Middle East & Africa Liquefied Petroleum Gas Market May See a Big Move | Major Giants Saudi Aramco, National Iranian Oil, Kuwait National Petroleum

The MEA LPG market is majorly concentrated in the Middle Eastern countries, which contribute towards the maximum consumption and production of LPG in the region. Saudi Arabia is the largest consumer and producer of LPG in the Middle East, accounting for more than 50% of the total demand in Middle East region. South Africa and Egypt are expected to have considerable demands for LPG in Africa. The MEA LPG market was valued at $38.3 billion in 2019, and is estimated to grow at a CAGR of 4.0% from 2021 to 2028.

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The MEA market, based on sources, has been categorized into refineries, associated, and non-associated sources of LPG, whereas its applications primarily include residential/commercial for cooking gas & household heating, chemical for chemicals manufacturing, and industrial for industrial processes such as heating, drying, and steam generation. The autogas application includes the use of LPG as fuel in automobiles.

The Middle East region is surplus in petroleum products; hence, the use of gasoline for automobiles is predominant in the region. Since the use of gasoline results in carbon emissions, the Middle East is expected to grow on autogas. Meanwhile, although Africa accounts for a smaller market share, the region is mostly developing and is expected to grow on the residential/commercial application.

Government-owned companies from the Middle East dominate the MEA LPG market. Regional oil & gas explorer and refiners are the major suppliers of LPG to the MEA countries. Saudi Aramco (Saudi Arabia) is the largest LPG producer in the region. National Iranian Oil Corporation is expected to be the second--largest LPG supplier in the MEA region. Apart from these, Kuwait National Petroleum (Kuwait) and Abu Dhabi Oil Refining Company (Abu Dhabi) have a considerable market share in the MEA LPG market.

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This report includes various analysis, including industry analysis (industry trends and PEST analysis), market share analysis of top players, supply chain analysis, and company profiles, which collaboratively discusses the basic views on competitive landscape, emerging and high-growth segments of the LPG market, respective regulatory policies, government initiatives, drivers, restraints, and opportunities.

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Scope of this Report:
• This report segments the Liquefied Petroleum Gas market comprehensively and provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.

• The report helps stakeholders understand the pulse of the Liquefied Petroleum Gas market and provides them with information on key market drivers, restraints, challenges, and opportunities.

• This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, agreement, and acquisitions.

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