Asia Liquefied Petroleum Gas (LPG) Market Size, Share & Forecast 2026

Summary

Report Description

Asia LPG market stood at over $ 84 billion in 2019 and is projected to grow at a CAGR of over 5% by 2026, on account of increasing demand for liquefied petroleum gas as a fuel for power generation in remote and off-grid locations in comparison to its less environment-friendly alternatives like coal, diesel and fuel oil. LPG used to run vehicles is known as Autogas. Increasing demand for the same is being witnessed as it is a comparatively cheaper automotive fuel and can be used in vast applications related to transportation. Of the overall LPG consumed across the globe, nearly 87% is used for residential/consumer use.

By source, Asia LPG market has been categorized into Refinery, Associated Gases & Non-Associated Gases. Among the sources, Refinery category accounted for a largest share in 2020. However, non-Associated gases category is expected to witness the highest growth rate during 2021-2026 as LPG from non-associated gas sources is immune to crude oil price fluctuations. During 2016-2020 as well, non-associated gas-based LPG was the fastest growing segment with a CAGR of 4.8%. Natural gas, natural gas liquid/condensate and shale gas producing reserves are the major sources of non-associated gas-based LPG. Fluctuation in crude oil prices have resulted in unfavorable market conditions for refinery-based LPG. In such scenario, extracting more LPG from non-associated gas reserves becomes a more economically viable option.

Among countries, Bangladesh LPG market is expected to grow at the fastest rate during the forecast period. To counter the decreasing gas reserves of the country, LNG is scheduled to be imported and blended with domestic gas in the national gas pipeline in Bangladesh. Additionally, to support the sustainable LPG infrastructure, the government of Bangladesh is actively considering reduction of duties and taxes on import of LPG and LPG cylinders to boost import and to expand its usage to ease mounting gas crisis. The budget of FY2019-18 rationalized the Customs and Supplementary duty which has had a positive impact on LPG cylinder price for end users. India accounts for the largest share in Asia LPG market. The country becomes world's second largest LPG consumer after government's Ujjawla Push FY19. Ujjwala scheme boosted India's LPG consumption to a record high in FY19. India consumed more than 24 million tonnes of LPG in the financial year FY19.

Key players in the Asia LPG market are Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL), Petro Vietnam Gas, Reliance Industries Limited (RIL), China National Petroleum Corporation (CNPC), Sinopec, Petronas, WP Energy etc., among others.

Years considered for this report:

Historical Years: 2016-2019

Base Year: 2020

Estimated Year: 2021

Forecast Period: 2022-2026

Objective of the Study:

To analyze and forecast Asia LPG market size.
To forecast Asia LPG market based on source, technology, application and regional distribution.
To identify drivers and challenges for Asia LPG market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Asia LPG market.
To conduct the pricing analysis for Asia LPG market.
To identify and analyze the profile of leading players operating in Asia LPG market.

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of LPG producers across Asia region. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the suppliers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major LPG producers across each country in Asia.

TechSci Research calculated Asia LPG market size by using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

LPG producers
LPG suppliers, distributors and other stakeholders
LPG end user industries
Organizations, forums and alliances related to LPG market
Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as solution providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, Asia LPG market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Market, by Source:

Refinery
Associated
Non-Associated

Market, by Application:

Residential / Consumer Use
Petrochemical & Refinery
Power & Utilities
Transport / Auto-Fuel
Other Industrial Applications

Market, by LPG Composition:

Propane
Butane
Ethane

Market, by Country:

India
Indonesia
Thailand
Vietnam
Philippine
Malaysia
Bangladesh
Myanmar
Rest of Asia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Asia LPG Market

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Profit Margin Analysis

Profit margin analysis in case of direct and indirect sales channel.

Table of content

1. Liquefied Petroleum Gas (LPG): An Introduction & Product Classification

2. Research Methodology

3. Executive Summary

4. Impact of COVID-19 on Asia LPG Market

5. Voice of Customer

5.1. Major Influencing Factor affecting Vendor Selection of LPG

5.2. Challenges Faced (Need-Gap Analysis) of LPG

5.3. Satisfaction Level of Product Pricing (N=50)

6. Asia LPG Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value & Volume

6.2. Market Share & Forecast

6.2.1. By Source (Refinery; Associated Gas; Non-Associated Gas)

6.2.2. By Application (Residential/Consumer-use; Petrochemical & Refinery; Power & Utilities; Transport/Auto-fuel; Other Industrial Applications)

6.2.3. By LPG Composition (Propane; Butane; and Ethane)

6.2.4. By Country (Philippines; Vietnam; Thailand; Indonesia; Myanmar; Bangladesh; India; Malaysia and Rest of Asia)

6.2.5. By Company (2020)

6.3. Market Attractiveness Index (By Source; By Application; and By Country)

7. India LPG Market Outlook

7.1. Liquefied Petroleum Gas (LPG) Production in India

7.2. Market Size & Forecast

7.2.1. By Value & Volume

7.3. Market Share & Forecast

7.3.1. By Source

7.3.2. By Application

7.3.3. By LPG Composition

8. Thailand LPG Market Outlook

8.1. Liquefied Petroleum Gas (LPG) Production in Thailand

8.2. Market Size & Forecast

8.2.1. By Value & Volume

8.3. Market Share & Forecast

8.3.1. By Source

8.3.2. By Application

8.3.3. By LPG Composition

9. Indonesia LPG Market Outlook

9.1. Liquefied Petroleum Gas (LPG) Production in Indonesia

9.2. Market Size & Forecast

9.2.1. By Value & Volume

9.3. Market Share & Forecast

9.3.1. By Source

9.3.2. By Application

9.3.3. By LPG Composition

10. Vietnam LPG Market Outlook

10.1. Liquefied Petroleum Gas (LPG) Production in Vietnam

10.2. Market Size & Forecast

10.2.1. By Value & Volume

10.3. Market Share & Forecast

10.3.1. By Source

10.3.2. By Application

10.3.3. By LPG Composition

11. Philippines LPG Market Outlook

11.1. Liquefied Petroleum Gas (LPG) Production in Philippines

11.2. Market Size & Forecast

11.2.1. By Value & Volume

11.3. Market Share & Forecast

11.3.1. By Source

11.3.2. By Application

11.3.3. By LPG Composition

12. Malaysia LPG Market Outlook

12.1. Liquefied Petroleum Gas (LPG) Production in Malaysia

12.2. Market Size & Forecast

12.2.1. By Value & Volume

12.3. Market Share & Forecast

12.3.1. By Source

12.3.2. By Application

12.3.3. By LPG Composition

13. Bangladesh LPG Market Outlook

13.1. Liquefied Petroleum Gas (LPG) Production in Bangladesh

13.2. Market Size & Forecast

13.2.1. By Value & Volume

13.3. Market Share & Forecast

13.3.1. By Source

13.3.2. By Application

13.3.3. By LPG Composition

14. Myanmar LPG Market Outlook

14.1. Liquefied Petroleum Gas (LPG) Production in Myanmar

14.2. Market Size & Forecast

14.2.1. By Value & Volume

14.3. Market Share & Forecast

14.3.1. By Source

14.3.2. By Application

14.3.3. By LPG Composition

15. Rest of Asia LPG Market Outlook

15.1. Liquefied Petroleum Gas (LPG) Production in Rest of Asia

15.2. Market Size & Forecast

15.2.1. By Value & Volume

15.3. Market Share & Forecast

15.3.1. By Source

15.3.2. By Application

15.3.3. By LPG Composition

16. Market Dynamics

16.1. Impact Analysis

16.2. Drivers

16.3. Challenges / Restraints

17. Market Trends & Developments

18. Competitive Landscape

18.1. Company Profiles

18.1.1 Indian Oil Corporation Limited

18.1.2 Bharat Petroleum Corporation Ltd.

18.1.3 Hindustan Petroleum Corporation Limited

18.1.4 PetroVietnam Gas Joint Stock Corporation

18.1.5 Reliance Industries Limited

18.1.6 Petroliam Nasional Berhad (PETRONAS)

18.1.7 PT Pertamina Gas

18.1.8 Siamgas And Petrochemicals Ltd. (PCI.)

18.1.9 WP Energy Public Company Limited

18.1.10 Bashundhara LP Gas Limited

(Note: The companies list can be customized based on the client requirements)

19.Strategic Recommendations

20.About Us & Disclaimer

Figures and Tables

Figure 1: Major Influencing Factor affecting Vendor Selection of LPG (N=50), 2020

Figure 2: Challenges Faced (Need-Gap Analysis) of LPG (N=50), 2020

Figure 3: Satisfaction Level of Product Pricing (N=50), 2020

Figure 4: Asia Liquefied Petroleum Gas Market Size, By Value, 2016-2026F (USD Million)

Figure 5: Asia Liquefied Petroleum Gas Market Size, By Volume, 2016-2026F (MMT)

Figure 6: Asia Liquefied Petroleum Gas Market Share, By Source, By Volume, 2016-2026F (USD Million)

Figure 7: Asia Liquefied Petroleum Gas Market Share, By Application, By Volume, 2016-2026F

Figure 8: Asia Liquefied Petroleum Gas Market Share, By LPG Composition, By Volume, 2016-2026F

Figure 9: Asia Liquefied Petroleum Gas Market Share, By Country, By Volume, 2016-2026F

Figure 10: Asia Liquefied Petroleum Gas Market Share, By Company, By Volume, 2020 (MMT)

Figure 11: Asia Liquefied Petroleum Gas Market Map, By Source - Market Size (USD Million) & Growth Rate (%)

Figure 12: Asia Liquefied Petroleum Gas Market Map, By Application - Market Size (USD Million) & Growth Rate (%)

Figure 13: Asia Liquefied Petroleum Gas Market Map, By LPG Composition - Market Size (USD Million) & Growth Rate (%)

Figure 14: India Liquefied Petroleum Gas Production, 2016-2020 (MMT)

Figure 15: India Primary Energy Consumption Share, By Fuel Type, 2020

Figure 16: India Liquefied Petroleum Gas Market Size, By Value, 2016-2026F (USD Million)

Figure 17: India Liquefied Petroleum Gas Market Size, By Volume, 2016-2026F (MMT)

Figure 18: India Liquefied Petroleum Gas Market Share, By Source, By Volume, 2016-2026F

Figure 19: India Liquefied Petroleum Gas Market Share, By Application, By Volume, 2016-2026F

Figure 20: India Liquefied Petroleum Gas Market Share, By LPG Composition, By Volume, 2016-2026F

Figure 21: India Liquefied Petroleum Gas Import, By Volume, 2016-2020 (MMT)

Figure 22: India Liquefied Petroleum Gas Export, By Volume, 2016-2020 (MMT)

Figure 23: Thailand Liquefied Petroleum Gas Production, 2016-2020 (MMT)

Figure 24: Thailand Primary Energy Consumption Share, By Fuel Type, 2020

Figure 25: Thailand Liquefied Petroleum Gas Market Size, By Value, 2016-2026F (USD Million)

Figure 26: Thailand Liquefied Petroleum Gas Market Size, By Volume, 2016-2026F (MMT)

Figure 27: Thailand Liquefied Petroleum Gas Market Share, By Source, By Volume, 2016-2026F

Figure 28: Thailand Liquefied Petroleum Gas Market Share, By Application, By Volume, 2016-2026F

Figure 29: Thailand Liquefied Petroleum Gas Market Share, By LPG Composition, By Volume, 2016-2026F

Figure 30: Thailand Liquefied Petroleum Gas Import, By Volume, 2016-2020 (MMT)

Figure 31: Thailand Liquefied Petroleum Gas Export, By Volume, 2016-2020 (MMT)

Figure 32: Indonesia Liquefied Petroleum Gas Production, 2016-2020 (MMT)

Figure 33: Indonesia Primary Energy Consumption Share, By Fuel Type, 2020

Figure 34: Indonesia Liquefied Petroleum Gas Market Size, By Value, 2016-2026F (USD Million)

Figure 35: Indonesia Liquefied Petroleum Gas Market Size, By Volume, 2016-2026F (MMT)

Figure 36: Indonesia Liquefied Petroleum Gas Market Share, By Source, By Volume, 2016-2026F

Figure 37: Indonesia Liquefied Petroleum Gas Market Share, By Application, By Volume, 2016-2026F

Figure 38: Indonesia Liquefied Petroleum Gas Market Share, By LPG Composition, By Volume, 2016-2026F

Figure 39: Indonesia Liquefied Petroleum Gas Import, By Volume, 2016-2020 (MMT)

Figure 40: Indonesia Liquefied Petroleum Gas Export, By Volume, 2016-2020 (MMT)

Figure 41: Vietnam Liquefied Petroleum Gas Production, 2016-2020 (MMT)

Figure 42: Vietnam Primary Energy Consumption Share, By Fuel Type, 2020

Figure 43: Vietnam Liquefied Petroleum Gas Market Size, By Value, 2016-2026F (USD Million)

Figure 44: Vietnam Liquefied Petroleum Gas Market Size, By Volume, 2016-2026F (MMT)

Figure 45: Vietnam Liquefied Petroleum Gas Market Share, By Source, By Volume, 2016-2026F

Figure 46: Vietnam Liquefied Petroleum Gas Market Share, By Application, By Volume, 2016-2026F

Figure 47: Vietnam Liquefied Petroleum Gas Market Share, By LPG Composition, By Volume, 2016-2026F

Figure 48: Vietnam Liquefied Petroleum Gas Import, By Volume, 2016-2020 (MMT)

Figure 49: Vietnam Liquefied Petroleum Gas Export, By Volume, 2016-2020 (MMT)

Figure 50: Philippines Liquefied Petroleum Gas Production, 2016-2020 (MMT)

Figure 51: Philippines Primary Energy Consumption Share, By Fuel Type, 2020

Figure 52: Philippines Liquefied Petroleum Gas Market Size, By Value, 2016-2026F (USD Million)

Figure 53: Philippines Liquefied Petroleum Gas Market Size, By Volume, 2016-2026F (MMT)

Figure 54: Philippines Liquefied Petroleum Gas Market Share, By Source, By Volume, 2016-2026F

Figure 55: Philippines Liquefied Petroleum Gas Market Share, By Application, By Volume, 2016-2026F

Figure 56: Philippines Liquefied Petroleum Gas Market Share, By LPG Composition, By Volume, 2016-2026F

Figure 57: Philippines Liquefied Petroleum Gas Import, By Volume, 2016-2020 (MMT)

Figure 58: Philippines Liquefied Petroleum Gas Export, By Volume, 2016-2020 (MMT)

Figure 59: Malaysia Liquefied Petroleum Gas Production, 2016-2020 (MMT)

Figure 60: Malaysia Primary Energy Consumption Share, By Fuel Type, 2020

Figure 61: Malaysia Liquefied Petroleum Gas Market Size, By Value, 2016-2026F (USD Million)

Figure 62: Malaysia Liquefied Petroleum Gas Market Size, By Volume, 2016-2026F (MMT)

Figure 63: Malaysia Liquefied Petroleum Gas Market Share, By Source, By Volume, 2016-2026F

Figure 64: Malaysia Liquefied Petroleum Gas Market Share, By Application, By Volume, 2016-2026F

Figure 65: Malaysia Liquefied Petroleum Gas Market Share, By LPG Composition, By Volume, 2016-2026F

Figure 66: Malaysia Liquefied Petroleum Gas Import, By Volume, 2016-2020 (MMT)

Figure 67: Malaysia Liquefied Petroleum Gas Export, By Volume, 2016-2020 (MMT)

Figure 68: Bangladesh Liquefied Petroleum Gas Production, 2016-2020 (MMT)

Figure 69: Bangladesh Primary Energy Consumption Share, By Fuel Type, 2020

Figure 70: Bangladesh Liquefied Petroleum Gas Market Size, By Value, 2016-2026F (USD Million)

Figure 71: Bangladesh Liquefied Petroleum Gas Market Size, By Volume, 2016-2026F (MMT)

Figure 72: Bangladesh Liquefied Petroleum Gas Market Share, By Source, By Volume, 2016-2026F

Figure 73: Bangladesh Liquefied Petroleum Gas Market Share, By Application, By Volume, 2016-2026F

Figure 74: Bangladesh Liquefied Petroleum Gas Market Share, By LPG Composition, By Volume, 2016-2026F

Figure 75: Bangladesh Liquefied Petroleum Gas Import, By Volume, 2016-2020 (MMT)

Figure 76: Bangladesh Liquefied Petroleum Gas Export, By Volume, 2016-2020 (MMT)

Figure 78: Myanmar Liquefied Petroleum Gas Production, 2016-2020 (MMT)

Figure 79: Myanmar Primary Energy Consumption Share, By Fuel Type, 2020

Figure 80: Average Share of Energy Sources for 4–5 Star-Rated Hotels in Myanmar, 2020

Figure 81: Myanmar Liquefied Petroleum Gas Market Size, By Value, 2016-2026F (USD Million)

Figure 82: Myanmar Liquefied Petroleum Gas Market Size, By Volume, 2016-2026F (MMT)

Figure 83: Myanmar Liquefied Petroleum Gas Market Share, By Source, By Volume, 2016-2026F

Figure 84: Myanmar Liquefied Petroleum Gas Market Share, By Application, By Volume, 2016-2026F

Figure 85: Myanmar Liquefied Petroleum Gas Market Share, By LPG Composition, By Volume, 2016-2026F

Figure 86: Rest of Asia Liquefied Petroleum Gas Import, By Volume, 2016-2020 (MMT)

Figure 87: Rest of Asia Liquefied Petroleum Gas Export, By Volume, 2016-2020 (MMT)

Figure 88: Rest of Asia Liquefied Petroleum Gas Production, 2016-2020 (MMT)

Figure 89: Rest of Asia Liquefied Petroleum Gas Market Size, By Value, 2016-2026F (USD Million)

Figure 90: Rest of Asia Liquefied Petroleum Gas Market Size, By Volume, 2016-2026F (MMT)

Figure 91: Rest of Asia Liquefied Petroleum Gas Import, By Volume, 2016-2020 (MMT)

Figure 92: Rest of Asia Liquefied Petroleum Gas Export, By Volume, 2016-2020 (MMT)

List of Tables:

Table 1: Asia Liquefied Petroleum Gas Market Size, By Volume, 2016-2026F (MMT)

Table 2: Asia Liquefied Petroleum Gas Market Size, By Application, By Volume, 2016-2026F (MMT)

Table 3: Asia Liquefied Petroleum Gas Market Size, By LPG Composition, By Volume, 2016-2026F (MMT)

Table 4: Asia Liquefied Petroleum Gas Market Size, By Country, By Volume, 2016-2026F (MMT)

Table 5: Number of LPG Bottling Plants in India, By Region, By Bottling Capacity (as of 1 April 2021)

Table 6: India Liquefied Petroleum Gas Market Size, By Source, By Volume, 2016-2026F (MMT)

Table 7: India Liquefied Petroleum Gas Market Size, By Application, By Volume, 2016-2026F (MMT)

Table 8: India Liquefied Petroleum Gas Market Size, By LPG Composition, By Volume, 2016-2026F (MMT)

Table 9: Thailand Domestic LPG Production, By Source, 2020

Table 10: Thailand Refinery Capacity, 2020

Table 11: Thailand Liquefied Petroleum Gas Market Size, By Source, By Volume, 2016-2026F (MMT)

Table 12: Thailand Liquefied Petroleum Gas Market Size, By Application, By Volume, 2016-2026F (MMT)

Table 13: Thailand Liquefied Petroleum Gas Market Size, By LPG Composition, By Volume, 2016-2026F (MMT)

Table 14: Indonesia Energy Consumption, By Sector, 2020

Table 15: Indonesia Liquefied Petroleum Gas Market Size, By Source, By Volume, 2016-2026F (MMT)

Table 16: Indonesia Liquefied Petroleum Gas Market Size, By Application, By Volume, 2016-2026F (MMT)

Table 17: Indonesia Liquefied Petroleum Gas Market Size, By LPG Composition, By Volume, 2016-2026F (MMT)

Table 18: Vietnam Liquefied Petroleum Gas Market Size, By Source, By Volume, 2016-2026F (MMT)

Table 19: Vietnam Liquefied Petroleum Gas Market Size, By Application, By Volume, 2016-2026F (MMT)

Table 20: Vietnam Liquefied Petroleum Gas Market Size, By LPG Composition, By Volume, 2016-2026F (MMT)

Table 21: Philippines LPG Stakeholders, 2020

Table 22: Philippines Liquefied Petroleum Gas Market Size, By Source, By Volume, 2016-2026F (MMT)

Table 23: Philippines Liquefied Petroleum Gas Market Size, By Application, By Volume, 2016-2026F (MMT)

Table 24: Philippines Liquefied Petroleum Gas Market Size, By LPG Composition, By Volume, 2016-2026F (MMT)

Table 25: Yearly LPG Contract Prices, By Type of Gas (USD/MT)

Table 26: Malaysia Liquefied Petroleum Gas Market Size, By Source, By Volume, 2016-2026F (MMT)

Table 27: Malaysia Liquefied Petroleum Gas Market Size, By Application, By Volume, 2016-2026F (MMT)

Table 28: Malaysia Liquefied Petroleum Gas Market Size, By LPG Composition, By Volume, 2016-2026F (MMT)

Table 29: Bangladesh Liquefied Petroleum Gas Market Size, By Source, By Volume, 2016-2026F (MMT)

Table 30: Bangladesh Liquefied Petroleum Gas Market Size, By Application, By Volume, 2016-2026F (MMT)

Table 31: Bangladesh Liquefied Petroleum Gas Market Size, By LPG Composition, By Volume, 2016-2026F (MMT)

Table 32: Myanmar Liquefied Petroleum Gas Market Size, By Source, By Volume, 2016-2026F (MMT)

Table 33: Myanmar Liquefied Petroleum Gas Market Size, By Application, By Volume, 2016-2026F (MMT)

Table 34: Myanmar Liquefied Petroleum Gas Market Size, By LPG Composition, By Volume, 2016-2026F (MMT)

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