Northern America: Market for Liquefied Petroleum Gas (LPG) 2025

Market Size for Liquefied Petroleum Gas (LPG) in Northern America

In 2022, after three years of decline, there was significant growth in the North American liquefied petroleum gas (LPG) market, when its value increased by 503% to $X. Over the period under review, consumption, however, recorded a abrupt setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Liquefied Petroleum Gas (LPG) in Northern America

In value terms, liquefied petroleum gas (LPG) production expanded rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 23% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Liquefied Petroleum Gas (LPG)

Exports in Northern America

After six years of growth, shipments abroad of liquefied petroleum gas (LPG) decreased by -26.5% to X tons in 2022. Over the period under review, exports, however, saw a resilient increase. The growth pace was the most rapid in 2021 with an increase of 114%. As a result, the exports attained the peak of X tons, and then declined markedly in the following year.

In value terms, liquefied petroleum gas (LPG) exports soared to $X in 2022. In general, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2021 with an increase of 77% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

Exports by Country

The United States represented the major exporter of liquefied petroleum gas (LPG) in Northern America, with the volume of exports finishing at X tons, which was near 79% of total exports in 2022. It was distantly followed by Canada (X tons), making up a 21% share of total exports.

The United States was also the fastest-growing in terms of the liquefied petroleum gas (LPG) exports, with a CAGR of +19.7% from 2012 to 2022. At the same time, Canada (+10.5%) displayed positive paces of growth. The United States (+16 p.p.) significantly strengthened its position in terms of the total exports, while Canada saw its share reduced by -15.9% from 2012 to 2022, respectively.

In value terms, the United States ($X) remains the largest liquefied petroleum gas (LPG) supplier in Northern America, comprising 86% of total exports. The second position in the ranking was held by Canada ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +24.6%.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, picking up by 63% against the previous year. Export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.2%).

Imports of Liquefied Petroleum Gas (LPG)

Imports in Northern America

Liquefied petroleum gas (LPG) imports contracted to X tons in 2022, waning by -9.9% compared with the year before. In general, imports saw a deep downturn. The pace of growth appeared the most rapid in 2014 when imports increased by 48% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, liquefied petroleum gas (LPG) imports surged to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 81% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) represented the key importer of liquefied petroleum gas (LPG), making up 77% of total imports. It was distantly followed by Canada (X tons), creating a 22% share of total imports.

Imports into the United States decreased at an average annual rate of -11.3% from 2012 to 2022. At the same time, Canada (+1.0%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +1.0% from 2012-2022. From 2012 to 2022, the share of Canada increased by +15 percentage points.

In value terms, the United States ($X) constitutes the largest market for imported liquefied petroleum gas (LPG) in Northern America, comprising 94% of total imports. The second position in the ranking was taken by Canada ($X), with a 5.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States was relatively modest.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, rising by 30% against the previous year. Overall, the import price continues to indicate a remarkable increase. The pace of growth was the most pronounced in 2021 an increase of 73%. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+13.5%).

Source: IndexBox Platform