GCC: Market for Liquefied Petroleum Gas (LPG) 2025

Market Size for Liquefied Petroleum Gas (LPG) in GCC

The GCC liquefied petroleum gas (LPG) market skyrocketed to $X in 2022, rising by 15% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Liquefied Petroleum Gas (LPG) in GCC

In value terms, liquefied petroleum gas (LPG) production shrank rapidly to $X in 2022 estimated in export price. Overall, production showed a drastic downturn. The pace of growth was the most pronounced in 2017 with an increase of 19% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Exports of Liquefied Petroleum Gas (LPG)

Exports in GCC

Liquefied petroleum gas (LPG) exports plummeted to X tons in 2022, waning by -44.5% compared with 2021 figures. Over the period under review, exports, however, posted a resilient expansion. The pace of growth was the most pronounced in 2021 when exports increased by 614% against the previous year. As a result, the exports attained the peak of X tons, and then shrank notably in the following year.

In value terms, liquefied petroleum gas (LPG) exports dropped significantly to $X in 2022. In general, exports, however, continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2021 with an increase of 726%. As a result, the exports reached the peak of $X, and then declined dramatically in the following year.

Exports by Country

Qatar was the key exporter of liquefied petroleum gas (LPG) in GCC, with the volume of exports resulting at X tons, which was approx. 58% of total exports in 2022. The United Arab Emirates (X tons) held the second position in the ranking, distantly followed by Saudi Arabia (X tons) and Kuwait (X tons). All these countries together took near 41% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +12.0%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Qatar ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for 91% of total exports.

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of +6.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, remaining stable against the previous year. Overall, the export price continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2017 when the export price increased by 34%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Saudi Arabia ($X per ton) and the United Arab Emirates ($X per ton), while Kuwait ($X per ton) and Qatar ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-3.9%), while the other leaders experienced a decline in the export price figures.

Imports of Liquefied Petroleum Gas (LPG)

Imports in GCC

In 2022, after six years of decline, there was significant growth in supplies from abroad of liquefied petroleum gas (LPG), when their volume increased by 4,155% to X tons. In general, imports saw a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, liquefied petroleum gas (LPG) imports surged to $X in 2022. Over the period under review, imports showed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Kuwait prevails in imports structure, resulting at X tons, which was approx. 95% of total imports in 2022. It was distantly followed by the United Arab Emirates (X tons), constituting a 4.7% share of total imports.

Kuwait was also the fastest-growing in terms of the liquefied petroleum gas (LPG) imports, with a CAGR of +197.5% from 2012 to 2022. At the same time, the United Arab Emirates (+1.8%) displayed positive paces of growth. From 2012 to 2022, the share of Kuwait increased by +94 percentage points.

In value terms, Kuwait ($X) constitutes the largest market for imported liquefied petroleum gas (LPG) in GCC, comprising 97% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 1.4% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Kuwait totaled +161.5%.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, waning by -9.4% against the previous year. Over the period under review, the import price continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2019 an increase of 77%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, 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 Kuwait ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (-12.1%).

Source: IndexBox Platform