Eastern Asia: Market for Liquefied Petroleum Gas (LPG) 2024

Exports of Liquefied Petroleum Gas (LPG)

Exports in Eastern Asia

In 2022, shipments abroad of liquefied petroleum gas (LPG) decreased by X% to X tons, falling for the third consecutive year after four years of growth. Over the period under review, exports continue to indicate a slight decline. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, liquefied petroleum gas (LPG) exports contracted slightly to $X in 2022. In general, exports continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China was the key exporter of liquefied petroleum gas (LPG) in Eastern Asia, with the volume of exports reaching X tons, which was approx. X% of total exports in 2022. South Korea (X tons) held the second position in the ranking, distantly followed by Japan (X tons). All these countries together took approx. X% share of total exports. Taiwan (Chinese) (X tons) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest liquefied petroleum gas (LPG) supplying countries in Eastern Asia were China ($X), South Korea ($X) and Japan ($X), together accounting for X% of total exports.

Japan, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, saw a noticeable contraction. The pace of growth was the most pronounced in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in China ($X per ton) and South Korea ($X per ton), while Japan ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

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

Imports of Liquefied Petroleum Gas (LPG)

Imports in Eastern Asia

Liquefied petroleum gas (LPG) imports rose sharply to X tons in 2022, surging by X% on 2021. Total imports indicated a resilient 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, imports increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, liquefied petroleum gas (LPG) imports soared to $X in 2022. Overall, imports enjoyed noticeable growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) was the largest importer of liquefied petroleum gas (LPG), constituting X% of total imports. It was distantly followed by Japan (X tons) and South Korea (X tons), together committing a X% share of total imports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China 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, Taiwan (Chinese) (X%) and South Korea (X%) displayed positive paces of growth. By contrast, Japan (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Korea (X p.p.) and Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported liquefied petroleum gas (LPG) in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the import price, however, showed a perceptible contraction. The pace of growth was the most pronounced in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

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Source: IndexBox Platform

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