Research Reports Liquefied Petroleum Gas (LPG) Market 2014 – 2020
The global liquefied petroleum gas (LPG) market is projected to grow at a CAGR of 3.4% during the forecast period of 2014 to 2020.In 2013, the global liquefied petroleum gas (LPG) market was worth US$233.83 billion and by 2020, the global liquefied petroleum gas (LPG) market is expected to be valued at US$299.05 billion. On the basis of source, the global liquefied petroleum gas (LPG) market is segmented into non-associated gas, associated gas, and refinery.Crude oil refineries produced over 40% of the total LPG in the world in 2013, trailed by non-associated gas LPG production. The non-associated gas sector is expected to exhibit the fastest growth in the global liquefied petroleum gas (LPG) market in the coming few years and pose higher production figures compared to the refinery sector.
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By end use, the global liquefied petroleum gas (LPG) market is divided into residential/commercial, industrial, petrochemical and refinery, transportation, and others. The residential/commercial LPG sector accounted for around 60% of the global liquefied petroleum gas (LPG) market in 2013. The residential sector’s consumption of LPG is propelled by the demand from emerging countries of Africa and Asia Pacific. In Africa, around 90% of the total liquefied petroleum usage is witnessed in the residential sector. According to the World Bank, the current LPG consumption in West Africa was recorded at 360,000 tons per year.
On the basis of geography, the global liquefied petroleum gas (LPG) market is segmented into North America, Asia Pacific, Europe, South and Central America, and the Middle East and Africa. At present, the global liquefied petroleum gas (LPG) market is dominated by the Middle East and Africa, followed by South and Central America, North America, Europe, and Asia Pacific. The Middle East and Africa segment is expected to continue its dominance during the forecast period, as this region boasts of a majority share in global production of LPG from the non-associated gas source segment.On the other hand, the U.S. emerged as a net exporter of LPG in 2012 and its supplies are anticipated to soar with the rising production of LPG from shale gas. The Asia Pacific liquefied petroleum gas sector stood out as the largest consumer of LPG in 2013 and countries such as India and China held a signification portion of the consumption.
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The global liquefied petroleum gas (LPG) market will continue to experience good growth in the coming years due to the rising consumption of autogas and growing fuel consumption in emerging regions. On the other hand, the global liquefied petroleum gas (LPG) market will be restrained by the volatility in crude oil prices. This in turn will lead to LPG price uncertainty.Nevertheless, players in the global liquefied petroleum gas (LPG) market will benefit from the expansion of the Panama Canal, increasing trade opportunities, and the possibility of shale gas production in Latin America and Asia Pacific. Some of the key players operating in the global liquefied petroleum gas (LPG) market are SHV Energy, Repsol, Copagaz Distribuidora De Gas, China Gas Holdings, Origin Energy, Royal Dutch Shell, and Exxon Mobil.
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Key Segments of the LPG Market
LPG Market: Source Analysis
- Associated Gas
- Non-Associated Gas
LPG Market: End User Analysis
- Petrochemical and Refinery
LPG Market: Regional Analysis
- North America
- Middle East & Africa
- South & Central America
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