Asia-Pacific: Market for Liquefied Petroleum Gas (LPG) 2024

Market Size for Liquefied Petroleum Gas (LPG) in Asia-Pacific

In 2022, the Asia-Pacific liquefied petroleum gas (LPG) market increased by X% to $X, rising for the second year in a row after two years of decline. The total consumption indicated a remarkable increase 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, consumption increased by X% against 2020 indices. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the immediate term.

Production of Liquefied Petroleum Gas (LPG) in Asia-Pacific

In value terms, liquefied petroleum gas (LPG) production reduced sharply to $X in 2022 estimated in export price. Over the period under review, production saw a mild setback. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Liquefied Petroleum Gas (LPG)

Exports in Asia-Pacific

For the third year in a row, Asia-Pacific recorded growth in shipments abroad of liquefied petroleum gas (LPG), which increased by X% to X tons in 2022. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, liquefied petroleum gas (LPG) exports rose significantly to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Australia was the key exporting country with an export of about X tons, which accounted for X% of total exports. China (X tons) held the second position in the ranking, followed by Malaysia (X tons), Singapore (X tons), Brunei Darussalam (X tons), South Korea (X tons) and India (X tons). All these countries together took near X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to liquefied petroleum gas (LPG) exports from Australia stood at X%. At the same time, Brunei Darussalam (X%), India (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Brunei Darussalam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. Singapore and Malaysia experienced a relatively flat trend pattern. By contrast, China (X%) illustrated a downward trend over the same period. Australia (X p.p.), Brunei Darussalam (X p.p.) and India (X p.p.) significantly strengthened its position in terms of the total exports, while Singapore, Malaysia and China saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) remains the largest liquefied petroleum gas (LPG) supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by Singapore, with an X% share.

In Australia, liquefied petroleum gas (LPG) exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (X% per year) and Singapore (X% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, picking up by X% against the previous year. Overall, the export price, however, continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced a decline in the export price figures.

Imports of Liquefied Petroleum Gas (LPG)

Imports in Asia-Pacific

In 2022, the amount of liquefied petroleum gas (LPG) imported in Asia-Pacific rose modestly to X tons, picking up by X% on 2021. Total imports indicated a remarkable increase 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, imports increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, liquefied petroleum gas (LPG) imports soared to $X in 2022. In general, imports showed a buoyant expansion. The pace of growth was the most pronounced in 2021 when imports increased by X%. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

China (X tons) and India (X tons) represented roughly X% of total imports in 2022. It was distantly followed by Japan (X tons), South Korea (X tons) and Indonesia (X tons), together making up a X% share of total imports. The following importers - the Philippines (X tons), Taiwan (Chinese) (X tons) and Vietnam (X tons) - each finished at a X% share of total imports.

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

In value terms, China ($X), India ($X) and Japan ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of total imports.

In terms of the main importing countries, China, with a CAGR of X%, recorded 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

The import price in Asia-Pacific stood at $X per ton in 2022, surging by X% against the previous year. In general, the import price, however, showed a pronounced descent. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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