A latest report has been added to the wide database of Propane Market by Infinium Global Research. This report studies the Propane Market by application (residential, commercial, industrial, agricultural, chemical & refinery and transportation) market status and outlook of global and major regions, from manufacturers, and end industries. The objective of the study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. Propane Market provides opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape, latest trends, and product offerings of the major companies in the Propane Market.
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Propane is a hydrocarbon and is sometimes referred to as liquefied petroleum gas (LPG). Propane is produced from both natural gas processing and crude oil refining. Propane gas turns into liquid under pressure. Furthermore, propane is nontoxic, colorless, and virtually odorless and is one of the cleanest burning of all the fossil fuels. Propane is used widely in small domestic heating application as well as in large industrial and manufacturing process. Moreover, propane is commonly used for residential & commercial heating and cooking, motor fuel, as a raw material in petrochemical industry for the production of plastics, fibers and cosmetics.
The global propane market was sized over USD 122.53 billion in 2015. The global propane market is projected to grow with a CAGR between 3.0% and 3.5% during 2017-2023 and reach USD 148.72 billion by 2023. Rising demand of liquefied propane gas from increasing consumers globally and increasing preference of consumers due to lower cost of propane as compare to other fuel substitutes are the key factors driving the global propane market. Furthermore, rising demand of propane from petrochemical industry for the production of plastics, fibers and cosmetics will also drive the propane market globally over the forecast period. Moreover, huge demand of propane as motor fuel from automobile industry coupled with lower cost as compare to other fuels will also drive the global propane market over the forecast period. However, fluctuations in petroleum and crude oil prices primarily required for processing & refining of propane as well as inadequate infrastructure for retailing of propane and limited awareness of benefits associated with propane among the consumers are the prime factors responsible for restraining the growth of this market. Nevertheless, huge demand of clean fuel from marine industry which in turn increases the demand of propane and use of propane in power generation will bring opportunities to the global propane market. Hence, the global propane market is expected to face the challenges such as transportation, storage and supply.
The report segments the propane market by application and by region. Market segmentation based on application includes residential, commercial, industrial, agricultural, chemical & refinery and transportation. Moreover, residential sub segment is accounted to be the largest application sub segment and is likely to lead the global propane market due to non-toxicity of propane and less emission of carbon during combustion.
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Table of Contents
1.1 Report Description
1.2 Research Methods
1.3 Research Approaches
2. Executive Summary
3. Global Propane Market Overview
3.2 Market Dynamics
3.3 Porter’s Five Forces Analysis
3.4 IGR – Growth Matrix Analysis
3.5 Competitive Landscape in the Propane Market
4. Global Propane Market: IGR Snapshots
4.1 Global Propane Market Key Trends
4.2 Global Propane Market by Application
5. Global Propane Market by Application (USD Million,) 2017 – 2023
5.5 Chemical & Refinery
6. Global Propane Market Analysis, by Region (USD Million,) 2017 – 2023
6.1 North America
6.1.1 North America Propane Market by Application (USD Million)
6.1.2 North America Propane Market by Country (USD Million)
6.2.1 Europe Propane Market by Application (USD Million,)
6.2.2 Europe Propane Market by Country (USD Million,)
6.3.1 Asia-Pacific Propane Market by Application (USD Million,)
6.3.2 Asia-Pacific Propane Market by Country (USD Million,)
6.4 Rest of the World (RoW)
6.4.1 RoW Propane Market by Application (USD Million,)
6.4.2 RoW Propane Market by Sub-region (USD Million,)
7. Company Profiles
7.1 Marsh LP Gas Company Inc.
7.2 Lykins Energy Solutions
7.3 Sparlingss Propane Co. Ltd.
7.4 Ferrellgas Partners L.P.
7.6 PetroChina Company Limited
7.7 Reliance Industries Ltd.
7.10 British Petroleum
7.14 Valero Energy Corp.