South-Eastern Asia: Market for Liquefied Petroleum Gas (LPG) 2024

Market Size for Liquefied Petroleum Gas (LPG) in South-Eastern Asia

In 2023, after two years of growth, there was significant decline in the Southeast Asian liquefied petroleum gas (LPG) market, when its value decreased by X% to $X. Overall, consumption, however, continues to indicate a pronounced downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Production of Liquefied Petroleum Gas (LPG) in South-Eastern Asia

In value terms, liquefied petroleum gas (LPG) production declined to $X in 2023 estimated in export price. Over the period under review, production, however, showed a deep reduction. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Exports of Liquefied Petroleum Gas (LPG)

Exports in South-Eastern Asia

In 2023, the amount of liquefied petroleum gas (LPG) exported in South-Eastern Asia rose significantly to X tons, with an increase of X% on 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, liquefied petroleum gas (LPG) exports reduced to $X in 2023. Overall, exports, however, showed a perceptible decline. The most prominent rate of growth was recorded in 2022 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, Indonesia (X tons) represented the main exporter of liquefied petroleum gas (LPG), constituting X% of total exports. Malaysia (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (X%), Thailand (X%) and Vietnam (X%). Timor-Leste (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Timor-Leste (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest liquefied petroleum gas (LPG) supplying countries in South-Eastern Asia were Indonesia ($X), Malaysia ($X) and Singapore ($X), with a combined X% share of total exports. Thailand, Vietnam and Timor-Leste lagged somewhat behind, together comprising a further X%.

Timor-Leste, 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 mixed trends in the exports figures.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2023, declining by X% against the previous year. In general, the export price continues to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in 2022 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 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Vietnam ($X per ton) and Indonesia ($X per ton), while Singapore ($X per ton) and Timor-Leste ($X per ton) were amongst the lowest.

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

Imports of Liquefied Petroleum Gas (LPG)

Imports in South-Eastern Asia

After six years of growth, purchases abroad of liquefied petroleum gas (LPG) decreased by X% to X tons in 2023. Total imports indicated a resilient expansion from 2012 to 2023: its volume 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. Based on 2023 figures, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2022, and then shrank slightly in the following year.

In value terms, liquefied petroleum gas (LPG) imports declined to $X in 2023. Total imports indicated a modest 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. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked at $X in 2022, and then declined in the following year.

Imports by Country

In 2023, Indonesia (X tons) represented the key importer of liquefied petroleum gas (LPG), making up X% of total imports. Vietnam (X tons) took the second position in the ranking, followed by the Philippines (X tons), Thailand (X tons) and Malaysia (X tons). All these countries together held approx. X% share of total imports. The following importers - Cambodia (X tons) and Singapore (X tons) - together made up X% of total imports.

From 2012 to 2023, average annual rates of growth with regard to liquefied petroleum gas (LPG) imports into Indonesia stood at X%. At the same time, Cambodia (X%), Vietnam (X%), Malaysia (X%), Singapore (X%) and the Philippines (X%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Thailand (X%) illustrated a downward trend over the same period. Indonesia (X p.p.), Vietnam (X p.p.) and Cambodia (X p.p.) significantly strengthened its position in terms of the total imports, while Thailand saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported liquefied petroleum gas (LPG) in South-Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total imports. It was followed by the Philippines, with an X% share.

From 2012 to 2023, the average annual growth rate of value in Indonesia amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and the Philippines (X% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2023, dropping by X% against the previous year. Over the period under review, the import price showed a noticeable descent. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices reached the peak figure 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 Malaysia ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform