GCC: Market for Liquefied Petroleum Gas (LPG) 2024

Market Size for Liquefied Petroleum Gas (LPG) in GCC

The GCC liquefied petroleum gas (LPG) market soared to $X in 2022, increasing by X% against the previous year. In general, consumption, however, saw a mild shrinkage. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Liquefied Petroleum Gas (LPG) in GCC

In value terms, liquefied petroleum gas (LPG) production contracted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a slight descent. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Liquefied Petroleum Gas (LPG)

Exports in GCC

In 2022, approx. X tons of liquefied petroleum gas (LPG) were exported in GCC; dropping by X% compared with the year before. Overall, exports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then declined dramatically in the following year.

In value terms, liquefied petroleum gas (LPG) exports contracted sharply to $X in 2022. Over the period under review, exports, however, showed a resilient increase. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then reduced rapidly in the following year.

Exports by Country

In 2022, Qatar (X tons) represented the largest exporter of liquefied petroleum gas (LPG), mixing up X% of total exports. The United Arab Emirates (X tons) ranks second in terms of the total exports with a X% share, followed by Saudi Arabia (X%) and Kuwait (X%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the United Arab Emirates (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Qatar ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Among the main exporting countries, the United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, approximately reflecting the previous year. Overall, the export price continues to indicate a perceptible decline. The pace of growth appeared the most rapid in 2017 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Saudi Arabia ($X per ton) and the United Arab Emirates ($X per ton), while Kuwait ($X per ton) and Qatar ($X per ton) were amongst the lowest.

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

Imports of Liquefied Petroleum Gas (LPG)

Imports in GCC

After six years of decline, overseas purchases of liquefied petroleum gas (LPG) increased by X% to X tons in 2022. Overall, imports posted a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, liquefied petroleum gas (LPG) imports surged to $X in 2022. In general, imports saw a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Kuwait dominates imports structure, recording X tons, which was near X% of total imports in 2022. It was distantly followed by the United Arab Emirates (X tons), comprising a X% share of total imports.

Kuwait was also the fastest-growing in terms of the liquefied petroleum gas (LPG) imports, with a CAGR of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Kuwait (X p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Kuwait ($X) constitutes the largest market for imported liquefied petroleum gas (LPG) in GCC, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Kuwait stood at X%.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, waning by X% against the previous year. Overall, the import price recorded a abrupt decrease. The pace of growth appeared the most rapid in 2019 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Kuwait ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%).

Source: IndexBox Platform

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