LPG is an abbreviation for liquefied petroleum gas, a flammable hydrocarbon gas that is extensively used as fuel in heating appliances, culinary equipment, and vehicles.
It is a combination of propane and butane gases that are stored in liquid form in pressurised cylinders or tanks.
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It is a clean-burning fuel that emits fewer emissions than other fossil fuels, making it a popular home and business alternative. It is also portable and can be utilised in regions where natural gas pipelines do not exist.
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:
In industrial heating applications such as furnaces, ovens, kilns, and boilers, LPG is commonly employed. It can be utilised to generate electricity in CHP facilities as well as in backup generators for businesses and industries.
It is utilised in metal production, shipbuilding, and repair work, as well as welding and cutting activities. It is also used as a feedstock in the production of a variety of chemicals, including propylene, butadiene, and isobutene.
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It is used to dry crops, heat greenhouses, and power farm machinery. Other than that, it is also used in forklifts, buses, and other commercial vehicles.
Additionally, it is used as a refrigerant that can be utilised in commercial and industrial refrigeration systems. It is also employed in industrial cleaning products like solvent-based cleansers and degreasers.
- Gazprom PAO
- Royal Dutch Shell Plc
- Exxon Mobil Corporation
- Total SA
- BP Plc
News and Events:
- March 10, 2023: S-Oil Corp, a South Korean oil refining firm, has unveiled its large-scale Shaheen refinery-incorporated petrochemical complex. According to S-Oil Corp., the newly constructed largest naphtha-fed steam cracker will be capable of producing around 3.2 million mt/year of fundamental petrochemical feedstocks such as ethylene, propylene, butadiene, and benzene from naphtha and off-gas. The refinery will also have a “TC2C facility” that will convert crude directly into petrochemical feedstocks like LPG and naphtha. The TC2C polymer facility produces high-value petrochemical feedstocks for the production of plastics and other artificial resins.
Procurement Resource offers in-depth research on product pricing and market insights for more than 500 chemicals, commodities, and utilities updated daily, weekly, monthly, and annually. It is a cost-effective, one-stop solution for all your market research requirements, irrespective of which part of the value chain you represent.
We have a team of highly experienced analysts who perform comprehensive research to deliver our clients the newest and most up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which help in streamlining the procurement process for our clientele. Our team tracks the prices and production costs of a wide variety of goods and commodities, hence providing you with the latest and consistent data.
To get real-time facts and insights to help our customers, we work with a varied range of procurement teams across industries. At Procurement Resource, we support our clients, with up-to-date and pioneering practices in the industry, to understand procurement methods, supply chain, and industry trends, so that they can build strategies to achieve maximum growth.
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