Saudi Arabia: Market for Liquefied Petroleum Gas (LPG) 2024

Market Size for Liquefied Petroleum Gas (LPG) in Saudi Arabia

After three years of growth, the Saudi liquefied petroleum gas (LPG) market decreased by X% to $X in 2022. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Liquefied Petroleum Gas (LPG) in Saudi Arabia

In value terms, liquefied petroleum gas (LPG) production shrank to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Liquefied petroleum gas (LPG) 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 from Saudi Arabia

After three years of decline, shipments abroad of liquefied petroleum gas (LPG) increased by X% to X tons in 2022. Overall, total exports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2018 indices. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, liquefied petroleum gas (LPG) exports contracted slightly to $X in 2022. In general, exports, however, saw a mild descent. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

India (X tons) was the main destination for liquefied petroleum gas (LPG) exports from Saudi Arabia, with a X% share of total exports. Moreover, liquefied petroleum gas (LPG) exports to India exceeded the volume sent to the second major destination, China (X tons), fourfold. Egypt (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to India amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Egypt (X% per year).

In value terms, India ($X) remains the key foreign market for liquefied petroleum gas (LPG) exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was taken by China ($X), with an X% share of total exports. It was followed by Egypt, with a X% share.

From 2012 to 2022, the average annual growth rate of value to India stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Egypt (X% per year).

Export Prices by Country

In 2022, the average liquefied petroleum gas (LPG) export price amounted to $X per ton, dropping by X% 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%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Egypt ($X per ton) and India ($X per ton), while the average price for exports to South Korea ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (X%), while the prices for the other major destinations experienced a decline.

Imports of Liquefied Petroleum Gas (LPG)

Imports into Saudi Arabia

In 2022, overseas purchases of liquefied petroleum gas (LPG) decreased by X% to X tons for the first time since 2015, thus ending a six-year rising trend. Overall, imports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2019 when imports increased by X%. Imports peaked at X tons in 2021, and then shrank rapidly in the following year.

In value terms, liquefied petroleum gas (LPG) imports declined significantly to $X in 2022. In general, imports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2019 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2021, and then fell markedly in the following year.

Imports by Country

The United Arab Emirates (X tons), South Korea (X tons) and Germany (X tons) were the main suppliers of liquefied petroleum gas (LPG) imports to Saudi Arabia, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest liquefied petroleum gas (LPG) suppliers to Saudi Arabia were the United Arab Emirates ($X), South Korea ($X) and Germany ($X), together comprising X% of total imports.

In terms of the main suppliers, South Korea, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2022, the average liquefied petroleum gas (LPG) import price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the import price, however, continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2014 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Kuwait ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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