According to a new market report published by Transparency Market Research (http://www.transparencymarketresearch.com) "Liquefied Petroleum Gas (LPG) Market (Refinery, Associated Gas and Non-Associated Gas) for Residential/Commercial, Chemical, Industrial, Auto Fuel, Refineries and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2012 - 2018", the global LPG market was valued at USD 210.07 billion in 2011 and is expected to reach USD 266.41 billion by 2018, growing at a CAGR of 4.0% over the forecast period from 2012 to 2018. In terms of volume, LPG demand was 252.50 million tons in 2011 and is expected to reach 327.19 million tons by 2018, growing at a CAGR of 3.8% over the forecast period from 2012 to 2018.
Owing to cost benefits offered by LPG over other conventional fuels such as gasoline and diesel, has resulted in enhanced demand for autogas vehicles, further leading to increase in LPG consumption on a global scale. Environmental benefits of LPG, such as low carbon emissions and cost and operational benefits, is expected to drive market demand over the forecast period. However, fluctuations in crude oil prices and downstream derivatives, coupled with high transportation costs is expected to hinder LPG market growth. Read more here.
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