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レポート概要
| 本調査レポートは、液化石油ガスの世界市場について調査・分析した資料で、液化石油ガスの市場概要、動向、セグメント別市場規模、地域別分析、競争状況、企業情報、市場機会分析などで構成されています。 |
The liquefied Petroleum Gas (LPG) market is expected to grow at a CAGR of over 3.4% during the forecast period. The LPG market is majorly driven by sectors like domestic, industrial, automobile, and commercial business sectors. The primary driver of the market is the increasing consumption of LPG, on account of government initiatives to increase the usage of cleaner fuel. However, LPG storage is a major factor of restraint for the market. Domestic LPG usually comes in cylinders, which doesn’t provide a continuous supply service and its highly flammable and heavier in nature that have a higher tendency to catch fire, in case of any leakage, which is expected to hinder the market growth during the forecast period.
– It is expected that the demand for propane and butane would be nearly 375 million metric tonnes per year in 2030. The demand for both the constituent of LPG is expected to be the increasing global population, along with the extended benefit like easy to carry and less pollutant composition. Thus, the demand for LPG is expected to create an opportunity for the LPG market in the near future.
– LPG extracted from natural gas as NGL has the maximum market share than the crude oil produced. During 2018, LPG extracted from natural gas is majorly produced from North America, Europe, and the Middle East, which shares more than 300 TMT of global LPG production.
– North America is dominating the market, with the United States as the significant LPG exporter. During 2018, the country produces around 234 MMT of LPG from natural gas and 10 MMT of LPG from its refineries.
Key Market Trends
LPG Extracted from Natural Gas Liquids to Dominate the Market
– Global LPG production from natural gas is much higher as compared to the production from crude oil. Natural gas extracted from the earth’s crust contains a mixture of gases and liquids (propane and butane), that are extracted to produce LPG. The Majority of the LPG produced globally is extracted from natural gas, while rest are produced during crude oil processing in refineries.
– LPG extracted from natural gas is estimated to be highest in North America, which contributes to the maximum percentage of LPG produced globally. During 2018, natural gas liquids from the United States was around 4.3 million barrels per day, which is highest in the world.
– LPG produces from natural gas need not require any oil refinery; it just needs a gas separation facility that can extract the necessary gases to form the LPG. Thus, LPG extraction from natural gas is less expensive than LPG production from crude oil in refineries. LPG extracted can be distributed through tankers or pipelines.
North America as a Prominent Market
– North America is one of the prominent markets of LPG production. With nearly 280 MMT of NGL extraction from natural gas and 11 MMT of LPG production from crude oil refineries in 2018, North America has a significant share in global LPG production. The United States and Canada are the key producers and exporters of the region.
– Out of the total NGL production in North America, the majority of it contributes to LPG production. Moreover, the contribution of the United States, Canada, and Mexico LPG production from the crude oil refineries, makes the region as one of the prominent producers of LPG.
– Arbuckle II, Frong Range Expansion, Texas Express Expansion, Mariner East 2X, and Lone Star Express Expansion are the key NGL projects that are under construction and are expected to get operation during 2020. Apart from under-construction, few other NGL projects are getting developed in the region and are expected to get operational by 2022. The operational of the projects is expected to retain the United States’ position as a top producer during the forecasting period.
– Apart from North America, government initiatives in Asia-Pacific to boost LPG as a cooking fuel is getting increased over the years. During 2018, Asia-Pacific has a Y-O-Y growth of around 4.5%. The key contributor to the growth was China and India. The governments in the region are concentrating on LPG uses to reduce the percentage of people get killed due to the harmful gases that get produced from the combustion of conventional fossil fuels like wood, cow dung, and coal. Such an initiative is likely to increase the LPG market during the upcoming years.
Competitive Landscape
The liquefied petroleum gas market is moderately fragmented. The key owners in the LPG market include BP Plc, Exxon Mobil Corporation, ConocoPhillips, Abu Dhabi National Oil Company (ADNOC), Qatar Petroleum, Devon Energy, Novatek PAO, Gazprom PAO, Sinopec Corp., and China Petroleum & Chemical Corp. among others.
Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– 3 months of analyst support
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 List of Refineries and NGL Producing Countries, by Capacity
4.3 List of Upcoming Refineries, by Capacity and Location
4.4 Market Size and Demand Forecast, in USD billion, till 2025
4.5 Recent Trends and Developments
4.6 Government Policies and Regulations
4.7 Market Dynamics
4.7.1 Drivers
4.7.2 Restraints
4.8 Supply Chain Analysis
4.9 Porter’s Five Forces Analysis
4.9.1 Bargaining Power of Suppliers
4.9.2 Bargaining Power of Consumers
4.9.3 Threat of New Entrants
4.9.4 Threat of Substitute Products and Services
4.9.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Source of Production
5.1.1 Crude Oil
5.1.2 Natural Gas Liquid
5.2 Geography
5.2.1 North America
5.2.2 Asia-Pacific
5.2.3 Europe
5.2.4 South America
5.2.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 BP Plc.
6.3.2 Exxon Mobil Corporation
6.3.3 ConocoPhillips
6.3.4 Abu Dhabi National Oil Company (ADNOC)
6.3.5 Qatar Petroleum
6.3.6 Novatek PAO
6.3.7 Gazprom PAO
6.3.8 Sinopec Corp.
6.3.9 China Petroleum & Chemical Corp.
6.3.10 Indian Oil Corporation Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS