Report Update: Apr 1, 2024

U.S. - Liquefied Petroleum Gas (LPG) - Market Analysis, Forecast, Size, Trends And Insights

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

Price for Liquefied Petroleum Gas (LPG) in the United States (FOB) - 2023

In September 2023, the average liquefied petroleum gas (LPG) export price amounted to $516 per ton, approximately reflecting the previous month. Over the period under review, the export price, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in August 2023 an increase of 13% against the previous month. Over the period under review, the average export prices hit record highs at $724 per ton in September 2022; however, from October 2022 to September 2023, the export prices remained at a lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Turkey ($718 per ton), while the average price for exports to Spain ($382 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+0.6%), while the prices for the other major destinations experienced a decline.

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

The average liquefied petroleum gas (LPG) import price stood at $1,217 per ton in September 2023, increasing by 13% against the previous month. Over the period under review, the import price, however, recorded a noticeable reduction. Over the period under review, average import prices attained the peak figure at $1,759 per ton in September 2022; however, from October 2022 to September 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Equatorial Guinea ($2,166 per ton), while the price for Canada ($1,143 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Angola (+5.5%), while the prices for the other major suppliers experienced a decline.

Exports of Liquefied Petroleum Gas (LPG) in the United States

In 2022, shipments abroad of liquefied petroleum gas (LPG) decreased by -32.1% to 61M tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 129% against the previous year. As a result, the exports attained the peak of 89M tons, and then fell remarkably in the following year.

In value terms, liquefied petroleum gas (LPG) exports soared to $33.3B in 2022. Over the period under review, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 71% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Export of Liquefied Petroleum Gas (LPG) in the United States (Billion USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	4.7	4.1	6.3	7.2	15.3%
Mexico	1.8	1.9	3.0	3.4	23.6%
China	0.1	1.4	2.9	3.0	210.7%
South Korea	1.4	1.3	2.7	2.9	27.5%
Indonesia	0.8	0.9	1.9	1.6	26.0%
Netherlands	0.7	0.6	0.7	1.4	26.0%
Morocco	0.3	0.2	0.6	1.1	54.2%
Singapore	0.2	0.1	0.7	1.0	71.0%
Belgium	0.1	0.2	0.3	0.9	108.0%
Turkey	0.2	0.3	0.6	0.8	58.7%
Brazil	0.5	0.5	0.8	0.7	11.9%
Egypt	0.2	0.1	0.6	0.7	51.8%
Ecuador	0.4	0.4	0.4	0.7	20.5%
Others	4.2	4.0	6.4	7.7	22.4%
Total	15.5	16.2	27.8	33.3	29.0%

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

Japan (13.0M tons)
Mexico (5.9M tons)
China (5.3M tons)
South Korea (5.1M tons)
Indonesia (3.0M tons)
Netherlands (2.4M tons)
Morocco (2.3M tons)
Singapore (1.7M tons)
Turkey (1.6M tons)
Belgium (1.6M tons)
Egypt (1.5M tons)
Brazil (1.3M tons)
Ecuador (1.3M tons)

Imports of Liquefied Petroleum Gas (LPG) in the United States

In 2022, the amount of liquefied petroleum gas (LPG) imported into the United States declined slightly to 2.1M tons, which is down by -2.1% against 2021. Over the period under review, imports saw a sharp shrinkage. The pace of growth was the most pronounced in 2021 when imports increased by 11% against the previous year.

In value terms, liquefied petroleum gas (LPG) imports skyrocketed to $3.6B in 2022. In general, imports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 89% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Import of Liquefied Petroleum Gas (LPG) in the United States (Billion USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Canada	1.9	1.4	2.9	3.4	21.4%
Equatorial Guinea	0.1	0.1	0.1	0.1	0.0%
Others	0.2	0.1	0.1	0.1	-20.6%
Total	2.2	1.6	3.1	3.6	17.8%

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

Canada (1950.6K tons)
Equatorial Guinea (52.7K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for liquefied petroleum gas (lpg) in the U.S.. 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:

United States

Data coverage:

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

Reasons to buy this report:

Take advantage of the latest data
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Discover vital success factors affecting the market

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

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

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