Liquefied Petroleum Gas (LPG) is a form of clean, transportable, and efficient source of energy that is readily available and is majorly developed from natural gas and oil production. This term is applied to some specific hydrocarbons & their mixtures that are present in the gaseous state under the atmospheric ambient conditions and can be changed to the liquid state under the conditions of moderate pressure at ambient temperature.

To have an edge over the competition by knowing the market dynamics and current trends of “Liquefied Petroleum Gas Market,” request for Sample Report here

The global liquefied petroleum gas market is mainly driven by several factors, including the increasing adoption of liquified petroleum gas across several application areas such as residential and commercial areas and the rising government initiatives and subsidies for the adoption of LPG across various economies. In addition to this, various advantages associated with the usage of liquefied natural gas such as higher calorific value, reduced pollution, increased reliability as compared to the other fuels, along with enhanced portability and convenience are some other key factors propelling the growth of the global liquefied natural gas market.

Moreover, the rising inclination of customers towards using clean energy as it emits low greenhouse gas emissions, followed by the implementation of sustainable energy strategies and growing technological advancements in the LPG industry are further bolstering the growth of the global liquefied natural gas market during the forecast period. The rising population and urbanization are leading to an increase in the demand for LPG and the ability to be used in remote places where there is unavailability of ordinary gas supplies are certain factors that are thriving various opportunities for the liquefied natural gas across the world. The factors that are restraining the growth of the global liquefied natural gas market include the high cost and the rising concerns related to safety.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Based on the source type, the Refineries segment is expected to increase at a higher CAGR during the forecast period owing to the increasing penetration of plants and refineries factories, which is leading to the majority of the production of gas from this source. In addition to this, the growing expansion in the refinery capacity and an increase in the expansion of LNG infrastructure are some other key factors fuelling the growth of the market of this segment.

Based on the application, the Residential/Commercial segment is anticipated to grow at a higher compound annual growth rate over the forecast period due to the increasing usage of liquified natural gas from the residential & commercial sectors as a result of the increasing reliance on LPG for cooking purposes. Furthermore, the rising government subsidies and initiatives to increase the adoption of liquified natural gas are further bolstering the growth of this segment.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Customization here

Based on the region, Asia-Pacific is expected to dominate the market during the forecast period owing to the rise in the adoption of liquified natural gas and the growing government initiatives for the enhancement of the overall distribution services and infrastructure of LPG. In addition to this, the rising population is leading to an increase in the energy demand, which is further accelerating the demand for the liquified natural gas in the residential sectors. All these factors are surging the growth of the market in this region.

Various notable players operating in the market include China Petroleum & Chemical Corporation, Petroliam Nasional Berhad (PETRONAS), Exxon Mobil Corporation, China National Petroleum Corporation, Royal Dutch Shell, Phillips 66 Company, Valero Marketing and Supply Company, Bharat Petroleum Corporation Limited, Chevron Corporation, and Qatar Petroleum, among others.

Key Developments:

• • In 2020, Exxon Mobil Corporation entered into an agreement with Indian Oil Corp, to support in supplying natural gas in containers to the Indian cities outside of the pipeline network. Through this agreement, the company planned to develop reliable and strong pathways for the gas to move resourcefully and rapidly wherever required.
  • In 2019, Qatar Petroleum signed an agreement with Wanhua Chemical Group, a producer of petrochemical. In this agreement, the company will sell around 800,000 metric tons per year of LPG over a period of ten years. Through this agreement, the company shows its marketing strategy to surge the direct sales of petroleum products with the end-users, majorly in China.

The global liquefied petroleum gas market has been segmented on the basis of source type, application, and region. Based on the source type, the market is segmented into associated gas, refineries, and non-associated gas. Based on the application, the market is segmented into chemical, residential/commercial, auto fuel, industrial, refineries, and others.

For detailed scope of the “Liquefied Petroleum Gas Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is the global liquefied petroleum gas market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global liquefied petroleum gas market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global liquefied petroleum gas market?
  • Which source type generated maximum revenues in 2019 and identify the most promising source type during the forecast period?
  • What are the various application areas of the liquefied petroleum gas market, and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Source Type, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	China Petroleum & Chemical Corporation, Petroliam Nasional Berhad (PETRONAS), Exxon Mobil Corporation, China National Petroleum Corporation, Royal Dutch Shell, Phillips 66 Company, Valero Marketing and Supply Company, Bharat Petroleum Corporation Limited, Chevron Corporation, and Qatar Petroleum, among others; a total of 10 companies covered
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Liquefied Petroleum Gas Market by Source Type

• • Associated Gas
  • Refineries
  • Non-Associated Gas

Global Liquefied Petroleum Gas Market by Application

• • Chemical
  • Residential/Commercial
  • Auto Fuel
  • Industrial
  • Refineries
  • Others

Global Liquefied Petroleum Gas Market by Region

• • North America Liquefied Petroleum Gas Market (Option 1: As a part of the free 25% customization)
    • North America Liquefied Petroleum Gas Market by Source Type
    • North America Liquefied Petroleum Gas Market by Application
    • US Liquefied Petroleum Gas Market All-Up
    • Canada Liquefied Petroleum Gas Market All-Up
  • Europe Liquefied Petroleum Gas Market (Option 2: As a part of the free 25% Customization)
    • Europe Liquefied Petroleum Gas Market by Source Type
    • Europe Liquefied Petroleum Gas Market by Application
    • UK Liquefied Petroleum Gas Market All-Up
    • Germany Liquefied Petroleum Gas Market All-Up
    • France Liquefied Petroleum Gas Market All-Up
    • Spain Liquefied Petroleum Gas Market All-Up
    • Rest of Europe Liquefied Petroleum Gas Market All-Up
  • Asia-Pacific Liquefied Petroleum Gas Market (Option 3: As a part of the free 25% Customization)
    • Asia-Pacific Liquefied Petroleum Gas Market by Source Type
    • Asia-Pacific Liquefied Petroleum Gas Market by Application
    • China Liquefied Petroleum Gas Market All-Up
    • India Liquefied Petroleum Gas Market All-Up
    • Japan Liquefied Petroleum Gas Market All-Up
    • Rest of APAC Liquefied Petroleum Gas Market All-Up
  • RoW Liquefied Petroleum Gas Market (Option 4: As a part of the free 25% Customization)
    • RoW Liquefied Petroleum Gas Market by Source Type
    • RoW Liquefied Petroleum Gas Market by Application
    • Brazil Liquefied Petroleum Gas Market All-Up
    • South Africa Liquefied Petroleum Gas Market All-Up
    • Saudi Arabia Liquefied Petroleum Gas Market All-Up
    • UAE Liquefied Petroleum Gas Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Liquefied Petroleum Gas Market All-Up

Global Liquefied Petroleum Gas Leading Market Players (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • China Petroleum & Chemical Corporation
  • Petroliam Nasional Berhad (PETRONAS)
  • Exxon Mobil Corporation
  • China National Petroleum Corporation
  • Royal Dutch Shell
  • Phillips 66 Company
  • Valero Marketing and Supply Company
  • Bharat Petroleum Corporation Limited
  • Chevron Corporation
  • Qatar Petroleum