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Propane Market Analysis (2023-2032)- Global Trends, Regional Outlook, Product Valuation And Major Players | Chevron Corporation, China Petroleum & Chemical Corporation, China National Petroleum Corporation, ConocoPhillips Company, Eni S p A, Exxon Mobil C
Propane Market
Propane Market Size, Growth Rate, And Forecast:
The global propane market size is expected to grow from $79.21 billion in 2022 to $84.99 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global propane market size is expected to reach $107.97 billion in 2027 at a CAGR of 6.2%.
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Propane Market Drivers:
The increasing LPG consumption is expected to propel the growth of the propane market going forward. LPG or liquefied petroleum gas refers to a type of liquid gasoline that serves as fuel for a wide range of tasks, including driving automobiles. LPG is primarily composed of propane and butane and is commonly used as a fuel source for heating, cooking, and transportation. As the demand for LPG increases, the demand for propane also increases.
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Propane Market Segments:
By Form: Liquid, Gas
By Grade: HD-5 Propane, HD-10 Propane, Commercial Propane
By Application: Industrial, Commercial, Residential, Agriculture, Transportation, Chemicals And Refineries, Other Applications
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Propane Market.
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Propane Market Key Players:
Major competitors in the propane market include Chevron Corporation, China Petroleum & Chemical Corporation, China National Petroleum Corporation, ConocoPhillips Company, Eni S p A, Exxon Mobil Corporation, Gazprom International Limited.
The Business Research Company's "Global Propane Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Propane Market Include:
1. Executive Summary
2. Propane Market Characteristics
3. Propane Market Trends And Strategies
4. Propane Market - Macro Economic Scenario
5. Propane Market Size And Growth
……
26. Africa Propane Market
27. Propane Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Propane Market
29. Propane Market Future Outlook and Potential Analysis
30. Appendix
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Its primary applications include home and water heating, food preparation and storage, clothing drying, and the powering of industrial and farm machinery.
The production of plastics and other…
Propane Market Report on Recent Adoption 2031
Propane Market Outlook 2031
The global propane market was valued at US$ 82.6 Bn in 2021
It is estimated to grow at a CAGR of 4.8% from 2022 to 2031
The global propane market is expected to reach US$ 132.1 Bn by the end of 2031
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