The Global Liquefied Propane Market was valued at USD 123.5 Billion in 2025 and is projected to reach USD 167.8 Billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 3.9% during the forecast period (2024–2030). This expansion is primarily driven by rising demand from the petrochemical sector for propane dehydrogenation (PDH) plants, increasing adoption of liquefied petroleum gas (LPG) as a cleaner cooking and heating fuel in emerging economies, and the growing use of propane in automotive and industrial applications.

As the global energy landscape pivots towards cleaner and more efficient fuel sources, the Liquefied Propane market stands as a critical pillar. It bridges the gap between traditional fossil fuels and a lower-carbon future. In this analysis, we profile the Top 10 Companies in the Liquefied Propane Industry—a powerful consortium of energy majors, specialized gas suppliers, and logistics giants that are shaping the supply, distribution, and innovation of this versatile fuel worldwide.

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🔟 1. Saudi Aramco

Headquarters: Dhahran, Saudi Arabia
Key Offering: Bulk LPG (Propane & Butane), Specialty Gases

Saudi Aramco, the world’s largest integrated oil and gas company, is a dominant force in the global LPG market. With vast natural gas processing capabilities, it is a leading supplier of bulk propane, supplying markets across Asia, Europe, and the Americas. Its strategic location and massive production capacity give it a significant competitive edge.

Strategic Initiatives:

• Expansion of gas processing facilities to increase LPG yield
• Long-term supply agreements with key Asian importers
• Investment in downstream petrochemical projects to create captive demand

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9️⃣ 2. ExxonMobil Corporation

Headquarters: Irving, Texas, USA
Key Offering: Propane, Butane, LPG Blends

ExxonMobil is a key global player in the LPG value chain, producing and marketing propane from its extensive refining and natural gas operations. The company has a robust logistics network for distributing propane to residential, commercial, and chemical feedstock customers, particularly in the Americas and Europe.

Strategic Initiatives:

• Focus on reliability and security of supply for its global customer base
• Integration of LPG production with its chemical manufacturing assets
• Advancements in shipping and terminal logistics for efficient distribution

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8️⃣ 3. Shell plc

Headquarters: London, United Kingdom
Key Offering: LPG for Domestic, Commercial, and Industrial use

Shell’s LPG business is a significant part of its downstream portfolio. The company supplies propane to millions of customers worldwide for heating, cooking, and transportation. Shell is also actively exploring bio-LPG as part of its wider strategy to provide lower-carbon energy solutions.

Strategic Initiatives:

• Growing its branded LPG business in emerging markets
• Piloting and scaling bio-LPG production from sustainable feedstocks
• Digitalization of supply chains to enhance customer service

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7️⃣ 4. Chevron Corporation

Headquarters: San Ramon, California, USA
Key Offering: Propane, Butane, LPG Fuels

Chevron is a major producer and marketer of LPG, with strong positions in the Asia-Pacific and North American markets. The company leverages its integrated operations to ensure a steady supply of propane for its customers, ranging from household users to large-scale industrial plants.

Strategic Initiatives:

• Strengthening its supply portfolio through strategic partnerships
• Focus on safe and efficient LPG handling and distribution
• Supporting energy access programs in developing regions using LPG

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6️⃣ 5. BP plc

Headquarters: London, United Kingdom
Key Offering: BP Lights LPG, Bulk Propane Supply

BP’s LPG division, often marketed under the “BP Lights” brand in many countries, is a leading supplier of bottled and bulk propane for residential, commercial, and automotive use. The company has a strong retail presence and is investing in making LPG a more sustainable energy choice.

Strategic Initiatives:

• Expansion of autogas (LPG) refueling infrastructure in key markets
• Commitment to reducing the carbon intensity of its energy products
• Investment in customer-centric digital solutions for LPG delivery

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5️⃣ 6. TotalEnergies

Headquarters: Paris, France
Key Offering: TotalGaz LPG, Propane for Chemical Feedstock

TotalEnergies is a leading LPG player in Europe and Africa, with a well-established distribution network under its TotalGaz brand. The company is also a significant supplier of propane to the European petrochemical industry and is actively developing renewable LPG alternatives.

Strategic Initiatives:

• Leadership in the African LPG market, promoting clean cooking solutions
• Development of bio-based LPG to decarbonize the sector
• Strategic partnerships to secure and diversify LPG sources

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4️⃣ 7. ConocoPhillips

Headquarters: Houston, Texas, USA
Key Offering: LPG Export Volumes, Propane from Shale Gas

As a major independent exploration and production company, ConocoPhillips is a key supplier of LPG, particularly propane, to the international market from its US shale operations. The company is one of the largest exporters of LPG from the United States, leveraging its infrastructure on the Gulf Coast.

Strategic Initiatives:

• Capitalizing on abundant NGLs (Natural Gas Liquids) from US shale assets
• Focus on long-term, strategic partnerships with international buyers
• Maintaining a low-cost structure to remain competitive in global markets

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3️⃣ 8. QatarEnergy

Headquarters: Doha, Qatar
Key Offering: Large-Scale LPG Exports, Propane and Butane

QatarEnergy is one of the world’s largest exporters of LNG and LPG. With its massive North Field gas reserves, the company is a cornerstone of global LPG supply, particularly to Asian markets. Its ongoing expansion projects are set to further solidify its leading position.

Strategic Initiatives:

• Multi-billion dollar North Field Expansion projects to increase LPG production capacity
• Long-term offtake agreements ensuring market stability
• Investing in state-of-the-art shipping fleet for product transport

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2️⃣ 9. Reliance Industries Limited

Headquarters: Mumbai, India
Key Offering: LPG for Domestic & Commercial Use, Propane Refrigerant

Reliance Industries is a dominant force in the Indian LPG market, operating one of the world’s largest refining complexes. It is a key supplier to the Indian government’s subsidized cooking gas scheme (Pradhan Mantri Ujjwala Yojana) and also has a growing presence in specialty propane applications.

Strategic Initiatives:

• Strategic focus on the massive and growing Indian domestic LPG market
• Investment in Jamnagar refinery expansion to enhance LPG production
• Development of new applications for propane, including as a refrigerant

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1️⃣ 10. SHV Energy (Flogas, Calor, etc.)

Headquarters: Utrecht, Netherlands
Key Offering: LPG Distribution & Marketing under multiple brands (Calor, Flogas, Primagaz)

SHV Energy is a global leader in the distribution of LPG, operating strong regional brands like Calor in the UK, Flogas in Ireland and the UK, and Primagaz across Europe and other regions. The company specializes in the downstream distribution of propane to off-grid homes, businesses, and industries.

Strategic Initiatives:

• Pioneering the development and distribution of Renewable Liquid Gas (bioLPG)
• Acquisitions and organic growth to expand geographic footprint
• Focus on providing energy solutions for customers beyond the gas grid

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🌍 Outlook: The Future of Liquefied Propane is Versatile and Evolving

The Liquefied Propane market is at a pivotal juncture. While its traditional role as a cooking and heating fuel continues to grow in developing nations, its future is increasingly tied to its value as a chemical building block and a lower-carbon transition fuel. The industry is investing in sustainable production methods and exploring new applications to ensure its long-term relevance.

📈 Key Trends Shaping the Market:

• Rising demand for propane as a feedstock for propylene production in PDH plants, especially in China and the US
• Government-led initiatives in Asia and Africa to switch households from solid fuels to cleaner LPG, improving health and reducing deforestation
• Growth of autogas (LPG as a vehicle fuel) as a cost-effective and cleaner alternative to gasoline and diesel
• Development of bio-propane and renewable LPG from sustainable sources to decarbonize the value chain

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The companies profiled above are not just suppliers of a commodity; they are essential enablers of economic development, cleaner energy access, and industrial growth across the globe. Their strategies will define how liquefied propane contributes to a more sustainable and efficient energy system for decades to come.