LNG and LPG Market is projected to exhibit a Compound Annual Growth Rate (CAGR) of 10.7% during the forecast span from 2024 to 2034. In 2023, the market size was assessed at USD 14.8 billion and is projected to reach USD 45.7 billion by the completion of 2034. LPG, or liquefied petroleum gas, is an explosive gas mixture made up of propane (C3H8) and butane (C4H10). It is created by refining crude oil and extracting natural gas, which is then stored in liquid form under pressure.