Middle East: Market for Liquefied Petroleum Gas (LPG) 2024

Market Size for Liquefied Petroleum Gas (LPG) in the Middle East

The Middle Eastern liquefied petroleum gas (LPG) market skyrocketed to $X in 2022, increasing by X% against the previous year. Overall, consumption, however, continues to indicate a slight setback. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Liquefied Petroleum Gas (LPG) in the Middle East

In value terms, liquefied petroleum gas (LPG) production dropped to $X in 2022 estimated in export price. Over the period under review, production recorded a slight slump. The growth pace was the most rapid in 2017 with an increase of X%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

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Exports of Liquefied Petroleum Gas (LPG)

Exports in the Middle East

In 2022, approx. X tons of liquefied petroleum gas (LPG) were exported in the Middle East; reducing by X% compared with the year before. Over the period under review, exports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then fell significantly in the following year.

In value terms, liquefied petroleum gas (LPG) exports reduced markedly to $X in 2022. In general, exports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then shrank notably in the following year.

Exports by Country

Qatar represented the major exporter of liquefied petroleum gas (LPG) in the Middle East, with the volume of exports reaching X tons, which was near X% of total exports in 2022. The United Arab Emirates (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (X%) and Kuwait (X%).

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, Qatar ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

The United Arab Emirates, 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 a decline in the exports figures.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, remaining constant against the previous year. Overall, the export price saw a pronounced downturn. The growth pace was the most rapid in 2017 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a 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 the Middle East

In 2022, overseas purchases of liquefied petroleum gas (LPG) increased by X% to X tons, rising for the third consecutive year after four years of decline. Overall, imports continue to indicate a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, liquefied petroleum gas (LPG) imports surged to $X in 2022. Over the period under review, imports enjoyed a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Kuwait (X tons) and Turkey (X tons) dominates imports structure, together comprising X% of total imports. The following importers - the United Arab Emirates (X tons) and Lebanon (X tons) - each reached a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Kuwait (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest liquefied petroleum gas (LPG) importing markets in the Middle East were Kuwait ($X), Turkey ($X) and Lebanon ($X), with a combined X% share of total imports.

Kuwait, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates ($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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