Portugal: Market for Liquefied Petroleum Gas (LPG) 2022

Market Size for Liquefied Petroleum Gas (LPG) in Portugal

The Portuguese liquefied petroleum gas (LPG) market surged to $X in 2021, with an increase of 37% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Liquefied Petroleum Gas (LPG) in Portugal

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 deep setback. The most prominent rate of growth was recorded in 2019 with an increase of 39% against the previous year. Liquefied petroleum gas (LPG) production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Liquefied Petroleum Gas (LPG)

Exports from Portugal

In 2021, shipments abroad of liquefied petroleum gas (LPG) decreased by -2.3% to X tons, falling for the second year in a row after two years of growth. Overall, exports continue to indicate a slight curtailment. The growth pace was the most rapid in 2015 with an increase of 38% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, liquefied petroleum gas (LPG) exports skyrocketed to $X in 2021. In general, exports continue to indicate a pronounced contraction. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons), Spain (X tons) and Belgium (X tons) were the main destinations of liquefied petroleum gas (LPG) exports from Portugal, with a combined 90% share of total exports. These countries were followed by France, Tunisia and Senegal, which together accounted for a further 9%.

From 2012 to 2021, the biggest increases were in France (with a CAGR of +451.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Spain ($X) and Belgium ($X) were the largest markets for liquefied petroleum gas (LPG) exported from Portugal worldwide, with a combined 92% share of total exports. These countries were followed by France, Tunisia and Senegal, which together accounted for a further 7.2%.

France, with a CAGR of +335.9%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average liquefied petroleum gas (LPG) export price stood at $X per ton in 2021, increasing by 53% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Belgium ($X per ton), while the average price for exports to Tunisia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Tunisia (+3.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Liquefied Petroleum Gas (LPG)

Imports into Portugal

In 2021, supplies from abroad of liquefied petroleum gas (LPG) increased by 8.1% to X tons, rising for the third year in a row after four years of decline. Overall, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +28.5% against 2018 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 39% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, liquefied petroleum gas (LPG) imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest liquefied petroleum gas (LPG) supplier to Portugal, with a 53% share of total imports. Moreover, liquefied petroleum gas (LPG) imports from the United States exceeded the figures recorded by the second-largest supplier, Spain (X tons), fourfold. The third position in this ranking was taken by the UK (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at +46.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+10.9% per year) and the UK (-8.1% per year).

In value terms, the United States ($X) constituted the largest supplier of liquefied petroleum gas (LPG) to Portugal, comprising 50% of total imports. The second position in the ranking was taken by Spain ($X), with a 15% share of total imports. It was followed by the UK, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +36.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+5.8% per year) and the UK (-11.9% per year).

Import Prices by Country

In 2021, the average liquefied petroleum gas (LPG) import price amounted to $X per ton, increasing by 65% against the previous year. In general, the import price, however, showed a perceptible setback. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from the Netherlands ($X per ton) and Norway ($X per ton), while the price for Equatorial Guinea ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Algeria (-3.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :