Press release
How Propane Market will Grow at Highest CAGR
Propane Market
For More Information and Detailed Scope of this Report, Visit @ https://www.fortunebusinessinsights.com/industry-reports/propane-market-100586
Some of the key players operating in the propane market are BP plc, Chevron Corporation, Royal Dutch Shell plc, Anadarko Petroleum Corporation, ConocoPhillips, Reliance Industries Ltd., PetroChina Company Limited, Sinopec, Evonik, Sika AG, Total SA, Eni S.p.A, Marsh LP Gas Company Inc., Statoil ASA, and Ferrellgas Partners L.P.
“ALTAGAS launches the First Marine Export Facility”
ALTAGAS, a North American energy infrastructure company announced the opening of Ridley Island Propane Export Terminal (RIPET), in British Columbia. RIPET authorizes AltaGas to leverage the power of assets along with the energy value chain. The new marine export facility is expected to contribute significantly to the growth of the global propane market. Factors such as gas gathering and processing, fractionation and export to liquids handling in the facility will fuel demand. The facility also delivers access to premium overseas markets, where the demand for propane is high. This will in turn, boost the global propane market.
Acquisitions between companies to acquire propane businesses are also fostering the growth of the global propane market. for instance, NGL Energy Partners has announced to purchase wholesale propane business of DCP Midstream. According to the agreement, NGL will have 100% ownership of 5 propane rail terminals which is operated by a subsidiary company of DCP; Gas Supply Resources.
Get Sample Brochure for More Details @ https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/propane-market-100586
“Numerous Applications of Eco-friendly Propane Gas Will Contribute to Growth”
The propane market, on the basis of application, is segmented into commercial, residential, industrial, agriculture, transportation, and chemicals. Propane is primarily used for residential purposes such as air conditioning, cooking, heating water, and refrigerating foods, lighting, dry clothes, and fueling fireplaces. Houses that utilize propane as main energy sources usually have large propane tanks outside of their house holding 500 and 1000 gallons of liquid fuel.
The industrial sector usually utilizes propane-driven fleet vehicles and forklifts. Industries also utilize propane for the purpose of vulcanizing, soldering and other processes that require a heat source. Propane is also a valuable feedstock for the chemical industry; nearly half of the propane used today is as a raw material for making plastic bags, rubber, nylon, pharmaceuticals, and other products. Millions of commercial establishments, including hotels and restaurants, depend on propane for heating, cooling, and other uses.
Farmers use propane fueled equipment to dry crops, control pests, and operate a variety of farm equipment. The demand for low emission sustainable fuel in the automotive and transportation sector is driving the propane molecule industry. Burning propane produces less greenhouse gas emissions than other types of fuel, this factor is further driving the propane industry. In addition, propane is a convenient fuel that can be refilled, transported and installed anywhere which in turn is fueling demand and boosting the growth of the global propane market.
For Detailed Analysis, Ask for Customization @ https://www.fortunebusinessinsights.com/enquiry/customization/propane-market-100586
“Increasing Electricity Generation in North America Will Support Market Growth”
Geographically, the global propane market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is predicted to dominate the global propane market owing to the wide use of propane gas for water heaters, air conditioners, pest controls, and generation of electricity in the region. The US is one of the highest exporter and producer of propane gas all over the world; recent discoveries in oil and natural gas processing from the U.S are fostering growth in North America.
In Europe, the traditional markets for propane are the off-grid consumer for space heating and cooling. In Asia-pacific, the economic growth along with rising population are the prime factors that are fueling demand for LPG in countries like India and China and enabling the growth of the propane market. In addition, the Gulf Cooperation Council has also planned to explore new untraditional sources of feedstock for chemical industry projects in Algeria and Nigeria for increasing petrochemical industries. GCC has also planned to explore new untraditional sources of feedstock for producing chemicals. This factor is predicted to boost the propane market in the region.
Contact:
Name: Ashwin Arora
Email: sales@fortunebusinessinsights.com
Phone: US +1 424 253 0390 / UK +44 2071 939123 / APAC: +91 744 740 1245
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release How Propane Market will Grow at Highest CAGR here
News-ID: 1899439 • Views: …
More Releases from Fortune Business Insights™
World Environment Day 2023: How Saving Water Can Help Us Save The Environment
Wastewater comes from homes, businesses, industrial sites and farms, as well as any stormwater or groundwater that enters the sewer system.
Specialised treatment plants process this wastewater. A combination of technologies is used to achieve the treatment objectives, based on the character of raw wastewater and use of the treated wastewater. These processes include primary, secondary and tertiary treatment. Our research, published today, found wastewater treatment removes a lot of particles,…
Cosmetics Market Research Analysis by Top Key Players, Types, New Trends and For …
The global cosmetics industry was valued at USD 277.67 billion in 2020 and is projected to grow from USD 287.94 billion in 2021 to USD 415.29 billion in 2028, exhibiting a CAGR of 5% during the 2021-2028 period.
In recent times, demand for makeup and skincare products has surged dramatically. Both men and women use it to enhance their overall appearance. The industry offers a wide variety of products, such as hair care, face care,…
Aquafeed Market Trends, Growth, Share, Size and Forecast Research Report 2028
The global aquafeed market size is anticipated to reach USD 85.17 billion by 2028 and exhibit a CAGR of 5.59% during the forecast period. The increasing popularity of aquafeed and the rising investments in the research and developments activities are projected to foster growth for the market. The market's growth is also ascribable to the increasing seafood trade due to the soaring seafood consumption and consumer expenditure on fish and…
Cricket Equipment Market Demand, Recent Trends, Size and Share Estimation by 202 …
The global cricket equipment market size was valued at USD 564.43 million in 2021 and USD 594.46 million in 2022. The market is expected to reach USD 897.02 million by 2029 with a CAGR of 6.05% during the forecast period. Growing demand for cricket bats and equipment from various institutions schools, colleges, cricket clubs, and fitness centers is anticipated to drive market growth. Increasing demand for customized sports products and cricket accessories…
More Releases for Propane
Propane-1,2-diol Price, Historical Charts, Forecasts & News
Product Name - Propane-1,2-diol
HS Code - 290532
Chemical Formula - C3H8O2
Synonyms - Propylene glycol
Currency - US$ (Data can also be provided in local currency)
Supplier Database Availability - Yes
Customization Scope - Our services can be customized as per the requirements of the customer
Post-Sale Analyst Support - 360-degree analyst support after service delivery
Region/Countries for which Data is available
Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea,…
Propane Market to Display Stunning CAGR of 4.8% from 2031 | DCC PIc, AmeriGas, P …
Propane is a compressed liquid petroleum gas that is kept in liquid form for storage. The gas has no poisonous properties and is colorless. Propane is odorless; however, a distinguishing odor is purposefully provided to aid in detection in the event of a release or leak from a pressurized container.
Propane Market Outlook 2031
The global propane market was valued at US$ 82.6 Bn in 2021
It is estimated to grow at a…
Propane Market To Scintillate From 2019-2029019-2029
Propane Market: Introduction
Propane is an alkane with a molecular formula C3H8, and is commercially referred to as Hydrocarbon Gas Liquid (HGL) and Liquefied Petroleum Gas (LPG). It is a gas at standard room temperature and pressure, however it can be compressed to a liquid form, which makes transportation easier. It is found mixed in natural gas and petroleum deposits. Propane is a by-product of natural gas and refining industry, it…
Global Propane Market Size, Status and Forecast 2025
A report added to the rich database of Zion Market Research, "Propane Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016-2024", provides a 360-degree overview of the worldwide market. The Propane Market report aims to provide a powerful resource to evaluate the Propane Market and comprises the comprehensive scrutiny and straightforward statistics relating to the market. The report offers knowledgeable information to the clients enhancing their decision-making capability…
Propane Market to Witness Robust Expansion by 2025
Market Research Report Store offers a latest published report on Propane Market Analysis and Forecast 2019-2025 delivering key insights and providing a competitive advantage to clients through a detailed report.
This report focuses on the key global Propane players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Propane with respect to individual growth trends, future prospects,…
Propane Market Outlook, Share, Analysis 2022
The global propane market is the subject of analysis of a new market research report published by Transparency Market Research (TMR). The report, titled “Propane Market - Global Industry Analysis, Size, Share, Growth Trends and Forecast 2014 - 2022”, states that the market will expand at a moderate 3.56% CAGR over the report’s forecast period and value US$145.82 bn by 2022.
View Full Report:
http://www.transparencymarketresearch.com/propane-market.html
The cleaner nature of…
