Report Update: May 1, 2024

Philippines - Liquefied Petroleum Gas (LPG) - Market Analysis, Forecast, Size, Trends And Insights

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Price for Liquefied Petroleum Gas (LPG) in the Philippines - 2023

Price for Liquefied Petroleum Gas (LPG) in the Philippines (CIF) - 2023

The average liquefied petroleum gas (LPG) import price stood at $486 per ton in July 2023, falling by -5.2% against the previous month. Overall, the import price recorded a noticeable contraction. The growth pace was the most rapid in February 2023 an increase of 26% m-o-m. As a result, import price reached the peak level of $869 per ton. From March 2023 to July 2023, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In July 2023, the countries with the highest prices were Brunei Darussalam ($614 per ton) and China ($505 per ton), while the price for the United Arab Emirates ($428 per ton) and Saudi Arabia ($464 per ton) were amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by the United States (0.0%), while the prices for the other major suppliers experienced a decline.

Price for Liquefied Petroleum Gas (LPG) in the Philippines (FOB) - 2022

The average liquefied petroleum gas (LPG) export price stood at $650 per ton in 2022, approximately equating the previous year. In general, the export price recorded a pronounced reduction. The most prominent rate of growth was recorded in 2017 an increase of 35%. The export price peaked at $931 per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($1,048 per ton), while the average price for exports to Singapore ($483 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+0.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Liquefied Petroleum Gas (LPG) in the Philippines

After three years of growth, supplies from abroad of liquefied petroleum gas (LPG) decreased by -7.8% to 1.6M tons in 2022. Overall, total imports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +15.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +53.8% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 65% against the previous year. As a result, imports attained the peak of 1.8M tons, and then reduced in the following year.

In value terms, liquefied petroleum gas (LPG) imports stood at $1.3B in 2022. In general, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 144% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Import of Liquefied Petroleum Gas (LPG) in the Philippines (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	55.1	33.7	276	197	52.9%
Saudi Arabia	83.2	55.0	208	196	33.1%
Malaysia	18.9	24.8	37.3	125	87.7%
United Arab Emirates	48.9	60.7	120	122	35.6%
Kuwait	68.1	85.6	59.3	118	20.1%
Nigeria	25.1	25.9	37.7	117	67.0%
Qatar	47.8	9.6	58.6	95.1	25.8%
South Korea	47.3	48.9	69.4	70.5	14.2%
Australia	29.8	22.9	36.3	49.7	18.6%
Algeria	4.8	8.1	52.2	40.4	103.4%
United States	40.0	45.4	32.0	36.3	-3.2%
Brunei Darussalam	6.0	46.8	65.0	35.4	80.7%
Indonesia	7.5	5.2	25.7	27.8	54.8%
Others	31.2	42.7	181	78.1	35.8%
Total	514	515	1,259	1,308	36.5%

Top Suppliers of Liquefied Petroleum Gas (LPG) to the Philippines in 2022:

Saudi Arabia (261.5K tons)
China (221.8K tons)
Nigeria (152.8K tons)
Kuwait (151.6K tons)
United Arab Emirates (149.6K tons)
Malaysia (147.1K tons)
Qatar (130.2K tons)
South Korea (86.7K tons)
Australia (57.6K tons)
Algeria (51.0K tons)
United States (49.0K tons)
Brunei Darussalam (43.5K tons)
Indonesia (36.8K tons)

Exports of Liquefied Petroleum Gas (LPG) in the Philippines

After two years of decline, shipments abroad of liquefied petroleum gas (LPG) increased by 77% to 35K tons in 2022. Overall, exports, however, recorded a sharp decline.

In value terms, liquefied petroleum gas (LPG) exports skyrocketed to $23M in 2022. In general, exports, however, recorded a sharp slump.

Export of Liquefied Petroleum Gas (LPG) in the Philippines (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
South Korea	6.4	8.6	3.5	7.0	3.0%
China	19.4	8.3	1.5	5.1	-35.9%
Thailand	2.6	2.4	1.6	2.8	2.5%
Singapore	3.4	2.4	1.3	1.7	-20.6%
Japan	3.9	2.2	0.7	1.7	-24.2%
Indonesia	3.0	2.1	1.1	1.4	-22.4%
Taiwan (Chinese)	1.7	1.3	0.8	1.1	-13.5%
United States	3.9	0.1	0.1	N/A	-84.0%
Others	1.8	1.4	2.5	2.1	5.3%
Total	46.1	28.7	13.1	23.0	-20.7%

Top Export Markets for Liquefied Petroleum Gas (LPG) from the Philippines in 2022:

United States (undefinedK tons)
South Korea (12.8K tons)
China (6.7K tons)
Thailand (4.6K tons)
Singapore (3.5K tons)
Japan (2.2K tons)
Taiwan (Chinese) (1.7K tons)
Indonesia (1.5K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for liquefied petroleum gas (lpg) in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

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1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023