Liquefied Petroleum Gas (LPG) Market 2021 Latest Advancements, Trends and Huge Business Opportunities: Saudi Aramco, Sinopec, ADNOC, CNPC, Exxon Mobil, KNPC, Phillips66, Bharat Petroleum, Pemex, Total

Liquefied Petroleum Gas (LPG) Market Report provides detailed analysis of Growth Factors of the market as well as it gives an analysis of the Market size, Latest trends, SWOT Analysis by Regions and Forecasted market research data until 2026. The Liquefied Petroleum Gas (LPG) market report has studied key opportunities in the market and influencing factors which are useful to the business. The report also maps the qualitative and quantitative impact of various market factors like macro-economic indicators, PPP, Epidemiological data, Insurance scenario and patent and IP information, Government Policies and business regulations along market attractiveness as per segments.

Liquefied Petroleum Gas (LPG) market size (most likely outcome) will be a year-over-year revenue growth rate of XX% in 2021, from US$ 162420 million in 2020. Over the next five years the Liquefied Petroleum Gas (LPG) market will register a 3.9% CAGR in terms of revenue, the global market size will reach US$ 189350 million by 2026.

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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Liquefied Petroleum Gas (LPG) Market: Saudi Aramco, Sinopec, ADNOC, CNPC, Exxon Mobil, KNPC, Phillips66, Bharat Petroleum, Pemex, Total, Qatar Petroleum, Equinor, BP, Gazprom, Chevron, ConocoPhillips Company, SHV Energy (NL), Valero Energy and others.

Industry News and Updates:

Saudi Aramco and Hyundai Make LPG-for-CO2 Deal

Wednesday, March 03, 2021 -- Saudi Arabia plans to ship gas to South Korea where it will be used to make hydrogen, and the carbon dioxide produced in the process will be transported straight back to the kingdom.

Hyundai OilBank Co. will take liquefied petroleum gas cargoes from Saudi Aramco which it will then convert into hydrogen, the Korean energy company’s parent Hyundai Heavy Industries Holdings Co. said in a statement. The hydrogen will be used at desulfurization facilities and to power vehicles.

The deal signed Wednesday includes an agreement for the carbon dioxide emitted in the hydrogen-making process to be transported back to Saudi Arabia, according to a Hyundai Heavy spokesman. The gas will then be used in Aramco’s oil production facilities.

The state-run energy company already uses carbon dioxide to pump more crude out of the ground in a process known as enhanced oil recovery. Saudi Aramco did not immediately respond to a request for more information on the arrangement.

China Gas, Sinopec agree strategic LPG framework deal

08 March 2021: Hong Kong-listed LPG importer China Gas has agreed a strategic co-operation framework deal with state-controlled refiner Sinopec covering LPG and natural gas.

The companies are looking to combine Sinopec's natural gas and LPG supply presence, as well as its service station network, with China Gas' midstream and downstream distribution networks. The agreement covers deep processing, logistics and warehousing across the LPG industry's value chain, China Gas said.

The two firms plan to establish a national association of LPG importers, although it is unclear if this will be a bilateral or industrywide initiative. They also said they plan to push ahead with the formulation and implementation of a Chinese LPG import price index, but did not give details.

Global Liquefied Petroleum Gas (LPG) Market Split by Product Type and Applications:

This report segments the market on the basis of Types are:

Petroleum Cracking Method
Gas Purification Method

On the basis of Application, the market is segmented into:

Civil
Industrial
Others

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Regional analysis:

This report covers South America, North America, Europe, Asia Pacific (APAC), Africa and The Middle East, taking into account the clear evidence of where the market is fully examined, typical market examples, blocks and open access roads for power generation. With a huge population, Asia Pacific has revenues in the picture year, and dominates the Liquefied Petroleum Gas (LPG) market share, at any given time. Continuous GDP reform; Institutional progress per capita is becoming urbanized in the metropolitan area. This expanded revenue has led to indulging in top private and unrealistic usage models in the Liquefied Petroleum Gas (LPG) market deployed in the region. While an important piece of the Liquefied Petroleum Gas (LPG) market center around the global expansion of business, territories such as the Middle East and Africa will grow steadily. Big market development will take place in Latin America because of the small expansion producers' attempts at profits. In Europe, a lethargic improvement is expected due to mood-oriented rules and early stages.

Find Out:

Liquefied Petroleum Gas (LPG) market: Where are the opportunities? What does the future look like for Liquefied Petroleum Gas (LPG)? What will be the market size in the next 5 years?
Liquefied Petroleum Gas (LPG) Market trends: What is driving the market? Where are the key players? What are their strategies? What is holding the market behind? Where is the industry heading for in the short and long-term? How are new developments expected to change the market?
Technology: How are new technologies shaping the Liquefied Petroleum Gas (LPG) market?

What are the new revenue channels which companies can explore for growth?       

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Due to the onset of COVID-19 pandemic, several economies across the world have experienced harsh economic downturn. The industrialists across North America, Europe, Asia Pacific, Latin America and Middle East and Africa were facing problems due to changing preferences of the customers and demand fluctuation. The market research report covers pre-Covid-19 data for the Liquefied Petroleum Gas (LPG) market in years 2018 and 2020. Further, the report also covers forecast Covid-19 data from 2021 to 2026, which provides future outlook of the market for the manufacturers and suppliers.

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