Western Africa: Market for Liquefied Petroleum Gas (LPG) 2024

Market Size for Liquefied Petroleum Gas (LPG) in Western Africa

In 2023, the West African liquefied petroleum gas (LPG) market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. In general, consumption saw a slight decline. 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 Western Africa

In value terms, liquefied petroleum gas (LPG) production shrank to $X in 2023 estimated in export price. Over the period under review, production showed a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Exports of Liquefied Petroleum Gas (LPG)

Exports in Western Africa

In 2023, shipments abroad of liquefied petroleum gas (LPG) increased by X% to X tons for the first time since 2019, thus ending a three-year declining trend. In general, exports, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

In value terms, liquefied petroleum gas (LPG) exports declined to $X in 2023. Over the period under review, exports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Nigeria dominates exports structure, accounting for X tons, which was near X% of total exports in 2023. Togo (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to liquefied petroleum gas (LPG) exports from Nigeria stood at X%. At the same time, Togo (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Togo increased by X percentage points.

In value terms, Nigeria ($X) remains the largest liquefied petroleum gas (LPG) supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Togo ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Nigeria amounted to X%.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2023, shrinking by X% against the previous year. Over the period under review, the export price recorded a drastic downturn. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Togo ($X per ton), while Nigeria amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Togo (X%).

Imports of Liquefied Petroleum Gas (LPG)

Imports in Western Africa

In 2023, supplies from abroad of liquefied petroleum gas (LPG) decreased by X% to X tons for the first time since 2011, thus ending a eleven-year rising trend. In general, imports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2022 when imports increased by X%. As a result, imports reached the peak of X tons, and then contracted in the following year.

In value terms, liquefied petroleum gas (LPG) imports amounted to $X in 2023. Overall, imports, however, posted a buoyant increase. The growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports reached the peak figure in 2023 and are likely to see steady growth in years to come.

Imports by Country

Cote d'Ivoire represented the main importer of liquefied petroleum gas (LPG) in Western Africa, with the volume of imports reaching X tons, which was approx. X% of total imports in 2023. Nigeria (X tons) ranks second in terms of the total imports with an X% share, followed by Senegal (X%) and Burkina Faso (X%). Ghana (X tons), Togo (X tons) and Mauritania (X tons) held a minor share of total imports.

From 2012 to 2023, average annual rates of growth with regard to liquefied petroleum gas (LPG) imports into Cote d'Ivoire stood at X%. At the same time, Nigeria (X%), Togo (X%), Burkina Faso (X%), Mauritania (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. Ghana experienced a relatively flat trend pattern. While the share of Cote d'Ivoire (X p.p.) and Nigeria (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Ghana (X p.p.) and Senegal (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported liquefied petroleum gas (LPG) in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Senegal ($X), with a X% share of total imports. It was followed by Nigeria, with a X% share.

In Cote d'Ivoire, liquefied petroleum gas (LPG) imports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Nigeria (X% per year).

Import Prices by Country

In 2023, the import price in Western Africa amounted to $X per ton, growing by X% against the previous year. Overall, the import price, however, showed a slight descent. The pace of growth was the most pronounced in 2017 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 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 Ghana ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform