Propane Prices, Trend & Forecasts | Provided by Procurement Resource

Propane is flammable hydrocarbon, which is also known as Liquified petroleum gas (LPG). It is usually stored in form of liquid. It is a by product of natural gas, and hence produced and processed by refining of crude oil.

Propane is colourless, odourless and non-toxic hydrocarbon. It is three carbon alkenes with structural formula C₃H₈. Moreover, it is cost-effective and easily available as well.

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In the global propane market, Europe is one of the leading region due to the increased use of propane in industrial and commercial purposes. Whereas North America is one of the leading producer of propane gas globally because of growing use of burning stoves and heating appliances.

Key Details About the Propane Price Trend:

Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Propane price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.

Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.

The propane price chart, pricing database, and analysis can prove valuable for the procurement managers, directors, and decision-makers to build up their strongly backed up strategic insights to attain progress and profitability in the business.

Industrial Uses Impacting propane Price Trend:

Industrial uses impacting the propane price trend primarily include fluctional fluids for closed and open systems, laboratory chemicals, processing aids specially to produce petroleum, sealant and adhesives chemicals and blowing agents.

Key Market Players:

• AmeriGas Propane, Inc.
• Royal Dutch Shell (Shell)
• Saudi Arabian Oil Co.
• GAIL (India) Limited
• China Petrochemical Corporation (SINOPEC)

News and Events:

• February 2022: To increase the LPG bottling capacity by nearly about 53 percent which is 8 crore cylinder per year by 2030 in Northeast India, Indian Oil Corporation constructed three new plants. In the expansion of the plant, total investment ranged to about INR 325-350 crore.

About Us:

Procurement Resource offers in-depth research on product pricing and market insights for more than 500 chemicals, commodities, and utilities updated daily, weekly, monthly, and annually. It is a cost-effective, one-stop solution for all your market research requirements, irrespective of which part of the value chain you represent.

We have a team of highly experienced analysts who perform comprehensive research to deliver our clients the newest and up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which help in streamlining the procurement process for our clientele. Our team track the prices and production costs of a wide variety of goods and commodities, hence, providing you with the latest and consistent data.

To get real-time facts and insights to help our customers, we work with a varied range of procurement teams across industries. At Procurement Resource, we support our clients, with up-to-date and pioneering practices in the industry, to understand procurement methods, supply chain, and industry trends, so that they can build strategies to achieve maximum growth.

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Reference Link: https://researz.com/propane-prices/