Reports and Data has published a new study on the Global Propane Market comprising of exclusive insights, growth prospects, market size and share estimation, and opportunities. 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.
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.
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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.
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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
- Motor fuel
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- The latest report on the global Propane market offers an elaborate list of the company profiles of the top industry players.
- The report highlights the most significant aspects of the industry, such as manufacturing/production capacity, sales, future expansion strategies, and the financial positions of the manufacturers and top companies.
- The report emphasizes the key application areas of the leading market products services.
- The report involves a SWOT analysis of the global Propane market.
- The report provides vital information about the leading investors, stakeholders, policymakers, manufacturers, suppliers, and service providers involves in the Propane industry.
- Furthermore, the latest study is a precise account of the market and offers actionable insights into the global market size and growth rate over the estimated period.
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