Propane Market size is projected to reach USD 175.85 billion in 2028 from an estimated USD 151 billion in 2021, growing at a CAGR of 2.2% globally.
Propane Market size is projected to reach USD 175.85 billion in 2028 from an estimated USD 151 billion in 2021, growing at a CAGR of 2.2% globally.
Propane Market is derived as a by-product of natural gas processing and crude oil refining. It is a three-carbon alkane classified as one of the liquefied petroleum gases with the molecular formula C3H8. There are two ways in which propane is processed – refining and natural gas production. Propane, alongside butane, is acquired from liquid components by natural gas processing to avoid condensation in natural gas pipelines. The propane is thicker than gas, so the blended propane is stored and transported in a liquid state. The next step is to mix odorant and propane since it is naturally colorless and odorless. The propane is classified into 3 grades – HD5, HD10, and commercial propane and each grade comes from the same raw material. It has a lesser melting point, and very high hydrogen content, and combustion is much cleaner than that of coal. It is majorly used in agriculture, commercial, and residential industries. Its wide usage in construction sites, industrial segments, the automotive sector, and electricity generation from gas turbines.
Top Market Players Considered in the Propane Market:
DCC Plc, SINOPEC, Saudi Arabian Oil Co., Suburban, Ferrellgas, Gazprom, AmeriGas Propane Inc., Air Liquide, GAIL (India) Limited, Indian Oil Corporation Ltd., Lykins Energy Solutions, Marsh L.P. Gas Co. Inc and other major key players.
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The report provides an in-depth analysis of the Propane Market including a detailed description of market growth and size, value, and the key opportunities in the market, as well as an outline of the factors that are and will be driving the industry's growth, taking previous growth patterns into account. The global Propane Market report provides an in-depth analysis of the market state of Propane Market manufacturers, including the latest facts and data, SWOT analysis, and expert views from around the world. The cost structure, market size, Propane Market Sales, Gross Margin and Market Share, Price, Revenue, Size, Forecast, and Growth Rate are all calculated in the report. The income earned from the sale of This Study and technologies by various application industries is considered in the report.
Segmentation Analysis of Propane Market:
The Propane Market can be segmented to target different customer groups and meet diverse needs. Here are several key segmentation factors for the OCR market:
By Type
By Grade
By Application
By End User
Market share data Market Segment by Regions and Countries Level Analysis:
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Jan 02, 2024