Australia: Market for Liquefied Petroleum Gas (LPG) 2025

Market Size for Liquefied Petroleum Gas (LPG) in Australia

The Australian liquefied petroleum gas (LPG) market reduced remarkably to $X in 2022, waning by -95.4% against the previous year. Overall, consumption faced a precipitous shrinkage. Liquefied petroleum gas (LPG) consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Liquefied Petroleum Gas (LPG) in Australia

In value terms, liquefied petroleum gas (LPG) production shrank to $X in 2022 estimated in export price. Over the period under review, production showed a pronounced shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 20% against the previous year. Liquefied petroleum gas (LPG) production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Liquefied Petroleum Gas (LPG)

Exports from Australia

In 2022, overseas shipments of liquefied petroleum gas (LPG) increased by 12% to X tons, rising for the third year in a row after three years of decline. Overall, exports showed resilient growth. The growth pace was the most rapid in 2020 when exports increased by 223%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, liquefied petroleum gas (LPG) exports surged to $X in 2022. In general, exports showed a measured increase. The pace of growth appeared the most rapid in 2020 with an increase of 177% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Japan (X tons) was the main destination for liquefied petroleum gas (LPG) exports from Australia, with a 15% share of total exports. Moreover, liquefied petroleum gas (LPG) exports to Japan exceeded the volume sent to the second major destination, China (X tons), twofold. The third position in this ranking was held by Indonesia (X tons), with a 2.1% share.

From 2012 to 2022, the average annual growth rate of volume to Japan amounted to -6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+11.4% per year) and Indonesia (+15.1% per year).

In value terms, the largest markets for liquefied petroleum gas (LPG) exported from Australia were Japan ($X), China ($X) and Indonesia ($X), with a combined 22% share of total exports. New Zealand, the Philippines, South Korea, Singapore, Thailand, Vietnam and Fiji lagged somewhat behind, together comprising a further 3.7%.

The Philippines, with a CAGR of +25.8%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average liquefied petroleum gas (LPG) export price stood at $X per ton in 2022, with an increase of 3.7% against the previous year. Over the period under review, the export price, however, saw a pronounced decrease. The growth pace was the most rapid in 2021 an increase of 31% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Fiji ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (-0.1%), while the prices for the other major destinations experienced a decline.

Imports of Liquefied Petroleum Gas (LPG)

Imports into Australia

In 2022, after two years of growth, there was significant decline in supplies from abroad of liquefied petroleum gas (LPG), when their volume decreased by -65.8% to X tons. In general, imports, however, recorded a perceptible increase. The pace of growth appeared the most rapid in 2021 when imports increased by 158%. As a result, imports attained the peak of X tons, and then fell markedly in the following year.

In value terms, liquefied petroleum gas (LPG) imports rose significantly to $X in 2022. Overall, imports recorded a noticeable decline. The pace of growth was the most pronounced in 2021 with an increase of 53% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of liquefied petroleum gas (LPG) to Australia, with a 65% share of total imports. Moreover, liquefied petroleum gas (LPG) imports from the United States exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fivefold. The third position in this ranking was held by Qatar (X tons), with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at +23.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-2.8% per year) and Qatar (-14.2% per year).

In value terms, the United States ($X) constituted the largest supplier of liquefied petroleum gas (LPG) to Australia, comprising 55% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 17% share of total imports. It was followed by the Philippines, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +18.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Kuwait (+5.0% per year) and the Philippines (+22.6% per year).

Import Prices by Country

In 2022, the average liquefied petroleum gas (LPG) import price amounted to $X per ton, increasing by 215% against the previous year. In general, the import price, however, continues to indicate a abrupt decrease. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Kuwait ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+13.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform