Propane Market - Forecast (2023 - 2028)

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Propane MarketMarket size, Industry outlook,
Market Forecast, Demand Analysis, Market Share,
Market Report 2021-2026
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• Propane market size is forecast to reach US90.3
  billion by 2027, after growing at a CAGR of
  4.3 during 2022-2027. The use of propane for
  various industrial processes, large-scale
  applications such as water heaters, and
  commercial-grade propane-fuelled furnaces, which
  are utilized in the warehouse, hospitals, and
  manufacturing facilities, is driving the growth
  of the propane market. Metal processing
  industries are also dedicated consumers of
  propane to fuel their soldering, vulcanizing
  equipment, and cutting torches, which is
  anticipated to propel the propane market growth. 

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• Key Takeaways
• Rapidly rising demand for propane in the
  transportation industry to be used as fuel in
  internal combustion engines, has driven the
  growth of the propane market.
• The increasing demand for propane in agriculture
  sector, due to its usage in the irrigation pumps,
  dryers, and any agricultural equipment, has been
  a critical factor driving the growth of the
  propane market in the upcoming years.
• However, the depleting levels of non-renewable
  natural resources can hinder the growth of the
  propane market.

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By Distribution Channel- Segment Analysis The
HD-5 propane segment held the largest share in
the propane market in 2021. HD-5 grade propane is
known as consumer-grade propane. It is the
highest-grade propane available as compared
to HD-10 propane, commercial propane, and others.
HD-5 means that the propane is suitable to be
utilized as an engine fuel. HD-5 specification
propane consists of a minimum of 90 propane, a
maximum of 5 propylene, and other remainder
gases such as isobutane, butane, methane, and
others. The highest quality propane means that
the propane holds to the specification needs to
sell and label as HD-5 propane. Thus, with the
growth of the HD-5 propane segment, the market
for propane will further rise over the forecast
period. 
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• Indian Oil Corporation Ltd

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• Propane Market Outlook 
•  DDC Plc
• AmeriGas Propane Inc
• Ferrellgas
• Gazprom
• Air Liquide
• GAIL (India) Limited
• Indian Oil corporation Ltd

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Propane Market Forecast
(2023 - 2028) Learn More About the Report _at_
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et-Research-509338
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