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Propane or liquefied petroleum gas (LPG) (C3H8) is a three-carbon alkane which is derived as a co-product of crude oil and natural gas refining. The gas is a member of the hydrocarbon family and is colourless and odourless.
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Its respective melting and boiling point is -187.7°C (-305.9°F) and -42.25°C (-44.05°F). It does not dissolve in water but has solubility in organic solvents like acetone and ethanol.
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 Trend, including India Propane price, USA Propane price, pricing database, and analysis can prove valuable for 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:
Propane is a key feedstock used to produce petrochemicals like propylene and polypropylene, as well as a refrigerant. As it is a clean-burning fuel, it is used to fuel vehicles as a petrol and diesel substitute. In addition to its use as a fuel, it is used to heat up houses, businesses, and commercial facilities.
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Furthermore, it is employed in many agricultural and industrial applications to power kilns, forklifts, boilers, and irrigation pumps. Other factors besides its applications that influence the demand for the commodity include agricultural production, industrial output, economic growth, fuel pricing, environmental laws, and the availability of other alternative fuels.
Key Players:
- AmeriGas Propane, Inc
- Royal Dutch Shell (Shell)
- Saudi Arabian Oil Co
- GAIL (India) Limited
- China Petrochemical Corporation (SINOPEC)
News & Recent Development
- 1 June 2023- Propane price reduction by Saudi Aramco negatively impacted Gujarat gas, bringing costs to $9.8 per MMBtu in the Morbi region.
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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 most 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 tracks 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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Propane is a common heating fuel for buildings and residences, especially in locations where natural gas is unavailable. It is utilised as a fuel in vehicles such as forklifts, buses, and trucks.
