South-Eastern Asia: Market for Liquefied Petroleum Gas (LPG) 2025

Market Size for Liquefied Petroleum Gas (LPG) in South-Eastern Asia

In 2022, the Southeast Asian liquefied petroleum gas (LPG) market increased by 27% to $X, rising for the second year in a row after two years of decline. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +66.0% against 2020 indices. Over the period under review, the market reached the maximum level in 2022 and is likely to see steady growth in the near future.

Production of Liquefied Petroleum Gas (LPG) in South-Eastern Asia

In value terms, liquefied petroleum gas (LPG) production reduced notably to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a mild contraction. The pace of growth was the most pronounced in 2021 when the production volume increased by 62%. As a result, production attained the peak level of $X, and then declined rapidly in the following year.

Exports of Liquefied Petroleum Gas (LPG)

Exports in South-Eastern Asia

In 2022, approx. X tons of liquefied petroleum gas (LPG) were exported in South-Eastern Asia; approximately reflecting the year before. The total export volume increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 24% against the previous year. As a result, the exports reached the peak of X tons, leveling off in the following year.

In value terms, liquefied petroleum gas (LPG) exports rose slightly to $X in 2022. Overall, exports continue to indicate a mild reduction. The pace of growth appeared the most rapid in 2021 when exports increased by 65% 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 failed to regain momentum.

Exports by Country

Malaysia (X tons), Singapore (X tons) and Brunei Darussalam (X tons) represented roughly 72% of total exports in 2022. Thailand (X tons) ranks next in terms of the total exports with an 11% share, followed by Indonesia (8.5%) and Vietnam (6%). Timor-Leste (X tons) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Brunei Darussalam (with a CAGR of +515.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest liquefied petroleum gas (LPG) supplying countries in South-Eastern Asia were Singapore ($X), Brunei Darussalam ($X) and Malaysia ($X), with a combined 77% share of total exports.

Among the main exporting countries, Brunei Darussalam, with a CAGR of +350.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, growing by 5.1% against the previous year. In general, the export price, however, continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2021 an increase of 33%. The level of export peaked at $X per ton in 2012; however, from 2013 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 Singapore ($X per ton), while Timor-Leste ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (-1.1%), while the other leaders experienced a decline in the export price figures.

Imports of Liquefied Petroleum Gas (LPG)

Imports in South-Eastern Asia

In 2022, the amount of liquefied petroleum gas (LPG) imported in South-Eastern Asia totaled X tons, with an increase of 13% on the previous year's figure. Total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +7.1% 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 +45.0% against 2014 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 20% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in the near future.

In value terms, liquefied petroleum gas (LPG) imports soared to $X in 2022. In general, imports showed noticeable growth. The most prominent rate of growth was recorded in 2021 when imports increased by 52%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

In 2022, Indonesia (X tons) represented the largest importer of liquefied petroleum gas (LPG), comprising 57% of total imports. The Philippines (X tons) held the second position in the ranking, followed by Vietnam (X tons) and Thailand (X tons). All these countries together took near 37% share of total imports. Malaysia (X tons) took a little share of total imports.

Imports into Indonesia increased at an average annual rate of +8.6% from 2012 to 2022. At the same time, the Philippines (+10.0%), Vietnam (+9.2%) and Malaysia (+6.4%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +10.0% from 2012-2022. Thailand experienced a relatively flat trend pattern. Indonesia (+7.1 p.p.), the Philippines (+2.9 p.p.) and Vietnam (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while Thailand saw its share reduced by -11.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported liquefied petroleum gas (LPG) in South-Eastern Asia, comprising 62% of total imports. The second position in the ranking was held by the Philippines ($X), with a 13% share of total imports. It was followed by Thailand, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Indonesia amounted to +7.4%. The remaining importing countries recorded the following average annual rates of imports growth: the Philippines (+8.1% per year) and Thailand (-2.1% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, with an increase of 26% against the previous year. In general, the import price, however, showed a noticeable curtailment. The pace of growth appeared the most rapid in 2021 an increase of 43%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (-1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform