Western Africa: Market for Liquefied Petroleum Gas (LPG) 2024

Market Size for Liquefied Petroleum Gas (LPG) in Western Africa

In 2022, after two years of growth, there was significant decline in the West African liquefied petroleum gas (LPG) market, when its value decreased by X% to $X. Over the period under review, consumption, however, enjoyed buoyant growth. The level of consumption peaked at $X in 2021, and then shrank in the following year.

Production of Liquefied Petroleum Gas (LPG) in Western Africa

In value terms, liquefied petroleum gas (LPG) production declined to $X in 2022 estimated in export price. In general, production saw a pronounced shrinkage. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Liquefied Petroleum Gas (LPG)

Exports in Western Africa

In 2022, overseas shipments of liquefied petroleum gas (LPG) increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a noticeable slump. The growth pace was the most rapid in 2015 with an increase of X%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, liquefied petroleum gas (LPG) exports surged to $X in 2022. In general, exports, however, recorded a deep downturn. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Nigeria prevails in exports structure, finishing at X tons, which was near X% of total exports in 2022. It was distantly followed by Togo (X tons), creating an X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to liquefied petroleum gas (LPG) exports from Nigeria stood at X%. At the same time, Togo (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Togo increased by X percentage points.

In value terms, Nigeria ($X) remains the largest liquefied petroleum gas (LPG) supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Togo ($X), with an X% share of total exports.

In Nigeria, liquefied petroleum gas (LPG) exports declined by an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, picking up by X% against the previous year. Overall, the export price, however, saw a abrupt downturn. The pace of growth was the most pronounced in 2018 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 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Togo ($X per ton), while Nigeria stood at $X per ton.

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

Imports of Liquefied Petroleum Gas (LPG)

Imports in Western Africa

Liquefied petroleum gas (LPG) imports reached X tons in 2022, surging by X% compared with 2021. Overall, imports showed a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of X%. The volume of import peaked in 2022 and is likely to continue growth in years to come.

In value terms, liquefied petroleum gas (LPG) imports rose notably to $X in 2022. Over the period under review, imports showed a strong expansion. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

Cote d'Ivoire was the largest importer of liquefied petroleum gas (LPG) in Western Africa, with the volume of imports reaching X tons, which was approx. X% of total imports in 2022. Senegal (X tons) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Togo (X%), Burkina Faso (X%), Mauritania (X%) and Nigeria (X%). Ghana (X tons) held a little share of total imports.

Cote d'Ivoire 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, Togo (X%), Nigeria (X%), Mauritania (X%), Burkina Faso (X%) and Senegal (X%) displayed positive paces of growth. By contrast, Ghana (X%) illustrated a downward trend over the same period. Cote d'Ivoire (X p.p.), Togo (X p.p.) and Nigeria (X p.p.) significantly strengthened its position in terms of the total imports, while Burkina Faso, Ghana and Senegal 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, the largest liquefied petroleum gas (LPG) importing markets in Western Africa were Cote d'Ivoire ($X), Burkina Faso ($X) and Senegal ($X), with a combined X% share of total imports.

Cote d'Ivoire, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, reducing by X% against the previous year. Overall, the import price saw a perceptible reduction. The pace of growth was the most pronounced in 2017 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 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 Nigeria ($X per ton), while Togo ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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