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レポート概要
| Mordor Intelligence社の市場調査では、世界のプロパン市場規模が予測期間中（2022年～2027年）、年平均4％で増加すると推測されています。本調査資料では、プロパンの世界市場を総合的に調査をし、イントロダクション、調査手法、エグゼクティブサマリー、市場動向、産業（住宅、商業、輸送、工業、その他）分析、地域別（中国、インド、日本、韓国、アメリカ、カナダ、メキシコ、ドイツ、イギリス、イタリア、フランス、ブラジル、アルゼンチン、サウジアラビア、南アフリカ）分析、競争状況、市場機会・将来動向などを掲載しています。並びに、本書には、Air Liquide、BP PLC、Chevron Corporation、China Petroleum & Chemical Corporation (Sinopec)、China National Petroleum Corporation (PetroChina)、ConocoPhillips Company、Eni SpAなどの企業情報が含まれています。 ・イントロダクション ・調査手法 ・エグゼクティブサマリー ・市場動向 ・世界のプロパン市場規模：産業別 - 住宅における市場規模 - 商業における市場規模 - 輸送における市場規模 - 工業における市場規模 - その他産業における市場規模 ・世界のプロパン市場規模：地域別 - アジア太平洋のプロパン市場規模 中国のプロパン市場規模 インドのプロパン市場規模 日本のプロパン市場規模 … - 北米のプロパン市場規模 アメリカのプロパン市場規模 カナダのプロパン市場規模 メキシコのプロパン市場規模 … - ヨーロッパのプロパン市場規模 ドイツのプロパン市場規模 イギリスのプロパン市場規模 イタリアのプロパン市場規模 … - 南米/中東のプロパン市場規模 ブラジルのプロパン市場規模 アルゼンチンのプロパン市場規模 サウジアラビアのプロパン市場規模 … ・競争状況 ・市場機会・将来動向 |
The propane market is projected to register a CAGR greater than 4% during the forecast period.
Owing to the COVID-19 pandemic, the demand for propane from end-user industries, including commercial, transportation, and other industry, declined drastically. However, the increased demand for liquefied petroleum gas (LPG) from the residential sector propelled propane consumption globally.
Key Highlights
- In the short term, factors such as the increasing demand from various end-user industries, such as industrial, construction, and petrochemical, are likely to drive market growth.
- The harmful effects of propane at higher concentrations are expected to inhibit the market’s growth.
- Propane usage in power generation is expected to act as an opportunity for the market.
- Asia-Pacific dominated the global propane market. The largest consumption was witnessed in China and India.
Propane Market Trends
Residential Segment to Dominate the Market
- In the residential segment, propane is used for air conditioning, heating water, cooking, refrigerating foods, drying clothes, lighting, and fueling fireplaces.
- Propane is used mainly in homes in rural areas that do not have natural gas services and mobile homes. Millions of homes use propane to meet some of their energy requirements.
- In the United States, about 12 million households use propane as their primary heating source, and around one-fifth of mobile homes use propane for heating. In the first week of February 2022, the value of residential propane stood at USD 2.825/gallon, according to the United States Energy Information Administration (EIA).
- The rising sales of new residential will boost the demand for propane in the United States. In 2020 and 2021, demand for housing surged, and house sales volumes spiked to 822,000 and 770,000, respectively. Additionally, sales of new single‐family houses in November 2022 were at a seasonally adjusted annual rate of 640 thousand units per e U.S. Census Bureau and the Department of Housing and Urban Development.
- Homes that use propane as the primary energy source have a large propane tank outside the house that stores propane under pressure as a liquid. Propane dealers deliver propane to residences in trucks, filling the tanks several times a year as per the requirement.
- The average residential propane tank holds between 500 and 1,000 gallons of liquid fuel. Millions of backyard cooks use propane-powered gas grills for cooking. Moreover, recreational vehicles usually have propane-fueled appliances, giving them a portable energy source for cooking, hot water, and refrigeration. People often use propane for outdoor cooking, and because of its portability, it is especially popular with campers and mobile homeowners.
- However, due to improvements in propane usage efficiency, the demand, in terms of volume for propane, may need to grow in the future.
- The increasing new residential construction, combined with continuing fuel oil conversions, is expected to offset residential space heating losses to electricity and natural gas and lead to slow growth in the number of residential space heating customers through 2027.
- The abovementioned factors are anticipated to drive the demand for propane from the residential sector during the forecast period.
China to Dominate the Asia-Pacific Market
- China is the world’s largest propane consumer, with an estimated share of about 20%. China imports large amounts of propane from other countries to satisfy the huge domestic demand. The primary factor attributed to the rise in propane imports in the nation is the increased demand for propane dehydrogenation or PDH plants.
- In 2022, China produced 291.61 million mt of LPG, naphtha, gasoline, jet/kerosene, gasoil, and fuel oil over January-July, up 3.9% year on year, despite crude throughput falling 6.3% over the same period, as per NBS data. China imported 2.12 million mt of LPG, propane, and butane, in May 2022, up 7.1% month on month.
- China represents one of the largest autogas markets in Asia-Pacific. The autogas market in China developed primarily due to local programs to promote alternative fuels to tackle the worsening problem of air pollution in the nation.
- According to the China Association of Automobile Manufacturers, the total deliveries of new energy vehicles stood at 3.51 million units in 2021. In addition, 2.21 million NEVs were newly registered in China during the first half of 2022, a year-on-year increase of 100.26%, a record high.
- Overall, the market for propane in China is projected to increase rapidly post-recovery from the COVID-19 pandemic during the early forecast period.
Propane Market Competitor Analysis
The global propane gas market is fragmented in nature, owing to the presence of a vast number of natural gas producers around the world. Major oil companies (not in any particular order), such as Gazprom, China Petroleum & Chemical Corporation, ExxonMobil, Saudi Arabian Oil Co. (Saudi Aramco), and Shell PLC, lead the market in terms of propane production, owing to their vast production outputs of natural gas at several facilities around the world.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increase in Demand from the Residential and Transportation Sectors
4.1.2 Demand in the Petrochemical Industry
4.2 Restraints
4.2.1 Harmful Effects of Propane at Higher Concentrations
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION (Market Size in Volume)
5.1 End-user Industry
5.1.1 Residential
5.1.2 Commercial
5.1.3 Transportation
5.1.4 Industrial
5.1.5 Other End-user Industries
5.2 Geography
5.2.1 Asia-Pacific
5.2.1.1 China
5.2.1.2 India
5.2.1.3 Japan
5.2.1.4 South Korea
5.2.1.5 Rest of Asia-Pacific
5.2.2 North America
5.2.2.1 United States
5.2.2.2 Canada
5.2.2.3 Mexico
5.2.3 Europe
5.2.3.1 Germany
5.2.3.2 UK
5.2.3.3 Italy
5.2.3.4 France
5.2.3.5 Rest of Europe
5.2.4 South America
5.2.4.1 Brazil
5.2.4.2 Argentina
5.2.4.3 Rest of South America
5.2.5 Middle-East
5.2.5.1 Saudi Arabia
5.2.5.2 South Africa
5.2.5.3 Rest of Middle-East
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share **/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Air Liquide
6.4.2 BP PLC
6.4.3 Chevron Corporation
6.4.4 China Petroleum & Chemical Corporation (Sinopec)
6.4.5 China National Petroleum Corporation (PetroChina)
6.4.6 ConocoPhillips Company
6.4.7 Eni SpA
6.4.8 Exxon Mobil Corporation
6.4.9 GAIL (India) Limited
6.4.10 Gazprom
6.4.11 Shell PLC
6.4.12 Saudi Aramco
6.4.13 Suburban Propane
6.4.14 Total
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Usage of Propane in Power Generation