Propane Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Global Propane Market is segmented by end-user industry (residential, commercial, transportation, industrial, and other end-user industries) and geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for the abovementioned segments in volume (kilotons).

Propane Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Propane Market Size

Propane Market Summary
Study Period 2019 - 2030
Market Volume (2025) 205.78 Million tons
Market Volume (2030) 254.36 Million tons
CAGR 4.33 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Propane Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Propane Market Analysis

The Propane Market size is estimated at 205.78 million tons in 2025, and is expected to reach 254.36 million tons by 2030, at a CAGR of 4.33% during the forecast period (2025-2030).

Owing to the COVID-19 pandemic, the demand for propane from end-user industries, including commercial, transportation, and other industry, declined drastically. However, the increased demand for liquefied petroleum gas (LPG) from the residential sector propelled propane consumption globally.

  • In the short term, factors such as the increasing demand from various end-user industries, such as industrial, construction, and petrochemical, are likely to drive market growth.
  • The harmful effects of propane at higher concentrations are expected to inhibit the market's growth.
  • Propane usage in power generation is expected to act as an opportunity for the market.
  • Asia-Pacific dominated the global propane market. The largest consumption was witnessed in China and India.

Propane Industry Overview

The global propane gas market is fragmented in nature, owing to the presence of a vast number of natural gas producers around the world. Major oil companies (not in any particular order), such as Gazprom, China Petroleum & Chemical Corporation, ExxonMobil, Saudi Arabian Oil Co. (Saudi Aramco), and Shell PLC, lead the market in terms of propane production, owing to their vast production outputs of natural gas at several facilities around the world.

Propane Market Leaders

  1. Exxon Mobil Corporation

  2. Gazprom

  3. Shell Plc

  4. Saudi Aramco

  5. China Petroleum & Chemical Corporation (Sinopec)

  6. *Disclaimer: Major Players sorted in no particular order
Propane Market Concentration
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Propane Market News

  • 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.

Propane Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Drivers
    • 4.1.1 Increase in Demand from the Residential and Transportation Sectors
    • 4.1.2 Demand in the Petrochemical Industry
  • 4.2 Restraints
    • 4.2.1 Harmful Effects of Propane at Higher Concentrations
    • 4.2.2 Other Restraints
  • 4.3 Industry Value Chain Analysis
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Buyers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products and Services
    • 4.4.5 Degree of Competition

5. MARKET SEGMENTATION (Market Size in Volume)

  • 5.1 End-user Industry
    • 5.1.1 Residential
    • 5.1.2 Commercial
    • 5.1.3 Transportation
    • 5.1.4 Industrial
    • 5.1.5 Other End-user Industries
  • 5.2 Geography
    • 5.2.1 Asia-Pacific
    • 5.2.1.1 China
    • 5.2.1.2 India
    • 5.2.1.3 Japan
    • 5.2.1.4 South Korea
    • 5.2.1.5 Rest of Asia-Pacific
    • 5.2.2 North America
    • 5.2.2.1 United States
    • 5.2.2.2 Canada
    • 5.2.2.3 Mexico
    • 5.2.3 Europe
    • 5.2.3.1 Germany
    • 5.2.3.2 UK
    • 5.2.3.3 Italy
    • 5.2.3.4 France
    • 5.2.3.5 Rest of Europe
    • 5.2.4 South America
    • 5.2.4.1 Brazil
    • 5.2.4.2 Argentina
    • 5.2.4.3 Rest of South America
    • 5.2.5 Middle-East and Africa
    • 5.2.5.1 Saudi Arabia
    • 5.2.5.2 South Africa
    • 5.2.5.3 Rest of Middle-East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Market Share **/Ranking Analysis
  • 6.3 Strategies Adopted by Leading Players
  • 6.4 Company Profiles
    • 6.4.1 Air Liquide
    • 6.4.2 BP PLC
    • 6.4.3 Chevron Corporation
    • 6.4.4 China Petroleum & Chemical Corporation (Sinopec)
    • 6.4.5 China National Petroleum Corporation (PetroChina)
    • 6.4.6 ConocoPhillips Company
    • 6.4.7 Eni SpA
    • 6.4.8 Exxon Mobil Corporation
    • 6.4.9 GAIL (India) Limited
    • 6.4.10 Gazprom
    • 6.4.11 Shell PLC
    • 6.4.12 Saudi Aramco
    • 6.4.13 Suburban Propane
    • 6.4.14 Total
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Usage of Propane in Power Generation
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Propane Industry Segmentation

Propane is a flammable hydrocarbon gas liquefied through pressurization and is commonly used as fuel for heating, cooking, hot water, and vehicles. The propane market is segmented by end-user industry and geography. By end-user industry, the market is segmented into residential, commercial, transportation, industrial, and other end-user industries. The report also covers the size and forecasts for the market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on volume (kiloton).

End-user Industry Residential
Commercial
Transportation
Industrial
Other End-user Industries
Geography Asia-Pacific China
India
Japan
South Korea
Rest of Asia-Pacific
North America United States
Canada
Mexico
Europe Germany
UK
Italy
France
Rest of Europe
South America Brazil
Argentina
Rest of South America
Middle-East and Africa Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Propane Market Research FAQs

How big is the Propane Market?

The Propane Market size is expected to reach 205.78 million tons in 2025 and grow at a CAGR of 4.33% to reach 254.36 million tons by 2030.

What is the current Propane Market size?

In 2025, the Propane Market size is expected to reach 205.78 million tons.

Who are the key players in Propane Market?

Exxon Mobil Corporation, Gazprom, Shell Plc, Saudi Aramco and China Petroleum & Chemical Corporation (Sinopec) are the major companies operating in the Propane Market.

Which is the fastest growing region in Propane Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Propane Market?

In 2025, the Asia-Pacific accounts for the largest market share in Propane Market.

What years does this Propane Market cover, and what was the market size in 2024?

In 2024, the Propane Market size was estimated at 196.87 million tons. The report covers the Propane Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Propane Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Propane Industry Report

Statistics for the 2025 Propane market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Propane analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.