Latin America and the Caribbean: Market for Liquefied Petroleum Gas (LPG) 2024

Market Size for Liquefied Petroleum Gas (LPG) in Latin America and the Caribbean

The Latin American liquefied petroleum gas (LPG) market declined to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption, however, enjoyed a buoyant expansion. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Production of Liquefied Petroleum Gas (LPG) in Latin America and the Caribbean

In value terms, liquefied petroleum gas (LPG) production fell to $X in 2022 estimated in export price. Overall, production, however, saw a mild decrease. The growth pace was the most rapid in 2017 when the production volume increased by X%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Liquefied Petroleum Gas (LPG)

Exports in Latin America and the Caribbean

In 2022, after four years of decline, there was significant growth in overseas shipments of liquefied petroleum gas (LPG), when their volume increased by X% to X tons. In general, exports, however, continue to indicate a noticeable shrinkage. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, liquefied petroleum gas (LPG) exports soared to $X in 2022. Overall, exports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Argentina was the main exporter of liquefied petroleum gas (LPG) in Latin America and the Caribbean, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2022. Chile (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Guatemala (X%), Bolivia (X%), El Salvador (X%) and Trinidad and Tobago (X%). Mexico (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to liquefied petroleum gas (LPG) exports from Argentina stood at X%. At the same time, El Salvador (X%), Chile (X%), Bolivia (X%) and Guatemala (X%) displayed positive paces of growth. Moreover, El Salvador emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Mexico (X%) and Trinidad and Tobago (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Chile, El Salvador, Bolivia and Guatemala increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest liquefied petroleum gas (LPG) supplying countries in Latin America and the Caribbean were Argentina ($X), Chile ($X) and El Salvador ($X), together accounting for X% of total exports.

El Salvador, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price saw a pronounced slump. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was El Salvador ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

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

Imports of Liquefied Petroleum Gas (LPG)

Imports in Latin America and the Caribbean

In 2022, approx. X tons of liquefied petroleum gas (LPG) were imported in Latin America and the Caribbean; which is down by X% on the year before. Over the period under review, imports, however, recorded a remarkable increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then dropped remarkably in the following year.

In value terms, liquefied petroleum gas (LPG) imports reached $X in 2022. In general, imports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Mexico represented the main importer of liquefied petroleum gas (LPG) in Latin America and the Caribbean, with the volume of imports resulting at X tons, which was near X% of total imports in 2022. Brazil (X tons) ranks second in terms of the total imports with a X% share, followed by Ecuador (X%), Chile (X%) and the Dominican Republic (X%). The following importers - El Salvador (X tons) and Guatemala (X tons) - each resulted at a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to liquefied petroleum gas (LPG) imports into Mexico stood at X%. At the same time, El Salvador (X%), Guatemala (X%), Ecuador (X%), the Dominican Republic (X%), Chile (X%) and Brazil (X%) displayed positive paces of growth. Moreover, El Salvador emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Mexico (X p.p.) significantly strengthened its position in terms of the total imports, while Chile and Brazil saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported liquefied petroleum gas (LPG) in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Brazil ($X), with a X% share of total imports. It was followed by Chile, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Mexico amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Chile (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. In general, the import price, however, recorded a slight reduction. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. 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 Guatemala ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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