Asia: Market for Liquefied Petroleum Gas (LPG) 2024

Market Size for Liquefied Petroleum Gas (LPG) in Asia

The Asian liquefied petroleum gas (LPG) market skyrocketed to $X in 2022, rising by X% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Liquefied Petroleum Gas (LPG) in Asia

In value terms, liquefied petroleum gas (LPG) production reduced to $X in 2022 estimated in export price. Overall, production recorded a slight shrinkage. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

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Exports of Liquefied Petroleum Gas (LPG)

Exports in Asia

In 2022, approx. X tons of liquefied petroleum gas (LPG) were exported in Asia; declining by X% on 2021 figures. In general, exports, however, showed prominent growth. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons, and then dropped sharply in the following year.

In value terms, liquefied petroleum gas (LPG) exports reduced rapidly to $X in 2022. Overall, exports, however, enjoyed buoyant growth. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then shrank significantly in the following year.

Exports by Country

In 2022, Qatar (X tons) represented the key exporter of liquefied petroleum gas (LPG), mixing up X% of total exports. The United Arab Emirates (X tons) ranks second in terms of the total exports with a X% share, followed by Saudi Arabia (X%). Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest liquefied petroleum gas (LPG) supplying countries in Asia were Qatar ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), together comprising X% of total exports.

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, approximately mirroring the previous year. Overall, the export price, however, recorded a perceptible setback. The growth pace was the most rapid in 2017 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Saudi Arabia ($X per ton) and the United Arab Emirates ($X per ton), while Kuwait ($X per ton) and Qatar ($X per ton) were amongst the lowest.

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

Imports of Liquefied Petroleum Gas (LPG)

Imports in Asia

In 2022, approx. X tons of liquefied petroleum gas (LPG) were imported in Asia; surging 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 2012 indices. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, liquefied petroleum gas (LPG) imports skyrocketed to $X in 2022. In general, imports showed a resilient expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) and India (X tons) were the key importers of liquefied petroleum gas (LPG) in Asia, together amounting to approx. X% of total imports. Japan (X tons) held the next position in the ranking, followed by South Korea (X tons), Indonesia (X tons) and Kuwait (X tons). All these countries together took approx. X% share of total imports. Turkey (X tons), the Philippines (X tons), Taiwan (Chinese) (X tons) and Vietnam (X tons) took a minor share of total imports.

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

In value terms, China ($X), India ($X) and Japan ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Indonesia, South Korea, Kuwait, Turkey, the Philippines, Vietnam and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

Kuwait, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the import price, however, showed a noticeable decline. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. The level of import peaked 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 ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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