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Europe BioLPG Market to Grow at a CAGR of 40.80% During 2022-2027, Aided by the Increasing Environmental Consciousness

According to a new report by EMR titled, ‘Europe BioLPG Market Report and Forecast 2022-2027’, the Europe market for bioLPG attained a value of about USD 145.8 million in 2021. The industry is further expected to grow at a CAGR of 40.80% in the forecast period of 2022-2027 to reach USD 1065.3 million by 2027.

The growing consciousness about environmental issues such as pollution and climate change is driving the Europe market for bioLPG. The increasing focus on reducing the usage of conventional fuels, which cause high rates of carbon and greenhouse gas emissions, is driving the adoption of bioLPG as a sustainable alternative. The rapid industrialisation and the expanding demand for fuel across industry verticals are leading to depletion of conventional fuel resources. As a result, the use of bioLPG can help meet the increasing energy demands while meeting sustainable development goals. BioLPG is renewable as it is made from plant and animal wastes that are easily available. Additionally, the government initiatives to promote the adoption of eco-friendly fuel solutions are also expected to bolster the market for bioLPG. In the forecast period, the technological advancements aimed towards the large-scale production of bioLPG are expected to further aid the market growth.

The growing demand for environmentally sustainable energy solutions is leading many global companies to compete and collaborate in order to produce and distribute bioLPG. For instance, in February 2021,  UGI Corporation (NYSE: UGI), a marketer of energy products and services, declared its strategic collaboration with bioLPG producer Ekobenz Sp.z.o.o to drive bioLPG availability in Europe. This would help the firm to strengthen its market presence in Europe, while also reducing the carbon footprint in the region. The company is committed to support the goals of Paris agreement to achieve zero emissions by 2050. Furthermore, in February 2022, UGI Corporation (NYSE: UGI) partnered with the Global Clean Energy Holdings, Inc. (OTCMKTS: GCEH) to distribute renewable LPG. Through this partnership, the company aims to advance the market worldwide which is expected to have a positive impact on the European bioLPG industry.

Market Analysis by Application and Region:

  • The Europe bioLPG industry, on the basis of application, is segregated into household, and commercial, among others. Among these, the commercial segment is further divided, based on type, into HoReCa, industrial, and mobility.
  • The regional markets for bioLPG in Europe include Germany, the United Kingdom, France, Spain, Russia, Italy, the Netherlands, and Belgium, among others.

Key Findings of the Report:

  • The Europe market for bioLPG is being driven by the growing demands for sustainable and renewable energy sources.
  • The environment friendly disposition of bioLPG fuel is contributing to the market expansion.
  • The favourable government initiatives to bring about climate neutrality and maintain eco-balance is further augmenting the market.
  • The rapid technological advancements towards the large-scale production of bioLPG by key industry players are expected to propel the market growth in the forecast period.

Key Offerings of the Report:

  • The EMR report gives an overview of the Europe market for bio-LPG for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the applications and regions of bioLPG. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the Europe bioLPG market are Neste Oyj, TotalEnergies, SHV Energy, Avanti Gas Ltd., Ekobenz Sp.z.o.o, Colar Gas Ltd., and SkyNRG BV, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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