Propane Market Worth, Share, Key Growth Trends, Major Players, and Forecast, 2024–2028

Propane Market
Propane Market

The Global Propane Market Research Report offers an in-depth analysis of the Propane industry and the economic scenario for business management that offers development and profitability for the key players in the market.

The ‘Global Propane Market’ report, published by Reports and Data, is a comprehensive analysis of the global Propane market, which includes pain-staking research on the industry growth rate during both the historical and forecast periods. The Global Propane Market is forecast to reach USD 115.60 Billion by 2028, according to a new report by Reports and Data. Propane, an organic compound, was discovered in 1857 by Marcellin Berthelot, the French chemist. The compound is produced as a by-product of two other processes, petroleum refining, and natural gas processing. While processing natural gas, it requires removal of propane, butane, and large amounts of ethane from the raw gas for preventing condensation of its volatiles in natural gas pipelines. In addition to that, this compound is also produced in a limited amount by oil refineries as a by-product of cracking petroleum into heating oil or gasoline. In regards to its features, it is an odorless and colorless gas. It undergoes combustion like other alkanes. Its combustion is cleaner as compared to unleaded gasoline or coal. Propane per BTU production of CO2 is as low as natural gas. It burns hotter as compared to diesel fuel or home heating oil due to the very high hydrogen content. Thus, certain advantages of this fuel over coal or unleaded gasoline is one of the mentionable factor boosting the growth of the sector.

In regards to region, North America can be seen to hold a considerable position in the industry. The market position held by the region is attributed to the fact that countries within the region like U.S. is a prominent chemical manufacturer, and the boom in shale gas is supporting the expansion of the sector in this region.

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Top Companies Listed in the Propane Market Report:

BP P.L.C. (British Petroleum), Exxon Mobil, Royal Dutch Shell, Chevron Corp., Sinopec, Total SA, Anadarko Petroleum Corp., Statoil ASA, Eni S.p.A, ConocoPhillips and Altagas.

The report offers:

  • An in-depth overview of the Propane market landscape
  • Assessment of the global industry trends for the historical period of 2017-2018, the current year 2019-2020, and a forecast estimation for the period 2020-2028
  • Overview of the company profiles and product portfolios
  • R&D advancements and technological developments in the Propane industry.
  • Market dynamics, trends, opportunities, and risks
  • Study of the market in terms of revenue and product consumption patterns

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Grade Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)

  • HD5 Propane
  • HD-10 Propane
  • Commercial grade propane

Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)

  • Industrial & Domestic fuel
  • Refrigeration
  • Motor fuel
  • Solvent
  • Others 

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