Liquefied Petroleum Gas (LPG) Market Global Industry Analysis -2020

While on one hand the cheap and easy availability of liquefied petroleum gas (LPG) is driving more consumers in Asia Pacific and Latin America to use LPG as a fuel, the volatile crude oil prices are restraining the market’s growth. As a result of these factors, the global LPG market is expected to post a 3.4% CAGR between 2014 and 2020. Globally, the LPG market in 2013 stood at US$233.83 bn. TMR expects the global LPG market to reach US$299.05 bn by 2020.

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Perhaps the greatest impact on the LPG market globally will be the expansion of the Panama Canal, which will create a multitude of trade opportunities, giving the market an additional boost. Moreover, new possibilities indicating additional shale gas production in Latin America and Asia Pacific could revitalize business in the LPG market.

For the purpose of this study, the global LPG market has been segmented on the basis of end-use, source segment, and regions. Based on source, the liquefied petroleum gas market has been segmented into associated gas, refineries, and non-associated gas. The non-associated gas category will be leading contributor to the production of LPG through the report’s forecast period. With LPG production capacities being added by companies operating in the Middle East, LPG production volumes from this region will swell in the coming years. This region already stands as the largest LPG producer in the world.

The U.S., on the other hand, is witnessing an unprecedented spike in LPG production, paving the way for high-volume exports. LPG exports from the U.S. will chiefly be channeled into Latin American markets where the demand for the fuel source is mounting.Likewise, on the basis of end use, the market is divided into residential and commercial, industrial, refinery and petrochemical, transportation, and others. The consumption of LPG was the highest (over 60%) in the residential and commercial segment in 2013. The high demand for LPG from the commercial and residential segment can be ascribed to its use as a fuel for cooking, heating, as well as lighting. The report observes that about 90% of all LPG in Africa is consumed by the residential segment, making this region a lucrative one for companies in the LPG market. Besides Africa, countries in Asia Pacific and Latin America with a high population density in rural and semi-urban regions are attractive for LPG suppliers.

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The prospects of LPG as a transportation fuel are extremely positive as LPG autogas is considered a more affordable alternative to gasoline and diesel. The demand for autogas is soaring in European countries such as Poland, Turkey, and Germany. The same can be said for countries such as Japan and South Korea in Asia Pacific. TMR analysts say that LPG consumption in the autogas segment will have a 5.2% CAGR between 2014 and 2020.

The report also segments the market, by region, into North America, Europe, Middle East and Africa, Asia Pacific, and South and Central America. With the Panama Canal being expanded, countries in Asia Pacific can now import LPG at competitive rates from the U.S. In the meanwhile, China is poised to experience a shale gas revolution by 2016 – an event that will further alter the dynamics of the LPG market not just in APAC, but globally.Leading players in the global LPG market are SHV Energy, Copagaz Distribuidora De Gas, Repsol, Origin Energy, China Gas Holdings, Exxon Mobil, and Royal Dutch Shell.

Key Segments of the LPG Market

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

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insights for 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.

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