Propane is a non-toxic and odorless gas, although an odorant is added for leak detection. It is utilized for cooking, space and water heating, air conditioning, as vehicle fuel, etc. Owing to its cost-effectiveness, versatility, easy availability, environment friendliness, and high energy density properties of propane, propane finds widespread applications as a clean-burning alternative fuel across various sectors, such as commercial, residential, industrial, transportation, etc.

Propane Market Trends and Drivers:

The escalating demand for clean-burning fuels, on account of the rising environmental concerns, is among the primary factors driving the propane market. Besides this, the elevating product requirement in several processes, including soldering, preheating, cutting, brazing, shrink-wrapping, heat treatment, etc., is further augmenting the market growth.

Apart from this, the increasing popularity of propane-based agricultural engines and continuous research and development (R&D) activities are also catalyzing the global market. Moreover, the development of sustainable manufacturing processes that use bio-based raw materials to enhance efficiency and conserve natural and non-renewable resources is acting as another significant growth-inducing factor.

Furthermore, the growing product popularity in the power and energy sectors to generate electricity and the emerging trend of Autogas or LPG-fueled vehicles are expected to bolster the propane market in the coming years.

Global Propane Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Propane Companies:

Air Liquide S.A., BP plc, Chevron Corporation, China National Petroleum Corporation, China Petroleum & Chemical Corporation, ConocoPhillips Company, Eni S.p.A., Evonik Industries AG, Exxon Mobil Corporation, GAIL (India) Limited, Gazprom, Indian Oil Corporation Ltd., Royal Dutch Shell plc, Saudi Arabian Oil Co. and TotalEnergies SE.

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The report has segmented the market on the basis of region, form, grade and end use industry.

Breakup by Form:
·      Liquid
·      Gas

Breakup by Grade:
·      HD-5 Propane
·      HD-10 Propane
·      Commercial Propane

Breakup by End Use Industry:
·      Residential
·      Commercial
·      Transportation
·      Industrial
·      Others

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022- 2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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