Global Liquefied Petroleum Gas (LPG) market is expected to reach USD 299.05 billion in 2020

Transparency Market Research Liquefied Petroleum Gas (LPG) Market (Refinery, Associated Gas, and Non-Associated Gas) for Residential/Commercial, Petrochemical and Refinery, Industrial, Transportation and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020 Published Date 2014-09-05

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Global Liquefied Petroleum Gas (LPG) market is expected to reach USD 299.05 billion in 2020 Transparency Market Research State Tower, 90, State Street, Suite 700.

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Liquefied petroleum gas Market

REPORT DESCRIPTION

Transparency Market Research has released a new market report titled “Liquefied Petroleum Gas (LPG) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.� According to the report, the global LPG market was valued at USD 233.83 billion in 2013 and is anticipated to reach USD 299.05 billion in 2020, expanding at a CAGR of 3.4% from 2014 to 2020.

Liquefied petroleum gas (LPG) is a mixture of propane and butane which finds applications in multiple end user segments. LPG is primarily used by the residential and commercial segment. Within this segment, LPG is majorly used as a cooking fuel, although other uses include heating and lighting. In 2013, the residential and commercial segment was the largest consumer of LPG, accounting for over 60% of the global consumption. The Autogas segment is likely to be one of the fastest growing end user markets of LPG within the forecast period. Attractive environmental benefits of using Autogas coupled with smaller payback periods for adopters are resulting in rapid adoption of LPG as a transportation fuel. Another attractive end user segment for LPG is likely to be the refinery and petrochemical segment. Large petrochemical complexes being planned around the world are likely to contribute to increased LPG consumption in certain regions.

LPG is produced through refineries, non-associated gas, and associated gas. LPG production from crude oil refining occupied the maximum market share at 41% in 2013. This was followed by the non-associated gas and associated gas categories in that order. Amidst refinery shutdowns in Europe, the refinery sector in Asia-Pacific and Russia is likely to contribute to the maximum growth in LPG production from this segment.

The non-associated gas category is likely to account for the fastest growth rates in LPG production within the forecast period. Rapid exploration and production activities of gas wells both in the Middle East and Russia is likely to contribute further to this fact. LPG production from shale gas has also been accounted for within the non-associated gas category, which is further enhancing growth in this segment.

In terms of LPG production, the Middle East was the largest producer in 2013 with almost 33% of the global market share. However in terms of LPG consumption, Asia-Pacific emerged as the market leader with over 35% of market share in 2013. Large populations in Asia-Pacific, Latin America and Africa are likely to contribute to the growth of LPG consumption in the residential and commercial segments. Large petrochemical complexes planned in the Middle East are likely to account for the maximum LPG consumption for the region in the future. A similar scenario is likely to be observed in China which has large petrochemical capacity additions planned within the forecast horizon. For the Autogas segment, Europe and certain countries in Asia-Pacific are likely to remain the most attractive markets. Opportunities such as the expansion of the Panama Canal and a possible shale gas revolution in China by the end of 2016 can significantly alter the dynamics of the LPG industry. The report has analyzed companies responsible for LPG production as well as those involved in distribution and retailing of LPG. Browse the full Liquefied Petroleum Gas (LPG) Market (Refinery, Associated Gas, and Non-Associated Gas) for Residential/Commercial, Petrochemical and Refinery, Industrial, Transportation and Other Applications Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020 report at http://www.transparencymarketresearch.com/liquefied-petroleum-gas-market.html LPG Market: Source Analysis Refinery Associated Gas Non-Associated Gas

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Liquefied petroleum gas Market

LPG Market: End User Analysis Residential/Commercial Petrochemical and Refinery Industrial Transportation Others LPG Market: Regional Analysis North America Europe Asia-Pacific Middle East & Africa South & Central America Request a Sample of this Report : http://www.transparencymarketresearch.com/sample/sample.php? flag=S&rep_id=491 About Us Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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