Liquefied Petroleum Gas (LPG) Market Will Continue to Grow by 2020
Liquefied petroleum gas (LPG) is a combustible mix of hydrocarbon gases. LPG is directed as fuel in heating appliances, vehicles, aerosol propellant, refrigerant and cooking equipment, etc. LPG is also referred as propane or butane. LPG offers several benefits such as low cost, low carbon emission and other operational benefits. LPG can be employed as a feedstock in petrochemical and refinery complexes and usually used as substitute to naphtha.
LPG demand is primarily driven by government initiatives to increase consumption of LPG as cooking fuel and auto fuel. Growing adoption of auto gas especially in Asia Pacific region is estimated to augment demand for LPG demand over the forecast period. However, the volatility of crude oil prices is major factor that will hamper market growth. Furthermore, Panama Canal expansion and shale gas production in the Asia-Pacific and Latin American regions will open new doors for LPG market.
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The LPG market has been segmented based on source such as refinery, associated gas and non-associated gas. It is also segmented on the basis of end-user such as residential/commercial, petrochemical and refinery, industrial, transportation and others. The study provides forecast and estimates for each source segment and end-user in terms of revenue and volume during the forecast period.
Value chain analysis and Porter’s Five Forces Model have been provided for a comprehensive view of the market. The study encompasses a market attractiveness analysis, wherein application segments are benchmarked based on their market size, growth rate and general attractiveness.
The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and Middle East and Africa with its further bifurcation into major countries including U.S., Canada, Germany, France, UK, China, Japan, India and Brazil. This segmentation includes demand for LPG based on individual applications in all the regions and countries.
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The global market for LPG is fragmented within some key companies including Aygez, Bayegan, China Gas, Dolphin Energy, ETG companies, Huntsman Petrochemical, Indian Oil Corporation Ltd., Oman Oil Company, Petredec Ltd., Phillips 66, Qatargas, Qatar fuel, Qatar Petroleum, Shell, Tasweeq and Vitol.
The global LPG market is segmented as follows:
LPG Market: Source Segment Analysis
- Associated Gas
- Non-Associated Gas
LPG Market: End User Segment Analysis
- Petrochemical and Refinery
LPG Market: Regional Segment Analysis
- North America
- Latin America
- Middle East & Africa
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