London, Oct. 17, 2022 (GLOBE NEWSWIRE) -- Exponential increase in global energy demand, and growing dependence on conventional liquified petroleum gas (LPG) predominantly drive the growth of global bio LPG market. Fairfield Market Research in its newly released report analyses and forecasts the growth of global bio LPG market during 2021 – 2025. The report anticipates the market to leapfrog from US$153.7 Mn in 2019 to US$1,020.3 Mn by 2025 end. Conventional LPG is fondly known as cooking gas remains an indispensable part of both the households, and F&B industry. The evolving community expectations, and environmental scenario however have created tailwinds for bio LPG. The severing carbon emission concerns worldwide have been pushing the prospects of alternative energy generation routes. With energy recovery from waste gaining traction at a faster pace, bio LPG is likely to spread its roots faster. While bio LPG market is in its nascent stage and represents a multimillion dollar industry, the report anticipates immense potential in bio LPG.
Get the Free Sample Copy of Report at: https://www.fairfieldmarketresearch.com/report/bio-lpg-market/request-sample
Key Research Insights
- The global bio LPG market is expected to experience a whopping 47% growth between 2021 and 2025
- Bio LPG market value will cross the billion-dollar mark in 2025
- Over 90% of bio-LPG is produced and marketed in Europe alone
Insights into Segmental Analysis
The report indicates that the bio-oil will continue to surge ahead of all other feedstock segments and currently accounts for a majority share in the global bio LPG market value. However, the report points to a strong chance of the low LPG yield of bio-oil will emerge as a significant challenge in long-term growth of the market. While research highlights the fact that the most bio LPG today is recovered as a biodiesel plant’s by-product, the other feedstock segments covered under the study include sugar, wet waste, cellulosic organic waste, and glycerine. The report further states that the processing of cellulosic organic waste potentially delivers a relatively high bio LPG yield, which may place this segment as an opportunistic one in the long run. Growing R&D and investments in pilot and demonstration projects around the same for a decent amount of bio LPG recovery further establish a strong ground for these estimations presented in the report.
Key Report Highlights
- Europe remains the indomitable global leader in bio LPG space
- Cellulosic organic waste is likely to gain stronger traction as a potentially high-yielding feedstock for bio LPG recovery
Insights into Regional Analysis
Research suggests that more than 90% of the world’s bio LPG production, and marketing takes place in Europe alone. The report forecasts continued dominance of Europe throughout the forecast period and will remain the most profitable one, followed by North America. In terms of both value and volume, Europe accounts for over 90% market share on the back of strong presence of some of the prominent bio LPG producers, including ENI, Neste Oil, Total SE, Global Bioenergies, and PREEM Group. The European continent has been highly ambitious about slashing the carbon emissions that has formed a favourable environment for the serious enforcement of decarbonization. This will remain a robust undercurrent fuelling the adoption of biofuels like bio LPG across Europe. The growing role of governments, and the various awareness activities that promote conscious use of fuels are likely to further push the prospects of bio LPG market in the next few years. Several companies across Europe have been focusing on successful pilot project demonstrations with an intention to raise substantial funds. This is expected to uphold the bio LPG market growth in Europe. The market here will continue to leverage the favourable climate and energy policy that eyes reduced reliance on conventional fossil fuels, which pushes the significance of bio LPG across industrial sector as well. North America, led by the US, will follow with a considerably high number of small and large-scale concepted or demonstration projects regarding bio LPG recovery from a range of feedstocks.
Key Players in Global Bio LPG Market
Neste Oil, Total SE, ENI, SHV Energy, Preem AB, Renewable Energy Group, AvantiGas, Irving Oil, Global Bioenergies, and Diamond Green Diesel are some of the prominent players steering the competition landscape of global bio LPG market.
Do You Have Any Query or Specific Requirement? Request for Custom Research: https://www.fairfieldmarketresearch.com/report/bio-lpg-market/request-customization
REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2020 | |
| Forecast Year | 2021 – 2025 | |
| Market Size in 2019 | US$153.71 Mn | |
| Estimated Market Size in 2025 | US$1,020.32 Mn | |
| CAGR | 47.0 | % |
| Key Players | Neste Oil, Total SE, ENI, SHV Energy, Preem AB, Renewable Energy Group, AvantiGas, Irving Oil, Global Bioenergies, Diamond Green Diesel | |
Market Segmentation
Feedstock Coverage
- Bio-oil
- Cellulosic Organic waste
- Others (Sugar, Glycerine, Wet Waste, etc.)
End-user Coverage
- Residential
- Chemical & Petrochemical
- Industrial & Others
Geographical Coverage
- North America
- Europe
- Latin America
- Middle East & Africa
Leading Companies
- Neste Oil
- Total SE
- ENI
- Preem AB
- SHV Energy
- Diamond Green Diesel
- Renewable Energy Group
- Global Bioenergies
- AvantiGas
- Irving Oil
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Technology-wise Analysis
- Application-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
Contact
Fairfield Market Research
London, UK
UK +44 (0)20 30025888
USA (Toll-free) +1 (844) 3829746
Web: https://www.fairfieldmarketresearch.com/
Email: sales@fairfieldmarketresearch.com
