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

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

The East European liquefied petroleum gas (LPG) market was finally on the rise to reach $X in 2021, after two years of decline. The total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2021 and is likely to continue growth in the near future.

Production of Liquefied Petroleum Gas (LPG) in Eastern Europe

In value terms, liquefied petroleum gas (LPG) production skyrocketed to $X in 2021 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 41% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Liquefied Petroleum Gas (LPG)

Exports in Eastern Europe

In 2021, shipments abroad of liquefied petroleum gas (LPG) decreased by -8.2% to X tons, falling for the third consecutive year after three years of growth. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 28%. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

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

Exports by Country

Russia prevails in exports structure, finishing at X tons, which was near 70% of total exports in 2021. Belarus (X tons) ranks second in terms of the total exports with an 8.5% share, followed by Poland (5.2%). Romania (X tons), Lithuania (X tons), the Czech Republic (X tons) and Latvia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to liquefied petroleum gas (LPG) exports from Russia stood at +1.7%. At the same time, Poland (+7.0%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +7.0% from 2012-2021. Lithuania and Latvia experienced a relatively flat trend pattern. By contrast, Belarus (-1.1%), the Czech Republic (-3.9%) and Romania (-4.8%) illustrated a downward trend over the same period. Russia (+6.3 p.p.) and Poland (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while the Czech Republic, Belarus and Romania saw its share reduced by -1.5%, -1.5% and -2.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest liquefied petroleum gas (LPG) supplier in Eastern Europe, comprising 64% of total exports. The second position in the ranking was held by Belarus ($X), with a 9% share of total exports. It was followed by Poland, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Russia amounted to -2.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Belarus (-5.0% per year) and Poland (+4.5% per year).

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, surging by 57% against the previous year. In general, the export price, however, continues to indicate a noticeable descent. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Poland ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (-2.4%), while the other leaders experienced a decline in the export price figures.

Imports of Liquefied Petroleum Gas (LPG)

Imports in Eastern Europe

In 2021, purchases abroad of liquefied petroleum gas (LPG) was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 31% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, liquefied petroleum gas (LPG) imports soared to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Poland (X tons) and Ukraine (X tons) represented the largest importers of liquefied petroleum gas (LPG) in 2021, amounting to near 38% and 28% of total imports, respectively. It was distantly followed by Hungary (X tons) and Bulgaria (X tons), together committing a 14% share of total imports. Latvia (X tons), Romania (X tons), Russia (X tons), the Czech Republic (X tons) and Belarus (X tons) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Ukraine (with a CAGR of +12.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest liquefied petroleum gas (LPG) importing markets in Eastern Europe were Poland ($X), Ukraine ($X) and Hungary ($X), with a combined 74% share of total imports.

Among the main importing countries, Ukraine, with a CAGR of +11.2%, saw the highest growth rate of the value of imports, 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 Eastern Europe stood at $X per ton in 2021, picking up by 58% against the previous year. Overall, the import price, however, saw a pronounced downturn. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Romania ($X per ton), while Latvia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (-0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

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