Propane Market to reach USD 230.43 Mn by 2029, emerging at a CAGR of 4.12 percent and forecast 2023-2029

Propane Market Report Scope and Research Methodology

The Propane Market Report, meticulously crafted by Maximize Market Research Pvt Ltd, offers an expansive scope that delves deep into the multifaceted world of propane. Within its purview, the report encompasses an array of critical aspects ranging from the chemical properties and applications of propane to a comprehensive analysis of market dynamics. With a temporal horizon extending from 2017 to projections for 2029, this report serves as a vital compass for understanding the evolving landscape of the propane industry.

Our research methodology is characterized by its rigor and precision. The year 2022 serves as our anchor point, with an unwavering commitment to the assessment of real company outputs in that pivotal year. In addition, our report pays particular attention to the far-reaching ramifications of the COVID-19 pandemic on market dynamics, making it a dynamic and responsive resource for industry stakeholders. Furthermore, our research extends to conducting strategic analyses of those companies that exhibited resilience and adaptability during the challenging periods of lockdown. This multifaceted approach ensures that our Propane Market Report is a comprehensive and invaluable asset for decision-makers and industry enthusiasts alike.

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What are Propane Market Dynamics:

The consumption of liquefied petroleum gas (LPG) as a primary cooking fuel among the local population has increased as the population of Asia Pacific, Africa, North America, and other regions has grown. In India, for example, almost 80% of all residential families consumes LPG as a cooking fuel. LPG is easily accessible, clean, ecological, portable, and, most significantly, cost-effective when compared to traditional fuels like wood and coal. Many governments throughout the world have launched campaigns to promote the use of LPG as a cooking fuel thanks to its advantages over traditional fuel.
For example, The Pradhan Mantri Ujjwala Yojna, an Indian government initiative in which 50 million LPG connections were expected to be distributed to women from low-income households, as well as other initiatives such as simplifying registration processes and payments, cylinder delivery, and cylinder subsidies, have resulted in increased acceptance of LPG as a household fuel, reducing reliance on traditionally used hazardous cooking fuels such as firewood and coal. As propane is one of the key ingredients in the production of LPG, these factors are expected to drive its demand.

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Propane Market Regional Insights:

China emerges as the titan of the propane landscape, standing as the world's largest consumer of this versatile hydrocarbon. With a voracious appetite for propane, China imported a staggering 14.91 million metric tonnes in 2019, representing a remarkable year-on-year increase of approximately 10.8%. The driving force behind this surge in propane imports lies in the burgeoning demand from propane dehydrogenation facilities, known as PDH plants, strategically positioned within the country. China's embrace of propane extends to the realm of Autogas, where it ranks as the second-largest market in the Asia-Pacific region, trailing only Thailand.

In a proactive response to the pressing issue of air pollution, municipal programs in China have vigorously promoted alternative fuels, propelling the growth of Autogas schemes. This environmental crusade has seen the rapid expansion of Autogas adoption, beginning in cities like Guangzhou and Hong Kong and eventually encompassing over 25 additional urban centers. In the wake of these initiatives, Autogas powers nearly all of Guangzhou's taxis and 90% of the city's buses, making it a compelling success story. Similarly, in Hong Kong, Autogas fuels the majority of taxis and a substantial portion of public buses. These endeavors underscore China's resolve to reduce emissions and combat air pollution, positioning it as a dominant player in the global propane market.

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What is Propane Market Segmentation:
by Application
Portable Stoves
Refrigerant
Domestic and Industrial Fuel
Motor Fuel
Shipping Fuel

by Form
Liquid
Gas

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Who are Propane Market Key Players:
1. ExxonMobil (U.S)
2. Chevron Corporation (U.S)
3. Anadarko Petroleum Corporation (U.S)
4. Suburban Propane (U.S)
5. Dow DuPont (U.S)
6. ConocoPhillips (U.S)

Table of content for the Propane Market includes:

1. Global Propane Market: Research Methodology

2. Global Propane Market: Executive Summary

• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry

3. Global Propane Market: Competitive Analysis

• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact

4 . Company Profile: Key players

• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments

Key Offerings:

• Past Market Size and Competitive Landscape (2022 to 2029)
• Past Pricing and price curve by region (2022 to 2029)
• Market Size, Share, Size and Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by growth and trend
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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