Mexico: Market for Liquefied Petroleum Gas (LPG) 2025

Market Size for Liquefied Petroleum Gas (LPG) in Mexico

In 2022, the Mexican liquefied petroleum gas (LPG) market increased by 1.5% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, continues to indicate resilient growth. Liquefied petroleum gas (LPG) consumption peaked in 2022 and is likely to see steady growth in the near future.

Exports of Liquefied Petroleum Gas (LPG)

Exports from Mexico

Liquefied petroleum gas (LPG) exports from Mexico shrank to X tons in 2022, which is down by -10.3% against 2021 figures. Over the period under review, exports showed a noticeable curtailment. The pace of growth was the most pronounced in 2016 when exports increased by 137%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, liquefied petroleum gas (LPG) exports reduced rapidly to $X in 2022. Overall, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 when exports increased by 95%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Morocco (X tons), the United States (X tons) and France (X tons) were the main destinations of liquefied petroleum gas (LPG) exports from Mexico, together accounting for 98% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +27.7%), while the other leaders experienced mixed trend patterns.

In value terms, Morocco ($X), the United States ($X) and France ($X) constituted the largest markets for liquefied petroleum gas (LPG) exported from Mexico worldwide, with a combined 93% share of total exports.

France, with a CAGR of +21.6%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average liquefied petroleum gas (LPG) export price amounted to $X per ton, declining by -7.7% against the previous year. In general, the export price showed a deep downturn. The growth pace was the most rapid in 2017 when the average export price increased by 50% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Belize ($X per ton), while the average price for exports to France ($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 Morocco (-0.6%), while the prices for the other major destinations experienced a decline.

Imports of Liquefied Petroleum Gas (LPG)

Imports into Mexico

In 2022, the amount of liquefied petroleum gas (LPG) imported into Mexico reduced slightly to X tons, declining by -2.8% compared with the previous year. Over the period under review, imports, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2021 when imports increased by 127%. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, liquefied petroleum gas (LPG) imports rose significantly to $X in 2022. In general, imports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 55% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the United States (X tons) was the main liquefied petroleum gas (LPG) supplier to Mexico, accounting for a 91% share of total imports. Moreover, liquefied petroleum gas (LPG) imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X tons), more than tenfold. The third position in this ranking was held by Nigeria (X tons), with a 2.3% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+31.0% per year) and Nigeria (+3.0% per year).

In value terms, the United States ($X) constituted the largest supplier of liquefied petroleum gas (LPG) to Mexico, comprising 86% of total imports. The second position in the ranking was held by Norway ($X), with a 5.5% share of total imports. It was followed by Canada, with a 4.4% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+8.1% per year) and Canada (+26.5% per year).

Import Prices by Country

The average liquefied petroleum gas (LPG) import price stood at $X per ton in 2022, picking up by 8.4% against the previous year. In general, the import price, however, saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 76% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 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 Norway ($X per ton), while the price for Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+11.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform