ASEAN: Market for Liquefied Petroleum Gas (LPG) 2024

Market Size for Liquefied Petroleum Gas (LPG) in ASEAN

In 2022, the ASEAN liquefied petroleum gas (LPG) market increased by X% to $X, rising for the second year in a row after two years of decline. The total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in years to come.

Production of Liquefied Petroleum Gas (LPG) in ASEAN

In value terms, liquefied petroleum gas (LPG) production declined sharply to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a slight contraction. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. As a result, production attained the peak level of $X, and then fell sharply in the following year.

Exports of Liquefied Petroleum Gas (LPG)

Exports in ASEAN

Liquefied petroleum gas (LPG) exports fell slightly to X tons in 2022, almost unchanged from 2021 figures. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, leveling off in the following year.

In value terms, liquefied petroleum gas (LPG) exports rose to $X in 2022. Over the period under review, exports continue to indicate a mild decline. The pace of growth was the most pronounced in 2021 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Malaysia (X tons), Singapore (X tons) and Brunei Darussalam (X tons) represented the key exporter of liquefied petroleum gas (LPG) in ASEAN, committing X% of total export. It was distantly followed by Thailand (X tons), Indonesia (X tons) and Vietnam (X tons), together generating a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Brunei Darussalam (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest liquefied petroleum gas (LPG) supplying countries in ASEAN were Singapore ($X), Brunei Darussalam ($X) and Malaysia ($X), with a combined X% share of total exports.

Among the main exporting countries, Brunei Darussalam, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, increasing by X% against the previous year. In general, the export price, however, continues to indicate a noticeable slump. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced a decline in the export price figures.

Imports of Liquefied Petroleum Gas (LPG)

Imports in ASEAN

Liquefied petroleum gas (LPG) imports rose remarkably to X tons in 2022, increasing by X% against the year before. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2014 indices. The pace of growth was the most pronounced in 2013 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, liquefied petroleum gas (LPG) imports surged to $X in 2022. Overall, imports saw a temperate increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

Indonesia was the key importer of liquefied petroleum gas (LPG) in ASEAN, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2022. It was distantly followed by the Philippines (X tons), Vietnam (X tons) and Thailand (X tons), together committing a X% share of total imports. Malaysia (X tons) took a little share of total imports.

Imports into Indonesia increased at an average annual rate of X% from 2012 to 2022. At the same time, the Philippines (X%), Vietnam (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. Thailand experienced a relatively flat trend pattern. From 2012 to 2022, the share of Indonesia, the Philippines and Vietnam increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported liquefied petroleum gas (LPG) in ASEAN, comprising X% of total imports. The second position in the ranking was taken by the Philippines ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: the Philippines (X% per year) and Thailand (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, jumping by X% against the previous year. In general, the import price, however, continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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