Scandinavia: Market for Liquefied Petroleum Gas (LPG) 2025

Market Size for Liquefied Petroleum Gas (LPG) in Scandinavia

In 2022, the Scandinavia liquefied petroleum gas (LPG) market increased by 12% to $X, rising for the fifth consecutive year after two years of decline. Overall, consumption enjoyed a prominent expansion. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Production of Liquefied Petroleum Gas (LPG) in Scandinavia

In value terms, liquefied petroleum gas (LPG) production dropped to $X in 2022 estimated in export price. Over the period under review, production recorded a perceptible reduction. The most prominent rate of growth was recorded in 2021 with an increase of 32%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Liquefied Petroleum Gas (LPG)

Exports in Scandinavia

In 2022, approx. X tons of liquefied petroleum gas (LPG) were exported in Scandinavia; reducing by -10.9% compared with the year before. In general, exports continue to indicate a perceptible descent. The growth pace was the most rapid in 2017 with an increase of 24% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, liquefied petroleum gas (LPG) exports rose markedly to $X in 2022. Over the period under review, exports showed a noticeable shrinkage. The growth pace was the most rapid in 2021 when exports increased by 84% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Norway (X tons) was the largest exporter of liquefied petroleum gas (LPG), constituting 78% of total exports. It was distantly followed by Sweden (X tons), achieving a 22% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to liquefied petroleum gas (LPG) exports from Norway stood at -3.3%. At the same time, Sweden (+5.7%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +5.7% from 2012-2022. Sweden (+12 p.p.) significantly strengthened its position in terms of the total exports, while Norway saw its share reduced by -11.1% from 2012 to 2022, respectively.

In value terms, Norway ($X) remains the largest liquefied petroleum gas (LPG) supplier in Scandinavia, comprising 77% of total exports. The second position in the ranking was held by Sweden ($X), with a 23% share of total exports.

In Norway, liquefied petroleum gas (LPG) exports contracted by an average annual rate of -5.3% over the period from 2012-2022.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2022, increasing by 21% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable contraction. The pace of growth was the most pronounced in 2021 when the export price increased by 55%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Norway totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (-2.1%).

Imports of Liquefied Petroleum Gas (LPG)

Imports in Scandinavia

In 2022, approx. X tons of liquefied petroleum gas (LPG) were imported in Scandinavia; falling by -9.5% compared with 2021 figures. Total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +3.0% 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 +45.2% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 60%. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, liquefied petroleum gas (LPG) imports soared to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 92% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

Sweden was the main importing country with an import of about X tons, which accounted for 67% of total imports. It was distantly followed by Finland (X tons) and Norway (X tons), together committing a 33% share of total imports.

Sweden was also the fastest-growing in terms of the liquefied petroleum gas (LPG) imports, with a CAGR of +4.9% from 2012 to 2022. At the same time, Finland (+1.6%) displayed positive paces of growth. By contrast, Norway (-1.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Sweden increased by +11 percentage points.

In value terms, Sweden ($X) constitutes the largest market for imported liquefied petroleum gas (LPG) in Scandinavia, comprising 70% of total imports. The second position in the ranking was held by Finland ($X), with a 23% share of total imports.

In Sweden, liquefied petroleum gas (LPG) imports increased at an average annual rate of +2.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Finland (-0.1% per year) and Norway (-9.8% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, picking up by 52% against the previous year. In general, the import price, however, recorded a noticeable decline. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Finland ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (-1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform