World Liquefied Petroleum Gas (LPG) Market By Top Key Players British Petroleum Plc, China Petroleum & Chemical Corporation, Exxon Mobil Corporation, Chevron Corporation

Liquefied petroleum gas (LPG), also called LP gas, any of several liquid mixtures of the volatile hydrocarbons propene, propane, butene, and butane. It contains very less amount of carbon in it, hence LPG powered vehicles produce almost 50% less CO2 than petrol. However, Nitrogen compounds are comparable to Patrol. It mixes with air at all temperatures . It provides a uniform charge for combustion, in case of multi cylinder engine. It has very high compression ratios. It has very high antiknock characteristics. The engine may have 50% longer life. Its calorific value is almost 80%, compared to that of gasoline. however, its very high octane number comp ensates the thermal efficiency.

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Increasing demand for LPG auto fuel due to growing awareness about the associated advantages of LPG as fuel in terms of greenhouse gases emission as well as cost-effectiveness of LPG as auto fuel is influencing consumers to adopt LPG as alternative transportation fuel. the gas is considered a revolutionary fuel solution for various sectors, such as industries, residential, chemical, automotive and refinery. This is why LPG has a substantial market share in the residential and auto fuel sector, and the demand for LPG is expected to rise in the forecast period as well.

The major players dominating the market : British Petroleum Plc, China Petroleum & Chemical Corporation, Exxon Mobil Corporation, Chevron Corporation, China National Petroleum Corporation, Petroleum Nasional Bhd, Phillips 66, Royal Dutch Shell and Valero Energy.

Government initiatives to encourage the commercialization of LPG as cooking and auto fuel is the primary reason behind market growth. However, the volatility of crude oil prices is restricting market growth. Liquefied petroleum gas (LPG) is a flammable mixture of hydrocarbon gases that is used as fuel in heating appliances, vehicles, aerosol propellant, refrigerant and cooking equipment etc. In terms of cost and environmental benefits, LPG is way ahead of conventional fuels such as coal and wood.

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KEY BENEFITS

The report provides an in-depth analysis of the global LPG market, including information about current market situations, changing market dynamics, expected trends and market intelligence

Driving and restraining factors of the market are comprehensively analyzed
Porter’s Five Force model and SWOT illustrates the potency of buyers and sellers in the market and would help stakeholders to make strategic decisions

The analysis assists stakeholders in understanding the key strategies adopted by companies to gain traction in the LPG market

Micro level analysis is conducted based on product types, applications and regions

The global LPG market is segmented based on source, application and geography. Based on source, the market is further segmented into refineries, associated gas and non-associated gas. Based on application, the market is further segmented into commercial, chemical, industrial, auto fuel, refineries and other. Based on geography, the market is further segmented into Europe, North America, Asia Pacific and LAMEA.

KEY BENEFITS

• The report provides an in-depth analysis of the global LPG market, including information about current market situations, changing market dynamics, expected trends and market intelligence
• Driving and restraining factors of the market are comprehensively analyzed
• Porter’s Five Force model and SWOT illustrates the potency of buyers and sellers in the market and would help stakeholders to make strategic decisions
• The analysis assists stakeholders in understanding the key strategies adopted by companies to gain traction in the LPG market
• Micro level analysis is conducted based on product types, applications and regions

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