LPG finds use as a fuel in transportation and heating & cooling appliances in domestic as well as industrial sector, and several other industries. Currently, LPG accounts for around 3% of the total energy consumed globally and is gradually replacing chlorofluorocarbons (CFCs) as a refrigerant. LPG also reduces the chances of water or soil pollution; however, it causes air pollution to some extent.
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Liquefied petroleum gas (LPG) is a colorless and odorless gas, flammable in nature, obtained by refining of petroleum or wet natural gas. LPG primarily consists of hydrocarbons, such as propane or butane or a mixture of both.
Ethanethiol, which is a powerful odorant, is usually added during the synthesis of LPG for its easy detection in the case of any leakage, as it can lead to suffocation and explosion due to its flammable nature.
Based on the source, the market is divided into refineries, associated gas, and non-associated gas.
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Geographic breakdown and deep analysis of each of the aforesaid segments have resulted in the following regions: North America, Europe, Asia-Pacific, and LAMEA.
- Government initiatives supporting the consumption of LPG as a cooking and transportation fuel
- Growing adoption of LPG as an auto fuel, especially in the Asia-Pacific region
- Consideration of LPG as a clean fuel as compared to others due to reduced carbon emissions and low cost
- Volatility of crude oil prices result in unpredictability of LPG prices thereby hampering market growth
Market Players: (lpg shipping market companies)
The top players in the global liquefied petroleum gas market include BP plc. (UK), ExxonMobil Corporation (U.S.), Aygaz AS (Turkey), Sinopec Limited (China), Royal Dutch Shell plc (Netherlands), PetroChina Company Limited (China), Indian Oil Corporation Ltd.
(India), Oman Oil Company S.A.O.C. (Oman), Phillips 66 (U.S.), and Qatar Petroleum (Qatar).
Market Landscape by Source
- Refineries (liquefied petroleum gas price chart)
- Associated gases
- Non-associated gases
Key Point from Table of Content
- Company profiles
7.1. Aygaz AS
7.1.2. Financials and business segments
7.1.3. Recent developments
7.2. BP plc.
7.2.2. Financials and business segments
7.2.3. Recent developments
7.3. ExxonMobil Corporation
7.3.2. Financials and business segments
7.3.3. Recent developments
7.4. Indian Oil Corporation Ltd.
7.4.1. Overview (lpg price international market)
7.4.2. Financials and business segments
7.4.3. Recent developments
7.5. Oman Oil Company S.A.O.C.
7.5.1. Overview (liquefied petroleum gas market association)
7.5.2. Financials and business segments
7.5.3. Recent developments
Market Landscape by Application
- Chemical (market association)
- Auto fuel
- Others (lpg price international market)
Market Landscape by Geography
- North America
- Rest of Europe
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