Propane Market Research Report - Forecast to 2023 Industry Survey, Growth, Competitive Landscape and Forecasts to 2023 PREPARED BY Market Research Future (Part of Wantstats Research & Media Pvt.) Ltd.)

Propane Market Research Report- Forecast to 2023 Propane being a clean and efficient feedstock to be used in the production of fuel and polymer grade propylene. Classified under liquified petroleum gas (LPG), propane is extensively used as a fuel for cooking, heating, and transportation. Moreover, Propane also finds wide acceptance in end-use industries like process industry, transportation, and agriculture, among others. Resultantly, Propane witnesses a huge demand, worldwide. The global propane demand is expected to reach over 9.5 BN gallons by Also, usages of propane in residential and commercial construction escalates the market on the global platform. Acknowledging the exponential traction, the market is witnessing currently, Market Research Future (MRFR) in its recently published a study report asserts that the global Propane market is expected to grow colossally by 2023, registering a phenomenal CAGR throughout the forecast period (2017 – 2023). Additional factors that are attributing to the growth of the market include the increasing residential and construction activities led by the ever-increasing population and the rapid industrialization, worldwide. Moreover, the rapidly improving global economy fosters the growth of the market, increasing consumers’ purchasing power. Demand for propane as an automotive and transportation fuel is another key driving force propelling the growth of the market. Simultaneously, factors such as the rising scrutiny on traditional mobility fuels and demand for low emission sustainable fuels is fostering the growth of the propane market, driving the demand in the transportation sector. Propane Market - Overview

Propane Market Research Report- Forecast to 2023 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. View Full Press Segmental Analysis

Propane Market Research Report- Forecast to 2023 Regional Outlook Global Propane Market has been analyzed with respect to five key regions—North America, Europe, Asia- Pacific, Latin America, and the Middle East & Africa. The market in Asia-Pacific accounted for the largest market share of the Propane Market and is expected to grow at a highest CAGR during the review period. The market growth can be attributed to growing construction industry with increasing investments in residential and commercial construction to meet the rising demand for modern residences and infrastructure. Besides, the increasing demand for polypropylene in the region and investments in new propane dehydrogenation projects is expected to drive the demand for Propane in the region. For instance, in January 2019, BASF and Adani group signed an agreement to establish a joint venture worth USD 2.2 billion for producing C3 chemicals in Gujarat, which will include a propane dehydrogenation plant along with other production units. Hence, the latter investments along with the rapid urbanization in Asia- Pacific is expected to boost the Propane demand during the forecast period. The North American market trails behind Asia-Pacific in terms of consumption, the regaining pace of construction sector in the US and the abundance of shale gas in the region is the key trend driving the demand for Propane in North America. Though witnessing a slow demand, the European market is trailing behind North America. The demand for Propane in the region can be attributed towards the growing emission norms with respect to the traditional combustion engines and increasing demand for clean and efficient fuel. The market in the Middle East & Africa and Latin America are likely to witness substantial growth during the review period owing to the growing construction industry in the regions. The lump sum investments in the construction industry across the G.CC is expected to drive the demand for Propane in the region.

Propane Market Research Report- Forecast to 2023 Major Players in this Research Propane Market Prominent Players: 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) Canadian Natural (Canada) Get a Free

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