Liquefied Petroleum Gas (LPG) Market to Record an Exponential CAGR by 2024


A new Transparency Market Research report states that the global liquefied petroleum gas (LPG) market stood at US$233.83 bn in 2013 and is predicted to reach US$299.05 bn by 2020. It is predicted to expand at a CAGR of 3.40% from 2014 to 2023. The title of the report is, “Liquefied Petroleum Gas (LPG) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”

Read Report Overview @

Liquid petroleum gas (LPG) is also called referred to as butane or propane and is a flammable mixture made composed of a number of hydrocarbon gases. It is utilized as a fuel within heating appliances, vehicles, and cooking equipment, among others. This gas, when utilized as a vehicle fuel, is often known as auto gas. This gas is extensively utilized as a refrigerant and an aerosol propellant and replaces chlorofluorocarbons for reducing the damage caused to the ozone layers. It has a number of other uses, especially its utilization in cylinders across various markets in the form of a fuel container in the sectors of hospitality, agriculture, recreation, construction, fishing, sailing, and calefaction. It also serves as a fuel for central heating, water heating, and cooking and is extremely cost-effective in nature.

The report states that the rising consumption of auto gas has resulted in the increased utilization of LPG, hence boosting market growth. In addition, the increasing population base in regions such as that of Latin America, Asia Pacific, and Africa utilizing easily available and cheap LPG in the form of fuel is also stimulating the growth of the market. The rising trade opportunities owing to the expansion of the Panama Canal and the predictable production of shale gas within regions of Latin America and Asia Pacific are amongst the prime growth opportunities in the market for LPG. On the other hand, the unpredictable prices of crude oil result in price uncertainty of LPG prices, thus restraining market growth.

In terms of source, the report segments the market for LPG into associated gas, refinery, and non-associated gas. Amongst these, the segment of non-associated gas is predicted to take the largest share in the forecast horizon. In terms of end user, the market has been segmented into petrochemical and refinery, residential and commercial, transportation, industrial, and others. Amongst these, the residential and commercial segment led the market in 2013 and represented a share of more than 60% in the market. In this segment, LPG gas is majorly utilized as a cooking fuel and also in lighting and heating.

On the basis of geography, the report segments the market into Europe, North America, the Middle East and Africa, Asia Pacific, and South and Central America. Amongst these, the Middle East is the largest producer of LPG. On the other hand, the U.S. in North America emerged as the a net importer in 2012 and the production of LPG in North America is predicted to rise exponentially. In addition, within the U.S., the surplus production of LPG will be routed to the region of Latin America in the coming years owing to the rising demand from the commercial and domestic sectors.

Request to view Sample Report:

As mentioned in the report, the prime players operating in the market for LPG are Exxon Mobil Corporation, British Petroleum plc., Kleenheat Gas Pty Limited, Origin Energy, Kleenheat Gas Pty Limited, Copagaz Distribuidora De Gas Ltda, SHV Energy N.V., and Repsol S.A., among others.




About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact

Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com


Comments

Post a Comment

Popular posts from this blog

Wood Adhesives and Binders Market to Perceive Substantial Growth During 2020 The competitive landscape of global wood adhesive and binders market is fragmented, as only tope four players are responsible for 36% of the total market, as analyzed by Transparency Market Research (TMR). As the market requires huge amount of capital and significant high setup cost some of the key players play a noticeable role. Henkel AG, Dow Chemical Company, 3M Company and Co., KGaA, HB Fuller, and 3M Company are some of the key players analyzed in the report. The global wood adhesive and binders market is consolidated due to the high cost involved to customize products by using innovative technologies. The competition is also fierce due to limited number of players competing against each other. Although new player with strong financial support will pave their way in bio based adhesive formulations. Read Report Overview @ https://www.transparencymarketresearch.com/wood-adhesives-binders-market.html As per the analysis done by the TMR authors, the global wood adhesive and binders market is estimated to reach a valuation of US$ 17.7 bn by the end of the forecast period in 2020. The CAGR is projected to expand at 4.4% between 2014 to 2020. The furniture and subcomponents segment under the application category is estimated to lead the market by attaining 5% CAGR during the forecast period. As per geography, North America leads the global market. The region is witness larger consumption of wood adhesive and binders market in the recent past. Increasing Demand in Construction Industry Could Boost the Market Wood adhesive and binders have a significant role in making cabinets, windows, doors, flooring, plywood, and various other structural panels. The use of wood adhesive and binders is widely seen in furniture and construction areas. As the construction market is estimated to increase at a CAGR of 4.7% during 2016 to 2020, which will significantly boost the demand for wood adhesive and binders during the same period. Rising population in emerging nations, require residential facilities thus propelling the construction and infrastructure market, which will further boost the demand for wood adhesive and binders market. Asia Pacific being the major region where building and construction industry have significantly growing 2015 to 2020. Environmental Concerns May Restrain the Wood Adhesive and Binders Market to Grow at its Full Potential Petroleum based feedstock like vinyl, styrene butadiene, urea, acetate, phenols, acrylates, and polyurethanes helps in manufacturing wood adhesive and binders. As these petroleum feedstock’s are highly dependent on crude oil, even a minute fluctuation in the crude oil prices affects the raw material required to manufacture wood adhesive and binders. Request to view Sample Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=3045 Additionally, with the emission of volatile organic compounds (VOC) while manufacturing wood adhesive and binders highly affects the environment and create various health risks. The increasing environmental concerns may restrict the market from attaining its full potential. Thus to mitigate these harmful effects number of governments are bring regulation to restrict the amount of gasses releases while manufacturing adhesives and binders which will help the market to grow in coming years. About Us Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports. Contact Transparency Market Research State Tower, 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free: 866-552-3453 Email: sales@transparencymarketresearch.com Website: http://www.transparencymarketresearch.com

The competitive landscape of global wood adhesive and binders market is fragmented, as only tope four players are responsible for 36% of the total market, as analyzed by Transparency Market Research (TMR). As the market requires huge amount of capital and significant high setup cost some of the key players play a noticeable role. Henkel AG, Dow Chemical Company, 3M Company and Co., KGaA, HB Fuller, and 3M Company are some of the key players analyzed in the report. The global wood adhesive and binders market is consolidated due to the high cost involved to customize products by using innovative technologies. The competition is also fierce due to limited number of players competing against each other. Although new player with strong financial support will pave their way in bio based adhesive formulations. Read Report Overview @ https://www.transparencymarketresearch.com/wood-adhesives-binders-market.html As per the analysis done by the TMR authors, the glob...
Keep reading

High-performance Anti-corrosion Coatings Market to Record an Exponential CAGR by 2024

The global high-performance anti-corrosion coatings market was valued at US$ 12.60 Bn in 2017 and is anticipated to expand at a CAGR of 5.9% from 2018 to 2026, according to a new report titled ‘High-performance Anti-corrosion Coatings Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR). The global high-performance anti-corrosion coatings market is driven by growth of the global oil & gas industry. Asia Pacific accounts for a major share of the global market, due to growth of construction, marine, and oil & gas industries in the region. Read Report Overview @ https://www.transparencymarketresearch.com/high-performance-anticorrosion-coatings-market.html The number of oil & gas drilling and exploration activities has increased in the last few years. The Gulf of Mexico, Southeast Asia, and North Sea are currently rich in oil & gas resources and they have a large ...
Keep reading

Water Pump Market - Global Industry Analysis , Share 2023 | TMR

Albany, New York, May 29, 2017: Transparency Market Research (TMR) announces a new report on the global water pump market. The report, titled ‘Water Pump Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2023,’ profiles the historical development of the market to derive useful patterns regarding the way the market has developed in the recent past. Based on a solid database of past and present data, reliable projections regarding the future growth trajectory of the global water pump market have been provided in the report. The report provides readers with a comprehensive picture of the global water pump market, making it a must-have accessory for interested parties in the market. Browse Market Research Report @ http://www.transparencymarketresearch.com/water-pump-market.html Water pumps have been a necessity in human development and have played a key role in the development of human civilization itself. In recent years, the global w...
Keep reading