San Francisco, CA (PRWEB) May 29, 2014
The global market for LPG is expected to reach USD291.42 billion by 2020, according to a new study by Grand View Research, Inc. Increasing population coupled with favorable regulatory support and subsidies are expected to be key driving factors for the market over the next six years. Limited application base is expected to be a challenge for industry participants.
Residential/commercial uses emerged as leading application markets and accounted for 47.3% of total market volume in 2013, followed by chemical usage and accounted for 24.5% of total volume for the same year. LPG demand for autofuel applications is expected to reach 29.11 million tons by 2020, growing at a CAGR of 4.3% from 2014 to 2020.
The report “LPG Market Analysis By Application (Residential/Commercial, Chemical, Industrial, Auto Fuel, Refinery), By Source (Refinery, Associated Gas, Nonassociated Gas) And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/liquefied-petroleum-gas-industry.
Request free sample of this report at http://www.grandviewresearch.com/industry-analysis/liquefied-petroleum-gas-industry/request.
Further key findings from the study suggest:
Browse all Conventional Energy Market Reports Published By Grand View Research at http://www.grandviewresearch.com/industry/conventional-energy.
For the purpose of this study, Grand View Research has segmented the SBC market on the basis of application, source and region:
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The global market for thermoplastic polyolefins (TPO) is expected to reach USD 3.43 billion by 2020, according to a new study by Grand View Research, Inc. Increasing application scope in automotive and construction sectors of the emerging markets in Asia, especially China and India is expected to be a key growth factor for TPO.
About Grand View Research
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