Portugal: Market for Liquefied Petroleum Gas (LPG) 2025

Market Size for Liquefied Petroleum Gas (LPG) in Portugal

For the fourth consecutive year, the Portuguese liquefied petroleum gas (LPG) market recorded growth in sales value, which increased by 11% to $X in 2022. Overall, consumption, however, continues to indicate a remarkable increase. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Liquefied Petroleum Gas (LPG)

Exports from Portugal

In 2022, shipments abroad of liquefied petroleum gas (LPG) was finally on the rise to reach X tons after two years of decline. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 38% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, liquefied petroleum gas (LPG) exports surged to $X in 2022. In general, exports continue to indicate modest growth. The growth pace was the most rapid in 2021 when exports increased by 49% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

The Netherlands (X tons), Spain (X tons) and Belgium (X tons) were the main destinations of liquefied petroleum gas (LPG) exports from Portugal, together accounting for 78% of total exports. Morocco, Senegal, Poland, Cameroon and Tunisia lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +258.1%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Spain ($X) and Belgium ($X) appeared to be the largest markets for liquefied petroleum gas (LPG) exported from Portugal worldwide, together comprising 84% of total exports. Morocco, Poland, Tunisia, Cameroon and Senegal lagged somewhat behind, together comprising a further 13%.

Poland, with a CAGR of +152.7%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 9.8% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 53% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Senegal ($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 Tunisia (+11.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Liquefied Petroleum Gas (LPG)

Imports into Portugal

In 2022, purchases abroad of liquefied petroleum gas (LPG) increased by 2.1% to X tons, rising for the fourth consecutive year after four years of decline. Overall, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +31.3% against 2018 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 39%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, liquefied petroleum gas (LPG) imports surged to $X in 2022. Over the period under review, imports recorded a noticeable expansion. The growth pace was the most rapid in 2021 when imports increased by 78% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest liquefied petroleum gas (LPG) supplier to Portugal, accounting for a 54% share of total imports. Moreover, liquefied petroleum gas (LPG) imports from the United States exceeded the figures recorded by the second-largest supplier, Spain (X tons), fourfold. The UK (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +41.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+9.7% per year) and the UK (-6.3% per year).

In value terms, the United States ($X) constituted the largest supplier of liquefied petroleum gas (LPG) to Portugal, comprising 52% of total imports. The second position in the ranking was held by Spain ($X), with a 15% share of total imports. It was followed by the UK, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +36.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+7.9% per year) and the UK (-7.9% per year).

Import Prices by Country

In 2022, the average liquefied petroleum gas (LPG) import price amounted to $X per ton, surging by 22% against the previous year. In general, the import price, however, showed a noticeable descent. The pace of growth was the most pronounced in 2021 an increase of 65%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Spain ($X per ton) and Norway ($X per ton), while the price for Algeria ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Algeria (-1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform