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Propane Market Statistics, Overview, Growth Opportunities, Revenue Share Analysis, and Forecast To 2028

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sherya jadhav
Propane Market Statistics, Overview, Growth Opportunities, Revenue Share Analysis, and Forecast To 2028

The rising residential demand, the elevating propane-based agricultural engines industry, has resulted in boosting the Propane market. 

The Global Propane Market is forecast to reach USD 115.60 Billion by 2028, according to a new report by Reports and Data. Propane, an organic compound, was discovered in 1857 by Marcellin Berthelot, the French chemist. The compound is produced as a by-product of two other processes, petroleum refining, and natural gas processing. While processing natural gas, it requires removal of propane, butane, and large amounts of ethane from the raw gas for preventing condensation of its volatiles in natural gas pipelines. In addition to that, this compound is also produced in a limited amount by oil refineries as a by-product of cracking petroleum into heating oil or gasoline. In regards to its features, it is an odorless and colorless gas. It undergoes combustion like other alkanes. Its combustion is cleaner as compared to unleaded gasoline or coal. Propane per BTU production of CO2 is as low as natural gas. It burns hotter as compared to diesel fuel or home heating oil due to the very high hydrogen content. Thus, certain advantages of this fuel over coal or unleaded gasoline is one of the mentionable factor boosting the growth of the sector.

In regards to region, North America can be seen to hold a considerable position in the industry. The market position held by the region is attributed to the fact that countries within the region like U.S. is a prominent chemical manufacturer, and the boom in shale gas is supporting the expansion of the sector in this region.

Top Companies Listed in the Propane Market Report:

BP P.L.C. (British Petroleum), Exxon Mobil, Royal Dutch Shell, Chevron Corp., Sinopec, Total SA, Anadarko Petroleum Corp., Statoil ASA, Eni S.p.A, ConocoPhillips and Altagas.

To receive a sample copy of the global Propane market report, visit @ https://reportsanddata.com/sample-enquiry-form/2882

The global materials & chemicals industry report deals with the manufacture and sales of a wide range of chemical products and materials including soaps, perfumes, detergents, and various industrial chemicals and construction raw materials. Increasing implementation of environmentally sustainable raw materials and chemicals, growing environmental awareness among individuals, and escalating demand for technologically advanced products are among the key contributors to industry growth. Industry growth is further driven by growing use of organic industrial chemicals, increasing demand for advanced agrochemicals and high-performance specialty chemicals in the agricultural industry, and rising demand for advanced materials & chemicals in the oil & gas, pharmaceutical, personal care & cosmetics, pulp & paper, and textile industries.

The study offers key insights into the strengths and weaknesses of the prominent players through an extensive SWOT analysis and Porter’s Five Forces analysis. It further segments the market on the basis of product type, application spectrum, med-use, and geography. The Propane industry analysis report assesses the industry in terms of market size, market share, and revenue. The key regional markets covered in the report include North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Furthermore, the report sheds light on the presence of the global Propane market in the major regions with regards to market share, market size, revenue contribution, sales statistics, distribution channels, and various other key elements.

To know more about the report @ https://www.reportsanddata.com/report-detail/propane-market

Grade Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)

  • HD5 Propane
  • HD-10 Propane
  • Commercial grade propane

Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)

  • Industrial & Domestic fuel
  • Refrigeration
  • Motor fuel
  • Solvent
  • Others

Key points covered in the report:

  • The report presents a detailed study of the global Propane market
  • It specializes in the study of the major market dynamics including driving and restraining market growth, latest product trends, and latest technological advancements
  • Includes market classification based on product type, application spectrum, and end-use landscape, and distribution channel
  • Major focus on the latest product developments, new techniques incorporated, and company profiles of leading players in the market

Request a customized copy of the report @ https://reportsanddata.com/request-customization-form/2882

Thank you for reading our report. To know more about the customization or any query about the report contents, please connect with us and our team will ensure the report is tailored to meet your requirements.

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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