Asia Liquefied Petroleum Gas (LPG) Market Size Release Lates...| MENAFN.COM

Tuesday, 31 January 2023 07:10 GMT

Asia Liquefied Petroleum Gas (LPG) Market Size Release Latest Trends & Industry Vision By 2033


(MENAFN- America News Hour)

“A research report on Asia Liquefied Petroleum Gas (LPG) Market was added by SDKI in its database which discusses the product as well as the scope of its market in detail. The report provides the business clients with an in-depth overview of the market, giving an analysis of the market trends, market size, market value and market growth over the forecast period on a compound as well as on a yearly basis. Further, the market study gives an overview of the industry on the basis of several factors such as the geographical extent, market segmentation, growth drivers and challenges prevalent in the market.

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Asia LPG market stood at over $ 81.4 billion
and is projected to grow at a CAGR of over 5% to cross $ 109 billion, on account of increasing demand for liquefied petroleum gas as a fuel for power generation in remote and off-grid locations in comparison to its less environment-friendly alternatives like coal, diesel and fuel oil. LPG used to run vehicles is known as Autogas. Increasing demand for the same is being witnessed as it is a comparatively cheaper automotive fuel and can be used in vast applications related to transportation. Of the overall LPG consumed across the globe, nearly 87% is used for residential/consumer use.


By source, Asia LPG market has been categorized into Refinery, Associated Gases & Non-Associated Gases. Among the sources, Refinery category accounted for a largest share in 2018. However, non-Associated gases category is expected to witness the highest growth rate during 2019-2024 as LPG from non-associated gas sources is immune to crude oil price fluctuations. During 2014-2018 as well, non-associated gas-based LPG was the fastest growing segment with a CAGR of 4.8%. Natural gas, natural gas liquid/condensate and shale gas producing reserves are the major sources of non-associated gas-based LPG. Fluctuation in crude oil prices have resulted in unfavorable market conditions for refinery-based LPG. In such scenario, extracting more LPG from non-associated gas reserves becomes a more economically viable option.


Among countries, Bangladesh LPG market is expected to grow at the fastest rate during the forecast period. To counter the decreasing gas reserves of the country, LNG is scheduled to be imported and blended with domestic gas in the national gas pipeline in Bangladesh. Additionally, to support the sustainable LPG infrastructure, the government of Bangladesh is actively considering reduction of duties and taxes on import of LPG and LPG cylinders to boost import and to expand its usage to ease mounting gas crisis. The budget of FY2017-18 rationalized the Customs and Supplementary duty which has had a positive impact on LPG cylinder price for end users. India accounts for the largest share in Asia LPG market. The country becomes world's second largest LPG consumer after government's Ujjawla Push FY19. Ujjwala scheme boosted India's LPG consumption to a record high in FY19. India consumed more than 24 million tonnes of LPG in the financial year FY19.


Key players in the Asia LPG market are Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL), Petro Vietnam Gas, Reliance Industries Limited (RIL), China National Petroleum Corporation (CNPC), Sinopec, Petronas, WP Energy etc., among others.


Objective of the Study:
. To analyze and forecast Asia LPG market size.
. To forecast Asia LPG market based on source, technology, application and regional distribution.
. To identify drivers and challenges for Asia LPG market.
. To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Asia LPG market.
. To conduct the pricing analysis for Asia LPG market.
. To identify and analyze the profile of leading players operating in Asia LPG market.


Some of the leading players in the Asia Liquefied Petroleum market are Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL), Petro Vietnam Gas, Reliance Industries Limited (RIL), China National Petroleum Corporation (CNPC), Sinopec, Petronas, WP Energy etc.


SDKI performed both primary as well as exhaustive secondary research for this study. Initially, SDKI sourced a list of LPG producers across Asia region. Subsequently, SDKI conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, SDKI could include the suppliers which could not be identified due to the limitations of secondary research. SDKI analyzed the product offerings, distribution channels and presence of all major LPG producers across each country in Asia.


SDKI calculated Asia LPG market size by using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. SDKI sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by SDKI.


Key Target Audience:
. LPG producers
. LPG suppliers, distributors and other stakeholders
. LPG end user industries
. Organizations, forums and alliances related to LPG market
. Market research and consulting firms


The study is useful in providing answers to several critical questions that are important for industry stakeholders such as solution providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.


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Table of Content 1. Liquefied Petroleum Gas (LPG): An Introduction & Product Classification
2. Research Methodology
3. Executive Summary
4. Voice of Customer
4.1. Major Influencing Factor affecting Vendor Selection of LPG
4.2. Challenges Faced (Need-Gap Analysis) of LPG
4.3. Satisfaction Level of Product Pricing (N=50)
5. Asia LPG Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Source (Refinery; Associated Gas; Non-Associated Gas)
5.2.2. By Application (Residential/Consumer-use; Petrochemical & Refinery; Power & Utilities; Transport/Auto-fuel; Other Industrial Applications)
5.2.3. By LPG Composition (Propane; Butane; and Ethane)
5.2.4. By Country (Philippines; Vietnam; Thailand; Indonesia; Myanmar; Bangladesh; India; Malaysia and Rest of Asia)
5.2.5. By Company (2018)
5.3. Market Attractiveness Index (By Source; By Application; and By Country)
6. India LPG Market Outlook
6.1. Liquefied Petroleum Gas (LPG) Production in India
6.2. Market Size & Forecast
6.2.1. By Value & Volume
6.3. Market Share & Forecast
6.3.1. By Source
6.3.2. By Application
6.3.3. By LPG Composition
7. Thailand LPG Market Outlook
7.1. Liquefied Petroleum Gas (LPG) Production in Thailand
7.2. Market Size & Forecast
7.2.1. By Value & Volume
7.3. Market Share & Forecast
7.3.1. By Source
7.3.2. By Application
7.3.3. By LPG Composition
8. Indonesia LPG Market Outlook
8.1. Liquefied Petroleum Gas (LPG) Production in Indonesia
8.2. Market Size & Forecast
8.2.1. By Value & Volume
8.3. Market Share & Forecast
8.3.1. By Source
8.3.2. By Application
8.3.3. By LPG Composition
9. Vietnam LPG Market Outlook
9.1. Liquefied Petroleum Gas (LPG) Production in Vietnam
9.2. Market Size & Forecast
9.2.1. By Value & Volume
9.3. Market Share & Forecast
9.3.1. By Source
9.3.2. By Application
9.3.3. By LPG Composition

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About SDKI:

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count ( SDKI ) provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

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