Worldwide Liquefied Petroleum Gas | LPG Market by 2023 Production, Suppliers, Revenue and Forecast

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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.

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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.

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.

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.

LPG market

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.

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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.

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