Market Segmentation
The global propane market has
been segmented by end-use industry and region.
Based on end-use industry, the
market has been segmented into residential construction, commercial
construction, process industry, agricultural, industrial machinery, automotive
and transportation, and others.
The construction industry
together accounted for the largest value share in 2017, however, process
industry individually held the largest market value share for propane in 2017
and is expected to maintain its dominance throughout the forecast period. The
latter growth can be attributed towards the increasing demand for propane in
propylene production, which is a key raw material in production of
polypropylene. The construction industry is trailing behind the process
industry, increasing demand for clean fuel in cooking and heating applications
is expected to drive the demand during the forecast period. Commercial
construction is expected to lead the demand for propane in the construction
industry with the ongoing investments in infrastructural developments in the
developing economies of Asia-Pacific and Middle East & Africa.
In addition, the increasing
scrutiny on emissions from automotive and transportation sector is expected to
drive demand for propane, due to the growing need for clean and efficient fuel
over traditional fuel, especially, in the developed economies such as the US
and Europe.
Competitive Analysis
·
Ferrellgas
·
Royal Dutch Shell plc
·
Exxon Mobil Corporation
·
BP
·
Chevron Corporation
·
Equinor ASA
·
Eni SpA
·
ConocoPhillips Company
·
Chesapeake
·
Anadarko Petroleum Corporation
·
Canadian
Regional Analysis
Based on region, the Propane
Market has been segregated into North America, Europe, Asia-Pacific,
Latin America, and the Middle East & Africa.
The market in Asia-Pacific
accounted for the largest value share of the global propane market on account
of increased spending on the growing infrastructural development coupled with
considerable increase in polymer industry.
North America is another
prominent market in the global propane market on account of increasing use of
propane as a clean source of fuel in the construction sector and emerging
application in agricultural applications in the region.
The market in Europe is expected
to be stagnant with a tight supply for propane and high inclination towards
naphtha feedstock in the region.
The market in Latin America and
the Middle East and Africa are likely to grow at a healthy CAGR on account of
increased spending on residential and commercial construction.
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@ https://www.marketresearchfuture.com/report/covid-19-impact-recycled-polyethylene-terephthalate-market
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