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Propane Market to Reach 254.36 Million Tons by 2030 at 4.33% CAGR; Bio-Propane Gains Momentum | Mordor Intelligence Analysis
Propane Market Size & Share | Mordor Intelligence
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Asia-Pacific remains the largest and fastest-growing region, accounting for 41% of global share in 2024. The region's industrialization, population growth, and government-backed LPG adoption programs are key drivers. Meanwhile, bio-propane is emerging as a sustainable alternative, offering up to 80% lower life-cycle emissions compared to fossil propane.
Propane Market Latest Trends
Residential Demand Resilience: Despite electrification pushes, propane remains cost-effective for heating and cooking, especially in rural areas.
Industrial Growth: Petrochemical producers are expanding propane dehydrogenation (PDH) plants, boosting demand for propylene production.
Bio-Propane Expansion: Fastest-growing source with a 9.20% CAGR, supported by renewable LPG initiatives in Europe and North America.
Transportation Adoption: Autogas programs and school bus fleet conversions are increasing propane's role in low-emission mobility.
Cylinder Distribution Growth: Represented 45% of global share in 2024, advancing at 6.45% CAGR due to convenience and government subsidies.
Asia-Pacific Dominance: Regional CAGR of 6.18% through 2030, led by China and India's strong consumption.
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Propane Market Segmentation
By Source
Refinery
Associated Gas
Non-Associated Gas (52% share in 2024)
Bio-Propane (fastest-growing at 9.20% CAGR)
By End-User Industry
Residential (40% share in 2024)
Commercial
Industrial (5.25% CAGR forecast)
Transportation
Other sectors
By Distribution Channel
Bulk Delivery
Cylinder Distribution (45% share in 2024)
Autogas Refueling Network
Retail Packaged (mini-cylinders, camping use)
By Geography
Asia-Pacific (China, India, Japan, South Korea, Rest of APAC)
North America (United States, Canada, Mexico)
Europe (Germany, UK, Italy, France, Rest of Europe)
South America (Brazil, Argentina, Rest of South America)
Middle East & Africa (Saudi Arabia, South Africa, Rest of MEA)
Explore Competitive Landscape and Details: https://www.mordorintelligence.com/industry-reports/propane-market/companies?utm_source=openpr
Top 5 Key Players
Saudi Arabian Oil Co.
ExxonMobil Corporation
Shell PLC
Chevron Corporation
BP p.l.c.
Other notable companies: China Petrochemical Corporation, GAIL (India), Gazprom, Phillips 66, TotalEnergies, Suburban Propane, UGI Corporation
Dominating Country - Asia-Pacific
Asia-Pacific stands out as the leading region in the propane market, driven by strong industrial demand and widespread household adoption. China's petrochemical sector continues to rely heavily on propane as a feedstock, while India's government-backed initiatives are expanding access to LPG cylinders in rural communities, encouraging a shift toward cleaner fuels. These factors together reinforce the region's dominance, with reliable supply chains supported by imports from North America ensuring consistent availability and market stability.
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Conclusion
Asia-Pacific leads demand, bio-propane accelerates sustainability, and cylinder distribution expands accessibility. Major energy companies are investing in renewable pathways, while transportation and industrial sectors provide new opportunities.
The parallels with the Ammonia Market highlight broader industrial gas trends, reinforcing the importance of diversification and renewable adoption. Together, propane and ammonia markets represent critical pillars in the global energy and chemical landscape.
Explore More Reports from Mordor Intelligence Database:
Industrial Gas Market Share 2026- https://www.mordorintelligence.com/industry-reports/hydrogen-gas-market?utm_source=openpr
Helium Market 2026 - https://www.mordorintelligence.com/industry-reports/helium-market?utm_source=openpr
Hydrogen Gas Market 2031 - https://www.mordorintelligence.com/industry-reports/hydrogen-gas-market?utm_source=openpr
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About Mordor Intelligence
Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals. With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence possesses a unique understanding of the global business landscape. This expertise translates into comprehensive syndicated and custom research reports covering a wide spectrum of industries, including aerospace & defense, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics.
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