Liquefied petroleum gas, also called LP gas or LPG, is any of numerous liquid blends of the volatile hydrocarbons’ propene, propane, butene, and butane. LPG has been utilised as a source of fuel for a long time, and its manufacture and demand for domestic and commercial usage have surged over the period.
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A standard industrial combination may also comprise ethane, ethylene, and a volatile mercaptan. LPG is delivered to domestic consumers in cylinders under comparatively less pressure. A large volume of LPG produced is employed in central heating systems and also as a raw material for chemical synthesis.
Globally, Russia is the top exporter of LNG, followed by the United States, Qatar, and Norway.
Key Details About the LPG Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the LPG price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The LPG Price Trend, chart, including India LPG price, USA LPG price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting LPG Price Trend:
LPQ is predominantly utilised as an energy source in pottery, roofing, ceramic tiles, and sanitary ware. It is also extensively used in several food processing systems as it has clean-burning properties. Moreover, since their products will not be subjected to pollution, LPG is a preferred energy alternative in bakeries and by biscuits, chips, and chocolate manufacturers. Besides, it is also utilised in applications concerning surface treatment like paint drying and galvanization. Furthermore, LPG is considered to be an appropriate fuel in the textile sector as it needs several energy-consuming processes.
Key Players:
- Gazprom PAO
- Royal Dutch Shell Plc
- Exxon Mobil Corporation
- Total SA
- BP Plc
News & Recent Development
- March 10, 2023: S-Oil Corp., an oil refining company based in South Korea, has introduced its large-scale Shaheen refinery-incorporated petrochemical plant. According to S-Oil Corp., with this newly constructed largest naphtha-fed steam cracker, the company will be able to manufacture around 3.2 million mt/year of basic petrochemical feedstocks, including ethylene, propylene, butadiene and benzene from naphtha and off-gas. The refinery will also include a “TC2C facility” that would convert crude directly into petrochemical feedstocks such as LPG and naphtha. TC2C facility is a polymer facility that manufactures high-value petrochemical feedstocks to produce plastics and other artificial resins.
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