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市場調査レポート
商品コード
1468560
プロパンの市場レポート:形態、グレード、最終用途産業、地域別、2024~2032年Propane Market Report by Form (Liquid, Gas), Grade (HD-5 Propane, HD-10 Propane, Commercial Propane), End Use Industry (Residential, Commercial, Transportation, and Others), and Region 2024-2032 |
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カスタマイズ可能
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プロパンの市場レポート:形態、グレード、最終用途産業、地域別、2024~2032年 |
出版日: 2024年04月08日
発行: IMARC
ページ情報: 英文 137 Pages
納期: 2~3営業日
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世界のプロパン市場規模は2023年に1億8,110万トンに達しました。IMARC Groupは、2032年の市場規模は2億4,870万トンに達し、2024~2032年の成長率(CAGR)は3.5%になると予測しています。エネルギー需要の拡大、産業用途の拡大、地政学的イベントや原油価格に影響される供給力学、よりクリーンなエネルギー源への移行などが、市場を推進する主要要因です。
プロパンはアルカン族に属する無色無臭の気体です。3個の炭素原子と8個の水素原子(C3H8)から成り、暖房、調理、さまざまな産業用途の燃料源として広く使用されています。プロパンは多くの場合、天然ガス処理や原油精製から得られます。中程度の圧力で液化石油ガス(LPG)になり、加圧タンクに貯蔵されます。クリーンな燃焼特性と高いエネルギー含有量により、住宅や商業施設の暖房システム、自動車、ポータブル・ストーブ、その他信頼性が高く汎用性の高いエネルギー源を必要とする電化製品に効率的な選択肢となっています。
環境問題への懸念と政府の厳しい規制により、脱炭素化と持続可能なエネルギー源への世界の後押しが高まっていることが、比較的低排出ガスで効率的な燃料源としてのプロパンの採用を後押しし、市場の成長を加速させています。これに加えて、温室効果ガス(GHG)排出量が少なく、クリーンな燃焼特性を持つことから、様々な産業、家庭、輸送部門において、従来の化石燃料よりもプロパンが好まれる傾向が高まっていることも、市場の成長に寄与しています。さらに、石油化学業界では、プラスチックや化学製品の生産における原料のニーズが拡大しているため、重要な原料としてプロパンへの需要が高まっており、市場拡大への明るい展望が生まれています。これに加えて、輸送、農業、発電などのセグメントにわたるプロパンの汎用性が、プロパン需要の増加に寄与しています。さらに、プロパンの生産、貯蔵、流通インフラにおける大幅な技術進歩が、この多用途燃料の入手しやすさと値ごろ感を高め、市場の成長を強化しています。
エネルギー需要と移行
世界のプロパン産業の主要な促進要因の一つは、進化するエネルギー情勢です。様々な国が二酸化炭素排出量を削減し、よりクリーンなエネルギー源への移行を目指す中、プロパンは多用途で環境に優しい選択肢として浮上しています。プロパンは、石炭や石油といった従来の化石燃料に比べて炭素排出量が少ないため、特に住宅暖房、調理、輸送といった様々な用途で魅力的な選択肢となっています。天然ガス・パイプラインへのアクセスが制限されている地域では、プロパンは暖房や発電のための利用しやすい代替手段を記載しています。これとは別に、非電化地域、遠隔地、バックアップパワーシステム用の燃料としての適応性が、信頼できるエネルギーソリューションを求める国々の需要を高めています。
工業用途と石油化学需要
プロパンの重要性はエネルギーだけにとどまらないです。繁栄する石油化学産業は、プラスチック、化学薬品、その他の必須材料を生産するための原料として機能するため、プロパン需要を促進する上で重要な役割を果たしています。プラスチックの消費量が世界的に増加し続けるにつれて、プロパンの需要も増加しています。様々な石油化学プロセスのコンポーネントとしてのプロパンの多用途性は、製造部門におけるプロパンの重要性を強調しています。石油化学産業の成長と技術革新は、プロパンの安定的かつ一貫した供給に依存しており、市場の原動力としてのプロパンの地位はさらに強固なものとなっています。
市場力学と供給要因
地政学的イベント、原油価格の変動、供給の混乱は、プロパン業界に大きな影響を及ぼします。プロパンは多くの場合、天然ガス処理や原油精製の製品別です。従って、これらの産業における変化は、プロパンの入手可能性と価格に直接影響を与えます。これと同様に、地政学的緊張や主要産油国の決定による生産変動は、供給に変動をもたらし、プロパンの需要を高める可能性があります。さらに、気象条件、特に暖房に不可欠な寒冷地では、プロパンの需要を押し上げています。需要と供給のバランスは、価格動向や取引パターンを決定する極めて重要な市場力学であり、市場参入企業の意思決定や投資戦略に影響を与えます。
The global propane market size reached 181.1 Million Tons in 2023. Looking forward, IMARC Group expects the market to reach 248.7 Million Tons by 2032, exhibiting a growth rate (CAGR) of 3.5% during 2024-2032. The growing energy demand, expanding industrial applications, supply dynamics influenced by geopolitical events and crude oil prices, and the transition to cleaner energy sources are some of the major factors propelling the market.
Propane is a colorless, odorless gas belonging to the alkane family. It comprises three carbon atoms and eight hydrogen atoms (C3H8) and is widely used as a fuel source for heating, cooking, and various industrial applications. Propane is often derived from natural gas processing or crude oil refining. It becomes a liquefied petroleum gas (LPG) under moderate pressure and is stored in pressurized tanks. Its clean-burning properties and high energy content make it an efficient choice for residential and commercial heating systems, as well as vehicles, portable stoves, and other appliances that require a reliable and versatile source of energy.
The escalating global push towards decarbonization and sustainable energy sources due to environmental concerns and stringent government regulations have bolstered the adoption of propane as a relatively low-emission and efficient fuel source, thus primarily accelerating the market growth. In addition to this, the rising preference for propane over traditional fossil fuels, due to its lower greenhouse gas (GHG) emissions and clean-burning characteristics, across various industrial verticals, households, and transportation sectors are contributing to the market's growth. Furthermore, the petrochemical industry's expanding need for feedstock in the production of plastics and chemicals has heightened the demand for propane as a crucial raw material, creating a positive outlook for market expansion. Besides this, the versatility of propane across sectors, such as transportation, agriculture, and power generation, are contributing to the increasing demand for propane. Moreover, significant technological advancements in propane production, storage, and distribution infrastructure have enhanced the accessibility and affordability of this versatile fuel, thereby strengthening the market growth.
Energy demand and transition
One of the prime drivers of the global propane industry is the evolving energy landscape. With various countries striving towards reducing their carbon footprint and transitioning towards cleaner energy sources, propane emerges as a versatile and environmentally friendly option. Propane's lower carbon emissions compared to traditional fossil fuels, such as coal and oil, position it as an attractive choice for various applications, particularly in residential heating, cooking, and transportation. In regions with restricted access to natural gas pipelines, propane offers an accessible alternative for heating and power generation. Apart from this, its adaptability as a fuel for off-grid areas, remote locations, and backup power systems enhances its demand as countries seek reliable energy solutions.
Industrial applications and petrochemical demand
Propane's significance extends beyond energy. The thriving petrochemical industry plays a crucial role in driving propane demand, as it serves as a feedstock to produce plastics, chemicals, and other essential materials. As global consumption of plastics continues to rise, so does the demand for propane. The versatile nature of propane as a building block for various petrochemical processes underscores its importance in the manufacturing sector. The petrochemical industry's growth and innovation rely on a stable and consistent supply of propane, further solidifying its position as a driving force in the market.
Market dynamics and supply factors
Geopolitical events, changes in crude oil prices, and supply disruptions exert significant influence on the propane industry. Propane is often a byproduct of natural gas processing and crude oil refining. Therefore, shifts in these industries directly impact propane availability and pricing. In line with this, production changes due to geopolitical tensions or decisions by major oil-producing countries can create fluctuations in supply, bolstering the demand for propane. Furthermore, weather conditions, especially in cold regions where it is essential for heating, are impelling the demand for propane. The balance between supply and demand is a pivotal market dynamic that can determine price trends and trade patterns, influencing market participants' decisions and investment strategies.
IMARC Group provides an analysis of the key trends in each segment of the global propane market report, along with forecasts at the global, regional and country levels for 2024-2032. Our report has categorized the market based on form, grade and end use industry.
Liquid
Gas
The report has provided a detailed breakup and analysis of the market based on the form. This includes liquid and gas.
Liquid propane, often referred to as LPG, is prized for its portability and ease of storage, making it a favored choice for residential, commercial, and industrial settings. Moreover, the expanding use of LPG as a crucial energy source for off-grid locations, remote areas, and outdoor activities, such as camping and grilling, is acting as another significant growth-inducing factor. Besides this, the convenience of transportable LPG cylinders and tanks allows for flexible usage in various appliances, thereby propelling the market forward. Apart from this, the surging need for constant gas propane supply, delivered through pipelines in urban areas and industries for powering heating systems, stoves, and industrial processes efficiently, is strengthening the market growth. Concurrently, the complementary nature of liquid and gas propane caters to diverse energy needs and ultimately impels their combined demand across a spectrum of applications.
HD-5 Propane
HD-10 Propane
Commercial Propane
The report has provided a detailed breakup and analysis of the market based on the grade. This includes HD-5, HD-10, and commercial propane.
The rising use of HD-5 propane in applications that require precise and consistent combustion, such as in forklifts, residential heating, and food processing, owing to its high purity and low moisture content, is contributing to the market's growth. In addition to this, HD-10 propane, with slightly relaxed purity standards, remains a popular choice for similar applications, offering a cost-effective alternative while maintaining acceptable performance. Furthermore, the surging demand for commercial propane across a wide array of industrial verticals, including agriculture, construction, hospitality, and transportation, due to its versatility and adaptability to various equipment and processes, is presenting lucrative opportunities for the market. Concurrent with this, the widespread product utilization as a reliable fuel source, supporting operations ranging from irrigation pumps and space heating to fleet vehicles, is aiding in market expansion.
Residential
Commercial
Transportation
Others
Residential holds the largest share in the market
A detailed breakup and analysis of the market based on the end use industry has also been provided in the report. This includes residential, commercial, transportation, and others. According to the report, residential accounted for the largest market share.
The growing use of propane in the residential sector is driven by its distinctive advantages and contributions to modern living. As homeowners increasingly prioritize energy efficiency and environmental responsibility, propane emerges as a clean-burning alternative that significantly reduces GHG emissions compared to traditional fossil fuels. Moreover, its versatility in powering a range of residential applications, including space and water heating, cooking, and backup power generation, is contributing to the market's growth. In addition to this, propane's widespread availability, especially in areas without natural gas infrastructure, ensures consistent access to energy for households. Furthermore, ongoing technological advancements have enhanced propane appliances' efficiency and safety, further boosting their appeal.
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Asia Pacific exhibits a clear dominance, accounting for the largest propane market share
The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific accounted for the largest market share.
The Asia Pacific propane market is experiencing robust growth driven by rapid urbanization, industrialization, and economic development. Besides this, widespread product utilization across various sectors, such as manufacturing, agriculture, and residential heating, is contributing to the market's growth. In countries such as China and India, where energy consumption is soaring, propane serves as a cleaner alternative, aligning with governmental efforts to mitigate air pollution and reduce carbon emissions. Moreover, the expansion of LPG distribution networks and increased consumer awareness are further bolstering propane's role in catering to the rising energy needs of both urban and rural areas. The region's strategic investments in propane infrastructure, coupled with its burgeoning middle class and evolving energy policies, are aiding in market expansion.
The global propane industry is characterized by a dynamic competitive landscape shaped by various factors. Key players in the market include major oil and gas companies, regional energy providers, and LPG distributors. These players often engage in exploration, production, and distribution activities, influencing supply dynamics. Market competitiveness is also driven by the diverse applications of propane, ranging from residential heating and cooking to industrial processes and transportation. The growth of cleaner energy trends has prompted these companies to invest in research and development to enhance propane efficiency and environmental performance. Geopolitical events, supply disruptions, and fluctuations in crude oil prices significantly shape the competitive environment, impacting pricing and trade dynamics. Regulatory frameworks, environmental policies, and technological advancements further contribute to competitive strategies as companies strive to meet evolving market demands.
Air Liquide S.A.
BP plc
Chevron Corporation
China National Petroleum Corporation
China Petroleum & Chemical Corporation
ConocoPhillips Company
Eni S.p.A.
Evonik Industries AG
Exxon Mobil Corporation
GAIL (India) Limited
Gazprom
Indian Oil Corporation Ltd.
Royal Dutch Shell plc
Saudi Arabian Oil Co.
TotalEnergies SE
In August 2023, Chevron Corporation announced its acquisition of PDC Energy, Inc. The acquisition includes 275,000 net acres in the Denver-Julesburg Basin and 25,000 net acres in the Permian Basin, adding over 1 billion barrels of proved reserves.