GLOBAL PROPANE MARKET

INTRODUCTION

Three-carbon alkane propane (C3H8) is a gas. It is kept as an odourless, colourless liquid under pressure in a tank. The liquid propane evaporates and transforms into gas, which is utilised in combustion, when the pressure is released.As a result, it is correct to refer to LPG as propane as they are the same substance.

The liquid components collected during the processing of natural gas are used to make propane. Ethane, methane, propane, butane, and other heavier hydrocarbons are some of these components. Along with other gases, propane and butane are created during the refining of crude oil.

Its primary applications include home and water heating, food preparation and storage, clothing drying, and the powering of industrial and farm machinery. The production of plastics and other chemicals in the chemical sector also employs propane as a raw ingredient.

There are tanks for liquid propane and liquefied petroleum gas (LPG), as well as tanks for vapour propane. Properly recognising a propane tank will aid in preventing component failures brought on by the incorrect use of various fuel kinds. Liquid propane and vapour propane cannot be used interchangeably.

GLOBAL PROPANE MARKET SIZE AND FORECAST

The Global propane market accounted for $XX Billion in 2022 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2023 to 2030.

NEW PRODUCT LAUNCH

SHV Energy and GTI Energy announce new partnership to produce renewable propane. SHV Energy and GTI Energy, both located in the United States, have established a strategic cooperation to further develop a technique for commercial-scale, on-purpose manufacturing of renewable propane.

The method will use a revolutionary technique to produce renewable propane and butane (also known as bioLPG) from bioethanol, with the propane and butane serving as the major products, which is a substantial improvement over current commercial procedures. It has the potential to deliver significant quantities of this vital, clean-burning renewable fuel to the market.

The partnership with GTI Energy expands on the ground-breaking work SHV Energy has been doing over the past three years. SHV Energy created a route to a renewable propane production process in collaboration with Drochaid Research Services, a recognised contract research outfit with skills in catalyst design, synthesis, characterization, and testing.

The investigation discovered a workable process for converting ethanol into renewable propane that makes use of a variety of waste, bio-based, and recycled carbon feedstock that is widely accessible worldwide. The procedure also produces aromatic molecules, a crucial element in environmentally friendly aviation fuels, as a beneficial byproduct. 

The relationship with GTI Energy will be centred on scaling-up the catalytic process to be able to start a pilot plant and, ultimately, a first-of-its-kind, commercial renewable propane facility. The objective is to significantly contribute to an annual supply of more than five million tonnes of renewable LPG through a number of units. 

The programme leverages prior investments made by SHV Energy, such as the agreement with LanzaTech announced in March to use that company's Carbon Capture and Transformation (CCT) technology to sell renewable propane and other sustainable fuels through both established and uncharted routes.

COMPANY PROFILE

• Saudi Arabian Oil Co.
• Exxon Mobil Corporation
• Cnpc Bp
• Shell Plc
• Gazprom
• Chevron Corporation.

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

1. How many propane are manufactured per annum globally? Who are the sub-component suppliers in different regions?
2. Cost breakup of a Global propane and key vendor selection criteria
3. Where is the propane manufactured? What is the average margin per unit?
4. Market share of Global propane market manufacturers and their upcoming products
5. Cost advantage for OEMs who manufacture Global propane in-house
6. key predictions for next 5 years in Global propane market
7. Average B-2-B propane market price in all segments
8. Latest trends in propane market, by every market segment
9. The market size (both volume and value) of the propane market in 2023-2030 and every year in between?
10. Production breakup of propane market, by suppliers and their OEM relationship