Global LPG Market By Application (Household, Commercial, Industrial, Transportation, & Others), By Region (Asia-Pacific, North America, Europe, MEA & South America), Competition Forecast and Opportunities, 2012 – 2026
LPG is a clean and odorless fuel that emits significantly lesser amount of CO2 as compared to petrol or diesel. Due to its cost effectiveness and minimal wastage, LPG is being increasingly employed in both commercial and household sectors, worldwide. In addition to its use as a cooking fuel, LPG is utilized as a feedstock in petrochemical plants, food processing plants, metal processing plants, ceramic industries, etc. Consumption of LPG in household segment is surging across the globe, especially in Asia-Pacific region, owing to the region’s huge and expanding population base. Rising LPG imports and augmenting demand for cleaner fuel, predominantly by major developing economies such as India and China, is expected to fuel LPG consumption, globally, during the forecast period.
According to TechSci Research report “Global LPG Market By Application, By Region, Competition Forecast & Opportunities, 2012 – 2026”, the global LPG consumption is forecast to surpass 380 MMTPA by 2026, majorly on account of increasing government initiatives to boost LPG consumption, surging LPG demand as a cooking fuel, and planned refinery expansions of major petroleum refineries across the globe. In 2016, North America was the largest producer of LPG, and the region’s LPG production is expected to further increase through 2026, which can be attributed to continuing growth in development of shale gas reserves in North America. Nevertheless, on the consumption side, Asia-Pacific is expected to continue its dominance as the largest LPG consumer, with the region having accounted for more than one-third of the global LPG consumption in 2016. “Global LPG Market By Application, By Region, Competition Forecast & Opportunities, 2012 – 2026” discusses the following aspects of global LPG market:
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