Nov 11, 2019   SOURCE: BusinessWire

Asia Liquefied Petroleum Gas (LPG) Market Report 2019; Market Projected to Cross $109 Billion by 2024 - ResearchAndMarkets.com

The "Asia Liquefied Petroleum Gas (LPG) Market, By Source (Refinery; Non-Associated Gases & Associated Gases), By Application, By LPG Composition (Propane; Butane; & Ethane), By Country, Competition, Forecast & Opportunities, 2024" report has been added to ResearchAndMarkets.com's offering.

The Asian LPG market stood at over $81.4 billion in 2018 and is projected to grow at a CAGR of over 5% to cross $109 billion by 2024, 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, the Asian 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 the Asian 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 Asian 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.

Years Considered

  • Historical Years: 2014-2017
  • Base Year: 2018
  • Estimated Year: 2019
  • Forecast Period: 2020-2024

Objectives of the Study

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

Key Topics Covered

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

7. Thailand LPG Market Outlook

8. Indonesia LPG Market Outlook

9. Vietnam LPG Market Outlook

10. Philippines LPG Market Outlook

11. Malaysia LPG Market Outlook

12. Bangladesh LPG Market Outlook

13. Myanmar LPG Market Outlook

14. Rest of Asia LPG Market Outlook

15. Market Dynamics

15.1. Impact Analysis

15.2. Drivers

15.3. Challenges / Restraints

16. Market Trends & Developments

17. Competitive Landscape

17.1. Company Profiles

17.1.1 Indian Oil Corporation Limited

17.1.2 Bharat Petroleum Corporation Ltd.

17.1.3 Hindustan Petroleum Corporation Limited

17.1.4 PetroVietnam Gas Joint Stock Corporation

17.1.5 Reliance Industries Limited

17.1.6 Petroliam Nasional Berhad (PETRONAS)

17.1.7 PT Pertamina Gas

17.1.8 Siamgas & Petrochemicals Ltd. (PCI.)

17.1.9 WP Energy Public Company Limited

17.1.10 Bashundhara LP Gas Limited

(Note: The companies list can be customized based on the client requirements)

18. Strategic Recommendations

For more information about this report visit https://www.researchandmarkets.com/r/hcptty