Article -> Article Details
| Title | Propane Market Size, Trends, Industry Share and Forecast Report 2026-2034 |
|---|---|
| Category | Business --> Chemicals |
| Meta Keywords | Propane Market |
| Owner | akshaykumar |
| Description | |
| Market Overview The global propane market size
reached 193.8 Million Tons in 2025 and is expected to grow to 260.5 Million
Tons by 2034. The market is projected to expand at a CAGR of 3.24% during the
forecast period of 2026-2034. Asia Pacific dominates the market with over 51.2%
share in 2025, driven by rising industrial applications, increasing energy
demand, and the transition towards cleaner energy. Study Assumption Years
Propane Market Key Takeaways
Sample Request Link: https://www.imarcgroup.com/propane-market/requestsample Market Growth Factors Demand growth in residential, industrial, and commercial
end-use sectors is driving the global propane market. Propane is being used
increasingly as a substitute for fossil fuels such as oil and coal because it
produces lower greenhouse gas emissions. Use in agriculture, including for crop
drying and irrigation, and the use of propane-fueled vehicles in
transportation, especially the expanding market for portable heating and
cooking appliances, are contributing to this market growth. Also contributing to the demand is the government push to
promote the use of liquefied petroleum gas (LPG), the favorable clean energy
regulations, the urbanization and the industrialization, all resulting in a
better global propane demand, and the government policies taken to encourage
the adoption of LPG vehicles. For instance, the School District of Philadelphia
has ordered 38 propane school buses in 2024 and claims that over 15 years, its
LPG fleet will save USD 2.1 million in fuel and maintenance costs. Other factors that affect the growth of the market include
supply-side factors such as geopolitical events and crude oil price
fluctuations affecting crude-based propane supply. Weather conditions and
severity of winter, especially in countries that are dependent on propane for
heating purposes, also impact the propane market. This includes industry
partnerships, such as KBR's deal with ExxonMobil to develop propane
dehydrogenation technology, and expansion by companies like Enterprise Products
Partners. Market Segmentation By Form:
By Grade:
By End Use Industry:
Regional Insights Asia Pacific dominates the propane market with over 51.2%
share in 2025. The region's growth is fueled by industrialization,
urbanization, and economic development. Increasing propane demand across
agriculture, manufacturing, and residential heating sectors, alongside
expanding LPG distribution networks and infrastructure investments, notably by
companies like Indian Oil Corporation (IOC), sustains regional market
expansion. Recent Developments & News
Key Players
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