Liquefied Petroleum Gas (LPG) Market

Liquefied Petroleum Gas Market By Source Type (Refinery, Associated Gas, Non-Associated Gas); By Application (Residential, Commercial, Chemical, Industrial, Auto gas, Refinery and Others) - Global Historical Growth (2013-2017) & Future Outlook (2018-2027) Demand Analysis & Opportunity Evaluation

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Report ID: 1070 | Published On: Jan 30, 2023
  1. Introduction
    • Market Definition
    • Market Segmentation
    • Product Overview
  2. Assumptions and Acronyms
  3. Research Methodology
  4. Research Process
    • Primary Research
    • Manufacturers
    • Distributors
    • End Users
    • Secondary Research
    • Market Size Estimation
  5. Executive Summary - Global Advanced Therapy Medicinal Products Market
  6. Analysis of Market Dynamics
  7. Drivers
  8. Trends
  9. Key Market Opportunities for Business Growth
  10. Major Roadblocks for the Market Growth
  11. Regulatory & Standard Landscape
  12. Value Chain Analysis
  13. Potential ATMP Treatment Analysis
  14. Pricing Analysis of Global Advanced Therapy Medicinal Products Market
  15. Use Case Analysis
  16. Pipeline Analysis
  17. Analysis on the Manufacturing Process
  18. Analysis of COVID-19 Impact on the Global Advanced Therapy Medicinal Products Market
  19. Analysis of End-User Market Share of Global Advanced Therapy Medicinal Products
  20. Competitive Positioning
  21. Competitive Landscape
  22. Market Share Analysis of Major Players (%), 2021
  23. Competitive Benchmarking
  24. Novartis AG.
  25. Takeda Pharmaceutical Company Limited
  26. Gilead Sciences, Inc.
  27. Bluebird Bio, Inc
  28. BioMarin Pharmaceutical Inc
  29. Vericel Corporation
  30. Mallinckrodt Pharmaceuticals
  31. UniQure N.V.
  32. JCR Pharmaceuticals Co., Ltd.
  33. Spark Therapeutics, Inc. (Parent Company: Roche)
  34. Kolon TissueGene, Inc.
  35. Global Advanced Therapy Medicinal Products Market Outlook
  36. By Value (USD million)
  37. By Product
  38. CAR-T Therapy, 2021-2031F (USD million)
  39. Gene Therapy, 2021-2031F (USD million)
  40. Cell Therapy, 2021-2031F (USD million)
  41. Tissue Engineered Product, 2021-2031F (USD million)
  42. By Disease
  43. Oncology, 2021-2031F (USD million)
  44. Genetic Disorders, 2021-2031F (USD million)
  45. CNS, 2021-2031F (USD million)
  46. Dermatology, 2021-2031F (USD million)
  47. Others, 2021-2031F (USD million)
  48. By End-User
  49. Hospitals & Clinics, 2021-2031F (USD million)
  50. Research & Academic Institutes, 2021-2031F (USD million)
  51. Global Advanced Therapy Medicinal Products Market by Region
  52. North America, 2021-2031F (USD million)
  53. Europe, 2021-2031F (USD million)
  54. Asia-Pacific, 2021-2031F (USD million)
  55. Latin America, 2021-2031F (USD million)
  56. Middle East & Africa, 2021-2031F (USD million)
  57. North America Advanced Therapy Medicinal Products Market Outlook
  58. By Value (USD million)
  59. By Product
  60. CAR-T Therapy, 2021-2031F (USD million
  61. Gene Therapy, 2021-2031F (USD million)
  62. Cell Therapy, 2021-2031F (USD million)
  63. Tissue Engineered Product, 2021-2031F (USD million)
  64. By Disease
  65. Oncology, 2021-2031F (USD million)
  66. Genetic Disorders, 2021-2031F (USD million)
  67. CNS, 2021-2031F (USD million)
  68. Dermatology, 2021-2031F (USD million)
  69. Others, 2021-2031F (USD million)
  70. By End-User
  71. Hospitals & Clinics, 2021-2031F (USD million)
  72. Research & Academic Institutes, 2021-2031F (USD million)
  73. By Country
  74. US, 2021-2031F (USD million)
  75. Canada, 2021-2031F (USD million)
  76. Europe Advanced Therapy Medicinal Products Market Outlook
  77. By Product
  78. By Disease
  79. By End User
  80. By Country
  81. UK, 2021-2031F (USD Million)
  82. Germany, 2021-2031F (USD Million)
  83. France, 2021-2031F (USD Million)
  84. Italy, 2021-2031F (USD Million)
  85. Spain, 2021-2031F (USD Million)
  86. Russia, 2021-2031F (USD Million)
  87. Netherlands, 2021-2031F (USD Million)
  88. Rest of Europe, 2021-2031F (USD Million)
  89. Asia Pacific Advanced Therapy Medicinal Products Market Outlook
  90. By Product
  91. By Disease
  92. By End User
  93. By Country
  94. China, 2021-2031F (USD Million)
  95. India, 2021-2031F (USD Million)
  96. Japan, 2021-2031F (USD Million)
  97. South Korea, 2021-2031F (USD Million)
  98. Singapore, 2021-2031F (USD Million)
  99. Australia, 2021-2031F (USD Million)
  100. Rest of Asia-Pacific, 2021-2031F (USD Million)
  101. Latin America Advanced Therapy Medicinal Products Market Outlook
  102. By Product
  103. By Disease
  104. By End User
  105. By Country
  106. Brazil, 2021-2031F (USD Million)
  107. Argentina, 2021-2031F (USD Million)
  108. Mexico, 2021-2031F (USD Million)
  109. Rest of Latin America, 2021-2031F (USD Million)
  110. Middle East & Africa Advanced Therapy Medicinal Products Market Outlook
  111. By Product
  112. By Disease
  113. By End User
  114. By Country
  115. GCC, 2021-2031F (USD Million)
  116. Israel, 2021-2031F (USD Million)
  117. South Africa, 2021-2031F (USD Million)
  118. Rest of Middle East & Africa, 2021-2031F (USD Million)

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Inflation and Looming Recession to Haunt Businesses:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

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Liquefied Petroleum Gas Market Overview

Liquefied Petroleum Gas, also known as autogas or propane is flammable mixture of hydrocarbon gases such as propane, butane and combination of these gases. Autogas is lower carbon, clean and effective source of energy. Pressurized cylindrical containers are used for the transportation and storage of LPG. Autogas is used for wide variety of applications such as cooking, agriculture, hospitality, construction, sailing among numerous others. It is used worldwide due to its cost effectiveness, convenience and economic reasons.

However, being a form of gas, it does not pollute ground or water sources as it is utilized without ash. It is used as an alternative fuel in Light Motor Vehicles (LMV’s) and transportation vehicles as it reduces the carbon emissions in vehicles as well as stationary applications such as cooking gas and generators.

The usage of LPG in residential & commercial sectors has attributed to replacement of conventional natural resources such as coal, wood etc.

Rising awareness of estimated scarcity of natural resources, easy availability alongside budget is likely to foster the growth of liquefied petroleum gas market in near future.

Market Size and Forecast

Market of Liquefied Petroleum Gas has generated market size of 328 million tons in the recent past. Booming initiatives by government to encourage LPG applications with respect to its extensive benefits in commercial and residential sectors has estimated the market growth over the forecast period.CLICK TO DOWNLOAD FREE SAMPLE

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Geographically, the countries such as China and India has highest consumption of LGP making Asia Pacific to be the largest region in terms of utilization accounting for 42% of the overall market by 2027. North America has led the liquefied petroleum gas to emerge as a significant market for LPG production. Production of LPG in the United States, making it the leading manufacturer and exporter of LPG is expected to fuel the market growth over the forecast period. The market size of LPG vehicle market was 293 million tons in 2017. Key sponsoring countries such as Germany and Italy are anticipated to fuel the liquid petroleum gas market of Europe in the forecast period.

According to a recent study conducted by Research Nester, the global market for Liquefied Petroleum Gas is expected to grow at a CAGR of 4.2% during the forecast period 2018-2027. Worldwide expansion of liquefied petroleum gas market is anticipated to generate USD 283.64 Billion in revenue by the end of 2027.

Based on application type, liquefied petroleum gas is segmented into residential, commercial, chemical, industrial, autogas, refinery among others.

Market Segmentation:

Our in-depth analysis of the global liquefied petroleum gas market includes the following segments:

By Source Type

  • Refinery
  • Associated Gas
  • Non-Associated Gas

By Application Type

  • Residential
  • Commercial
  • Chemical
  • Industrial
  • Autogas
  • Refinery
  • Others

LPG market

By Region

The liquefied petroleum gas market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis.

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Growth Drivers and Challenges:

Factors such as cost effectiveness, fuel efficiency and emission control are most likely to drive the LPG Market during forecast period. Initiatives by government in spreading awareness to general population regarding benefits and advancements in LPG for improving energy efficiency and economy is expected to elevate the demand for liquefied petroleum gas  over the forecast period.

Moreover, the procurement and expansion of merchandizing and allotment of outlets are estimated to intensify the competition for delivering the best services in the liquefied petroleum gas market furthering the need of branding the market and rise of new key players. This factor is anticipated to increase market share by the end of forecast period.

The overall estimate consumption of LPG in domestic segment was around 63% in 2017. The use of LPG as cooking fuel in both residential and commercial sectors especially in regions such as Middle East Africa, Asia Pacific and Latin America is one of the leading growth drivers for LPG market. The increasing use of LPG as feedstock in petrochemical refineries as well as transportation fuel in Europe is anticipated to be one of the major factors behind the growth of liquefied petroleum gas market during forecast period.

However, the higher cost of equipment installation of LPG units and production of shale gas is likely to dissuade the growth of LPG market.

Key Players
  • ExxonMobil
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • Chevron
  • Royal Dutch Shell
  • China National Petroleum Corp.
  • Valero Energy Corp
  • Phillips 66 PLC
  • Petronas
  • ChemChina
  • Auto Gas Energy India
  • Gazprom

LPG market
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