The
global liquefied petroleum gas (LPG) market is projected to grow at a
CAGR of 3.4% during the forecast period of 2014 to 2020.In 2013, the
global liquefied petroleum gas (LPG) market was worth US$233.83
billion and by 2020, the global liquefied petroleum gas (LPG) market
is expected to be valued at US$299.05 billion. On the basis of
source, the global liquefied petroleum gas (LPG) market is segmented
into non-associated gas, associated gas, and refinery.Crude oil
refineries produced over 40% of the total LPG in the world in 2013,
trailed by non-associated gas LPG production. The non-associated gas
sector is expected to exhibit the fastest growth in the global
liquefied petroleum gas (LPG) market in the coming few years and pose
higher production figures compared to the refinery sector.
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By
end use, the global liquefied petroleum gas (LPG) market is divided
into residential/commercial, industrial, petrochemical and refinery,
transportation, and others. The residential/commercial LPG sector
accounted for around 60% of the global liquefied petroleum gas (LPG)
market in 2013. The residential sector’s consumption of LPG is
propelled by the demand from emerging countries of Africa and Asia
Pacific. In Africa, around 90% of the total liquefied petroleum usage
is witnessed in the residential sector. According to the World Bank,
the current LPG consumption in West Africa was recorded at 360,000
tons per year.
On
the basis of geography, the global liquefied petroleum gas (LPG)
market is segmented into North America, Asia Pacific, Europe, South
and Central America, and the Middle East and Africa. At present, the
global liquefied petroleum gas (LPG) market is dominated by the
Middle East and Africa, followed by South and Central America, North
America, Europe, and Asia Pacific. The Middle East and Africa segment
is expected to continue its dominance during the forecast period, as
this region boasts of a majority share in global production of LPG
from the non-associated gas source segment.On the other hand, the
U.S. emerged as a net exporter of LPG in 2012 and its supplies are
anticipated to soar with the rising production of LPG from shale gas.
The Asia Pacific liquefied petroleum gas sector stood out as the
largest consumer of LPG in 2013 and countries such as India and China
held a signification portion of the consumption.
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The
global liquefied petroleum gas (LPG) market will continue to
experience good growth in the coming years due to the rising
consumption of autogas and growing fuel consumption in emerging
regions. On the other hand, the global liquefied petroleum gas (LPG)
market will be restrained by the volatility in crude oil prices. This
in turn will lead to LPG price uncertainty.Nevertheless, players in
the global liquefied petroleum gas (LPG) market will benefit from the
expansion of the Panama Canal, increasing trade opportunities, and
the possibility of shale gas production in Latin America and Asia
Pacific. Some of the key players operating in the global liquefied
petroleum gas (LPG) market are SHV Energy, Repsol, Copagaz
Distribuidora De Gas, China Gas Holdings, Origin Energy, Royal Dutch
Shell, and Exxon Mobil.
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Key
Segments of the LPG Market
LPG
Market: Source Analysis
- Refinery
- Associated Gas
- Non-Associated Gas
LPG
Market: End User Analysis
- Residential/Commercial
- Petrochemical and Refinery
- Industrial
- Transportation
- Others
LPG
Market: Regional Analysis
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- South & Central America
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