Chemicals, Fuels & Wood Products

Propane: Market Size, Growth & Forecast to 2030

The Propane market is valued at about $128 billion (2026) and is projected to grow at a 4.6% CAGR through 2030. The largest cost driver is Feedstock natural gas liquids and crude oil fractions (72% of spend). North America leads demand at 34%.

Market size
$128.0 bn (2026)
CAGR to 2030
+4.6%
Buyer power
Favours buyers
Tracked suppliers
85

Projected market growth to 2030

Market size index, 2026 = 100, at the 4.6% CAGR.

1251171081001002026104.62027109.42028114.42029119.72030125.22031

Cost structure

Feedstock natural gas liquids and crude oil fractions
72%
Fractionation and processing utilities
11%
Midstream pipeline and bulk terminal transportation
8%
Local storage and specialized trucking delivery
6%
Regulatory compliance and HAZMAT handling
3%

Regional demand split

North America demand
34%
Asia Pacific demand
38%
Europe demand
15%
Middle East demand
7%
Rest of world demand
6%

Key suppliers

Enterprise Products Partners L.P.Targa Resources Corp.Saudi AramcoEnergy Transfer LPSuburban Propane Partners L.P.Sinopec
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Claight market analysis of proprietary and public data. Full report: /category-intelligence/propane