Latin America and the Caribbean: Market for Liquefied Petroleum Gas (LPG) 2024

Market Size for Liquefied Petroleum Gas (LPG) in Latin America and the Caribbean

The Latin American liquefied petroleum gas (LPG) market fell to $X in 2023, dropping by X% against the previous year. Overall, consumption saw a abrupt slump. As a result, consumption attained the peak level of $X. From 2014 to 2023, the growth of the market remained at a somewhat lower figure.

Production of Liquefied Petroleum Gas (LPG) in Latin America and the Caribbean

In value terms, liquefied petroleum gas (LPG) production fell to $X in 2023 estimated in export price. In general, production, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, production reached the peak level of $X. From 2014 to 2023, production growth remained at a somewhat lower figure.

Exports of Liquefied Petroleum Gas (LPG)

Exports in Latin America and the Caribbean

In 2023, shipments abroad of liquefied petroleum gas (LPG) decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. In general, exports recorded a perceptible descent. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, liquefied petroleum gas (LPG) exports declined significantly to $X in 2023. Over the period under review, exports showed a deep slump. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Argentina (X tons) was the major exporter of liquefied petroleum gas (LPG), committing X% of total exports. It was distantly followed by Guatemala (X tons), Trinidad and Tobago (X tons) and Bolivia (X tons), together generating a X% share of total exports. El Salvador (X tons), Peru (X tons), the Dominican Republic (X tons), Honduras (X tons), Chile (X tons) and Mexico (X tons) held a relatively small share of total exports.

From 2012 to 2023, average annual rates of growth with regard to liquefied petroleum gas (LPG) exports from Argentina stood at X%. At the same time, El Salvador (X%), the Dominican Republic (X%), Bolivia (X%), Guatemala (X%), Chile (X%) and Peru (X%) displayed positive paces of growth. Moreover, El Salvador emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. By contrast, Mexico (X%), Trinidad and Tobago (X%) and Honduras (X%) illustrated a downward trend over the same period. Argentina (X p.p.), Guatemala (X p.p.), Bolivia (X p.p.), El Salvador (X p.p.), the Dominican Republic (X p.p.) and Peru (X p.p.) significantly strengthened its position in terms of the total exports, while Mexico, Honduras and Trinidad and Tobago saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X) remains the largest liquefied petroleum gas (LPG) supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Trinidad and Tobago ($X), with a X% share of total exports. It was followed by El Salvador, with a X% share.

In Argentina, liquefied petroleum gas (LPG) exports declined by an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Trinidad and Tobago (X% per year) and El Salvador (X% per year).

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price saw a noticeable decrease. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2014; however, from 2015 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 Chile ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

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

Imports of Liquefied Petroleum Gas (LPG)

Imports in Latin America and the Caribbean

In 2023, after two years of growth, there was significant decline in overseas purchases of liquefied petroleum gas (LPG), when their volume decreased by X% to X tons. Total imports indicated a moderate increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2022 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, and then dropped in the following year.

In value terms, liquefied petroleum gas (LPG) imports shrank significantly to $X in 2023. Total imports indicated a tangible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2022, and then contracted markedly in the following year.

Imports by Country

In 2023, Mexico (X tons) represented the largest importer of liquefied petroleum gas (LPG), constituting X% of total imports. It was distantly followed by Brazil (X tons), Chile (X tons) and Ecuador (X tons), together making up a X% share of total imports. The Dominican Republic (X tons), El Salvador (X tons), Guatemala (X tons) and Panama (X tons) followed a long way behind the leaders.

Imports into Mexico increased at an average annual rate of X% from 2012 to 2023. At the same time, El Salvador (X%), Panama (X%), Guatemala (X%), Chile (X%) and Brazil (X%) displayed positive paces of growth. Moreover, El Salvador emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. The Dominican Republic experienced a relatively flat trend pattern. By contrast, Ecuador (X%) illustrated a downward trend over the same period. While the share of Mexico (X p.p.) and El Salvador (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Chile (X p.p.), the Dominican Republic (X p.p.), Brazil (X p.p.) and Ecuador (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported liquefied petroleum gas (LPG) in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with a X% share of total imports. It was followed by Ecuador, with a X% share.

In Mexico, liquefied petroleum gas (LPG) imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Ecuador (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2023, falling by X% against the previous year. Over the period under review, the import price recorded a noticeable descent. The pace of growth was the most pronounced in 2017 an increase of X%. The level of import peaked at $X per ton in 2021; however, from 2022 to 2023, 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 Ecuador ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ecuador (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform