Global Liquefied Petroleum Gas (LPG) Market’s Future Lies in Non-Associated Gas, Expected to reach US$299.05 bn by 2020


A new Transparency Market Research report states that the global liquefied petroleum gas (LPG) market stood at US$233.83 bn in 2013 and is predicted to reach US$299.05 bn by 2020. It is predicted to expand at a CAGR of 3.40% from 2014 to 2023. The title of the report is, “Liquefied Petroleum Gas (LPG) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.” 
Browse the full Liquefied Petroleum Gas (LPG) Market (Refinery, Associated Gas, and Non-Associated Gas) for Residential/Commercial, Petrochemical and Refinery, Industrial, Transportation and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020 report at https://www.transparencymarketresearch.com/liquefied-petroleum-gas-market.html
Liquid petroleum gas (LPG) is also called referred to as butane or propane and is a flammable mixture made composed of a number of hydrocarbon gases. It is utilized as a fuel within heating appliances, vehicles, and cooking equipment, among others. This gas, when utilized as a vehicle fuel, is often known as auto gas. This gas is extensively utilized as a refrigerant and an aerosol propellant and replaces chlorofluorocarbons for reducing the damage caused to the ozone layers. It has a number of other uses, especially its utilization in cylinders across various markets in the form of a fuel container in the sectors of hospitality, agriculture, recreation, construction, fishing, sailing, and calefaction. It also serves as a fuel for central heating, water heating, and cooking and is extremely cost-effective in nature.
The report states that the rising consumption of auto gas has resulted in the increased utilization of LPG, hence boosting market growth. In addition, the increasing population base in regions such as that of Latin America, Asia Pacific, and Africa utilizing easily available and cheap LPG in the form of fuel is also stimulating the growth of the market. The rising trade opportunities owing to the expansion of the Panama Canal and the predictable production of shale gas within regions of Latin America and Asia Pacific are amongst the prime growth opportunities in the market for LPG. On the other hand, the unpredictable prices of crude oil result in price uncertainty of LPG prices, thus restraining market growth.
In terms of source, the report segments the market for LPG into associated gas, refinery, and non-associated gas. Amongst these, the segment of non-associated gas is predicted to take the largest share in the forecast horizon. In terms of end user, the market has been segmented into petrochemical and refinery, residential and commercial, transportation, industrial, and others. Amongst these, the residential and commercial segment led the market in 2013 and represented a share of more than 60% in the market. In this segment, LPG gas is majorly utilized as a cooking fuel and also in lighting and heating.
On the basis of geography, the report segments the market into Europe, North America, the Middle East and Africa, Asia Pacific, and South and Central America. Amongst these, the Middle East is the largest producer of LPG. On the other hand, the U.S. in North America emerged as the a net importer in 2012 and the production of LPG in North America is predicted to rise exponentially. In addition, within the U.S., the surplus production of LPG will be routed to the region of Latin America in the coming years owing to the rising demand from the commercial and domestic sectors.
As mentioned in the report, the prime players operating in the market for LPG are Exxon Mobil Corporation, British Petroleum plc., Kleenheat Gas Pty Limited, Origin Energy, Kleenheat Gas Pty Limited, Copagaz Distribuidora De Gas Ltda, SHV Energy N.V., and Repsol S.A., among others.
The global LPG market is segmented as follows:
LPG Market: Source Analysis
  • Refinery
  • Associated Gas
  • Non-Associated Gas
LPG Market: End User Analysis
  • Residential/Commercial
  • Petrochemical and Refinery
  • Industrial
  • Transportation
  • Others
LPG Market: Regional Analysis
  • North America
  • Europe
  • Asia-Pacific
  • Middle East & Africa
  • South & Central America
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com



Comments

Post a Comment

Popular posts from this blog

Greenhouse Film Market to Grow at 8.1% CAGR Thanks to Rising Demand for Quality Food Crops

The  global greenhouse film market  depicts the existence of a fairly emerging market that is expected to become consolidated in the near future, says Transparency Market Research on the basis of a recently published report. Such consolidation is mainly expected to be the result of innumerable mergers and acquisitions between key players in this sector. Moreover, the competition is expected to get tougher with the entry of new players on a regular basis in the global greenhouse film market. Berry Global Group, Inc., RPC BPI Group, BASF SE, Barbier Group, Plastika Kritis S.A., and RKW Hyplast NV, are key players operating in the global greenhouse film market. Most players intend to improve the quality of their respective products as a chief strategy to outshine their rivals. Other schemes wherein an extensive focus has been imparted by most companies involve product differentiation, expansion of product portfolio, and increasing geographical reach. Regulating costs of green...
Read more

Nitro Compound Fertilizers Market Major Advancements & Global Industry Analysis

Nitro Compound Fertilizers  Market: Overview Compound fertilizers contain multiple nutrients in each individual granule. They differ from a blend of fertilizers mixed together to achieve a desired average nutrient composition. It helps farmers to spread compound fertilizers so that each granule delivers a mixture of nutrients as it dissolves in the soil and eliminates the potential for segregation of nutrient sources during transport or application. Multiple-nutrient granules of compound fertilizers also help achieve uniform distribution of micronutrients throughout the root zone. Nitro compound fertilizers are products that contain rich nitrite nitrogen and ammonium nitrogen, which are easily absorbed by plants at high rates. In nitro compound fertilizers, the ammonium nitrogen provides sustainable nutrition to plants to support their rapid growth and strengthen the roots through photosynthesis. Read More Overview @  https://www.transparencymarketresearch.com/nitro-co...
Read more

Global Thermocouple alloys Market | | Progressive Growth In Upcoming Year

Thermocouple consists of two dissimilar metals which are joined to form electrical junctions at differing temperatures and produce electric current. . When selecting thermocoupling alloys, it is important to keep in mind the application temperature range, environment, accuracy required and length of service. Thermocouples are a widely used type of temperature sensor. Commercial thermocouples are inexpensive, interchangeable, are supplied with standard connectors, and can measure a wide range of temperatures. In contrast to most other methods of temperature measurement, thermocouples are self-powered and require no external form of excitation. The main limitation with thermocouples is accuracy; system errors of less than one degree Celsius (°C) can be difficult to achieve. Thermocouples are widely used in science and industry. Applications include temperature measurement for kilns, gas turbine exhaust, diesel engines, and other industrial processes. Thermocouples are also use...
Read more