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MEA Liquefied Petroleum Gas Market Worth $48 Billion by 2019

The report “Middle East and Africa Liquefied Petroleum Gas Market by Sources (Refineries, Associated and non-Associated),by Application (Residential/commercial, chemical , industrial and auto gas & Others),by Countries - Regional Trends & Forecast to 2019”, the Middle East & Africa (MEA) LPG market was valued at $38.3 billion in 2013 and is expected to grow at a CAGR of 4.0% during the forecast period of 2014 to 2019.

Browse through the TOC of the Middle East and Africa Liquefied Petroleum Gas Market for an analysis of industry trends and segments, with the help of various tables and figures.

http://www.micromarketmonitor.com/market/middle-east-and-africa-liquid-petroleum-gas-7210035488.html

LPG is an important fuel source, and its constituents (propane and butane) are considered as important raw materials preferably used for the manufacture of chemicals. Chemical application of LPG has the second largest consumption of LPG on a global scale.

As Middle East and Africa has an increasing number of oil and gas wells, the exploration activities in these regions are considered to increase at a rapid pace. This has become one of the sole reasons of refineries and associated sources of LPG dominating the Middle Eastern market. Use of LPG in the form of autogas is expected to remain stable in the Middle East region, owing to the availability of other cheaper substitutes. In contrast to this, the chemical manufacturing industry in this region is projected to drive the market demand of LPG, thereby increasing its consumption as petrochemical feedstock. With respect to all the above stated factors, Middle East and Africa is considered to the largest supplier of LPG that is obtained by the refining of crude oil.

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The Middle East and Africa Liquid Petroleum Gas market was valued at $39.87 billion in 2014, and is projected to reach $48.53 billion by 2019, at a CAGR of 4% during the forecast period. Most of the Middle East countries are net producers of crude oil. The government owned oil and gas companies that have become major consumers of LPG are Saudi Armco, National Iranian Oil Company, and Qatar Oil among others.

The market research report offers an insightful overview of the regional LPG market in Middle East and Africa. It mainly focuses on offering regional data, pertaining to production and demand side analysis of LPG, along with competitive evaluation of companies that are leading in this market. The report highlights a variety of market parameters which helps in determining the significant drivers of the Middle East and Africa LPG market.

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