“Liquefied petroleum gas is a flammable mixture of hydrocarbon gases, and has the great potential due to its residential/commercial, auto gas, industrial, and chemical applications. The increasing demand of LPG is due to the growing environment concern, promotion of its usage by government of Latin America and its energy efficiency.
In 2013, the LPG market in Latin America was valued at $23.8 billion and is expected to reach $29.9 billion by 2019, at a CAGR of 4.5% from 2014 to 2019. Mexico is currently the fastest-growing market followed by Brazil which is expected to increase, owing its applicability across the end-user applications like automobile. Venezuela and other Latin American countries equally contribute to its market size because LPG is an essential source of heating fuel used in residential applications.
The growth of LPG market in the Latin American countries is expected to be driven by residential/commercial and auto gas application of LPG, which together almost contributes more than half the usage of LPG. The chemical and industrial application segment of the LPG market are expected to grow at a relatively slower rate in comparison to residential/commercial and auto gas applications. The major source of LPG is refineries followed by associated gases and then by non-associated gases.
The report also provides a competitive landscape of major market players along with the market strategies adopted by the companies, such as developments, mergers & acquisitions, expansion & investments, agreements & contracts, new technological developments, and others. A number of these developments are spotted by key players that suggest the growth strategy of the companies as well as of the overall industry. Some of the key players operating in this market are Petrobras (Brazil), Yacimientos Petrolíferos Fiscales (Argentina), Eco Petrol (Colombia), Petroleos de Venezuela, S.A. (Venezuela), and others.
Scope of the Report
The report is segmented on the basis of its application, source, and country. The report also highlights the factors driving and restraining its growth as well as the challenges faced by the industry.
On the basis of Application
• Residential/Commercial
• Chemical
• Industrial
• Autogas
• Others
On the basis of Source
• Refineries
• Associated gases
• Non-Associated gases
On the basis of Country
• Mexico
• Brazil
• Venezuela
• Others
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