Lower carbon footprint compared to traditional LPG followed by the potential to completely replace fossil-fuel based LPG used as a cooking gas/Autogas remains the key driver for the global Bio LPG market.
Top 5 players in the market includes: Nest Oil, Total SE, ENI, Preem AB, and Diamond Green Diesel. These players constituted more than 70% of the global bio-LPG market in 2020.
Currently, Europe remains the most lucrative market for bio-LPG followed by North America. Europe is expected to lead the market owing to increasing investments into planned/demonstration projects related to bio-LPG production.
Currently, bio-oil is the most attractive market. However, increasing capacity for hydrogenation and by commercialization of other process routes to bio-LPG is expected to fuel investments into recover of bio-LPG through other processes/routes, especially cellulosic waste processing.
COVID-19 pandemic impacted the market through delays in execution of planned bio-LPG projects. Due to COVID-19, pandemic, R&D activities/pilot/demonstration projects pertaining to recovery of bio-LPG from cellulosic waste became flat owing to bottlenecks related to raw material/equipment's followed by funding’s.