Procurement Resource Evaluates the Price Trends of LPG in its Latest Insights and Dashboard
Price Trends of LPG in its Latest Insights and Dashboard
Procurement Resource does an in-depth analysis of the market trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the LPG 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; customisation of price currencies and units and downloading of price information as excel files that can be used offline. The pricing database and analysis of LPG 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.
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Product Description:
Propane often referred to as liquefied petroleum gas (LPG), is a flammable hydrocarbon gas that is commonly used as a non-toxic, sulfur-free fuel. It primarily consists of propane (C3H8) and butane (C4H10), with minuscule quantities of other hydrocarbons. LPG is a transportable fuel (usually transported in LPG cylinders) and a flexible source of energy for industry positioned in regions where pipe fuel supply is not accessible due to the relative ease of storage (maintained under moderate pressure as a liquid). It is favoured over several other energy fuels since it emits less sulphur and carbon dioxide, rendering it more eco-sustainable. In the process industry, LPG is commonly used to feed boilers that produce steam and boiling water. Because of its high flash point, it is also employed as domestic cooking gas.
Also Check LPG Production Cost Report – https://www.procurementresource.com/production-cost-report-store/lpg
Regions Covered to Evaluate LPG Price Trend:
- North America
- South America
- Europe
- The Asia Pacific
- The Middle East
- Africa
Industrial Uses Impacting LPG Price Trend:
Liquefied petroleum gas (LPG) is one of the most trustworthy fuels used in a variety of industrial applications, such as powering industrial ovens, furnaces, and other heating equipment. It can also be used to power engines such as forklifts, farm engines, and fleet vehicles. LPG is commonly utilised in pottery, roofing, ceramic tiles, and sanitary ware as a renewable energy source. Additionally, in the food business, LPG is popularly utilised in restaurants, hotels, bakeries, and resorts, because of its low sulphur content and adjustable temperature. Furthermore, heat treatments are used in metallurgy to address the demand for highly specialised metals.
LPG can also be utilised in surface-treatment applications like paint drying and galvanization. Because LPG is environmentally beneficial, it has replaced the ozone-depleting CFC gases that were formerly used in aerosols. It is the optimum fuel for agricultural productivity. To avoid any transfer of poor smell or taste to the dried crops, clean and sulphur-free fuel must be used for drying crops, flame culture, cattle farming, and other farm products. Due to a revival in demand following the release of Covid limitations, the delayed restoration of output by oil exporters, and the Russia-Ukraine war, crude prices have been steadily climbing.
Key Market Players:
- Gazprom PAO
- Royal Dutch Shell Plc
- Exxon Mobil Corporation
- Total SA
- BP Plc
News and Events:
In a four-year arrangement worth roughly USD 2 billion, Abu Dhabi National Oil Company (ADNOC) consented to supply Indonesian national oil company Pertamina with liquefied petroleum gas and sulphur. The LPG and sulphur purchase agreement will extend for four years, with an annual contract value of roughly USD 500 million, as part of the Indonesia-Emirates Amazing Week 2021. The agreement also indicated that the quantity could alter if the value of these commodities on the global market fluctuated.
About Us:
Procurement Resource is Claight’s subscription-based SaaS platform providing 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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