Propane Market Analysis including key players- Lykins Energy Solutions, Sparlingss Propane Co. Ltd., Ferrellgas Partners L.P., ThompsonGas, PteroChina Company Limited, Reliance Industries Ltd., AmeriGas

Propane is a hydrocarbon and is sometimes referred to as liquefied petroleum gas (LPG). Propane is produced from both natural gas processing and crude oil refining. Propane gas turns into liquid under pressure. Furthermore, propane is nontoxic, colorless, and virtually odorless and is one of the cleanest burning of all the fossil fuels. Propane is used widely in small domestic heating application as well as in large industrial and manufacturing process. Moreover, propane is commonly used for residential & commercial heating and cooking, motor fuel, as a raw material in petrochemical industry for the production of plastics, fibers and cosmetics.

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Market Insights

The global propane market was sized over USD 122.53 billion in 2015. The global propane market is projected to grow with a CAGR between 3.0% and 3.5% during 2017-2023 and reach USD 148.72 billion by 2023. Rising demand of liquefied propane gas from increasing consumers globally and increasing preference of consumers due to lower cost of propane as compare to other fuel substitutes are the key factors driving the global propane market. Furthermore, rising demand of propane from petrochemical industry for the production of plastics, fibers and cosmetics will also drive the propane market globally over the forecast period. Moreover, huge demand of propane as motor fuel from automobile industry coupled with lower cost as compare to other fuels will also drive the global propane market over the forecast period. However, fluctuations in petroleum and crude oil prices primarily required for processing & refining of propane as well as inadequate infrastructure for retailing of propane and limited awareness of benefits associated with propane among the consumers are the prime factors responsible for restraining the growth of this market. Nevertheless, huge demand of clean fuel from marine industry which in turn increases the demand of propane and use of propane in power generation will bring opportunities to the global propane market. Hence, the global propane market is expected to face the challenges such as transportation, storage and supply.

Segments Covered:

The report segments the propane market by application and by region. Market segmentation based on application includes residential, commercial, industrial, agricultural, chemical & refinery and transportation. Moreover, residential sub segment is accounted to be the largest application sub segment and is likely to lead the global propane market due to non-toxicity of propane and less emission of carbon during combustion.

Geographic Coverage and Analysis:

The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2017 – 2023.

Asia Pacific is accounted to be the largest market region in the global propane market and is likely to continue its dominance over the forecast period due to growing demand of propane from automobile industry and increasing population in this region. Furthermore, developing infrastructure and high demand of LPG over the traditional substitutes especially in developing economies such as India, China, Taiwan and South Korea are anticipated to grow the propane market at a highest CAGR rate in Asia Pacific region over the forecast period. North America is accounted for the second largest propane market following the Asia Pacific region and was the largest consumer of propane over the last decade due to increasing use in HVAC systems. Moreover, high demand of propane due to extreme climatic conditions in this region will likely to witness a significant growth in propane market.

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Companies Profiled:

The companies covered in the report include Marsh LP Gas Company Inc., Lykins Energy Solutions, Sparlingss Propane Co. Ltd., Ferrellgas Partners L.P., ThompsonGas, PteroChina Company Limited, Reliance Industries Ltd., AmeriGas, Shell, British Petroleum, BASF, Sinopec, PDVSA, Valero Energy Corp., ExxonMobil and Evonik.

Report Highlights:

The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of propane globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and value chain analysis of propane.

Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the propane market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the propane market to understand the present and future trends in this market and formulate their strategies accordingly.

Table of Content

1. Preface

1.1 Report Description

1.2 Research Methods

1.3 Research Approaches

2. Executive Summary

3. Global Propane Market Overview

3.1 Introduction

3.2 Market Dynamics

3.2.1 Drivers

3.2.2 Restraints

3.2.3 Opportunities

3.3 Porter’s Five Forces Analysis

3.4 IGR – Growth Matrix Analysis

3.5 Competitive Landscape in the Propane Market

4. Global Propane Market: IGR Snapshots

4.1 Global Propane Market Key Trends

4.2 Global Propane Market by Application

5. Global Propane Market by Application (USD Million,) 2017 – 2023

5.1 Residential

5.2 Commercial

5.3 Industrial

5.4 Agricultural

5.5 Chemical & Refinery

5.6 Transportation

6. Global Propane Market Analysis, by Region (USD Million,) 2017 – 2023

6.1 North America

6.1.1 North America Propane Market by Application (USD Million)

6.1.2 North America Propane Market by Country (USD Million)

6.2 Europe

6.2.1 Europe Propane Market by Application (USD Million,)

6.2.2 Europe Propane Market by Country (USD Million,)

6.3 Asia-Pacific

6.3.1 Asia-Pacific Propane Market by Application (USD Million,)

6.3.2 Asia-Pacific Propane Market by Country (USD Million,)

6.4 Rest of the World (RoW)

6.4.1 RoW Propane Market by Application (USD Million,)

6.4.2 RoW Propane Market by Sub-region (USD Million,)

7. Company Profiles

7.1 Marsh LP Gas Company Inc.

7.2 Lykins Energy Solutions

7.3 Sparlingss Propane Co. Ltd.

7.4 Ferrellgas Partners L.P.

7.5 ThompsonGas

7.6 PetroChina Company Limited

7.7 Reliance Industries Ltd.

7.8 AmeriGas

7.9 Shell

7.10 British Petroleum

7.11 BASF

7.12 Sinopec

7.13 PDVSA

7.14 Valero Energy Corp.

7.15 ExxonMobil

7.16 Evonik

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