MENA: Market for Liquefied Petroleum Gas (LPG) 2024

Market Size for Liquefied Petroleum Gas (LPG) in MENA

The MENA's liquefied petroleum gas (LPG) market skyrocketed to $X in 2023, with an increase of X% against the previous year. Over the period under review, consumption continues to indicate a pronounced reduction. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2023, consumption failed to regain momentum.

Production of Liquefied Petroleum Gas (LPG) in MENA

In value terms, liquefied petroleum gas (LPG) production skyrocketed to $X in 2023 estimated in export price. Over the period under review, production saw a noticeable contraction. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X.4B. From 2019 to 2023, production growth remained at a somewhat lower figure.

Exports of Liquefied Petroleum Gas (LPG)

Exports in MENA

Liquefied petroleum gas (LPG) exports surged to X tons in 2023, with an increase of X% against the previous year. Overall, exports showed moderate growth. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, liquefied petroleum gas (LPG) exports skyrocketed to $X in 2023. Over the period under review, exports recorded a temperate increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of export peaked at $X in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, the United Arab Emirates (X tons), distantly followed by Saudi Arabia (X tons), Qatar (X tons), Iran (X tons), Algeria (X tons) and Kuwait (X tons) represented the major exporters of liquefied petroleum gas (LPG), together mixing up X% of total exports. Oman (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Oman (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest liquefied petroleum gas (LPG) supplying countries in MENA were the United Arab Emirates ($X), Saudi Arabia ($X) and Qatar ($X), with a combined X% share of total exports. Algeria, Kuwait, Iran and Oman lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Oman, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in MENA amounted to $X per ton, increasing by X% against the previous year. In general, the export price, however, saw a perceptible decrease. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, the export prices hit record highs 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 Saudi Arabia ($X per ton), while Iran ($X per ton) was amongst the lowest.

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

Imports of Liquefied Petroleum Gas (LPG)

Imports in MENA

In 2023, the amount of liquefied petroleum gas (LPG) imported in MENA fell to X tons, waning by X% on the previous year's figure. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, liquefied petroleum gas (LPG) imports dropped remarkably to $X in 2023. Over the period under review, imports continue to indicate a perceptible slump. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then fell remarkably in the following year.

Imports by Country

Turkey represented the major importer of liquefied petroleum gas (LPG) in MENA, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2023. Egypt (X tons) ranks second in terms of the total imports with a X% share, followed by the United Arab Emirates (X%), Morocco (X%) and Tunisia (X%). The following importers - Lebanon (X tons) and Algeria (X tons) - each amounted to a X% share of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2023. At the same time, the United Arab Emirates (X%), Tunisia (X%) and Lebanon (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2023. By contrast, Morocco (X%), Egypt (X%) and Algeria (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.), Tunisia (X p.p.) and Turkey (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Algeria (X p.p.), Morocco (X p.p.) and Egypt (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported liquefied petroleum gas (LPG) in MENA, comprising X% of total imports. The second position in the ranking was held by Morocco ($X), with an X% share of total imports. It was followed by Egypt, with an X% share.

From 2012 to 2023, the average annual growth rate of value in Turkey totaled X%. In the other countries, the average annual rates were as follows: Morocco (X% per year) and Egypt (X% per year).

Import Prices by Country

In 2023, the import price in MENA amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price showed a noticeable descent. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a 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 Lebanon ($X per ton), while Tunisia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform