LPG Market size is valued at USD 132.3 Billion in 2021 and is expected to grow at a significant CAGR of 4.8% during the forecast period 2022 to 2028. The global market provides a detailed overview of the LPG Market and that can be segmented by Technology, Application. By technology, the LPG market has been segmented into Refinery, Associated Gas, and Non-associated gas. The refinery segment is likely to be the largest and fastest-growing segment in terms of type. Based on application LPG market is segmented into Residential, Transport, Industrial, Commercial, and Refinery. Among these, the Residential segment is expected to have the fastest-growing market during the forecast period 2022-2028 according to precision business insights.
In March 2021, Total Oil India Private Ltd. (a subsidiary of Total SE) launched a new LPG cutting gas product developed specially for the metal cutting industry. This product launch has strengthened the product portfolio of company.