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Liquefied Petroleum Gas (LPG) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global liquefied petroleum gas (LPG) market reached a value of US$ 128.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 164.4 Billion by 2027, exhibiting a CAGR of 3.8% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Liquefied petroleum gas (LPG) is a clean, non-toxic, renewableand portable energy source, whichfinds numerous domestic and industrial applications. It comprises a mixture of flammable hydrocarbon gases, including propane,butane, and isobutane. It is stored and supplied in large gas cylinders, tanks, and steel vessels. Besides this, it burns readily in the air and has higher heat energy in comparison to natural gas. As a result, LPG finds extensive applications inthe chemical, automotive,household, and manufacturing sectors.

Liquefied Petroleum Gas Market Trends:

The growing global population is resulting in increasing energy consumption across the globe.This, coupled with increasing infrastructural developments across the globe,represents one of the key factors positively influencing the market. Along with this, the growing concerns about carbon emissions and rising pollution levels are leading to the rising adoption of clean energy sources by individuals. Moreover, the rising requirement forLPG as auto emission gas in the automotive industry is contributing to the market growth. Additionally, governments of various countries are spreading awareness and educating the rural population about the importance of substituting traditional sources of energy, such as coal, wood, and kerosene, with LPG.They are also launching favorable policies and offering tax concessions and subsidies to suppliers, which is creating a favorable market outlook. Furthermore, continuous improvements in the extraction and refining technologies for natural gases are strengthening the market growth. Besides this, increasing investments by leading market players in research and development (R&D) activities to introduce more enhanced productsare expected to drive the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global liquefied petroleum gas (LPG) market, along with forecasts at the global, regional, and country levels from 2022-2027. Our report has categorized the market based on source, application, and supply mode.

Breakup by Source:

  • Refinery
  • Associated Gas
  • Non-Associated Gas


Non-associated gas represents the largest market segment due to a significant rise in the production of LPG from non-associated gas sources.

Breakup by Application:

  • Residential
  • Commercial
  • Refinery and Petrochemical
  • Transportation
  • Others


The residentialsector holds the majority of the global liquefied petroleum gas market share due to the increasing use of LPGin space and water heating, cooking, and power generation.

Breakup by Supply Mode:

  • Packaged
  • Bulk and On-site
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
    • Middle East and Africa


Europe exhibits a clear dominance in the market due to the growing awareness among individuals about the reduction of carbon emissions in the region.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Bharat Petroleum Corporation Limited, BP P.L.C., Chevron Corporation, China Gas Holdings Ltd., Exxon Mobil Corporation, Origin Energy Limited, Petroliam Nasional Berhad, Phillips 66 Company, Repsol S.A., Shell PLC, and Valero Energy Corporation.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Source, Application, Supply Mode, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Bharat Petroleum Corporation Limited, BP P.L.C., Chevron Corporation, China Gas Holdings Ltd., Exxon Mobil Corporation, Origin Energy Limited, Petroliam Nasional Berhad, Phillips 66 Company, Repsol S.A., Royal Dutch Shell PLC and Valero Energy Corporation
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Liquefied Petroleum Gas (LPG) Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Source
    6.1    Refinery
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Associated Gas
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Non-Associated Gas
        6.3.1 Market Trends
        6.3.2 Market Forecast
7   Market Breakup by Application
    7.1    Residential
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Commercial 
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Refinery and Petrochemical
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Transportation
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Others
        7.5.1 Market Trends
        7.5.2 Market Forecast
8   Market Breakup by Supply Mode
    8.1    Packaged
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Bulk and On-Site
        8.2.1 Market Trends
        8.2.2 Market Forecast
9   Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10  SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11  Value Chain Analysis
12  Porters Five Forces Analysis

    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13  Price Analysis
14  Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Bharat Petroleum Corporation Limited 
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio 
           14.3.1.3 Financials 
           14.3.1.4 SWOT Analysis
        14.3.2    BP P.L.C.
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
           14.3.2.3 Financials 
           14.3.2.4 SWOT Analysis
        14.3.3    Chevron Corporation
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio 
           14.3.3.3 Financials 
           14.3.3.4 SWOT Analysis
        14.3.4    China Gas Holdings Ltd.
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio 
           14.3.4.3 Financials 
        14.3.5    Exxon Mobil Corporation
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio 
           14.3.5.3 Financials 
           14.3.5.4 SWOT Analysis
        14.3.6    Origin Energy Limited
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio 
           14.3.6.3 Financials
           14.3.6.4 SWOT Analysis
        14.3.7    Petroliam Nasional Berhad
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
           14.3.7.3 SWOT Analysis
        14.3.8    Phillips 66 Company
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio 
           14.3.8.3 Financials
           14.3.8.4 SWOT Analysis
        14.3.9    Repsol S.A.
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
           14.3.9.3 Financials
        14.3.10    Royal Dutch Shell PLC
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio 
           14.3.10.3 Financials
        14.3.11    Valero Energy Corporation
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio 
           14.3.11.3 Financials
           14.3.11.4 SWOT Analysis

List of Figures

Figure 1: Global: Liquefied Petroleum Gas Market: Major Drivers and Challenges
Figure 2: Global: Liquefied Petroleum Gas Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Liquefied Petroleum Gas Market: Breakup by Source (in %), 2021
Figure 4: Global: Liquefied Petroleum Gas Market: Breakup by Application (in %), 2021
Figure 5: Global: Liquefied Petroleum Gas Market: Breakup by Supply Mode (in %), 2021
Figure 6: Global: Liquefied Petroleum Gas Market: Breakup by Region (in %), 2021
Figure 7: Global: Liquefied Petroleum Gas Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 8: Global: Liquefied Petroleum Gas (Refinery) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Liquefied Petroleum Gas (Refinery) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Liquefied Petroleum Gas (Associated Gas) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Liquefied Petroleum Gas (Associated Gas) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Liquefied Petroleum Gas (Non-Associated Gas) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Liquefied Petroleum Gas (Non-Associated Gas) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Liquefied Petroleum Gas (Residential) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Liquefied Petroleum Gas (Residential) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Liquefied Petroleum Gas (Commercial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Liquefied Petroleum Gas (Commercial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Liquefied Petroleum Gas (Refinery and Petrochemical) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Liquefied Petroleum Gas (Refinery and Petrochemical) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Liquefied Petroleum Gas (Transportation) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Liquefied Petroleum Gas (Transportation) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Liquefied Petroleum Gas (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Liquefied Petroleum Gas (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Liquefied Petroleum Gas (Packaged) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Liquefied Petroleum Gas (Packaged) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Liquefied Petroleum Gas (Bulk and On-Site) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Liquefied Petroleum Gas (Bulk and On-Site) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: North America: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: North America: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: United States: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: United States: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Canada: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Canada: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Asia Pacific: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Asia Pacific: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: China: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: China: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Japan: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Japan: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: India: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: India: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: South Korea: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: South Korea: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Australia: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Australia: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Indonesia: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Indonesia: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Others: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Others: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Europe: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Europe: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Germany: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Germany: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: France: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: France: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: United Kingdom: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: United Kingdom: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Italy: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Italy: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Spain: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Spain: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Russia: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Russia: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Others: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Others: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Latin America: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Latin America: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Brazil: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Brazil: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Mexico: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Mexico: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Others: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Others: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Middle East and Africa: Liquefied Petroleum Gas Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Middle East and Africa: Liquefied Petroleum Gas Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Global: Liquefied Petroleum Gas Industry: SWOT Analysis
Figure 77: Global: Liquefied Petroleum Gas Industry: Value Chain Analysis
Figure 78: Global: Liquefied Petroleum Gas Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Liquefied Petroleum Gas Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Liquefied Petroleum Gas Market Forecast: Breakup by Source (in Million US$), 2022-2027
Table 3: Global: Liquefied Petroleum Gas Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 4: Global: Liquefied Petroleum Gas Market Forecast: Breakup by Supply Mode (in Million US$), 2022-2027
Table 5: Global: Liquefied Petroleum Gas Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Liquefied Petroleum Gas Market: Competitive Structure
Table 7: Global: Liquefied Petroleum Gas Market: Key Players


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Key Questions Answered in This Report

The global liquefied petroleum gas (LPG) market was valued at US$ 128.4 Billion in 2021.

We expect the global liquefied petroleum gas (LPG) market to exhibit a CAGR of 3.8% during 2022-2027.

The rising environmental concerns, along with the increasing requirement for LPG as auto emission gas
in the automotive industry, are primarily driving the global liquefied petroleum gas (LPG) market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown
regulations across several nations resulting in temporary closure of numerous end-use industries for
Liquefied Petroleum Gas (LPG).

Based on the source, the global liquefied petroleum gas (LPG) market has been segmented into refinery,
associated gas, and non-associated gas. Currently, non-associated gas holds the majority of the total
market share.

Based on the application, the global liquefied petroleum gas (LPG) market can be divided into
residential, commercial, refinery and petrochemical, transportation, and others. Among these, the
residential sector currently exhibits a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin
America, and Middle East and Africa, where Europe currently dominates the global market.

Some of the major players in the global liquefied petroleum gas (LPG) market include Bharat Petroleum
Corporation Limited, BP P.L.C., Chevron Corporation, China Gas Holdings Ltd., Exxon Mobil Corporation,
Origin Energy Limited, Petroliam Nasional Berhad, Phillips 66 Company, Repsol S.A., Royal Dutch Shell
PLC, and Valero Energy Corporation.

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