Propane Market Detailed Analysis For Industry Size, Share And Future Assumptions For 2025

Propane Market
San Francisco, 18 May 2020: The Report Propane Market Size, Share & Trends Analysis Report By End-Use (Industrial, Commercial, Residential, Transportation, Agriculture, Chemicals and Refineries), By Region, And Segment Forecasts, 2018 - 2025
The global propane market size is expected to reach USD 106.9 billion by 2025, growing at a CAGR of 3.5%, according to a new report by Grand View Research, Inc. Globally, increasing propane–based agricultural engine has been a major factor driving market growth. Also, growing demand for clean burning fuels due to strengthening of regulations and Paris Climate Agreement has led to the increased utilization in households globally.
Depletion of non-renewable resources; crude oil and increasing environmental concerns have invigorated research of various innovative sustainable technologies that employ bio-based raw materials for production. Strengthening governmental and federal regulations which are likely to restrict traditional processing from non-renewable resources can be overwhelmed using innovative sustainable technologies.
Industrial was the largest end-use category in 2016 .and is expected to maintain a comparatively high growth rate over the forecast period. Chemicals and refinery were the primary market movers and achieved a share of over 14% in 2016.
In U.K., LPG supplied to restaurants or commercial food establishments are 100% propane thus every restaurant and hotel, even street vendors are preparing food using this gas as fuel. Apart from cooking, it is also utilized for space and water heating in commercial establishments which are also expected to boost its demand over the forecast period.
Access Research Report of Propane Market @ https://www.grandviewresearch.com/industry-analysis/propane-market
Further key findings from the report suggest:
  • Globally, propane volume exceeded 195 million tons in 2016 and is expected to grow at a CAGR of 3.0% from 2017 to 2025
  • Global demand in commercial end-use exceed 50 million in 2016 and is expected to observe the fastest growth with an estimated CAGR of 3.2% from 2017 to 2025. In North America, a large number of restaurants are adopting propane gas for cooking.
  • Asia Pacific is projected to be the fastest growing region over the future course. Developments in major regional economies, particularly in industrial manufacturing, has attracted western companies to establish production capabilities in the region.
  • India’s propane consumption is expected to grow at a CAGR of over 10%, which is mainly attributable to growing demand from industrial and commercial sectors.
  • Key players include in the propane market are: including ExxonMobil, BP, Chevron Corp., Royal Dutch Shell, Total SA and Sinopec dominated the industry while accounting for over 60% of the total volume in 2015
  • Companies are extensively involved in M&As and capacity expansions to improve their global footprint and thereby capture greater market share. Establishing supply agreements with retailers is a key determinant for manufacturer’s profitability
Browse more reports of this category by Grand View Research at: https://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
Grand View Research has segmented the global propane market on the basis of end-use and region:
Propane End-Use Outlook (Volume, Million Tons; Revenue, USD Billion, 2014 - 2025)
  • Industrial
  • Commercial
  • Residential
  • Transportation
  • Agriculture
  • Chemicals and Refineries 
Propane Regional Outlook (Volume, Million Tons; Revenue, USD Billion, 2014 - 2025)
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information:www.grandviewresearch.com

Comments

Post a Comment

Popular posts from this blog

Asia Pacific PoC Diagnostics Market Growth Opportunities, Industry Analysis And Forecast: Grand View Research Inc.

Image
San Francisco, 18 March 2020 :  The Report   Asia Pacific PoC Diagnostics Market  Analysis And Segment Forecasts To 2020 The Asia Pacific point of care (PoC) diagnostics market is expected to reach USD 5,427.1 million by 2020, according to a new study by Grand View Research, Inc. Growing base of geriatric population and the ability to render immediate results and improve patient care coupled with rising market penetration of PACS (picture archiving and communication systems) and EMR (electronic medical records) are expected to drive demand over the next six years. Skilled staff shortages, especially pertaining to the field of diagnostics are also expected to accelerate the market penetration rates of PoC products, by expediting lab automation processes. Rising demand for home healthcare and other healthcare establishments catering to the elderly population and initiatives undertaken by governments to shorten hospital stays by establishing out-patient care models are also expect
Read more

Food Additives Market Size & Share Hit USD 55.53 Billion By 2022 : Grand View Research Inc.

Image
San Francisco, 17 October 2019:   The Report   Global Food Additives Market   Analysis By Product Flavors & Enhancers (Natural, Artificial), Sweeteners (High Intensity, HFCS), Enzymes, Emulsifiers (Mono, Di-Glycerides, Lecithin, Stearoyl Lactylates, Sorbitan Esters), Shelf-life Stabilizers, Fat Replacers (Protein, Starch)] And Segment Forecast To 2022 Global food additives market is expected to reach USD 55.53 billion by 2022, according to a new study by Grand View Research, Inc. Food & beverage industry growth in BRICS and Middle East on account of rising domestic consumption and increasing foreign direct investments is expected to augment market growth. Asia Pacific is expected to be one of the most promising markets on account of growing domestic consumption in China and India owing to population growth and new product launches by food & beverage manufacturers. Availability of raw materials such as sorbitol and lactic acid in China, Indonesia, and Malaysia in light o
Read more

Integration Platform as a Service Market Valuation Is Expected To Exceed USD 2.70 Billion By 2025: Grand View Research Inc.

Image
San Francisco, 18 March 2020 :  The Report   Integration Platform as a Service (IPaaS) Market  Analysis By Integration Type (API, Process, Application, Data), By Services, By Deployment (Cloud, On-Premise, Hybrid) By Region, And Segment Forecasts, 2018 – 2025 The global integration platform as a service (IPaaS) market is expected to reach USD 2.705.8 million by 2025, according to a new report by Grand View Research, Inc. Rising need of advanced systems to improve the process of deploying, developing, and managing enterprise applications globally has been a major factor driving market growth. In addition, recent developments in big data, cloud computing, and Internet of Things (IoT) within organizations’ processes also paved the way for greater development of IPaaS solutions. Integration Platform as a Service is an emerging technology where in the applications, process, data, and application programs are integrated. The integration enables enterprises to reduce the complexity
Read more