Graph and download economic data for Propane Prices: Mont Belvieu, Texas (WPROPANEMBTX) from 1992-07-03 to 2025-03-21 about mont belvieu, propane, commodities, and USA.

According to Cognitive Market Research, the global Propane market size will be USD 8742 million in 2025. It will expand at a compound annual growth rate (CAGR) of 4.20% from 2025 to 2033.

North America held the market share of around 30% of the global revenue with a market size of USD 2447.76 million in 2025 and will grow at a compound annual growth rate (CAGR) of 2.5% from 2025 to 2033.
Europe accounted for a market share of 25% of the global revenue with a market size of USD 2141.79 million.
APAC held a major market share of 36% of the global revenue with a market size of USD 3147.12 million in 2025 and will grow at a compound annual growth rate (CAGR) of 5.6% from 2025 to 2033.
South America has a market share of 4% of the global revenue with a market size of USD 332.20 million in 2025 and will grow at a compound annual growth rate (CAGR) of 4.9% from 2025 to 2033.
Middle East had a market share of 4% of the global revenue and was estimated at a market size of USD 349.68 million in 2025 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2025 to 2033.
Africa had a market share of 3.70% of the global revenue and was estimated at a market size of USD 323.45 million in 2025 and will grow at a compound annual growth rate (CAGR) of 3.8% from 2025 to 2033.
Gas category is the fastest growing Form segment of the Propane industry

Market Dynamics of Propane Market

Key Drivers for Propane Market

Increasing demand for clean energy alternatives to reduce greenhouse gas emissions drives market growth

As environmental concerns over climate change intensify, there is an increasing shift toward clean energy solutions, and propane is seen as an efficient, low-emission alternative to traditional fossil fuels. Propane produces significantly fewer greenhouse gases compared to coal, gasoline, and diesel. As per the International Energy Agency (IEA), the global renewable electricity generation is forecast to climb over 17,000 TWh by the end of the decade, a 90% increase from 2023. Renewables are projected to surpass coal in 2025, and solar PV is expected to become the largest renewable power source globally by 2029, outstripping hydropower. Governments and industries are investing in clean technologies, and propane, being a cleaner-burning fossil fuel, stands out as a suitable option for industries looking to reduce their carbon footprint. This rising demand for cleaner energy fuels the market’s growth by driving investments in propane production, infrastructure, and adoption across various sectors.

https://www.iea.org/energy-system/renewables

Growing use of propane in transportation as a cleaner fuel option

Propane is increasingly being adopted as an alternative fuel in the transportation sector, particularly in fleet operations. It is a cleaner-burning fuel compared to gasoline and diesel, with lower emissions of carbon monoxide, nitrogen oxides, and particulate matter. As per the IEA, in 2021, renewables accounted for 3.9% of total transport energy consumption, with the bulk of this being biofuels (3.5%) and the rest renewable electricity (0.4%) Additionally, propane-powered vehicles benefit from lower fuel costs, making it an attractive option for public transportation, delivery fleets, and other commercial vehicle sectors. The rise of government incentives and environmental policies promoting alternative fuels supports the adoption of propane in transportation, which accelerates its market penetration.

https://www.ren21.net/gsr-2024/modules/energy_demand/03_renewables_in_transport/

Restraint Factor for the Propane Market

Volatility in propane prices due to dependency on oil and natural gas markets hinders market growth

Propane prices are highly influenced by fluctuations in the global oil and natural gas markets, making the market susceptible to price volatility. The interconnectedness with crude oil prices, geopolitical tensions, and natural gas supply disruptions can cause sharp price swings, affecting both consumers and suppliers. This volatility makes propane less predictable as a fuel source for industries and households, potentially limiting its widespread adoption. The uncertainty in pricing could also deter investments in propane infrastructure and technology, slowing overall market growth.

Market Trends in Propane Market

Increasing adoption of propane-powered vehicles for fleet operations

Propane-powered vehicles are becoming more ...

​The United States propane market size is projected to exhibit a growth rate (CAGR) of 2.39% during 2025-2033. The growing focus of various industries to lower their carbon footprint and minimize greenhouse gas emissions, rising energy demand in commercial and residential areas, and increasing demand for cleaner-burning fuels in various sectors represent some of the key factors driving the market.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Growth Rate 2025-2033	2.39%

IMARC Group provides an analysis of the key trends in each segment of the United States propane market report, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on form, grade, and end use industry.

The GCC propane market size is projected to exhibit a growth rate (CAGR) of 4.53% during 2025-2033. The growing demand for reliable backup power during electricity disruptions, increasing focus on maintaining sustainability and reducing environmental impact, and rising need to reduce dependency on foreign energy sources and enhance energy security represent some of the key factors driving the market.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Growth Rate 2025-2033	4.53%

IMARC Group provides an analysis of the key trends in each segment of the GCC propane market report, along with forecasts at the regional and country levels for 2025-2033. Our report has categorized the market based on form, grade, and end use industry.

Propane dehydrogenation (PDH) is a process that converts propane gas into propylene, which is a valuable chemical used in the production of a wide range of products such as plastics, synthetic fibers, and resins. In 2021, the packaging industry accounted for the largest share of the propane dehydrogenation (PDH) to propylene market, with a global market value of 2.83 billion U.S. dollars. It is projected that the market value for this segment will increase to 6.35 billion U.S. dollars by 2031.

Explore the Propane Global Market Report 2025 Market trends! Covers key players, growth rate 6.9% CAGR, market size $125.3 Billion, and forecasts to 2033. Get insights now!

UK Gas decreased 26.27 GBp/Thm or 20.95% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. UK Natural Gas - values, historical data, forecasts and news - updated on March of 2025.

Market Overview:

Vietnam propane market size is projected to exhibit a growth rate (CAGR) of 4.23% during 2024-2032. The growing emphasis on sustainable and efficient farming practices, rising use as an alternative fuel in the transportation sector, and the escalating demand for propane in the hospitality and food service industries represent some of the key factors driving the market.

Report Attribute	Key Statistics
Base Year	2023
Forecast Years	2024-2032
Historical Years	2018-2023
Market Growth Rate (2024-2032)	4.23%

Propane is a colorless, odorless hydrocarbon gas that belongs to the alkane family. It has a high energy density, making it an efficient and versatile fuel source. It produces fewer emissions, such as carbon dioxide and particulate matter, as compared to other fossil fuels. It is highly versatile and can be used for various applications, ranging from heating and cooking to powering vehicles and industrial processes. It is a reliable energy source, as it can be stored for an extended period without degradation, ensuring a consistent fuel supply. It is widely used for home heating systems, including furnaces, water heaters, and fireplaces, providing efficient and cost-effective warmth. Besides this, it is utilized as an alternative fuel for vehicles, such as propane autogas, which offers reduced emissions and cost savings for fleets. Moreover, it is employed in agriculture for crop drying, pest control, and as a fuel source for farm equipment.

Vietnam Propane Market Trends:

The growing emphasis on sustainable and efficient farming practices represents one of the primary factors propelling the market growth. Along with this, the rising use of propane as an alternative fuel in the transportation sector of Vietnam is strengthening the growth of the market. Apart from this, the growing environmental concerns, including air quality and emissions reduction, are driving the adoption of propane. Its clean-burning characteristics make it a preferred choice in regions with high pollution. Furthermore, continuous investments in propane infrastructure, including storage facilities and distribution networks, are expanding, making propane more accessible across the country. Improved infrastructure facilitates the distribution and availability of propane for various applications. Moreover, governing authorities in Vietnam are actively promoting the use of propane and other clean energy sources through incentives, subsidies, and policies that encourage their adoption. Stringent environmental regulations and emissions standards in Vietnam are pushing industries and businesses to adopt cleaner fuel options like propane. Along with this, ongoing research and development (R&D) efforts are leading to the introduction of more energy-efficient and environment-friendly propane-based technologies. Apart from this, several households and businesses are continuously investing in propane-powered generators and appliances for backup power. In addition, the widespread adoption of propane-powered vehicles, including taxis and commercial fleets, due to the cost-effectiveness and reduced environmental impact of propane autogas is bolstering the market growth. Moreover, the expansion of the tourism sector in Vietnam is catalyzing the demand for propane in the hospitality and food service industries. Propane is a preferred choice for cooking and heating in resorts, hotels, and restaurants, catering to both domestic and international tourists.

Vietnam Propane Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on form, grade, and end use industry.

Form Insights:

https://www.imarcgroup.com/CKEditor/4fc9a884-fbd6-4c0c-823f-a36d3b55aea8other-regions1.webp" style="height:450px; width:800px" />

• Liquid
• Gas
  

The report has provided a detailed breakup and analysis of the market based on the form. This includes liquid and gas.

Grade Insights:

• HD-5 Propane
• HD-10 Propane
• Commercial Propane
  

A detailed breakup and analysis of the market based on the grade have also been provided in the report. This includes HD-5 propane, HD-10 propane, and commercial propane.

End Use Industry Insights:

• Residential
• Commercial
• Transportation
• Others
  

The report has provided a detailed breakup and analysis of the market based on the end use Industry. This includes residential, commercial, transportation, and others.

Regional Insights:

https://www.imarcgroup.com/CKEditor/16f3d57f-256d-45c6-a312-478e5db42814other-regions6.webp" style="height:450px; width:800px" />

• Northern Vietnam
• Central Vietnam
• Southern Vietnam
  

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Vietnam Propane Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Million
Scope of the Report	Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: Form Grade End Use Industry Region
Forms Covered	Liquid, Gas
Grades Covered	HD-5 Propane, HD-10 Propane, Commercial Propane
End Use Industries Covered	Residential, Commercial, Transportation, Others
Regions Covered	Northern Vietnam, Central Vietnam, Southern Vietnam
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

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The average monthly price for natural gas in the United States amounted to 3.02 nominal U.S. dollars per million British thermal units (Btu) in December 2024. By contrast, natural gas prices in Europe were about four times higher than those in the U.S. Prices for Europe tend to be notably higher than those in the U.S. as the latter benefits from being a major hydrocarbon producer. Europe's import reliance European prices for natural gas rose most notable throughout the second half of 2021 and much of 2022, peaking at over 70 U.S. dollars per million Btu in August 2022. The sharp rise was due to supply chain issues and economic strain following the COVID-19 pandemic, which was further exacerbated by Russia’s invasion of Ukraine in early 2022. As a result of the war, many countries began looking for alternative sources, and Russian pipeline gas imports to the European Union declined as a result. Meanwhile, LNG was a great beneficiary, with LNG demand in Europe rising by more than 60 percent between 2021 and 2023. How domestic natural gas production shapes prices As intimated, the United States’ position among the leaders of worldwide natural gas production is one of the main reasons for why prices for this commodity are so low across the country. In 2023, the U.S. produced more than one trillion cubic meters of natural gas, which allays domestic demand and allows for far lower purchasing prices.

In 2024, the Canadian liquefied petroleum gas (LPG) market decreased by -18.7% to $829M, falling for the second consecutive year after two years of growth. Over the period under review, consumption recorded a pronounced reduction. Liquefied petroleum gas (LPG) consumption peaked at $1.3B in 2012; however, from 2013 to 2024, consumption stood at a somewhat lower figure.

Saudi Aramco and Sonatrach have cut January LPG prices due to weak demand, affecting supply chains from the Middle East to Asia-Pacific and Mediterranean regions.

Propan steg med 0,15 USD/GAL eller 19,11% siden begyndelsen af 2025 ifølge handel med en kontrakt for forskel (CFD), der følger benchmark-markedet for denne råvare. Aktuelle værdier, historiske data, prognoser, statistik, diagrammer og økonomisk kalender - Propan - Futures Kontrakt - Priser.

The global fuel energy price index stood at 188.62 index points in January 2025, up from 100 in the base year 2016. Figures increased that month due to a rise in crude oil prices as a result of new sanctions on Russian oil and greater heating fuel demand. The fuel energy index includes prices for crude oil, natural gas, coal, and propane. Supply constraints across multiple commodities The global natural gas price index surged nearly 11-fold, and the global coal price index rose almost seven-fold from summer 2020 to summer 2022. This notable escalation was largely attributed to the Russia-Ukraine war, exerting increased pressure on the global supply chain. Global ramifications of the Russia-Ukraine war The invasion of Ukraine by Russia played a role in the surge of global inflation rates. Notably, Argentina bore the brunt, experiencing a hyperinflation rate of 92 percent in 2022. The war also exerted a significant impact on global gross domestic product (GDP) growth. Saudi Arabia emerged with a notable increase of nearly three percent, as several Western nations shifted their exports from Russia to Middle Eastern countries due to the sanctions imposed on the former.

United States - Producer Price Index by Industry: Natural Gas Liquids Extraction: Propane was 210.43900 Index Jun 1984=100 in January of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Natural Gas Liquids Extraction: Propane reached a record high of 556.50000 in July of 2008 and a record low of 43.00000 in November of 1988. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Natural Gas Liquids Extraction: Propane - last updated from the United States Federal Reserve on March of 2025.

The global natural gas market is experiencing robust growth, driven by increasing energy demand, particularly in developing economies, and the transition towards cleaner energy sources compared to coal. While precise figures for market size and CAGR were not provided, a reasonable estimation, based on industry reports and observed trends, suggests a 2025 market size of approximately $500 billion USD. Assuming a conservative Compound Annual Growth Rate (CAGR) of 3%, projected growth indicates a market value exceeding $650 billion by 2033. Key drivers include rising industrialization, expanding power generation sectors relying on natural gas, and growing adoption in transportation fuels (e.g., compressed natural gas vehicles). Significant trends involve the increased utilization of liquefied natural gas (LNG) for international trade, the development of innovative technologies for enhanced gas recovery and methane emission reduction, and the integration of natural gas into smart grids for enhanced energy management. However, restraining factors include price volatility due to geopolitical events and supply chain disruptions, as well as environmental concerns related to methane leakage and greenhouse gas emissions. The market is segmented by type (methane, ethane, propane, others) and application (power generation, industrial fuel, household fuel, automotive fuel, chemical industry), with regional variations reflecting different levels of industrialization and energy policies. North America, Europe, and Asia-Pacific are expected to dominate the market, accounting for a significant portion of the global consumption and production. The competitive landscape is populated by a mix of international and national companies spanning the value chain – from exploration and production to processing, transportation, and distribution. Companies like BG Group plc, Apache Corporation, Cheniere Energy, and others are actively involved in expanding production capacity, investing in infrastructure projects, and securing long-term supply contracts. Strategic partnerships and mergers & acquisitions are anticipated to shape the industry further, leading to increased consolidation and efficiency. Growth opportunities lie in leveraging innovative technologies to optimize gas extraction, reduce environmental footprint, and meet the rising global demand while navigating the challenges of geopolitical instability and fluctuating energy prices. This in-depth report provides a comprehensive analysis of the global natural gas market, encompassing production, consumption, pricing, and future growth projections. We delve into key segments, regional variations, and influential market players, offering invaluable insights for stakeholders across the natural gas value chain. Keywords: Natural Gas Market, Natural Gas Production, LNG, CNG, Natural Gas Prices, Methane, Ethane, Propane, Power Generation, Industrial Fuel, Global Energy Market.

Discover how Saudi Aramco and Sonatrach are adjusting March LPG prices amid global market shifts and declining demand.

Suburban Propane Partners stock price, live market quote, shares value, historical data, intraday chart, earnings per share and news.

The average price of propylene amounted to some 865 U.S. dollars per metric ton in 2023, down from 865 dollars per metric ton one year earlier. Production and uses of propylene Propylene, also known as propene, ranks as the second most-consumed primary petrochemical worldwide, only after ethylene. In 2022, propylene accounted for 22 percent of the global primary petrochemical consumption. Most of the propylene produced is used to manufacture polypropylene, one of the most common thermoplastic materials used today. The petrochemical compound is also used extensively as a building block to produce diverse chemicals such as isopropyl alcohol, propylene oxide, acrylonitrile, and acrylic acid. In 2020, the global production capacity of propylene stood at 133 million metric tons. Polypropylene market The market volume of polypropylene is forecast to follow an increasing trend during the next years, reaching approximately 100 million metric tons by 2029. Similarly, the market value of the compound is expected to increase by more than 30 percent in 2029 in comparison with 2021. Similarly to the development of the price of propylene during the last year, the average price of polypropylene in 2023 showed a small decrease in comparison with 2022.

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.

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Smart Wireless Propane Tank Meter Market Size 2024-2028

The smart wireless propane tank meter market size is forecast to increase by USD 13.72 thousand at a CAGR of 4.52% between 2024 and 2028. The market is experiencing significant growth, driven by the increasing operational efficiency brought about by the emergence of smart wireless propane tank meters. This trend is further fueled by the widespread adoption of IoT and smart home technologies, enabling real-time monitoring and automated refill orders. Subscription-based propane tank monitoring services are also gaining popularity, offering convenience and cost savings for consumers. These factors are expected to continue driving market growth in the coming years. The market is poised for substantial expansion as more households and businesses adopt these advanced technologies to optimize energy usage and enhance overall home comfort and safety.

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The Smart Wireless Propane Tank Market is witnessing significant growth due to the increasing demand for operational efficiency and convenience in various sectors. Propane, as a fuel source, is widely used in heating applications and cooking in both residential and commercial sectors. Traditional methods of manually inspecting and estimating propane levels in tanks can be time-consuming and prone to errors. Smart wireless propane tanks offer reliable data on propane levels through real-time monitoring, ensuring efficient fuel usage and preventing runouts. These systems are increasingly being integrated with Smart Home Systems and Data analytics for added convenience and safety. The Commercial and Industrial sectors, in particular, are adopting these systems to optimize fuel usage and reduce costs.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD thousand' for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

Distribution Channel

  Offline
  Online


End-user

  Residential
  Commercial


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China
    Japan


  Middle East and Africa



  South America

By Distribution Channel Insights

The offline segment is estimated to witness significant growth during the forecast period. The smart wireless propane tank market caters to both residential and commercial sectors, with propane serving as a preferred fuel source for heating applications and cooking. Smart home technologies have revolutionized the way propane tank levels are monitored, enabling convenience, safety, and reliability. Smart wireless propane tank meters facilitate real-time data analytics through integration with Wifi connectivity and cellular digital connectivity. This data is crucial for industry influencers, enabling them to make informed decisions and enhance safety through timely interventions. Technavio offers comprehensive data on market trends, competition, promotions, and industry insights. The synthesis and summation of data from multiple sources provide a clear understanding of the market landscape.

In the residential sector, smart home systems offer convenience and safety, replacing manual inspections with reliable data. Commercial and industrial applications benefit from the same, with the added advantage of monitoring multiple tanks and enhancing profitability. These solutions enable accurate and timely propane level monitoring, reducing uncertainty and ensuring optimal operational efficiency. The integration of these systems into existing infrastructure offers significant benefits, making them a worthwhile investment for both residential and commercial customers.

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The offline segment was valued at USD 35.08 billion in 2018 and showed a gradual increase during the forecast period.

Regional Insights

North America is estimated to contribute 30% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights on the market share of various regions Request Free Sample

The market is experiencing significant growth due to the increasing adoption of wireless propane tanks in both the residential and commercial sectors. Propane, as a versatile fuel source, is widely used for heating applications and cooking in various industries. Smart home technologies have revolutionized the way propane levels are monitored, providing operational efficiency and convenience. Technavio offers comprehensive data synthesis from multiple sources, enabling reliable data and safety enhancements for propane tank utility. In the residential sector, smart home systems integrate data analytics and real-time monit