PROPANE Market Unlocking Trends: Size, Share, and Growth by 2030

Global Propane Market size was valued at USD 1.03 billion in 2022 and is projected to reach USD 4.74 billion by 2030, growing at a CAGR of 21.02% from 2023 to 2030.

A byproduct of refining crude oil and processing natural gas is propane. With the chemical formula C3H8, it is a three-carbon alkane that is categorized as one of the liquefied petroleum gases. Propane is processed by two different methods: natural gas production and refining. In order to prevent condensation in natural gas pipes, propane and butane are obtained from liquid components during natural gas processing. Because blended propane is heavier than gas, it is transported and stored in a liquid state. Since propane is naturally colorless and odorless, the next step is to combine it with odorant. Three types of propane are distinguished: HD5, HD10, and commercial propane. All three categories are derived from identical raw materials.

Players Covered in Propane market are:

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 latest research on the Global PROPANE Market provides a comprehensive overview of the market for the years 2023 to 2030. It gives a comprehensive picture of the global PROPANE industry, considering all significant industry trends, market dynamics, and competitive landscape. In addition, the analysis includes critical information on the PROPANE Market status of the main market players, major trends, and future market development opportunities. These research papers are designed to help readers find information and make decisions that will help them grow their business. The study is written with a specific goal in mind: to give business insights and consultancy to help customers make smart business decisions and achieve long-term success in their particular market areas.

Segmentation Analysis of The PROPANE Market

Based on the end-users, the Industrial end-use segment is expected to dominate the market and accounted for the highest market share during the forecast period. An increase in the metal products sector, particularly in Middle Eastern and Asian countries, is praised as a major demand driver for the industrial sector in the upcoming years. Low labor costs and decent operating expenses in the Asia Pacific region support end-use industries to consume high-cost products for their use.

By Type

• Liquid
• Gas

By Grade

• HD5 Propane
• HD10 Propane

By Application

• Motor Fuel
• Industrial & Domestic Fuel
• Refrigeration
• Solvent
• Others

By End User

• Transportation
• Residential
• Agriculture
• Commercial
• Industrial
• Chemicals & Refineries
• Others

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Opportunities for Propane Market:

• Because of its ability to burn efficiently and generate electricity, propane is mostly used in the power and energy industry. Propane can be utilized in gas turbines to produce power.
• In the electricity and energy industries, propane might be useful as a fuel source. This is most likely to support the delivery of substantial amounts of electricity to rural and semi-urban areas across many nations.
• A power plant that runs on propane is capable of generating more than 100 MW of electricity each year. Over the course of the forecast period, this feature is expected to provide profitable prospects for the global propane market.
• The majority of propane is made or acquired from non-renewable natural resources. As a result, it is projected that the global propane market would be constrained throughout the projection period due to the depletion of fossil fuels.

By Region

• North America (US, Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)

The Study Objectives are:

• A comprehensive insight into key players operating in the PROPANE Market and their corresponding data.
• It includes product portfolio, annual revenue, expenditure on research and development, geographical presence, key developments in recent years, and growth strategies.
• Regional analysis, which includes insight into the dominant market and corresponding market share.
• It also includes various socio-economic factors affecting the evolution of the market in the region.
• The report offers a comprehensive insight into different individuals from value chains such as raw materials suppliers, distributors, and stockholders.

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