Key Players in the MEA Liquid Petroleum Gas Market are audi Aramco, Exxon Mobil Corp, BP Global, National Iranian Oil Company, Royal Dutch Shell plc, Chevron Corporation
(PRWEB) April 07, 2015
LPG is an important fuel source, and its constituents (propane and butane) are considered as important raw materials used for the manufacture of chemicals. Chemical applications of LPG make up for the second-largest consumption of LPG on a global scale.
Browse through the TOC of MEA Liquid Petroleum Gas Market for an analysis of industry trends and segments, with the help of various tables and figures.
As Middle East and Africa have an increasing number of oil and gas wells, exploration activities in these regions are expected to increase at a rapid pace. This has become one of the sole reasons for refineries and associated sources of LPG dominating the Middle Eastern market. The use of LPG in the form of autogas is expected to remain stable in the Middle East region, owing to the availability of other cheaper substitutes.
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In contrast to this, the chemical manufacturing industry in this region is projected to drive the market demand for LPG, thereby increasing its consumption as petrochemical feedstock. With respect to all the above stated factors, Middle East and Africa is considered to be the largest supplier of LPG obtained by the refining of crude oil.
The Middle East and Africa Liquid Petroleum Gas market was valued at $39.87 billion in 2014, and is projected to reach $48.53 billion by 2019, at a CAGR of 4.0% during the forecast period. Most Middle East countries are net producers of crude oil. Government-owned oil and gas companies that have become major consumers of LPG include Saudi Armco, National Iranian Oil Company, and Qatar Oil.
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This market research report offers an overview of the regional LPG market in Middle East and Africa. It mainly focuses on offering regional data, pertaining to production and demand side analyses of LPG, along with a competitive evaluation of companies that are leading this market. The report highlights a variety of market parameters which help in determining the significant drivers of the Middle East and Africa LPG market.
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