Bio LPG Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

Bio LPG: Introduction

• Liquefied petroleum gas is a mixture of hydrocarbons, wherein the primary components are propane, butane, isobutene, and propene. It is produced from crude oil and natural gas. However, liquefied petroleum gas is a fossil fuel, which adversely affects the environment.

• Companies are developing a completely green LPG, which is not derived from blends of waste, residues, and sustainably sourced materials. Components of bio LPG are bio-propane, bio-butane, bio-propylene, and bio-butane, which are derived from wastes.

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Key Drivers and Restraints of Global Bio LPG Market

• Rise in industrialization and urbanization across the globe is expected to be a key driver of the global bio LPG market. Demand for energy has been increasing across the world since the last few years. Bio LPG can provide better and cheaper solution for energy. Thus, rise in industrialization and urbanization is expected to drive the global bio LPG market.
• Implementation of stringent rules and regulations to minimize carbon emission is another key driver of the global bio LPG market. Bio LPG can provide clean and cheaper fuel. Furthermore, it is derived from waste materials. Thus, it protects the environment.
• Increase in usage of sources of renewable energy such as solar, wind, and hydro is estimated to restrain the bio LPG market in the near future. Various companies are investing in renewable energy sources. This is projected to adversely affect the global Bio LPG market during the forecast period.

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Global Bio LPG Market: Segmentation

• The global bio LPG market can be segmented based on feedstock and end-user
• In terms of feedstock, the global bio LPG market can be classified into bio-oils, sugar compounds, cellulosic, organic materials, atmospheric carbon dioxide, and others. Demand for bio LPG in bio-oils and cellulosic is estimated to be high during the forecast period due to the ease of availability.
• Based on end-user, the global bio LPG market can be divided into residential, commercial, industrial, and utilities. The industrial segment is projected to lead the market due to rise in industrialization across the globe. This trend is likely to continue during the forecast period.

Global Bio LPG Market: Regional Segmentation

• Based on region, the global bio LPG market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
• Europe dominated the global bio LPG market in 2019. The market in the region is expected to expand during the forecast period. Implementation of stringent governmental rules and regulations to reduce carbon emission in Europe is anticipated to drive the bio LPG market in the region. Furthermore, demand for bio LPG is rising in the automobile sector in Europe.
• The market in North America is likely to expand significantly during the forecast period owing to rapid increase in infrastructure and industrialization in the U.S. and Canada
• The bio LPG market in Asia Pacific is projected to expand at a rapid pace during the forecast period owing to the enactment of  supportive government policies to promote the usage of bio LPG in the region
• The bio LPG market in Latin America and Middle East & Africa is anticipated to expand at a sluggish pace during the forecast period. Increase in investments in the production of bio-based energy in developing counties is expected to drive the bio LPG market in these regions in the near future.

Key Developments in Bio LPG Market

• In 2019, SHV Energy signed a contract with Circle K., the global service station chain. The contract would ensure that cylinder gases sold in the company’s 297 stores in Sweden are 100% bio LPG by the end of 2020.
• In April 2018, Calor Gas Ltd shipped its first shipment of bio LPG in the U.K. The company is expected to continue its supply of bio LPG for transport and logistics markets in the U.K.
• In September 2015, Neste inaugurated the world's first bio LPG facility in Rotterdam, the Netherlands. The investment in the plant stood at around US$ 65 Mn. The facility started production of bio LPG in December 2016.

Key Players Operating in Bio LPG Market

• Neste
• Calor Gas Ltd.
• SHV Energy
• AvantiGas

Global Bio LPG Market: Research Scope

Global Bio LPG Market, by Feedstock

• Bio-oils
• Sugar Compounds
• Cellulosic
• Organic Materials
• Atmospheric Carbon Dioxide
• Others

Global Bio LPG Market, by End-user

• Residential
• Commercial
• Industrial
• Utilities

The Global Bio LPG Market, by Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia & CIS
  • Rest of Europe
• Asia Pacific
  • China
  • South Korea
  • Japan
  • India
  • ASEAN
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

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2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.