Propane Market Size, Share, Report, Analysis, Trends & Forecast to 2026

According to Stratistics MRC, the Global Propane Market is expected to grow at a CAGR of 5.5% during the forecast period.

Gaithersburg, MD, US - June 14, 2018 /MarketersMedia/ —

Factors such as rising demand of propane from petrochemical industry, high demand of propane from automobile industry and increasing demand of LPG from growing customers are propelling the market growth. However, a fluctuation in petroleum and crude oil prices is restraining the growth of the market. Usage of propane in power plants and rising economies such as China and India through increased industrialization and profitable petrochemical industry boosts the market.

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Propane acts as a gas found inside natural gas and petroleum deposits. To attain propane, it should be detached from natural gas and crude oil while they are processed for their final uses. Propane is called a fossil fuel since it was produced hundreds of millions of years ago from the remnants of tiny sea animals and plants. While the plants and animals died, they sink towards the bottom of the oceans and were buried via layers of sediment and sand that turned into rock. It is used by the residential, commercial, transportation and chemical & refinery sectors.

By end-user, the industrial segment is driven by rising demand for manufactured goods. In Industrial segment, metal employees utilize small tanks for cutting torches. Semi-portable and portable heaters that run on the gas, maintain construction and road workers warm in winters. It is also used to heat asphalt for highway construction and repairs.

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Based on geography, Asia Pacific is anticipated to dominate the largest market share during the forecast period due to the booming transportation industry and increasing population. Moreover, the growing manufacturing and infrastructure growth activities in this region lead the propane market.

Some of the key players in Propane Market include Lykins Companies, Inc., Ferrellgas Partners, L.P., PetroChina Company Limited, AmeriGas, British Petroleum, Sinopec, Valero Energy Corporation, Evonik Industries, Marsh LP Gas Company Inc., Sparlingss Propane Co. Ltd., ThompsonGas, Reliance Industries Limited, Royal Dutch Shell plc, BASF SE, PDVSA, Exxon Mobil Corporation, Chevron Corporation, Total S.A., Statoil ASA, Eni S.p.A and ConocoPhillips Company.

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Products Covered:
• Oil Refining
• Natural Gas Processing

End-Users Covered:
• Commercial
• Transportation
• Chemicals and Refineries
• Industrial
• Residential
• Agriculture

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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About Stratistics MRC
We offer wide spectrum of research and consulting services with in-depth knowledge of different industries. We are known for customized research services, consulting services and Full Time Equivalent (FTE) services in the research world. We explore the market trends and draw our insights with valid assessments and analytical views. We use advanced techniques and tools among the quantitative and qualitative methodologies to identify the market trends.
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Email: info@strategymrc.com
Organization: Stratistics Market Research Consulting Pvt Ltd

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Release ID: 360003