Propane rose to 0.70 USD/Gal on September 8, 2025, up 0.52% from the previous day. Over the past month, Propane's price has risen 3.51%, and is up 9.20% 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 September of 2025.

Graph and download economic data for Propane Prices: Mont Belvieu, Texas (WPROPANEMBTX) from 1992-07-03 to 2025-08-29 about mont belvieu, propane, commodities, and USA.

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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.

Major Market Trends & Insights

By End-user - Industrial segment was valued at USD 7.38 billion in 2022
By Grade Type - HD-5 propane segment accounted for the largest market revenue share in 2022

Market Size & Forecast

Market Opportunities: USD 64.96 billion
Market Future Opportunities: USD 8.42 billion 
CAGR : 6.6%

Market Summary

The Propane market in the US continues to evolve, driven by advancements in storage and transportation technologies. According to recent industry reports, propane consumption in the US reached an estimated 46.4 billion gallons in 2021, representing a significant increase from the previous year. This growth can be attributed to the sector's versatility, as propane is used extensively in various industries, including residential, commercial, and industrial applications. Compared to traditional fuels, propane offers several advantages, including higher energy density and lower emissions. However, the market faces competition from other alternative fuels, such as natural gas and renewable energy sources.
In response, propane producers are focusing on the development of renewable propane, which is derived from renewable feedstocks, to maintain market share. Despite these challenges, the propane market remains a crucial component of the US energy landscape. Its widespread availability and adaptability across various sectors make it a preferred choice for many businesses, ensuring its continued relevance in the energy market.

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

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The propane market in the US experiences consistent demand, with current usage accounting for approximately 11% of the total domestic energy consumption. Looking forward, market expansion is projected to reach over 2% annually, driven by increasing demand from various industries, including agriculture, construction, and commercial applications. Notably, propane's versatility and efficiency contribute to its growing popularity as a preferred energy source. In comparison, the consumption of propane in the US surpasses that of natural gas in certain sectors, such as agricultural drying and residential heating.
This trend underscores the significant role propane plays in the energy landscape. Moreover, the propane industry's ongoing advancements include the development of advanced metering systems, ensuring accurate and efficient billing, and the implementation of stringent quality control measures to maintain propane's purity. These innovations contribute to the industry's continued growth and evolution.

How is this US Propane Market segmented?

The propane in US 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

  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

  North America

    US

By End-user Insights

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

The propane market in the US experiences significant fluctuations due to various factors. Industrial sectors, particularly manufacturing and construction, contribute to the market's growth as they rely on propane for heating, processing, and other applications. Cold weather increases demand in industries such as agriculture, food processing, and construction, where propane is utilized for heating and drying purposes. Seasonal weather patterns positively impact short-term demand, with approximately 45% of propane consumption occurring during winter months. Propane competes with alternative energy sources like natural gas, electricity, and heating oil. Price fluctuations in these energy markets influence the demand for propane.

For instance, a 10% increase in natural gas prices can lead to a 1.5% increase in propane demand. Additionally, the propane supply chain includes various components, such as pipeline capacity, distribution networks, and storage capacity. These elements impact the market's dynamics, with a 20% increase in pipeline capacity leading to a 5% rise in propane availability for industrial applications. Propane is also used as an autogas fueling solution, with commercial fleets and transportation companies adopting it due to its cost-effectiveness and environmental benefits. The market for propane autogas is projected to grow by 25% over the next five years.

Propane's high e

View weekly updates and historical trends for US Residential Propane Price. from United States. Source: Energy Information Administration. Track economic …

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 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.

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

View market daily updates and historical trends for Mont Belvieu Propane Spot Price. Source: Energy Information Administration. Track economic data with Y…

View weekly updates and historical trends for Wisconsin Residential Propane Price. from United States. Source: Energy Information Administration. Track ec…

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.

View weekly updates and historical trends for US Wholesale Propane Price. from United States. Source: Energy Information Administration. Track economic da…

Access Market Research Intellect's Epoxy Propane Market Report for insights on a market worth USD 5.2 billion in 2024, expanding to USD 8.1 billion by 2033, driven by a CAGR of 6.5%.Learn about growth opportunities, disruptive technologies, and leading market participants.

United States - Propane Prices: Mont Belvieu, Texas was 0.71100 $ per Gallon in July of 2025, according to the United States Federal Reserve. Historically, United States - Propane Prices: Mont Belvieu, Texas reached a record high of 1.86200 in July of 2008 and a record low of 0.20900 in December of 1998. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Propane Prices: Mont Belvieu, Texas - last updated from the United States Federal Reserve on September of 2025.

View weekly updates and historical trends for Pennsylvania Residential Propane Price. from United States. Source: Energy Information Administration. Track…

The global Propane market size reached USD 81.40 Billion in 2021 and is expected to reach USD 122.64 Billion in 2030 registering a CAGR of 4.7%. Propane industry report classifies global market by share, trend, growth and based on form, grade, end-use, and region | Liquefied Petroleum Gas (LPG)

Gain a detailed industry overview of the Global Propane Market, worth USD 98.5 billion, highlighting growth trends, drivers, and future outlook.

The high-purity propane market is experiencing robust growth, with a market size of $87.94 billion in 2025 and a projected Compound Annual Growth Rate (CAGR) of 11.1% from 2025 to 2033. This expansion is driven by increasing demand across diverse sectors, primarily fueled by the pharmaceutical and refrigerant industries' need for ultra-pure propane in manufacturing processes. The rising adoption of sophisticated purification techniques and stringent regulatory standards regarding purity levels further contribute to market growth. Technological advancements leading to higher efficiency and cost-effectiveness in purification methods are also key drivers. While the market faces challenges such as price volatility of raw materials and stringent safety regulations, the long-term outlook remains positive due to its crucial role in various essential applications. The segmentation reveals a strong preference for higher purity grades (0.9999 and above) indicating a growing emphasis on precision and quality control across different applications. The geographical distribution showcases a strong presence in North America and Europe, but emerging markets in Asia-Pacific are poised for significant growth in the coming years owing to rising industrialization and infrastructure development. The competitive landscape is characterized by a mix of established players and emerging companies. Key players are focusing on strategic partnerships, capacity expansions, and product diversification to maintain their market position and capitalize on emerging opportunities. The market is witnessing increasing adoption of sustainable practices, reflecting a growing emphasis on environmental concerns. The ongoing research and development in advanced purification methods promise to further enhance the efficiency, sustainability, and affordability of high-purity propane, driving future growth within the forecast period. This expansion is expected to continue, solidifying the position of high-purity propane as a vital component in several key industries.

Access Market Research Intellect's Electronic Grade Propane(C3H8) Market Report for insights on a market worth USD 1.2 billion in 2024, expanding to USD 2.5 billion by 2033, driven by a CAGR of 9.2%.Learn about growth opportunities, disruptive technologies, and leading market participants.

The U.S. Propane market report offers a thorough competitive analysis, mapping key players’ strategies, market share, and business models. It provides insights into competitor dynamics, helping companies align their strategies with the current market landscape and future trends.

The global portable propane gas cylinders market is projected to reach a valuation of approximately USD 4.5 billion by 2033, growing at a compound annual growth rate (CAGR) of 5.2% from 2025 to 2033.