Liquefied Petroleum Gas (LPG) Market By End Use (Residential, Chemical, Industrial, Auto Fuel, Refinery), By Source (Natural Gas Well, Refinery) - Growth, Future Prospects And Competitive Analysis, 2016 - 2024

This report, titled "Liquefied Petroleum Gas (LPG) Market: Growth, Future Prospects, and Competitive Analysis, 2016–2024," offers strategic insights into the trends in the LPG market along with the market size and forecast for the duration of 2013–2024. The said research study incorporates an in-depth analysis of multiple market segments based on source, end-use, and geographical distribution.

The global liquefied petroleum gas (LPG) market is becoming increasingly competitive with a growing number of mergers and collaborations between market players to reach full capabilities and gain an international footprint. In addition, several players are also focused on developing their niche in the market. This market's rapid growth has also resulted in the creation of additional skilled job opportunities in major hubs across North America, Europe, Latin America, and Asia Pacific.

Based on source, the global LPG market is categorized into natural gas wells and refineries. On the basis of end users, the global LPG market is segmented into residential, chemical, industrial, auto fuel, refinery, and others (agriculture). In addition, oil-producing companies, LPG refining companies, and academic organizations form the major client types for the LPG market. The market size (US$ Bn) (Mn Tons) and forecast for all the considered segmentations are presented in this report for the period 2013–2024, along with their respective CAGRs (%) for the forecast period 2016–2024.

In terms of geographical distribution, global LPG is studied in five major regions, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Market size and forecasts for each regional and country-level market are included in the report for the considered periods.

To further elucidate, the geographical distribution of the global LPG market is described as follows:

• North America
• U.S.
• Canada
• Europe
• U.K.
• Russia
• Germany
• Rest of Europe
• Asia-Pacific
• Australia
• Japan
• China
• Indonesia
• Asia-Pacific region
• Middle East and Africa (MEA)
• GCC
• the remainder of MEA
• Latin America
• Argentina
• Brazil
• Mexico
• rest of Latin America

Along with the quantitative information sets, this report also provides qualitative information, such as market dynamics and an executive summary of the global LPG market. The report also includes tools to help readers with competitive mappings, such as competition assessment and appealing investment propositions. This study concludes with a company profile section. This section includes major information about the key companies engaged in the development and provision of LPG.

Based on the end user, the global LPG market is segmented as follows:

•  Residential
• Chemical
• Industrial
• Auto fuel
• Refinery
• Others (Agriculture)

The global LPG market is classified according to end-use. Among end uses, the residential segment was the most dominant segment in 2015 and is anticipated to continue its dominance over the forecast period. The residential segment was observed to be the largest segment in 2016 in the liquefied petroleum gas (LPG) market, owing to the wide adoption of LPG as a cooking fuel. The increasing penetration of LPG as a cooking fuel in key consuming economies such as India and China is expected to drive segment growth.

According to the Petroleum Planning and Analysis Cell (PPAC), the total consumption of LPG was 19.6 MT in 2015. Further, in 2015, Nigeria witnessed a 100% increase in domestic consumption of LPG. The segment is anticipated to grow at a significant rate and is projected to maintain its dominance over the forecast period (2016–2024). Following it, the chemical segment was the second-largest segment in the global LPG market. LPG can be converted into ethylene, propylene, butylene, butadiene, etc., to produce synthetic plastic, synthetic fiber, synthetic rubber, explosives, dyestuff, pharmaceuticals, etc.

Given the wide array of applications in the chemical industry and growing demand for plastics, rubber, fiber, and others, it is anticipated to drive the growth of the segment during the forecast period (2016-2023). The auto fuel segment is projected to be the fastest-growing segment in the global LPG market. The increasing adoption of LPG due to its associated advantages in terms of greenhouse gas emissions and cost-effectiveness as auto fuel is influencing consumers to adopt LPG as an alternative transportation fuel. This, in turn, is expected to augment the growth of the segment during the forecast period (2016–2024).

Based on the source, the global liquefied petroleum gas (LPG) market is segmented as follows:

• Natural Gas Well
• Refinery

The global LPG market is classified according to its source. Among sources, natural gas wells were the most dominant segment in 2016 and were anticipated to continue their dominance over the forecast period. Increasing exploration and production of natural gas reserves, along with exploration and production of non-conventional shale gas reserves, are anticipated to drive the growth of the segment during the forecast period (2016–2024). However, advancements in technology and growth in the capacity expansion of refineries fuel the production of LPG in refineries, which in turn is projected to drive the growth of the refinery segment during the forecast period. The segment is anticipated to witness steady growth over the forecast period (2016–2024).

For the purpose of this study, the global liquefied petroleum gas (LPG) market is categorized into:

• North America
• Europe
• Asia Pacific 
• Latin America (LATAM)
• Middle East and Africa (MEA)

In 2015, Asia Pacific was observed to be the most dominant region in the global liquefied petroleum gas (LPG) market. Over 40% of global LPG consumption was accounted for by the region. Growing demand for cooking gas from the residential sector coupled with various government initiatives such as subsidies to increase the penetration of LPG as a cooking fuel in emerging economies such as China and India is influencing consumers to replace conventional cooking fuels such as wood, kerosene, and coal.

Further, increasing demand for LPG auto fuel due to growing awareness about the associated advantages of LPG as fuel in terms of greenhouse gas emissions, as well as the cost-effectiveness of LPG as auto fuel, is influencing consumers to adopt LPG as an alternative transportation fuel. The region is also projected to witness the highest growth over the forecast period (2016–2024).

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