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).

Why did the Liquified Petroleum Gas Price Change in July 2025? Liquefied Petroleum Gas (LPG) Price Index in China declined during Q2 2025, with Propane CFR Shanghai settling at USD 665/MT and Butane CFR Shanghai at USD 630/MT by early June.

Explore the multifaceted factors that influence Liquefied Petroleum Gas (LPG) prices, including crude oil market fluctuations, natural gas impacts, seasonal demand, global economic conditions, and regulatory changes, as analysts provide insights into future price trends in 2023.

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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.

Propane rose to 0.67 USD/Gal on August 8, 2025, up 0.76% from the previous day. Over the past month, Propane's price has fallen 9.70%, and is down 10.84% 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 August of 2025.

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.

Graph and download economic data for Producer Price Index by Commodity: Fuels and Related Products and Power: Natural Gas Liquids (WPU0532) from Jan 1971 to Jun 2025 about petroleum, fuels, gas, commodities, PPI, inflation, price index, indexes, price, and USA.

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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

Natural gas fell to 2.98 USD/MMBtu on August 11, 2025, down 0.47% from the previous day. Over the past month, Natural gas's price has fallen 14.14%, but it is still 35.95% 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 August of 2025.

For the fifth year in a row, the Scandinavia liquefied petroleum gas (LPG) market recorded growth in sales value, which increased by 0.5% to $2.2B in 2024. The total consumption indicated a temperate expansion from 2012 to 2024: its value increased at an average annual rate of +3.2% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption increased by +59.5% against 2019 indices.

LPG Cylinder Market Outlook

As of 2023, the global LPG cylinder market size was valued at approximately $7.5 billion. With a projected compound annual growth rate (CAGR) of 5.2% from 2024 to 2032, this market is anticipated to escalate to around $11.7 billion by 2032. The LPG cylinder market shows robust growth driven by increasing demand for clean and efficient energy sources across various sectors. The rise in urbanization and industrialization globally enhances the need for LPG cylinders as a reliable energy source, thus propelling market growth.

The growth of the LPG cylinder market is significantly influenced by the escalating demand for clean energy sources. As environmental concerns regarding fossil fuel emissions rise, governments and organizations worldwide are endorsing LPG as a cleaner alternative. This shift is particularly evident in emerging economies where LPG is increasingly replacing traditional fuels like coal and wood, which are associated with higher levels of pollution. The growing awareness among consumers regarding the environmental and health impacts of conventional fuels further propels the adoption of LPG. Additionally, the cost-effectiveness and higher calorific value of LPG compared to other fuels make it a preferred choice for both residential and commercial applications.

Technological advancements in cylinder manufacturing are another crucial factor contributing to market growth. Innovations in composite materials have led to the development of lightweight and durable LPG cylinders, enhancing safety and ease of transport. These modern cylinders are resistant to corrosion, significantly extending their lifespan and reducing maintenance costs. This technological evolution not only attracts new customers but also encourages existing users to upgrade their cylinders, boosting market demand. Furthermore, manufacturers are focusing on integrating smart technologies with LPG cylinders, such as IoT-enabled sensors for real-time monitoring of gas levels and leak detection, thereby improving the user experience and safety.

The economic growth in developing regions has also played a vital role in the expansion of the LPG cylinder market. As disposable incomes rise, there is an increased shift from traditional fuels to LPG for domestic cooking and heating applications. Governments in these regions are also providing subsidies and incentives to promote the adoption of LPG, thereby increasing its accessibility to the lower-income population. Urbanization trends lead to the establishment of new households, each requiring a reliable energy source, thus creating a substantial demand for LPG cylinders. Moreover, the commercial and industrial sectors in these regions are expanding, further driving the demand for LPG as a cost-effective and efficient energy source.

Regulators For Lpg Cylinders play a pivotal role in ensuring the safe and efficient use of LPG as a fuel source. These devices are critical in controlling the pressure of the gas as it moves from the cylinder to the appliance, maintaining a consistent flow that is both safe and effective for various applications. The demand for high-quality regulators is increasing as more consumers and industries adopt LPG for its environmental benefits. Advanced regulators are now being designed with safety features such as automatic shut-off mechanisms and pressure relief valves, which prevent accidents and enhance user confidence. These innovations are particularly important in regions where LPG is rapidly replacing more traditional fuels, ensuring that the transition is smooth and secure. The development and implementation of reliable regulators are essential to the continued growth and acceptance of LPG cylinders in both residential and commercial settings.

Regionally, the Asia Pacific dominates the LPG cylinder market, accounting for a significant share due to its large population and rapid urbanization. The demand in this region is primarily driven by countries like China and India, where government initiatives to promote LPG usage are abundant. North America and Europe also represent substantial market segments, with increasing adoption of LPG as an alternative to conventional energy sources. In contrast, the Middle East & Africa region exhibits a steady growth rate, with the availability of natural gas supporting the LPG market. Latin America presents a promising market with increasing urbanization and industrial activities further fueling the demand.

Product Type Analysis

The liquefied petroleum gas (LPG) market is experiencing robust growth, driven by increasing industrial and commercial demand, particularly in developing economies. Our analysis projects a market size of $250 billion in 2025, exhibiting a Compound Annual Growth Rate (CAGR) of 5% from 2025 to 2033. This growth is fueled by several key factors: rising urbanization and industrialization, which increase energy consumption across various sectors; the increasing adoption of LPG as a cleaner alternative to traditional fuels in cooking and heating, especially in regions with limited access to natural gas pipelines; and supportive government policies aimed at promoting LPG usage and reducing reliance on fossil fuels in some regions. Significant growth is expected in Asia-Pacific, driven by the expanding economies of India and China, as well as increasing demand from Southeast Asian nations. However, price volatility of crude oil, a primary feedstock for LPG production, poses a significant restraint. Furthermore, the development of alternative renewable energy sources presents a long-term challenge to LPG market growth. The competitive landscape is dominated by global energy majors such as BP, ExxonMobil, Shell, and national oil companies like ADNOC Group and Gazprom. These companies are actively investing in expanding LPG production capacity and distribution networks to meet the growing demand. The market is segmented by type (Natural Gas Liquids, Crude Oil), and application (Commercial, Agriculture, Industrial, Transport, Chemical). The projections indicate that the industrial and commercial sectors will continue to be the largest consumers of LPG, followed by the residential and transportation sectors. The regional breakdown shows significant potential across diverse geographies, with North America, Europe, and Asia-Pacific representing the most substantial market shares. The forecast period (2025-2033) anticipates continued growth, albeit with a moderated CAGR due to the anticipated leveling off of demand in mature markets and the emergence of competing technologies. Comprehensive Analysis of the Global Liquefied Petroleum Gas (LPG) Market: A 2024 Perspective This in-depth report provides a comprehensive overview of the global liquefied petroleum gas (LPG) market, offering crucial insights for businesses and investors seeking to navigate this dynamic sector. We delve into production trends, market segmentation, regional dominance, key players, and emerging opportunities. The report leverages extensive market research and data analysis to deliver actionable intelligence for informed decision-making. Keywords: LPG Market, Liquefied Petroleum Gas, Propane, Butane, Natural Gas Liquids, LPG Production, LPG Consumption, LPG Prices, Energy Market, Petrochemical Industry.

Why did the Natural Gas Price Change in July 2025? Natural Gas Price Index averaged USD 3696/1000 mmBtu, Ex-Louisiana, down 7% from Q1 2025, and featuring a mixed pattern of early weakness followed by a late-quarter recovery.

LPG Market Outlook

As per our latest research, the global LPG market size reached USD 146.9 billion in 2024, reflecting a robust and dynamic landscape. The market is experiencing a steady expansion, registering a CAGR of 5.2% from 2025 to 2033. By the end of 2033, the LPG market is forecasted to attain a value of USD 234.6 billion. This growth trajectory is primarily fueled by increasing demand for clean and efficient energy sources, ongoing urbanization, and the growing adoption of LPG in emerging economies as a viable alternative to conventional fuels. The market’s progression is further supported by favorable government policies promoting cleaner energy and the expansion of distribution networks, which are collectively driving the global LPG industry forward.

One of the primary growth factors propelling the LPG market is the global shift towards cleaner and more sustainable energy solutions. With mounting concerns about air pollution and greenhouse gas emissions, both governments and consumers are seeking alternatives to traditional fossil fuels. LPG, with its relatively lower carbon footprint and versatility, is increasingly being adopted in residential, commercial, and industrial sectors. The residential and commercial segments, in particular, are witnessing significant uptake due to LPG’s efficiency in cooking, heating, and hot water applications. Additionally, the chemical industry’s reliance on LPG as a feedstock for producing petrochemicals further amplifies demand. The growing awareness of environmental issues and supportive regulatory frameworks are expected to sustain the upward momentum of the LPG market in the coming years.

Technological advancements and infrastructure development are also playing a crucial role in the growth of the LPG market. Innovations in storage, transportation, and distribution have enhanced the safety and accessibility of LPG, enabling its penetration into remote and underserved regions. The expansion of LPG bottling plants and the proliferation of retail outlets have improved last-mile connectivity, making LPG more accessible to a broader consumer base. Furthermore, the automotive sector’s increasing adoption of autogas, driven by its cost-effectiveness and lower emissions compared to gasoline and diesel, is opening new avenues for market expansion. The integration of digital technologies in distribution channels is streamlining supply chain operations, improving service delivery, and fostering consumer loyalty, all of which contribute to the sustained growth of the LPG market.

Another significant driver for the LPG market is the supportive policy environment and government initiatives aimed at promoting energy security and reducing dependency on conventional fuels. Subsidy programs, particularly in developing economies, have made LPG more affordable for households, thereby accelerating its adoption. Countries in Asia, Africa, and Latin America are implementing rural electrification and clean cooking initiatives, where LPG plays a pivotal role. Moreover, the liberalization of LPG markets and the entry of private players have fostered competition, leading to improved service quality and competitive pricing. These factors, combined with rising disposable incomes and urban migration, are creating a favorable ecosystem for the LPG market to thrive globally.

From a regional perspective, Asia Pacific dominates the LPG market, accounting for the largest share in 2024, followed by Europe and North America. The rapid urbanization, expanding middle class, and government-led clean energy programs in countries such as China, India, and Indonesia are key contributors to the region’s dominance. Europe’s market is characterized by stringent environmental regulations and a well-established distribution infrastructure, while North America benefits from abundant natural gas resources and technological innovation. The Middle East & Africa and Latin America markets are also witnessing steady growth, driven by rising energy demand and infrastructure development. Each region presents unique opportunities and challenges, shaping the overall dynamics of the global LPG market.

In 2024, the annual average price of liquefied petroleum gas (LPG) in Thailand amounted to around **** Thai baht per liter, which was a slight increase compared to the previous year. The average price of LPG in the country has fluctuated over the observed period.

TTF Gas fell to 32.16 EUR/MWh on August 8, 2025, down 2.54% from the previous day. Over the past month, TTF Gas's price has fallen 6.24%, and is down 19.70% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. EU Natural Gas TTF - values, historical data, forecasts and news - updated on August of 2025.

The Ugandan liquefied petroleum gas (LPG) market contracted to $8.8M in 2024, which is down by -3.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $13M.

The Singaporean liquefied petroleum gas (LPG) market reached $672M in 2024, standing approx. at the previous year. In general, consumption recorded buoyant growth. Over the period under review, the market reached the peak level at $814M in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

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Liquefied Petroleum Gas Cylinder Market Size 2025-2029

The liquefied petroleum gas cylinder market size is forecast to increase by USD 722.5 million at a CAGR of 6.4% between 2024 and 2029.

The Liquefied Petroleum Gas (LPG) Cylinder Market is experiencing significant growth due to the increasing use of LPG in various applications, particularly in the industrial, commercial, and residential sectors. This trend is driven by the cleaner burning properties and versatility of LPG compared to traditional fuels. Furthermore, the adoption of composite LPG cylinders is gaining momentum due to their lightweight and durable nature, making them an attractive alternative to traditional steel cylinders. However, the market is not without challenges. The availability of alternate fuels, such as natural gas and renewable energy sources, is posing a threat to the market's growth.
To capitalize on the opportunities and navigate these challenges effectively, companies in the LPG cylinder industry should focus on innovation, cost competitiveness, and regulatory compliance. Additionally, strategic partnerships and collaborations can help companies expand their reach and enhance their product offerings. The LPG industry is also exploring alternative energy sources, such as hydrogen-based fuel cells and battery electric vehicles, to further reduce its carbon footprint. Overall, the LPG cylinder market presents a compelling growth opportunity for companies seeking to capitalize on the increasing demand for cleaner, more efficient energy solutions.

What will be the Size of the Liquefied Petroleum Gas Cylinder Market during the forecast period?

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The liquefied petroleum gas (LPG) cylinder market is experiencing significant trends and dynamics that impact its growth and outlook. LPG, which includes heating gas, propane gas, butane gas, and fuel gas, among others, is widely used for heating, cooking, and as a fuel in various industries. Price volatility is a key factor influencing market growth, as fluctuations in crude oil prices can impact LPG production costs. Safety remains a top priority in the LPG industry, with a focus on leak detection, safety training, and safety equipment. Technology advancements, such as remote monitoring, smart metering, and digitalization, are driving innovation and improving efficiency in LPG operations.
The market encompasses the production, distribution, and consumption of non-toxic, sulfur-free flammable hydrocarbon gases, including propane and butane, used as cleaner energy sources for various applications. This market caters to diverse sectors, such as rural residents, agriculture, transportation, recreation, cooking fuel, calefaction, and industrial processes. LPG cylinders have gained significant traction as an alternative to traditional fuels like kerosene, wood, coal, and car emission gases, due to their lower carbon emissions. LPG cylinders are widely used in domestic and commercial applications, including hot air balloons, portable fuel for outdoor activities, and pipe gas supply for industrial processes.
Regulations and safety concerns are also shaping the market, with a focus on cylinder manufacturing, design, testing, recycling, and disposal. Renewable energy sources, such as LPG biogas, are gaining traction as a more sustainable alternative to traditional LPG sources. LPG market growth is being driven by its versatility and environmental benefits, as it produces fewer greenhouse gas emissions compared to other fossil fuels. However, concerns over its carbon footprint and the need for fire suppression systems remain challenges for the industry. Overall, the LPG market is undergoing significant changes, driven by market dynamics, technological advancements, and regulatory requirements.
Understanding these trends and staying informed about industry developments is essential for businesses looking to capitalize on the opportunities presented by this dynamic market.

How is this Liquefied Petroleum Gas Cylinder Industry segmented?

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

Type

  Metal
  Composite


End-user

  Residential
  Commercial
  Industrial


Capacity

  5 to 15 kg
  Less than 5 kg


Product Type

  Manual valve cylinders
  Automatic valve cylinders


Geography

  North America

    US
    Canada


  Europe

    Germany
    Russia
    UK


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By Type Insights

The metal segment is estimated to witness significant growth during the forecast period. Liquefied Petroleum Gas (LPG) cylinders are essential containers designed to store and transport flammable hydrocarbon ga