Europe: Market for Liquefied Petroleum Gas (LPG) 2024

Market Size for Liquefied Petroleum Gas (LPG) in Europe

In 2023, the Europe liquefied petroleum gas (LPG) market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Production of Liquefied Petroleum Gas (LPG) in Europe

In value terms, liquefied petroleum gas (LPG) production fell to $X in 2023 estimated in export price. Over the period under review, production, however, saw a slight setback. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Exports of Liquefied Petroleum Gas (LPG)

Exports in Europe

In 2023, approx. X tons of liquefied petroleum gas (LPG) were exported in Europe; which is down by X% on 2022 figures. In general, exports showed a mild shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, liquefied petroleum gas (LPG) exports shrank rapidly to $X in 2023. Over the period under review, exports saw a abrupt setback. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, Norway (X tons), distantly followed by the UK (X tons), Russia (X tons), the Netherlands (X tons), Belgium (X tons) and Sweden (X tons) represented the key exporters of liquefied petroleum gas (LPG), together constituting X% of total exports. France (X tons), Spain (X tons), Poland (X tons), Belarus (X tons), Latvia (X tons) and Germany (X tons) followed a long way behind the leaders.

Exports from Norway decreased at an average annual rate of X% from 2012 to 2023. At the same time, Latvia (X%), Poland (X%), Spain (X%), Sweden (X%) and Belgium (X%) displayed positive paces of growth. Moreover, Latvia emerged as the fastest-growing exporter exported in Europe, with a CAGR of X% from 2012-2023. By contrast, the Netherlands (X%), the UK (X%), Belarus (X%), Russia (X%), Germany (X%) and France (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Belgium, Spain, Poland, Sweden and Latvia increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest liquefied petroleum gas (LPG) supplying countries in Europe were Norway ($X), the Netherlands ($X) and the UK ($X), together comprising X% of total exports. Russia, Belgium, Sweden, France, Spain, Poland, Germany, Belarus and Latvia lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Europe stood at $X per ton in 2023, shrinking by X% against the previous year. Over the period under review, the export price saw a perceptible descent. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

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 Germany ($X per ton), while Latvia ($X per ton) was amongst the lowest.

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

Imports of Liquefied Petroleum Gas (LPG)

Imports in Europe

After two years of growth, overseas purchases of liquefied petroleum gas (LPG) decreased by X% to X tons in 2023. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2022, and then shrank in the following year.

In value terms, liquefied petroleum gas (LPG) imports declined sharply to $X in 2023. Over the period under review, imports continue to indicate a noticeable slump. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, the Netherlands (X tons), Belgium (X tons), France (X tons), Italy (X tons), Germany (X tons), Spain (X tons), Sweden (X tons), Poland (X tons), Ukraine (X tons) and the UK (X tons) represented the major importer of liquefied petroleum gas (LPG) in Europe, creating X% of total import.

From 2012 to 2023, the biggest increases were recorded for Ukraine (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Belgium ($X) and France ($X) appeared to be the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Italy, Germany, Spain, Poland, Sweden, the UK and Ukraine lagged somewhat behind, together comprising a further X%.

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 more modest paces of growth.

Import Prices by Country

In 2023, the import price in Europe amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the import price continues to indicate a pronounced curtailment. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Germany ($X per ton) and the UK ($X per ton), while France ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform