Turkey: Market for Liquefied Petroleum Gas (LPG) 2024

Market Size for Liquefied Petroleum Gas (LPG) in Turkey

In 2022, the Turkish liquefied petroleum gas (LPG) market increased by X% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Liquefied petroleum gas (LPG) consumption peaked in 2022 and is expected to retain growth in the immediate term.

Exports of Liquefied Petroleum Gas (LPG)

Exports from Turkey

In 2022, approx. X tons of liquefied petroleum gas (LPG) were exported from Turkey; with an increase of X% against the year before. Over the period under review, exports saw buoyant growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, liquefied petroleum gas (LPG) exports surged to $X in 2022. In general, exports posted resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Lebanon (X tons), Tunisia (X tons) and Bulgaria (X tons) were the main destinations of liquefied petroleum gas (LPG) exports from Turkey, together accounting for X% of total exports. Cyprus, Syrian Arab Republic, Romania, Greece, the United States, Belgium and South Korea lagged somewhat behind, together accounting for a further X%.

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

In value terms, Lebanon ($X), Tunisia ($X) and Bulgaria ($X) appeared to be the largest markets for liquefied petroleum gas (LPG) exported from Turkey worldwide, together accounting for X% of total exports. Cyprus, Syrian Arab Republic, Romania, Greece, the United States, Belgium and South Korea lagged somewhat behind, together accounting for a further X%.

Romania, with a CAGR of X%, 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

In 2022, the average liquefied petroleum gas (LPG) export price amounted to $X per ton, surging by X% against the previous year. In general, the export price, however, recorded a perceptible downturn. The pace of growth appeared the most rapid in 2021 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Bulgaria ($X per ton) was amongst the lowest.

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

Imports of Liquefied Petroleum Gas (LPG)

Imports into Turkey

In 2022, overseas purchases of liquefied petroleum gas (LPG) increased by X% to X tons, rising for the third consecutive year after two years of decline. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, liquefied petroleum gas (LPG) imports skyrocketed to $X in 2022. In general, total imports indicated noticeable growth from 2012 to 2022: its value 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, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Algeria (X tons), the United States (X tons) and Kazakhstan (X tons) were the main suppliers of liquefied petroleum gas (LPG) imports to Turkey, together accounting for X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest liquefied petroleum gas (LPG) suppliers to Turkey were Algeria ($X), the United States ($X) and Kazakhstan ($X), together accounting for X% of total imports.

The United States, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average liquefied petroleum gas (LPG) import price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, import price indicated a notable expansion from 2012 to 2022: its price 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, liquefied petroleum gas (LPG) import price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X%. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Kazakhstan ($X per ton) and Algeria ($X per ton), while the price for Norway ($X per ton) and Russia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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