Market overview
The global liquefied petroleum gas market is worth USD 177 bn in 2026 and is forecast to reach USD 226 bn by 2036, growing at a 2.5% CAGR. China is the largest country market and Residential and commercial is the largest by application segment.
| Scope | Liquefied petroleum gas, mainly propane and butane blends, sold for cooking, heating, autogas, industrial use and chemical feedstock, valued at the prices paid by buyers of the fuel. |
|---|---|
| Industry | Oil and Gas |
| Value 2025 | USD 174 bn |
| Value 2026 | USD 177 bn |
| Value 2036 | USD 226 bn |
| CAGR 2026-2036 | 2.5% |
| Volume 2026 | 291 million tonnes |
| Volume 2036 | 338 million tonnes |
| Average price 2026 | USD 606 per tonne |
| Report price | Starts from USD 1,999 |
| Published | November 2026 |
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Liquefied Petroleum Gas market size and forecast, 2026-2036
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Year | Market value |
|---|---|
| 2026 | USD 177 bn |
| 2027 | USD 181 bn |
| 2028 | USD 186 bn |
| 2029 | USD 190 bn |
| 2030 | USD 195 bn |
| 2031 | USD 200 bn |
| 2032 | USD 205 bn |
| 2033 | USD 210 bn |
| 2034 | USD 215 bn |
| 2035 | USD 221 bn |
| 2036 | USD 226 bn |
Liquefied Petroleum Gas market segmentation
By application
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Residential and commercial | 45.0% | 43.3% | USD 79.5 bn | 2.1% |
| Petrochemicals | 30.0% | 33.4% | USD 53.0 bn | 3.6% |
| Industrial | 10.0% | 9.6% | USD 17.7 bn | 2.1% |
| Autogas | 8.0% | 6.8% | USD 14.1 bn | 0.9% |
| Refinery and other | 7.0% | 6.7% | USD 12.4 bn | 2.1% |
By source
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Natural gas processing | 56.0% | 56.7% | USD 98.9 bn | 2.6% |
| Refinery production | 36.0% | 34.7% | USD 63.6 bn | 2.1% |
| Imported cargoes in transit trade | 8.0% | 8.5% | USD 14.1 bn | 3.1% |
By distribution form
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Cylinders | 50.0% | 42.0% | USD 88.3 bn | 0.7% |
| Bulk tanker | 34.0% | 38.0% | USD 60.0 bn | 3.6% |
| Piped networks | 16.0% | 20.0% | USD 28.3 bn | 4.8% |
By supplier type
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| State-owned marketers | 36.0% | 34.0% | USD 63.6 bn | 1.9% |
| Private marketers | 40.0% | 42.0% | USD 70.6 bn | 3.0% |
| International traders and direct industrial supply | 24.0% | 24.0% | USD 42.4 bn | 2.5% |
By composition
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Propane-rich | 38.0% | 38.0% | USD 67.1 bn | 2.5% |
| Butane-rich | 28.0% | 26.0% | USD 49.5 bn | 1.7% |
| Propane-butane mix | 34.0% | 36.0% | USD 60.0 bn | 3.1% |
Top 25 countries for liquefied petroleum gas by revenue
Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 61.7% of 2026 revenue and the 25 countries below together hold 89.2%.
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| # | Country | Value 2026 | Share 2026 | Value 2036 | CAGR 2026-36 |
|---|---|---|---|---|---|
| 1 | China | USD 28.3 bn | 16.0% | USD 37.8 bn | 2.9% |
| 2 | United States | USD 26.5 bn | 15.0% | USD 32.1 bn | 1.9% |
| 3 | India | USD 17.7 bn | 10.0% | USD 27.1 bn | 4.4% |
| 4 | Japan | USD 6.2 bn | 3.5% | USD 6.8 bn | 0.9% |
| 5 | Brazil | USD 5.7 bn | 3.2% | USD 6.6 bn | 1.5% |
| 6 | Indonesia | USD 5.3 bn | 3.0% | USD 7.5 bn | 3.5% |
| 7 | South Korea | USD 5.3 bn | 3.0% | USD 5.9 bn | 1.0% |
| 8 | Saudi Arabia | USD 5.3 bn | 3.0% | USD 6.8 bn | 2.5% |
| 9 | Mexico | USD 4.4 bn | 2.5% | USD 5.0 bn | 1.2% |
| 10 | Russia | USD 4.4 bn | 2.5% | USD 5.0 bn | 1.2% |
| 11 | Thailand | USD 4.3 bn | 2.4% | USD 4.8 bn | 1.2% |
| 12 | Iran | USD 4.3 bn | 2.4% | USD 4.8 bn | 1.2% |
| 13 | Turkey | USD 4.3 bn | 2.4% | USD 4.8 bn | 1.2% |
| 14 | Pakistan | USD 4.3 bn | 2.4% | USD 6.1 bn | 3.5% |
| 15 | Philippines | USD 4.3 bn | 2.4% | USD 6.1 bn | 3.5% |
| 16 | Nigeria | USD 4.2 bn | 2.4% | USD 7.1 bn | 5.4% |
| 17 | Vietnam | USD 3.8 bn | 2.1% | USD 5.3 bn | 3.5% |
| 18 | Egypt | USD 3.4 bn | 1.9% | USD 4.8 bn | 3.5% |
| 19 | Bangladesh | USD 3.1 bn | 1.7% | USD 4.3 bn | 3.5% |
| 20 | Italy | USD 2.8 bn | 1.6% | USD 2.6 bn | -0.4% |
| 21 | France | USD 2.5 bn | 1.4% | USD 2.4 bn | -0.4% |
| 22 | Argentina | USD 2.2 bn | 1.3% | USD 2.5 bn | 1.2% |
| 23 | Colombia | USD 2.0 bn | 1.1% | USD 2.3 bn | 1.2% |
| 24 | Australia | USD 1.8 bn | 1.0% | USD 2.0 bn | 1.2% |
| 25 | South Africa | USD 1.6 bn | 0.9% | USD 1.8 bn | 1.2% |
| Rest of world | USD 19.0 bn | 10.8% | USD 23.9 bn | 2.3% |
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
Competitive landscape
Group 1: Global leaders
- Saudi Aramco
- Enterprise Products Partners
- ExxonMobil
- Shell
- ADNOC
- TotalEnergies
Group 2: Regional and specialist players
- UGI
- SHV Energy
- Indian Oil Corporation
- Sinopec
- Astomos Energy
- Petredec
- Superior Plus
- Ultragaz
Group 3: Emerging and niche players
- Targa Resources
- Ferrellgas
- Suburban Propane
- Aygaz
- Flogas
Research methodology
Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the liquefied petroleum gas market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.
The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 2.5% is calculated from the resulting values.
The market is divided by application, by source, by distribution form, by supplier type, by composition. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.
Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.
Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.
Frequently asked questions
How big is the liquefied petroleum gas market?
The global liquefied petroleum gas market is estimated at USD 174 bn in 2025 and USD 177 bn in 2026.
How fast will the liquefied petroleum gas market grow?
It is forecast to reach USD 226 bn by 2036, a compound annual growth rate of 2.5% from 2026, an increase of USD 49.5 bn.
Which country is the largest market for liquefied petroleum gas?
China is the largest market by revenue at USD 28.3 bn in 2026, 16.0% of the global total. The three largest countries together hold 41.0%.
Which country is growing fastest?
Among the ten largest markets, India is growing fastest at 4.4% a year from 2026 to 2036.
Which liquefied petroleum gas segment is largest?
In the by application split, Residential and commercial is the largest segment with 45.0% of 2026 revenue.
Who are the leading liquefied petroleum gas companies?
Global leaders include Saudi Aramco, Enterprise Products Partners, ExxonMobil, Shell.
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