Propane Market Research Report – Global Forecast till 2027

Propane Market: Information by End-use Industry (Residential Construction, Commercial Construction, Automotive and Transportations, Process Industry), and Region (Asia-Pacific, North America, Europe, Latin America, and Others) — Global Forecast till 2027

ID: MRFR/CnM/5979-HCR | February 2021 | Region: Global | 140 pages

Market Overview:

The global propane demand is expected to reach over 9.5 billion gallons by 2023.


Propane is a clean and efficient source of fuel, it is classified under liquified petroleum gas (LPG). It is primarily used for producing fuel and polymer grade propylene. It is used in both liquid and gaseous form. At atmospheric conditions, propane is in gaseous state, whereas, under pressurized conditions it is in liquid state. Most of the propane is used as a fuel for cooking, heating, and transportation with wide acceptance in end-use industries like process industry, transportation, and agriculture among others.


Some of the protuberant demand side drivers for propane includes the increasing demand for propane as a clean source of heating and cooking fuel in residential and commercial construction. Thus, increasing residential and construction activities in the developing and developed regions is expected to propel the demand for propane. For instance, the resurrecting construction industry in the US and increasing infrastructural investments in Asia-Pacific and Middle East & Africa. Thus, to suffice the demand for cooking and heating fuel in new constructions is expected to bolster the demand for propane. Demand for propane as an automotive and transportation fuel is another demand driver which expected to propel the propane demand in the global market. With rising scrutiny on traditional mobility fuels and demand for low emission sustainable fuels is expected to drive the demand for propane in the transportation sector.


Supply side drivers identified in the global propane market includes upcoming and expansion of propane dehydrogenation (PDH) plants globally by major petrochemical producers. Propane is the key raw material for manufacturing polymer grade propylene. Thus, an ever-increasing demand polypropylene has witnessed new propane dehydrogenation capacities across the globe, for instance, in June 2018, Ineos announced their plans for new PDH plant of 750,000 TPA in Europe. Hence, the PDH expansions across the globe is expected to boost propane production during the forecast period. In addition, tax exemption on propane for agricultural fuels is also expected to drive the demand for propane during the forecast period.


However, the fluctuations in the crude oil prices might hamper the market’s supply demand scenario during the forecast period.


Global Propane Market Share, by Type, 2017 (%)


Propane Market


Source: MRFR Analysis


Regional Analysis


Asia-Pacific market accounted for the largest market share of the global propane market and is expected to register a healthy CAGR during the review period. The demand in the region can be attributed towards the increasing consumption of polypropylene along with the rising urbanization and industrialization in the region.


North America accounted for the second-largest market share in terms of volume accounting for nearly 21% of the total propane demand. The major drivers for North America include demand for clean and efficient fuel across various end-use industries and raw material advantage.


The European market is trailing behind North America the region relies on imports from the Middle East and the US, the demand in the region is expected to fluctuate with intervention of naphtha and a tight supply of propane in the region.


The market in the Middle East & Africa and Latin America market is expected to grow at a significant rate during the review period on account of increasing investments in the construction sector.


Segmentation


The global propane market has been segmented by end-use industry, and region.


Based on end-use industry, the market has been divided into process industry, residential construction, commercial construction, agriculture, industrial machinery, automotive & transportation and others.


By region, the market has been categorized as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.


Key Players


Some of the key players in the global propane are Ferrellgas (US), Royal Dutch Shell plc (Netherlands), Exxon Mobil Corporation (US), Chevron Corporation (US), Equinor ASA (Norway), Eni SpA (Italy), ConocoPhillips Company (US), Chesapeake (US), Anadarko Petroleum Corporation (US), and Canadian Natural (Canada)


Intended Audience



  • Propane manufacturers

  • Polymer Producers

  • Traders and distributors of Propane

  • Research and development institutes

  • Potential investors

  • Raw material suppliers



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: 9.5 Billion gallons
  CAGR   Substantial Value
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   Value (USD Billion)
  Forecast Units   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By end-use industry, and region.
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Ferrellgas (US), Royal Dutch Shell plc (Netherlands), Exxon Mobil Corporation (US), Chevron Corporation (US), Equinor ASA (Norway), Eni SpA (Italy), ConocoPhillips Company (US), Chesapeake (US), Anadarko Petroleum Corporation (US), and Canadian Natural (Canada)
  Key Market Opportunities   The global propane market is deterred by the volatile prices of crude oil.
  Key Market Drivers   Need for a clean source of fuel in residential and commercial applications is the major driver of the global propane market.


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Frequently Asked Questions (FAQ) :


The global propane market demand can exceed 9.5 billion gallons by 2023.

Need for a clean source of fuel in residential and commercial applications is the major driver of the global propane market.

The global propane market is deterred by the volatile prices of crude oil.

APAC can command a high demand share in the global propane market owing to massive need for polypropylene (PP) across industries.

Equinor ASA, Chevron Corporation, Eni SpA, Chesapeake, Ferrellgas, Royal Dutch Shell plc, Canadian Natural, Anadarko Petroleum Corporation, Exxon Mobil Corporation, and ConocoPhillips Company are major players of the global propane market.

TABLE OF CONTENTS

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Five Forces Analysis

4.1.1 Threat of New Entrants

4.1.2 Bargaining power of buyers

4.1.3 Threat of substitutes

4.1.4 Segment rivalry

4.2 Value Chain/Supply Chain of Global Propane Market

4.3 Pricing Analysis

5 Industry Overview of Global Propane Market

5.1 Introduction

5.2 Growth Drivers

5.3 Impact analysis

5.4 Market Challenges

5.5 Impact analysis

6 Market Trends

6.1 Introduction

6.2 Growth Trends

6.3 Impact analysis

7. Global Propane Market by End-use Industry

7.1 Introduction

7.2 Residential Construction

7.2.1 Market Estimates & Forecast, 2020-2027

7.2.2 Market Estimates & Forecast by Region, 2020-2027

7.3 Commercial Construction

7.3.1 Market Estimates & Forecast, 2020-2027

7.3.2 Market Estimates & Forecast by Region, 2020-2027

7.4 Process Industry

7.4.1 Market Estimates & Forecast, 2020-2027

7.4.2 Market Estimates & Forecast by Region, 2020-2027

7.5 Industrial Machinery

7.5.1 Market Estimates & Forecast, 2020-2027

7.5.2 Market Estimates & Forecast by Region, 2020-2027

7.6 Agriculture

7.6.1 Market Estimates & Forecast, 2020-2027

7.6.2 Market Estimates & Forecast by Region, 2020-2027

7.7 Automotive & Transportation

7.7.1 Market Estimates & Forecast, 2020-2027

7.7.2 Market Estimates & Forecast by Region, 2020-2027

7.8 Others

7.8.1 Market Estimates & Forecast, 2020-2027

7.8.2 Market Estimates & Forecast by Region, 2020-2027

8. Global Propane Market by Region

8.1 Introduction

8.2 North America

8.2.1 Market Estimates & Forecast, 2020-2027

8.2.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.2.3 US

8.2.3.1 Market Estimates & Forecast, 2020-2027

8.2.3.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.2.4 Canada

8.2.4.1 Market Estimates & Forecast, 2020-2027

8.2.4.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.3 Europe

8.3.1 Market Estimates & Forecast, 2020-2027

8.3.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.3.3 Germany

8.3.3.1 Market Estimates & Forecast, 2020-2027

8.3.3.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.3.4. France

8.3.4.1 Market Estimates & Forecast, 2020-2027

8.3.4.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.3.5 Italy

8.3.5.1 Market Estimates & Forecast, 2020-2027

8.3.5.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.3.6 Spain

8.3.6.1 Market Estimates & Forecast, 2020-2027

8.3.6.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.3.7 UK

8.3.7.1 Market Estimates & Forecast, 2020-2027

8.3.7.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.3.8 Russia

8.3.8.1 Market Estimates & Forecast, 2020-2027

8.3.8.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.3.9 Poland

8.3.9.1 Market Estimates & Forecast, 2020-2027

8.3.9.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.4 Asia Pacific

8.4.1 Market Estimates & Forecast, 2020-2027

8.4.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.4.3 China

8.4.3.1 Market Estimates & Forecast, 2020-2027

8.4.3.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.4.4 India

8.4.4.1 Market Estimates & Forecast, 2020-2027

8.4.4.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.4.5 Japan

8.4.5.1 Market Estimates & Forecast, 2020-2027

8.4.5.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.4.6 Australia

8.4.6.1 Market Estimates & Forecast, 2020-2027

8.4.6.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.4.7 New Zealand

8.4.7.1 Market Estimates & Forecast, 2020-2027

8.4.7.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.4.8 Rest of Asia Pacific

8.4.8.1 Market Estimates & Forecast, 2020-2027

8.4.8.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.5 Middle East & Africa

8.5.1 Market Estimates & Forecast, 2020-2027

8.5.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.5.3 Turkey

8.5.3.1 Market Estimates & Forecast, 2020-2027

8.5.3.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.5.4 Israel

8.5.4.1 Market Estimates & Forecast, 2020-2027

8.5.4.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.5.5 North Africa

8.5.5.1 Market Estimates & Forecast, 2020-2027

8.5.5.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.5.6 GCC

8.5.6.1 Market Estimates & Forecast, 2020-2027

8.5.6.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.5.7 Rest of Middle East & Africa

8.5.7.1 Market Estimates & Forecast, 2020-2027

8.5.7.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.6 Latin America

8.6.1 Market Estimates & Forecast, 2020-2027

8.6.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.6.3 Brazil

8.6.3.1 Market Estimates & Forecast, 2020-2027

8.6.3.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.6.4 Argentina

8.6.4.1 Market Estimates & Forecast, 2020-2027

8.6.4.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.6.5 Mexico

8.6.5.1 Market Estimates & Forecast, 2020-2027

8.6.5.2 Market Estimates & Forecast by End-use Industry, 2020-2027

8.6.6 Rest of Latin America

8.6.6.1 Market Estimates & Forecast, 2020-2027

8.6.6.2 Market Estimates & Forecast by End-use Industry, 2020-2027

9. Company Landscape

10. Company Profiles

10.1 Ferrellgas

10.1.1 Company Overview

10.1.2 End-use Industry/Business Segment Overview

10.1.3 Financial Updates

10.1.4 Key Developments

10.2 Royal Dutch Shell plc

10.2.1 Company Overview

10.2.2 End-use Industry/Business Segment Overview

10.2.3 Financial Updates

10.2.4 Key Developments

10.3 Exxon Mobil Corporation

10.3.1 Company Overview

10.3.2 End-use Industry/Business Segment Overview

10.3.3 Financial Updates

10.3.4 Key Developments

10.4 Chevron Corporation

10.4.1 Company Overview

10.4.2 End-use Industry/Business Segment Overview

10.4.3 Financial Updates

10.4.4 Key Developments

10.5 Eni SpA

10.5.1 Company Overview

10.5.2 End-use Industry/Business Segment Overview

10.5.3 Financial Updates

10.5.4 Key Developments

10.6 ConocoPhillips Company

10.6.1 Company Overview

10.6.2 End-use Industry/Business Segment Overview

10.6.3 Financial Updates

10.6.4 Key Developments

10.7 Chesapeake

10.7.1 Company Overview

10.7.2 End-use Industry/Business Segment Overview

10.7.3 Financial Updates

10.7.4 Key Developments

10.8 Anadarko Petroleum Corporation

10.8.1 Company Overview

10.8.2 End-use Industry/Business Segment Overview

10.8.3 Financial Updates

10.8.4 Key Developments

10.9 Canadian Natural

10.9.1 Company Overview

10.9.2 End-use Industry/Business Segment Overview

10.9.3 Financial Updates

10.9.4 Key Developments

10.10 BP

10.10.1 Company Overview

10.10.2 End-use Industry/Business Segment Overview

10.10.3 Financial Updates

10.10.4 Key Developments

11 Conclusion

LIST OF TABLES

Table 1 World Population by Major Regions (2020 To 2030)

Table 2 Global Propane Market: By Region, 2020-2027

Table 3 North America Propane Market: By Country, 2020-2027

Table 4 Europe Propane Market: By Country, 2020-2027

Table 5 Asia-Pacific Propane Market: By Country, 2020-2027

Table 6 Middle East & Africa Propane Market: By Country, 2020-2027

Table 7 Latin America Propane Market: By Country, 2020-2027

Table 8 Global Propane by End-use Industry Market: By Regions, 2020-2027

Table 9 North America Propane by End-use Industry Market: By Country, 2020-2027

Table 10 Europe Propane by End-use Industry Market: By Country, 2020-2027

Table 11 Asia-Pacific Propane by End-use Industry Market: By Country, 2020-2027

Table 12 Middle East & Africa Propane by End-use Industry Market: By Country, 2020-2027

Table 13 Latin America Propane by End-use Industry Market: By Country, 2020-2027

Table 14 Global End-use Industry Market: By Region, 2020-2027

Table 15 North America Propane Market, By Country

Table 16 North America Propane Market, By End-use Industry

Table 17 Europe: Propane Market, By Country

Table 18 Europe: Propane Market, By End-use Industry

Table 19 Asia-Pacific: Propane Market, By Country

Table 20 Asia-Pacific: Propane Market, By End-use Industry

Table 21 Middle East & Africa: Propane Market, By Country

Table 22 Middle East & Africa: Propane Market, By End-use Industry

Table 23 Latin America: Propane Market, By Country

Table 24 Latin America Propane Market, By End-use Industry

LIST OF FIGURES

FIGURE 1 Global Propane Market segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Five Forces Analysis of Global Propane Market

FIGURE 4 Value Chain of Global Propane Market

FIGURE 5 Share of Global Propane Market in 2020, by country (in %)

FIGURE 6 Global Propane Market, 2020-2027,

FIGURE 7 Sub segments of End-use Industry

FIGURE 8 Global Propane Market size by End-use Industry, 2020

FIGURE 9 Share of Global Propane Market by End-use Industry, 2020 to 2027