Eastern Asia: Market for Liquefied Petroleum Gas (LPG) 2022

Market Size for Liquefied Petroleum Gas (LPG) in Eastern Asia

In 2021, the East Asian liquefied petroleum gas (LPG) market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 Eastern Asia

In value terms, liquefied petroleum gas (LPG) production soared to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Liquefied Petroleum Gas (LPG)

Exports in Eastern Asia

In 2021, shipments abroad of liquefied petroleum gas (LPG) decreased by -3.1% to X tons, falling for the second year in a row after four years of growth. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 12% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, liquefied petroleum gas (LPG) exports surged to $X in 2021. In general, exports showed a perceptible slump. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, China (X tons) was the main exporter of liquefied petroleum gas (LPG), creating 57% of total exports. It was distantly followed by South Korea (X tons) and Japan (X tons), together committing a 41% share of total exports. Taiwan (Chinese) (X tons) held a relatively small share of total exports.

From 2012 to 2021, the biggest increases were in Japan (with a CAGR of +11.2%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, China ($X), South Korea ($X) and Japan ($X) constituted the countries with the highest levels of exports in 2021, together comprising 98% of total exports.

Japan, with a CAGR of +6.7%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, rising by 40% against the previous year. Over the period under review, the export price, however, showed a noticeable decline. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-0.2%), while the other leaders experienced a decline in the export price figures.

Imports of Liquefied Petroleum Gas (LPG)

Imports in Eastern Asia

In 2021, imports of liquefied petroleum gas (LPG) in Eastern Asia soared to X tons, with an increase of 18% against the previous year's figure. Total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +95.8% against 2012 indices. The pace of growth appeared the most rapid in 2016 with an increase of 23%. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in years to come.

In value terms, liquefied petroleum gas (LPG) imports soared to $X in 2021. Total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China represented the major importing country with an import of around X tons, which recorded 55% of total imports. Japan (X tons) took the second position in the ranking, followed by South Korea (X tons). All these countries together took approx. 41% share of total imports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the liquefied petroleum gas (LPG) imports, with a CAGR of +24.0% from 2012 to 2021. At the same time, Taiwan (Chinese) (+8.3%) and South Korea (+3.4%) displayed positive paces of growth. By contrast, Japan (-2.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +39 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported liquefied petroleum gas (LPG) in Eastern Asia, comprising 56% of total imports. The second position in the ranking was held by Japan ($X), with a 23% share of total imports. It was followed by South Korea, with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +19.2%. In the other countries, the average annual rates were as follows: Japan (-7.0% per year) and South Korea (-0.6% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, increasing by 46% against the previous year. Over the period under review, the import price, however, saw a pronounced decline. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-3.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :