Vietnam: Market for Liquefied Petroleum Gas (LPG) 2024

Market Size for Liquefied Petroleum Gas (LPG) in Vietnam

The Vietnamese liquefied petroleum gas (LPG) market contracted slightly to $X in 2022, shrinking by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, showed a prominent expansion. Liquefied petroleum gas (LPG) consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Exports of Liquefied Petroleum Gas (LPG)

Exports from Vietnam

In 2022, the amount of liquefied petroleum gas (LPG) exported from Vietnam dropped to X tons, declining by X% against 2021. In general, exports recorded a deep setback. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, liquefied petroleum gas (LPG) exports contracted to $X in 2022. Overall, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cambodia (X tons) was the main destination for liquefied petroleum gas (LPG) exports from Vietnam, with a X% share of total exports. It was followed by the Philippines (X tons), with a X% share of total exports.

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

In value terms, Cambodia ($X) remains the key foreign market for liquefied petroleum gas (LPG) exports from Vietnam, comprising X% of total exports. The second position in the ranking was held by the Philippines ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Cambodia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Malaysia (X% per year).

Export Prices by Country

The average liquefied petroleum gas (LPG) export price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price, however, recorded a abrupt downturn. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to Malaysia ($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 the Philippines (X%), while the prices for the other major destinations experienced a decline.

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Imports of Liquefied Petroleum Gas (LPG)

Imports into Vietnam

In 2022, liquefied petroleum gas (lpg) imports into Vietnam reduced to X tons, declining by X% compared with the previous year's figure. Overall, imports, however, continue to indicate a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, liquefied petroleum gas (LPG) imports shrank to $X in 2022. In general, total imports indicated notable 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 2017 when imports increased by X%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), the United States (X tons) and Brunei Darussalam (X tons) were the main suppliers of liquefied petroleum gas (LPG) imports to Vietnam, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brunei Darussalam (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) suppliers to Vietnam were China ($X), the United States ($X) and Brunei Darussalam ($X), together accounting for X% of total imports.

In terms of the main suppliers, Brunei Darussalam, with a CAGR of X%, saw the highest growth rate of 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, almost unchanged from the previous year. In general, the import price saw a abrupt decrease. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per ton) and Indonesia ($X per ton), while the price for the United Arab Emirates ($X per ton) and Kuwait ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brunei Darussalam (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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