What is the potential for bioLPG?

The current market size stands at a modest 200,000 t/yr, however double-digit year-on-year growth is forecasted until at least 2025. This has potential to lead to more than a tenfold increase in production volumes by 2030.

Commercial volumes are currently produced as a by-product of the HVO production process. There are several new technologies in developmental stages, which offer potential for step-changes in market size as and when they reach commercial scale.

As policies have become increasingly adoptive of biofuels across Europe and emerging markets such as Asia, there is potential to see further production incentives. This is particularly true in the residential sector, where there is likely to be significant opportunities in off-grid heating applications, and in the decarbonization of the petrochemical sector.

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