Propane Market | Potential Growth, Share, Demand and Analysis of Key Players- Research Forecasts by 2023


Posted September 17, 2020 by Marketresearchfuture

Propane Market | Potential Growth, Share, Demand and Analysis of Key Players- Research Forecasts by 2023
 
Market Segmentation

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

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

The construction industry together accounted for the largest value share in 2017, however, process industry individually held the largest market value share for propane in 2017 and is expected to maintain its dominance throughout the forecast period. The latter growth can be attributed towards the increasing demand for propane in propylene production, which is a key raw material in production of polypropylene. The construction industry is trailing behind the process industry, increasing demand for clean fuel in cooking and heating applications is expected to drive the demand during the forecast period. Commercial construction is expected to lead the demand for propane in the construction industry with the ongoing investments in infrastructural developments in the developing economies of Asia-Pacific and Middle East & Africa.

In addition, the increasing scrutiny on emissions from automotive and transportation sector is expected to drive demand for propane, due to the growing need for clean and efficient fuel over traditional fuel, especially, in the developed economies such as the US and Europe.

Competitive Analysis

Ferrellgas
Royal Dutch Shell plc
Exxon Mobil Corporation
BP
Chevron Corporation
Equinor ASA
Eni SpA
ConocoPhillips Company
Chesapeake
Anadarko Petroleum Corporation
Canadian
Regional Analysis

Based on region, the Propane Market has been segregated into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The market in Asia-Pacific accounted for the largest value share of the global propane market on account of increased spending on the growing infrastructural development coupled with considerable increase in polymer industry.

North America is another prominent market in the global propane market on account of increasing use of propane as a clean source of fuel in the construction sector and emerging application in agricultural applications in the region.

The market in Europe is expected to be stagnant with a tight supply for propane and high inclination towards naphtha feedstock in the region.

The market in Latin America and the Middle East and Africa are likely to grow at a healthy CAGR on account of increased spending on residential and commercial construction.

Impact of COVID-19 on Recycled Polyethylene Terephthalate Market @ https://www.marketresearchfuture.com/report/covid-19-impact-recycled-polyethylene-terephthalate-market

Impact of COVID-19 on Automotive Coolant Market @ https://www.marketresearchfuture.com/report/covid-19-impact-automotive-coolant-market
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Ankita
Phone 09607196888
Business Address Office No. 528, Amanora Chambers
Pune - 411028
Country India
Categories Biotech , Business , Construction
Tags propane market
Last Updated September 17, 2020