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

Market Size for Liquefied Petroleum Gas (LPG) in Eastern Europe

The East European liquefied petroleum gas (LPG) market expanded modestly to $X in 2023, growing by X% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X; afterwards, it flattened through to 2023.

Production of Liquefied Petroleum Gas (LPG) in Eastern Europe

In value terms, liquefied petroleum gas (LPG) production stood at $X in 2023 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced 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 2023, production stood at a somewhat lower figure.

Exports of Liquefied Petroleum Gas (LPG)

Exports in Eastern Europe

In 2023, shipments abroad of liquefied petroleum gas (LPG) decreased by X% to X tons, falling for the fifth year in a row after seven years of growth. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

In value terms, liquefied petroleum gas (LPG) exports shrank notably to $X in 2023. Over the period under review, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

Exports by Country

Russia was the key exporting country with an export of around X tons, which accounted for X% of total exports. Poland (X tons) ranks second in terms of the total exports with a X% share, followed by Belarus (X%), Latvia (X%) and Romania (X%). The following exporters - Lithuania (X tons) and the Czech Republic (X tons) - each recorded an X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to liquefied petroleum gas (LPG) exports from Russia stood at X%. At the same time, Latvia (X%) and Poland (X%) displayed positive paces of growth. Moreover, Latvia emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of X% from 2012-2023. Lithuania experienced a relatively flat trend pattern. By contrast, Belarus (X%), the Czech Republic (X%) and Romania (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Poland and Latvia increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest liquefied petroleum gas (LPG) supplier in Eastern Europe, comprising X% of total exports. The second position in the ranking was held by Poland ($X), with a X% share of total exports. It was followed by Belarus, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Russia stood at X%. In the other countries, the average annual rates were as follows: Poland (X% per year) and Belarus (X% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2023, leveling off at the previous year. In general, the export price recorded a perceptible decrease. The pace of growth appeared the most rapid in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while Latvia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Lithuania (X%), while the other leaders experienced a decline in the export price figures.

Imports of Liquefied Petroleum Gas (LPG)

Imports in Eastern Europe

In 2023, imports of liquefied petroleum gas (LPG) in Eastern Europe shrank to X tons, reducing by X% compared with the previous year. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2023, the growth of imports failed to regain momentum.

In value terms, liquefied petroleum gas (LPG) imports shrank notably to $X in 2023. In general, imports recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of import peaked at $X in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Poland (X tons) and Ukraine (X tons) represented the major importers of liquefied petroleum gas (LPG) in Eastern Europe, together reaching near X% of total imports. It was distantly followed by Bulgaria (X tons), Belarus (X tons), Latvia (X tons) and Hungary (X tons), together making up a X% share of total imports. The Czech Republic (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Czech Republic (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) importing markets in Eastern Europe were Poland ($X), Ukraine ($X) and Bulgaria ($X), with a combined X% share of total imports.

Ukraine, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2023, the import price in Eastern Europe amounted to $X per ton, declining by X% against the previous year. In general, the import price showed a noticeable decline. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Hungary ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ukraine (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform