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Global LPG Market: By Source: Refinery, Gas Processing; By Application: Residential, Petrochemical, Industrial, Transport, Commercial, Others; By Distribution Channel: Institutional, Retail; Regional Analysis; Historical Market and Forecast (2018-2028); Competitive Landscape; Industry Events and Developments
Global LPG Market Outlook
The global LPG market attained a volume of about 325.44 million metric tons in 2020. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 1.7% to reach 354.06 million metric tons by 2026.
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The LPG Industry in Europe to Be Aided by the Growing Necessity to Reduce Carbon Emissions
Europe held a significant share in the global market for LPG during the historical period of 2018-2022. This dominance can be attributed to the initiatives proposed by several European countries to decrease the carbon emissions in the atmosphere. Mature economies like Europe and North America are expected to witness a significant growth in the forecast period.
The regional market in the Asia Pacific is driven by the easy affordability, rising population, and subsequent high energy necessities. The growth in the petrochemical industry in China, India, Thailand, and South Korea is adding to the market growth. The LPG industry in Latin America, and the Middle East and Africa regions are also anticipated to witness a healthy growth in the forecast period.
LPG: Market Segmentation
Liquified petroleum gas (LPG) is a fuel constituting of a mixture of hydrocarbon gases. It contains either propane or butane or a mixture of both propane and butane. LPG has emerged as a clean and efficient source of energy. It has gained popularity owing to the lower carbon emission compared to other fossil fuels.
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The major sources of LPG are:
- Refinery
- Gas Processing
- Associated Gas
- Non-Associated Gas
The market can be broadly categorised based on its applications into:
- Residential
- Petrochemical
- Industrial
- Transport
- Commercial
- Others
By distribution channel, the market is segmented into:
- Institutional
- Retail
The EMR report looks into the regional markets of LPG like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Environmental Concerns to Aid the Market Growth of LPG
The global market for LPG is being driven by the rising environmental concerns. LPG has remarkably lower carbon emissions compared to its conventional fossil fuel alternatives. Thus, LPG has emerged as a clean and efficient energy source in various industries. LPG is being increasingly adopted in several industries, such as agriculture, commercial, and manufacturing applications. A significant rise in domestic applications was observed owing to its utilisation for heating and cooking purposes. It is also considered as a potential alternative to conventional fuels, thus, reducing the oil dependency and lowering the greenhouse effect. Furthermore, the usage in the petrochemical and automobile industry is projected to provide an impetus for the market growth. These factors are expected to aid the LPG industry in the coming years.
Key Industry Players in the Global LPG Market
The report presents a detailed analysis of the following key players in the global LPG market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- BP Plc
- Exxon Mobil Corporation
- Chevron Corporation
- Phillips 66 Company
- China Petroleum & Chemical Corporation
- Total S.A.
- DCC Plc
- Bharat Petroleum Corporation Limited
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Source, Application, Distribution Channel, Region |
| Breakup by Source | Refinery, Gas Processing |
| Breakup by Application | Residential, Petrochemical, Industrial, Transport, Commercial, Others |
| Breakup by Distribution Channel | Institutional, Retail |
| Breakup by Region | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Trade Data Analysis | Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume |
| Price Analysis | Historical and Forecast Price Trends- Regional |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | BP Plc, Exxon Mobil Corporation, Chevron Corporation, Phillips 66 Company, China Petroleum & Chemical Corporation, Total S.A., DCC Plc, Bharat Petroleum Corporation Limited, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure.
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global LPG Market Analysis
8.1 Key Industry Highlights
8.2 Global LPG Historical Market (2016-2021)
8.3 Global LPG Market Forecast (2023-2028)
8.4 Global LPG Market by Source
8.4.1 Refinery
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2016-2021)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Gas Processing
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2016-2021)
8.4.2.3 Forecast Trend (2023-2028)
8.4.2.4 Breakup by Type
8.4.2.4.1 Associated Gas
8.4.2.4.1.1 Market Share
8.4.2.4.1.2 Historical Trend (2016-2021)
8.4.2.4.1.3 Forecast Trend (2023-2028)
8.4.2.4.2 Non-Associated Gas
8.4.2.4.2.1 Market Share
8.4.2.4.2.2 Historical Trend (2016-2021)
8.4.2.4.2.3 Forecast Trend (2023-2028)
8.5 Global LPG Market by Application
8.5.1 Residential
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2016-2021)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Petrochemical
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2016-2021)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Industrial
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2016-2021)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Transport
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2016-2021)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Commercial
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2016-2021)
8.5.5.3 Forecast Trend (2023-2028)
8.5.6 Others
8.6 Global LPG Market by Distribution Channel
8.6.1 Institutional
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2016-2021)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Retail
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2016-2021)
8.6.2.3 Forecast Trend (2023-2028)
8.7 Global LPG Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2016-2021)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2016-2021)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2016-2021)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2016-2021)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2016-2021)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Trade Data Analysis
12.1 Major Importing Countries
12.1.1 By Volume
12.1.2 By Value
12.2 Major Exporting Countries
12.2.1 By Volume
12.2.2 By Value
13 LPG Price Analysis
13.1 North America LPG Historical Price Trends (2016-2021) and Forecast (2023-2028)
13.2 Europe LPG Historical Price Trends (2016-2021) and Forecast (2023-2028)
13.3 Asia Pacific LPG Historical Price Trends (2016-2021) and Forecast (2023-2028)
13.4 Latin America LPG Historical Price Trends (2016-2021) and Forecast (2023-2028)
13.5 Middle East and Africa LPG Historical Price Trends (2016-2021) and Forecast (2023-2028)
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 BP Plc
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Exxon Mobil Corporation
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Chevron Corporation
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Phillips 66 Company
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 China Petroleum & Chemical Corporation
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Total S.A.
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 DCC Plc
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 Bharat Petroleum Corporation Limited
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Others
15 Industry Events and Developments
List of Key Figures and Tables
1. Global LPG Market: Key Industry Highlights, 2018 and 2028
2. Global LPG Historical Market: Breakup by Source (Million Metric Tons), 2016-2021
3. Global LPG Market Forecast: Breakup by Source (Million Metric Tons), 2023-2028
4. Global LPG Historical Market: Breakup by Application (Million Metric Tons), 2016-2021
5. Global LPG Market Forecast: Breakup by Application (Million Metric Tons), 2023-2028
6. Global LPG Historical Market: Breakup by Distribution Channel (Million Metric Tons), 2016-2021
7. Global LPG Market Forecast: Breakup by Distribution Channel (Million Metric Tons), 2023-2028
8. Global LPG Historical Market: Breakup by End Use (Million Metric Tons), 2016-2021
9. Global LPG Market Forecast: Breakup by End Use (Million Metric Tons), 2023-2028
10. Global LPG Historical Market: Breakup by Region (Million Metric Tons), 2016-2021
11. Global LPG Market Forecast: Breakup by Region (Million Metric Tons), 2023-2028
12. North America LPG Historical Market: Breakup by Country (Million Metric Tons), 2016-2021
13. North America LPG Market Forecast: Breakup by Country (Million Metric Tons), 2023-2028
14. Europe LPG Historical Market: Breakup by Country (Million Metric Tons), 2016-2021
15. Europe LPG Market Forecast: Breakup by Country (Million Metric Tons), 2023-2028
16. Asia Pacific LPG Historical Market: Breakup by Country (Million Metric Tons), 2016-2021
17. Asia Pacific LPG Market Forecast: Breakup by Country (Million Metric Tons), 2023-2028
18. Latin America LPG Historical Market: Breakup by Country (Million Metric Tons), 2016-2021
19. Latin America LPG Market Forecast: Breakup by Country (Million Metric Tons), 2023-2028
20. Middle East and Africa LPG Historical Market: Breakup by Country (Million Metric Tons), 2016-2021
21. Middle East and Africa LPG Market Forecast: Breakup by Country (Million Metric Tons), 2023-2028
22. Major Importing Countries by Volume (2021)
23. Major Exporting Countries by Volume (2021)
24. Major Importing Countries by Value (2021)
25. Major Exporting Countries by Value (2021)
26. North America LPG Historical Price Trends and Forecast 2018-2028
27. Europe LPG Historical Price Trends and Forecast 2018-2028
28. Asia Pacific LPG Histor0ical Price Trends and Forecast 2018-2028
29. Latin America LPG Historical Price Trends and Forecast 2018-2028
30. Middle East and Africa LPG Historical Price Trends and Forecast 2018-2028
31. Global LPG Market Structure
Key Questions Answered in the Report
The global LPG market attained a volume of 325.44 million metric tons in 2020.
The market is expected to grow at a CAGR of 1.7% during the forecast period.
The market is predicted to reach 354.06 million metric tons by 2026.
The major drivers of the industry, such as the rising disposable incomes, growing environmental concerns, rapid urbanisation, growing population, and the necessity for clean fuels, are expected to aid the market growth.
The key trend in the market is the increasing domestic usage for cooking applications.
The major regional markets of LPG are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The leading sources of the product in the industry are refinery and gas processing.
The significant application segments of LPG in the market are residential, petrochemical, industrial, transport, and commercial, among others.
The distribution channels of LPG in the industry are institutional and retail.
The key players in the above market include BP Plc, Exxon Mobil Corporation, Chevron Corporation, Phillips 66 Company, China Petroleum & Chemical Corporation, Total S.A., DCC Plc, and Bharat Petroleum Corporation Limited, among others.
Analyst Review
The global LPG market attained a volume of 325.44 million metric tons in 2020, driven by the increasing environmental concerns. Aided by the growth in domestic applications, the market is expected to witness further growth in the forecast period of 2023-2028, growing at a CAGR of 1.7%. The market is projected to reach 354.06 million metric tons by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its source, the market can be segmented into refinery and gas processing. The market can be broadly categorized based on its applications into residential, petrochemical, industrial, transport, and commercial, among others. By distribution channel, the market is segmented into institutional and retail. The key players in the above market include BP Plc, Exxon Mobil Corporation, Chevron Corporation, Phillips 66 Company, China Petroleum & Chemical Corporation, Total S.A., DCC Plc, and Bharat Petroleum Corporation Limited, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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