Liquefied petroleum gas market is anticipated to grow at a CAGR of 3.2% during the forecast period (2024-2031). Liquefied Petroleum Gas is a versatile hydrocarbon fuel that is commonly used for heating, cooking, and powering appliances in residential, commercial, industrial, and agricultural settings. It is composed primarily of propane and butane, which are extracted from natural gas processing and petroleum refining.
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Effective infrastructure development supports sustainable development goals and enhances overall societal well-being. For instance, in September 2022, Enterprise Products Partners unveiled its strategy to expand its Natural Gas Liquid (NGL) pipeline infrastructure within the Permian Basin. This expansion initiative includes the construction of two processing plants alongside the extension of the Shin Oak NGL pipeline system. The proposed enhancements involve the addition of new pipelines and the modification of existing pump stations. Upon completion, the capacity of the infrastructure is projected to reach 275,000 barrels per day (bpd), with the anticipated timeline for finalization set for the early stages of 2024.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Liquefied Petroleum Gas Market by Source
- Natural gas liquid
- Crude oil
Global Liquefied Petroleum Gas Market by Application
- Residential
- Commercial
- Chemical
- Industrial
- Autogas
- Refinery
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Abu Dhabi National Oil Co.
- Bharat Petroleum Corporation Limited
- Chevron Corp.
- China Gas Holdings Ltd.
- ConocoPhillips
- Exxon Mobil Corp.
- Gazprom PJSC
- Hindustan Petroleum Corp. Ltd.
- Kleenheat Gas Pty Limited
- Kuwait Petroleum Corp.
- PAO Novatek
- Petroliam Nasional Berhad (PETRONAS)
- Phillips Petroleum Company
- Qatar Petroleum
- QatarEnergy LNG
- Reliance Industries Ltd.
- Repsol SA
- Saudi Arabian Oil Co. (Saudi Aramco)
- Shell plc
- TotalEnergies SE
- UGI Corp.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global liquefied petroleum gas market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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