Propane is a gaseous hydrocarbon made of carbon and hydrogen. The chemical formula for this 3-C containing compound is C3 H6. Moreover, it is the third component in the paraffin series after ethane and methane.
It is commercially available as liquid propane or as a sizable portion of liquefied petroleum gas after being isolated in significant amounts from natural gas, light crude oil, and oil-refinery gases.
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Due to its low boiling point of -42.1 °C, propane readily liquefies at high pressure. It is therefore shipped in tanks and cylinders as a liquid.
It is quite crucial for internal combustion engines used in both home and industrial contexts, as well as with liquid butane.
Algeria, Saudi Arabia, Qatar, the US, and Qatar are the countries that produce propane.
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, chart, 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:
In the process of steam cracking, propane is used as a feedstock to create base petrochemicals. It serves as the hot-air balloons’ main fuel source.
Silicon carbide is deposited using it in the manufacturing of semiconductors. Propane is a common propellant in household aerosol sprays like shaving cream and air fresheners as well as a cooking fuel.
Furthermore, propane is used to make propylene and to extract vegetable and animal lipids.
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 20, 2023: GAIL wants to switch to ethane from propane and naphtha for the production of ethylene at the Pata HDPE and LLDPE units.
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