Get the latest insights on price movement and trend analysis of Liquefied Petroleum Gas (LPG) in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

In the first quarter of 2025, the Liquefied Petroleum Gas (LPG) market in the North American region experienced significant price fluctuations, reflecting tight supply conditions, extreme weather events, and changing demand dynamics. A sharp price increase was seen at the beginning of the quarter due to the combined impact of severe winter storms, which heightened demand for heating fuels and led to inventory draws. Propane and butane prices surged, driven by increased consumption, higher crude oil and natural gas prices, and a surge in LPG exports.

Propane rose to 0.72 USD/Gal on July 23, 2025, up 0.84% from the previous day. Over the past month, Propane's price has fallen 6.94%, and is down 9.56% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Propane - values, historical data, forecasts and news - updated on July of 2025.

Price for Liquefied Petroleum Gas (LPG) in the United States - 2023. Find the latest marketing data on the IndexBox platform.

The global liquefied petroleum gas (LPG) market rose significantly to $199.9B in 2024, with an increase of 6.5% against the previous year. Over the period under review, consumption showed a modest expansion. Over the period under review, the global market hit record highs at $201.9B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

Saudi Arabia Fuel Prices: Retail: LPG data was reported at 1.040 SAR/l in Apr 2025. This stayed constant from the previous number of 1.040 SAR/l for Mar 2025. Saudi Arabia Fuel Prices: Retail: LPG data is updated monthly, averaging 0.900 SAR/l from Jul 2020 (Median) to Apr 2025, with 58 observations. The data reached an all-time high of 1.040 SAR/l in Apr 2025 and a record low of 0.750 SAR/l in May 2022. Saudi Arabia Fuel Prices: Retail: LPG data remains active status in CEIC and is reported by Saudi Arabian Oil Company. The data is categorized under Global Database’s Saudi Arabia – Table SA.P016: Fuel Prices. [COVID-19-IMPACT]

Price for Liquefied Petroleum Gas (LPG) in Japan - 2023. Find the latest marketing data on the IndexBox platform.

Get the latest insights on price movement and trend analysis of Propane in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

The Average Residential Retail Propane Prices dataset provides New York residents and businesses with objective information on average residential retail propane pricing in New York State and by region beginning September 8, 1997. Pricing data is obtained via surveys conducted by New York State Energy Research and Development Authority (NYSERDA) staff on a weekly basis during heating season (September to March) and bi-weekly during the rest of the year. All prices are listed in dollars per gallon. The Average Home Heating Oil Prices dataset, Average Residential Retail Kerosene Prices dataset, and Average Residential Retail Propane Prices dataset are collectively referred to as the Heating Fuel Prices dataset. For current and historical residential retail price data, regional comparisons, and fuel type comparisons, please visit the Propane Prices Dashboard: https://www.nyserda.ny.gov/researchers-and-policymakers/energy-prices/propane/average-propane-prices The New York State Energy Research and Development Authority (NYSERDA) offers objective information and analysis, innovative programs, technical expertise, and support to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce reliance on fossil fuels. To learn more about NYSERDA’s programs, visit nyserda.ny.gov or follow us on X, Facebook, YouTube, or Instagram.

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Liquefied Petroleum Gas (LPG) Market Size 2025-2029

The liquefied petroleum gas (LPG) market size is forecast to increase by USD 55.2 billion, at a CAGR of 3.3% between 2024 and 2029.

The LPG market is witnessing significant shifts, driven by the surge in natural gas supply and the emergence of virtual pipeline technology (VPT). The abundant availability of natural gas has led to a rise in its production and subsequent conversion into LPG, posing a challenge for market players. Simultaneously, the adoption of VPT is gaining momentum, enabling the transportation of LPG through virtual pipelines, thereby reducing the dependence on traditional transportation methods and infrastructure. However, this market faces stiff competition from other sources of energy, particularly natural gas and renewables, which are increasingly becoming cost-competitive and environmentally sustainable.
Companies in the LPG market must navigate these challenges by exploring innovative business models, enhancing operational efficiency, and focusing on sustainability to maintain their market position and capitalize on emerging opportunities.

What will be the Size of the Liquefied Petroleum Gas (LPG) Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The market continues to evolve, driven by dynamic market conditions and diverse applications across various sectors. LPG distribution networks expand and contract in response to shifting demand, with regulations playing a crucial role in shaping the industry. LPG regulations ensure safety and quality, influencing the design and certification of LPG cylinders, vaporizers, and appliances. LPG market volatility, influenced by supply and demand factors, impacts pricing and influences the use of additives for blending and enhancing LPG properties. LPG emissions, a critical concern for environmental sustainability, are addressed through advancements in LPG combustion technology and emissions control systems.

LPG's versatility extends to industrial, residential, and commercial applications, including heating, refrigeration, fuel injection, and cooking. LPG's energy efficiency and sustainability make it a preferred choice for agriculture and transportation. LPG pipelines and filling stations facilitate the distribution of LPG, ensuring a consistent supply to meet the growing demand. LPG conversion kits enable the transition from traditional fuels to LPG, further expanding its reach. LPG's calorific value and various analytical techniques, such as mass spectrometry and gas chromatography, are used for quality control and assurance. The LPG market's continuous evolution is underpinned by ongoing advancements in technology, regulations, and market dynamics.

The integration of LPG into various industries and applications underscores its importance as a versatile and sustainable energy source.

How is this Liquefied Petroleum Gas (LPG) Industry segmented?

The liquefied petroleum gas (lpg) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Residential
  Petrochemical
  Industrial and commercial
  Transport
  Others


Source

  Natural gas liquid
  Crude oil


Distribution Channel

  Cylinder Distribution
  Bulk
  On-site storage


Geography

  North America

    US
    Canada


  Europe

    Germany
    UK


  APAC

    Australia
    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

.

By End-user Insights

The residential segment is estimated to witness significant growth during the forecast period.

Liquefied Petroleum Gas (LPG), consisting primarily of propane and butane, is a versatile energy source with numerous applications. In residential areas, LPG is utilized for water and space heating and cooling. In developing countries, it serves as a substitute for electricity for lighting. For outdoor activities like barbecues and camping in developed nations, LPG is commonly used. LPG is liquefied for bulk storage and transportation due to its high density in this state. Refrigeration is essential for LPG shipment by sea and large-volume storage at receiving terminals. LPG's high-energy content, per ton in a liquid state, surpasses that of traditional fuels and most oil products.

LPG infrastructure includes certification for safety standards, vaporizers, fuel injection systems, and blending facilities. LPG is employed extensively in industrial applications, including refrigeration, heating, water heating, and cooking. LPG's energy efficiency, coupled with its clean-burning properties, makes it an attractive alternative to conv

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US Propane Market Size 2025-2029

The US propane market size is forecast to increase by USD 8.42 billion at a CAGR of 6.6% between 2024 and 2029.

The Propane market in the US is experiencing significant growth, driven by advancements in propane storage and transportation technologies. These innovations have increased the efficiency and safety of propane handling, making it an attractive alternative fuel for various industries, including residential, commercial, and industrial sectors. Furthermore, the development of renewable propane, derived from natural gas processing and biomass, is expanding the market's reach and reducing its carbon footprint. However, the market's growth is not without challenges. Competitive alternative fuels, such as natural gas and electricity, are gaining popularity due to their lower carbon emissions and increasing affordability. To capitalize on market opportunities and navigate these challenges effectively, companies must focus on improving propane's competitiveness through cost reduction, efficiency gains, and the adoption of cleaner production methods.
Additionally, collaboration with government agencies and industry associations to promote the use of propane as a clean and efficient fuel source can help mitigate competition and strengthen the market's strategic landscape.

What will be the size of the US Propane Market during the forecast period?

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The propane market in the US continues to evolve, driven by various factors including propane technology advancements, alternative fuel infrastructure development, and grid modernization projects. Propane's versatility as an energy source, coupled with its environmental sustainability initiatives such as emission reduction and renewable energy integration, positions it as a key player in the energy transition. Propane's adoption is further boosted by smart grid deployment and energy efficiency standards, as well as the increasing focus on energy security policies and sustainable development goals. Propane's competition with natural gas and the emergence of alternative fuels like hydrogen and biodiesel, as well as electric vehicle infrastructure, necessitate continuous innovation and cost savings through propane efficiency improvements, system maintenance, and demand forecasting.
Propane's role in clean energy investments, carbon offsetting programs, and carbon capture technologies also contribute to its market outlook. Propane's price volatility, safety training, and delivery logistics remain critical areas of focus, while regulations compliance and appliance repair are essential for maintaining consumer trust and market growth. Overall, the propane market's future direction is influenced by the interplay of these factors and the evolving energy landscape.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Industrial
  Commercial
  Residential
  Others


Grade Type

  HD-5 propane
  HD-10 propane
  Commercial propane


Type

  Gas
  Liquid


Application

  Heating
  Cooking
  Power Generation
  Motor Fuel
  Industrial Processes
  Others


Geography

  US

By End-user Insights

The industrial segment is estimated to witness significant growth during the forecast period.

Propane, a versatile energy source, plays a significant role in various industries and applications in the US. Its demand is influenced by economic activity, particularly in manufacturing and construction sectors, where propane is used for heating, processing, and other applications. Cold weather increases the demand for propane in industries such as agriculture, food processing, and construction, which rely on it for heating and drying. Seasonal fluctuations in weather patterns also impact short-term demand. Propane competes with other energy sources, including natural gas, electricity, and heating oil. The relative cost of propane versus these alternatives influences demand.

Propane is also used in various applications, such as forklifts, buses, generators, cooking, and heating, offering energy security and independence. Propane innovation continues to drive the market, with advancements in green technology, energy storage, carbon capture, and renewable fuels. Sustainable development and environmental sustainability are key considerations, with regulations focusing on reducing greenhouse gas emissions and improving energy efficiency. The market also includes propane retailers, suppliers, and distributors, offering various services such as fueling, delivery, and conversion. The industrial sector's demand for propane is expected to remain strong, driven by its versatility, efficiency, and competitiveness.

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This statistic illustrates the liquefied petroleum gas (LPG) monthly price trend in Italy from ********* to **************. The price of a liter of LPG peaked in ************, at roughly **** euros. By **************, the consumer price of LPG had decreased to about **** euros per liter.

In 2024, the Ghanian liquefied petroleum gas (LPG) market decreased by -8.8% to $200M for the first time since 2016, thus ending a seven-year rising trend. Overall, consumption, however, saw a pronounced increase. Liquefied petroleum gas (LPG) consumption peaked at $219M in 2023, and then shrank in the following year.

The global propane market, valued at approximately $XX million in 2025, is projected to experience robust growth, exhibiting a compound annual growth rate (CAGR) of 4.33% from 2025 to 2033. This expansion is driven by several key factors. Increased demand from the petrochemical industry, particularly for propylene production, fuels significant market growth. Rising adoption of propane as a cleaner-burning alternative fuel in residential and commercial heating, as well as in transportation sectors (autogas), further contributes to the market's expansion. Developing economies, especially in Asia-Pacific, are witnessing rapid industrialization and urbanization, leading to a surge in energy consumption and consequently bolstering propane demand. Technological advancements in propane storage and handling, coupled with improved distribution infrastructure, enhance market accessibility and contribute to overall growth. However, price volatility linked to crude oil prices and the potential impact of alternative energy sources present challenges to sustained growth. Furthermore, stringent environmental regulations in some regions might necessitate investments in emission control technologies, potentially impacting market profitability. Major players like Air Liquide, BP, Chevron, Sinopec, PetroChina, ConocoPhillips, Eni, ExxonMobil, GAIL, Gazprom, Shell, Saudi Aramco, and Suburban Propane are key contributors to the market, leveraging their established infrastructure and distribution networks. Competition is intense, with companies focusing on strategic partnerships, capacity expansions, and technological innovations to maintain market share. Future growth will be shaped by government policies promoting cleaner energy solutions, evolving consumer preferences towards sustainable fuels, and the continuous development of downstream applications for propane derivatives. The market is segmented by various factors including application, region, and distribution channel, offering growth opportunities across multiple segments. The forecast period (2025-2033) anticipates continued expansion, although the pace might fluctuate based on macroeconomic conditions and global energy dynamics. Recent developments include: March 2022: KBR and ExxonMobil Catalysts and Licensing LLC ("ExxonMobil") will collaborate to bring significant advancements to propane dehydrogenation (PDH) technology. Under the collaboration, ExxonMobil's new proprietary catalyst technology will be combined with KBR's proprietary K-PRO Propane Dehydrogenation (PDH) technology to convert propane into propylene., October 2021: Suburban Propane Partners LP announced the extension of its 2020 agreement with U-Haul to provide eco-friendly and renewable propane in California.. Key drivers for this market are: Increase in Demand from the Residential and Transportation Sectors, Demand in the Petrochemical Industry. Potential restraints include: Increase in Demand from the Residential and Transportation Sectors, Demand in the Petrochemical Industry. Notable trends are: Residential Segment to Dominate the Market.

Natural gas fell to 3.25 USD/MMBtu on July 22, 2025, down 2.13% from the previous day. Over the past month, Natural gas's price has fallen 14.59%, but it is still 48.80% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Natural gas - values, historical data, forecasts and news - updated on July of 2025.

The Liquefied Petroleum Gas (LPG) market, currently valued at approximately $XX million (assuming a reasonable market size based on industry reports and growth rates of similar markets), is projected to experience robust growth with a Compound Annual Growth Rate (CAGR) exceeding 5% from 2025 to 2033. Several factors contribute to this positive outlook. Increasing urbanization and industrialization, particularly in developing economies within Asia-Pacific and the Middle East & Africa, fuel the demand for LPG as a clean and relatively affordable cooking fuel and industrial feedstock. The shift towards cleaner energy sources, coupled with government initiatives promoting LPG adoption for reducing air pollution in residential areas, further boosts market growth. The diverse applications of LPG across residential, commercial, industrial, and autofuel sectors ensure a broad and stable demand base. However, fluctuations in crude oil prices pose a significant challenge, directly impacting LPG production costs and price volatility. Competition from alternative fuels, such as natural gas and biofuels, also presents a restraint, necessitating continuous innovation and efficiency improvements within the LPG industry. The market is segmented by source of production (crude oil and natural gas liquids) and application, allowing for targeted market penetration strategies. Leading players like BP PLC, Exxon Mobil Corporation, and others are actively engaged in expanding production capacity and optimizing supply chains to capitalize on the growing demand. The geographical distribution of the LPG market reflects varying levels of development and energy consumption patterns. North America and Europe, while mature markets, maintain substantial demand, especially for industrial applications. However, the fastest growth is anticipated in Asia-Pacific and the Middle East & Africa, driven by population growth and rising energy needs. This geographic segmentation presents strategic opportunities for LPG producers to tailor their offerings and investments to meet region-specific requirements. Furthermore, advancements in LPG storage and transportation technologies, including the development of safer and more efficient cylinders and pipelines, are expected to further enhance the market's growth trajectory over the forecast period. The continuous improvement in safety standards and regulatory frameworks surrounding LPG handling also contributes to increased consumer confidence and market expansion. Recent developments include: In October 2022, Maire Tecnimont S.p.A. announced that its principal subsidiary, Tecnimont S.p.A., was awarded an EPC contract by SONATRACH's Direction Centrale Engineering & Project Management for the execution of an LPG extraction plant within the existing Rhourde El Baguel oil and gas treatment complex in northeastern Algeria. The total contract value is around USD 380 million., In February 2022, Indian Oil Corp. (IOC) announced plans to construct three new plants in Northeast India to increase its LPG bottling capacity by nearly 53% or to 8 crore cylinders annually by 2030 to meet the growing demand in the region. The total investment in the plant expansion is likely to range between USD 43- 46 million.. Notable trends are: LPG Extracted from Natural Gas Liquids to Dominate the Market.

This dataset contains weekly retail prices of three grades of gasoline, diesel, auto propane and compressed natural gas in 10 Ontario markets. Prices are in cents per litre (with compressed natural gas prices in cents per gasoline-equivalent litres). To view charts and current fuel price data you can also visit the motor fuel prices page. This data is related to: * Motor fuel prices * Law: Fuel Tax Act Related data: * Fuel and gasoline tax registrant list

The global propane market is expected to grow in the forecast period of 2025-2034 at a CAGR of 4.00%.

The Liquefied Petroleum Gas (LPG) cylinder market is experiencing robust growth, driven by increasing urbanization, rising energy demand in developing economies, and the expanding adoption of LPG as a cleaner cooking fuel. The market size in 2025 is estimated at $15 billion (this is an assumption based on typical market sizes for related industries and is not presented as factual data), demonstrating substantial market potential. A Compound Annual Growth Rate (CAGR) of 6% is projected for the period 2025-2033, indicating consistent market expansion. This growth is further fueled by government initiatives promoting cleaner fuel adoption and technological advancements leading to improved cylinder safety and efficiency. Key players like Worthington Industries, Huanri, and Luxfer Gas Cylinders are driving innovation and competition, leading to product diversification and enhanced market penetration. However, the market faces certain challenges. Fluctuations in LPG prices, stringent safety regulations, and the increasing popularity of alternative fuels such as CNG and electricity pose constraints to market expansion. Regional variations in growth trajectories are expected, with developing nations demonstrating potentially higher growth rates compared to developed markets, primarily due to rising disposable incomes and expanding energy access. Segmentation within the market, encompassing various cylinder sizes, materials (steel, composite), and applications (domestic, industrial), offers opportunities for targeted market penetration. The competitive landscape is characterized by a mix of established international players and regional manufacturers, leading to ongoing innovation and price competition. Future growth will depend on addressing regulatory hurdles, managing price volatility, and effectively communicating the safety and environmental benefits of LPG to consumers.

LPG Gas Cylinder Market Outlook

The LPG gas cylinder market size is poised for steady growth, with an estimated market size of USD 7.5 billion in 2023, and projections indicating a growth to approximately USD 11.2 billion by 2032. This growth is driven by a compound annual growth rate (CAGR) of 4.5% from 2024 to 2032. The primary growth factor propelling this market is the increasing demand for clean and efficient energy sources across both residential and commercial sectors worldwide. As economies continue to develop and urbanize, the need for safer and more environmentally friendly cooking and heating solutions becomes even more pronounced, further bolstering the LPG gas cylinder market.

One of the crucial growth factors within the LPG gas cylinder market is the global push towards reducing carbon emissions and promoting sustainable energy. As governments around the world set ambitious targets for reducing greenhouse gas emissions, many are incentivizing the use of LPG as a cleaner alternative to coal and oil. LPG is recognized for its low sulfur content and high calorific value, making it an efficient and less polluting energy source. This shift towards cleaner energy has led to increasing adoption of LPG in residential, commercial, and industrial applications, driving the demand for LPG cylinders significantly.

Additionally, the rising urban population and economic development in emerging economies are key drivers of the LPG gas cylinder market. As more people migrate to urban areas, the demand for reliable and portable energy sources grows. LPG cylinders, with their portability and ease of use, are ideally suited to meet these needs, especially in regions where piped natural gas infrastructure is unavailable or underdeveloped. The increasing purchasing power in these regions is another critical factor, allowing more consumers to switch from traditional biomass fuels to LPG, further expanding the market.

Technological advancements in cylinder manufacturing and safety features are also playing a significant role in market growth. Innovations such as composite cylinders, which are lighter and more durable than traditional steel cylinders, are gaining traction. These advancements not only improve safety by reducing the risk of leaks and explosions but also enhance user convenience. Furthermore, improvements in valve technology and pressure regulators are contributing to safer and more efficient usage, thus encouraging more consumers to opt for LPG cylinders.

Propane Cylinders are an integral part of the LPG gas cylinder market, offering versatile applications across various sectors. These cylinders are particularly valued for their portability and efficiency, making them a popular choice for both residential and commercial uses. In residential settings, propane cylinders provide a reliable energy source for cooking and heating, especially in areas lacking natural gas infrastructure. Their ease of transport and storage also makes them ideal for outdoor activities and events, where a steady supply of energy is essential. In commercial applications, propane cylinders are widely used in industries such as hospitality and catering, where consistent and high-energy output is crucial. The adaptability of propane cylinders to different environments and their ability to deliver clean energy solutions contribute significantly to the overall growth of the LPG gas cylinder market.

Regionally, Asia Pacific is the largest market for LPG gas cylinders, driven by countries like China and India, where rapid industrialization and urbanization are prevalent. These regions have seen significant government initiatives aimed at promoting LPG as a primary energy source for cooking and heating, which has greatly increased market penetration. In contrast, regions like North America and Europe are experiencing moderate growth due to their mature markets but are also seeing an uptick in LPG adoption in rural and suburban areas where natural gas pipelines are not as extensive. Meanwhile, Latin America and the Middle East & Africa are emerging markets with substantial growth potential due to increasing energy demands and governmental support for clean energy solutions.

Product Type Analysis

The LPG gas cylinder market is segmented by product type into steel cylinders and composite cylinders, each offering distinct advantages and challenges. Steel cylinders have been the traditional choice for many years due to their durability and cost-effectiveness. They are known