Expert Market Research Explores the Top 6 Companies in the Europe BioLPG Market

The Europe bioLPG market reached around 391.05 KMT in 2023. The market is estimated to grow at a CAGR of 19.8% during 2024-2032 to attain 1,879.12 KMT by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by the growing concern for environment and rising government regulations to support decarbonisation.

BioLPG, a sustainable alternative to fossil-fuel-based LPG, is aiding the decarbonisation of the transportation, residential, industrial, and petrochemical sectors. BioLPG shares the same chemical composition as conventional LPG, making it a seamless drop-in replacement for various applications, including transportation fuel. This compatibility is driving the expansion of the bioLPG market in Europe.

In April 2023, the European Parliament and Council reached a provisional agreement on the RefuelEU Aviation rules. The agreement mandates that at least 2% of aviation fuels be sustainable by 2025, with this share increasing every five years to reach 70% by 2050. This commitment to sustainable aviation fuels (SAF) is expected to stimulate investment in new production plants, which will also increase bioLPG production as a by-product. This development aligns with broader European decarbonisation goals and supports the transition to renewable energy sources.

According to IEA, the residential sector is Europe’s largest biofuels and waste consuming sectors, representing 48.3% market share in 2021. It was followed by industrial and transportation sectors accounting for 27.6% and 16.5% market share in 2021, respectively.

Research and development in bioLPG are increasing, focusing on improving production processes, exploring new feedstock options, enhancing efficiency, and expanding its applications. These efforts are propelling the growth of the Europe bioLPG market.

In January 2023, Eni, the Italian oil and gas giant, launched Eni Sustainable Mobility, consolidating its existing biomethane operations and other sustainable transport-related products. This initiative includes bio-refining and biomethane assets, such as the refineries in Gela and Venice, along with ongoing projects like the Livorno and Pengerang bio-refineries. Eni Sustainable Mobility also manages a network of about 5,000 sales points across Europe, distributing hydrogen, electricity, biofuels, and other mobility-related products.

Top 6 BioLPG Producers in Europe:

Neste Oyj

The company, a frontrunner in sustainable aviation fuel, renewable diesel, and renewable feedstock solutions, is taking significant strides to combat environmental issues. Its agenda encompasses the advancement of chemical recycling technologies to combat plastic waste and aims to transform the Porvoo refinery in Finland into Europe's most sustainable by 2030. Additionally, the company is determined to achieve carbon-neutral production at the refinery by 2035. Notably, it is integrating renewable and recycled raw materials, including liquefied waste plastic, into its refining operations.

TotalEnergies

TotalEnergies, a prominent multinational energy corporation, offers a wide spectrum of energy resources such as oil, biofuels, natural gas, renewables, and electricity. With a substantial workforce of 100,000 employees, the company is committed to providing affordable, clean, and dependable energy solutions that cater to diverse populations.  Operating in approximately 130 countries, TotalEnergies places a strong emphasis on sustainable development throughout its projects and operations, aiming to make a positive impact on society's overall welfare.

Ekobenz Sp.z.o.o

Ekobenz Sp.z.o.o is a leading biocomponent producer, focused on developing innovative technology for industrial production of second generation biohydrocarbons primarily derived from bioethanol. With specialist laboratories in Lublin and Bogumilów, the company operates a production plant in Bogumilów, boasting an impressive annual capacity of 22,500 metric tonnes of liquid biohydrocarbons.

Galp Energia, SGPS, S.A.

Galp Energia, SGPS, S.A., a notable player in the energy sector, engages in a wide range of activities. These include electricity production from renewable sources, exploration, and commercialization of hydrocarbons such as oil and natural gas. The company also operates in the refining and distribution of lubricants, gas, gasoline, diesel, fuel oil, jet fuel, asphalts, and other related products. Galp Energia's diverse portfolio positions it as a significant contributor to the energy industry.

Compañía Española de Petróleos, S.A. (CEPSA)

Cepsa, a prominent global energy company, operates across five continents and prioritizes sustainable mobility and energy solutions backed by strong technical proficiency. In 2022, the company unveiled "Positive Motion," its strategic vision for 2030. This ambitious plan aims to establish Cepsa as a frontrunner in sustainable mobility, biofuels, and green hydrogen within Spain and Portugal. With this initiative, Cepsa demonstrates its commitment to driving forward the transition towards a sustainable and greener future.

ENI Spa

Eni is a worldwide energy company with a strong focus on technology. It operates across the entire value chain, encompassing oil and gas exploration, development, and extraction. Additionally, Eni engages in electricity generation through cogeneration and renewable sources, traditional and biorefining, chemical production, and circular economy processes. With a global workforce of 32,188 individuals, Eni operates in approximately 62 countries, including Algeria, Angola, Mozambique, Mexico, Indonesia, and Italy.