Market overview
The global propane market is worth USD 112 bn in 2026 and is forecast to reach USD 143 bn by 2036, growing at a 2.5% CAGR. United States is the largest country market and Residential and commercial heating is the largest by use segment.
| Scope | Propane in pure form sold as heating and cooking fuel, autogas, industrial fuel and petrochemical feedstock for propylene and cracker use, valued at delivered prices paid by buyers. |
|---|---|
| Industry | Oil and Gas |
| Value 2025 | USD 110 bn |
| Value 2026 | USD 112 bn |
| Value 2036 | USD 143 bn |
| CAGR 2026-2036 | 2.5% |
| Volume 2026 | 206 million tonnes |
| Volume 2036 | 239 million tonnes |
| Average price 2026 | USD 542 per tonne |
| Report price | Starts from USD 1,999 |
| Published | November 2026 |
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Propane market size and forecast, 2026-2036
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Year | Market value |
|---|---|
| 2026 | USD 112 bn |
| 2027 | USD 114 bn |
| 2028 | USD 117 bn |
| 2029 | USD 120 bn |
| 2030 | USD 123 bn |
| 2031 | USD 126 bn |
| 2032 | USD 129 bn |
| 2033 | USD 133 bn |
| 2034 | USD 136 bn |
| 2035 | USD 139 bn |
| 2036 | USD 143 bn |
Propane market segmentation
By use
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 heating | 34.0% | 31.2% | USD 38.0 bn | 1.6% |
| Petrochemical feedstock | 34.0% | 38.0% | USD 38.0 bn | 3.6% |
| Industrial fuel | 12.0% | 11.6% | USD 13.4 bn | 2.1% |
| Autogas | 7.0% | 6.0% | USD 7.8 bn | 0.9% |
| Agriculture and other | 13.0% | 13.2% | USD 14.5 bn | 2.6% |
By source
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Gas processing plants | 52.0% | 54.7% | USD 58.1 bn | 3.0% |
| Fractionation of NGL streams | 18.0% | 18.0% | USD 20.1 bn | 2.5% |
| Refinery propane | 30.0% | 27.3% | USD 33.5 bn | 1.5% |
By sales channel
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Bulk delivery to tanks | 44.0% | 44.3% | USD 49.1 bn | 2.6% |
| Cylinder distribution | 32.0% | 27.7% | USD 35.7 bn | 1.0% |
| Pipeline and wholesale supply | 24.0% | 28.0% | USD 26.8 bn | 4.1% |
By grade
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| HD-5 propane (consumer) | 62.0% | 60.5% | USD 69.2 bn | 2.2% |
| Commercial propane | 23.0% | 22.5% | USD 25.7 bn | 2.3% |
| Refrigerated and export grade | 15.0% | 17.0% | USD 16.7 bn | 3.8% |
By end market
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Households | 38.0% | 33.0% | USD 42.4 bn | 1.1% |
| Commercial and hospitality | 16.0% | 16.1% | USD 17.9 bn | 2.6% |
| Industry and chemicals | 28.0% | 32.8% | USD 31.3 bn | 4.1% |
| Transport | 18.0% | 18.1% | USD 20.1 bn | 2.6% |
Top 25 countries for propane by revenue
Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 68.0% of 2026 revenue and the 25 countries below together hold 91.7%.
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| # | Country | Value 2026 | Share 2026 | Value 2036 | CAGR 2026-36 |
|---|---|---|---|---|---|
| 1 | United States | USD 22.3 bn | 20.0% | USD 27.0 bn | 1.9% |
| 2 | China | USD 21.2 bn | 19.0% | USD 29.7 bn | 3.4% |
| 3 | India | USD 7.8 bn | 7.0% | USD 12.0 bn | 4.4% |
| 4 | Japan | USD 4.5 bn | 4.0% | USD 4.7 bn | 0.6% |
| 5 | South Korea | USD 3.9 bn | 3.5% | USD 4.4 bn | 1.3% |
| 6 | Brazil | USD 3.9 bn | 3.5% | USD 4.4 bn | 1.3% |
| 7 | Saudi Arabia | USD 3.3 bn | 3.0% | USD 4.3 bn | 2.5% |
| 8 | Mexico | USD 3.3 bn | 3.0% | USD 3.9 bn | 1.4% |
| 9 | Canada | USD 2.8 bn | 2.5% | USD 3.1 bn | 1.2% |
| 10 | Indonesia | USD 2.8 bn | 2.5% | USD 3.9 bn | 3.3% |
| 11 | Germany | USD 2.7 bn | 2.4% | USD 5.6 bn | 7.6% |
| 12 | France | USD 2.7 bn | 2.4% | USD 3.8 bn | 3.5% |
| 13 | United Kingdom | USD 2.7 bn | 2.4% | USD 3.1 bn | 1.3% |
| 14 | Italy | USD 2.3 bn | 2.1% | USD 2.6 bn | 1.3% |
| 15 | Spain | USD 2.0 bn | 1.8% | USD 2.3 bn | 1.3% |
| 16 | Turkey | USD 1.8 bn | 1.6% | USD 2.1 bn | 1.3% |
| 17 | Thailand | USD 1.7 bn | 1.5% | USD 1.9 bn | 1.4% |
| 18 | Australia | USD 1.6 bn | 1.4% | USD 1.8 bn | 1.3% |
| 19 | Russia | USD 1.5 bn | 1.3% | USD 1.7 bn | 1.3% |
| 20 | Poland | USD 1.4 bn | 1.2% | USD 1.6 bn | 1.4% |
| 21 | Vietnam | USD 1.3 bn | 1.2% | USD 1.6 bn | 2.1% |
| 22 | Egypt | USD 1.3 bn | 1.1% | USD 1.4 bn | 1.2% |
| 23 | Argentina | USD 1.2 bn | 1.1% | USD 1.4 bn | 1.3% |
| 24 | Netherlands | USD 1.1 bn | 1.0% | USD 1.3 bn | 1.4% |
| 25 | Pakistan | USD 1.1 bn | 1.0% | USD 1.3 bn | 1.3% |
| Rest of world | USD 9.3 bn | 8.3% | USD 11.9 bn | 2.5% |
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
Competitive landscape
Group 1: Global leaders
- Enterprise Products Partners
- Targa Resources
- Saudi Aramco
- ExxonMobil
- Energy Transfer
- ONEOK
- Phillips 66
- Shell
Group 2: Regional and specialist players
- AmeriGas
- Suburban Propane
- SHV Energy
- Indian Oil Corporation
- Antargaz
- Calor Gas
- Ultragaz
- ENEOS Globe
- Flogas
- Bharat Petroleum
Group 3: Emerging and niche players
- Ferrellgas
- Superior Plus
- Star Group
- Blossman Gas
- Thompson Gas
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 propane 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 use, by source, by sales channel, by grade, by end market. 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 propane market?
The global propane market is estimated at USD 110 bn in 2025 and USD 112 bn in 2026.
How fast will the propane market grow?
It is forecast to reach USD 143 bn by 2036, a compound annual growth rate of 2.5% from 2026, an increase of USD 31.3 bn.
Which country is the largest market for propane?
United States is the largest market by revenue at USD 22.3 bn in 2026, 20.0% of the global total. The three largest countries together hold 46.0%.
Which country is growing fastest?
Among the ten largest markets, India is growing fastest at 4.4% a year from 2026 to 2036.
Which propane segment is largest?
In the by use split, Residential and commercial heating is the largest segment with 34.0% of 2026 revenue.
Who are the leading propane companies?
Global leaders include Enterprise Products Partners, Targa Resources, Saudi Aramco, ExxonMobil.
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