Southern Asia: Market for Liquefied Petroleum Gas (LPG) 2025

Market Size for Liquefied Petroleum Gas (LPG) in Southern Asia

In 2022, the South Asian liquefied petroleum gas (LPG) market increased by 14% to $X, rising for the sixth year in a row after two years of decline. In general, consumption recorded a remarkable increase. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Production of Liquefied Petroleum Gas (LPG) in Southern Asia

In value terms, liquefied petroleum gas (LPG) production rose slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 21%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Liquefied Petroleum Gas (LPG)

Exports in Southern Asia

In 2022, overseas shipments of liquefied petroleum gas (LPG) decreased by -13% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 90% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then reduced in the following year.

In value terms, liquefied petroleum gas (LPG) exports reached $X in 2022. Overall, exports, however, recorded a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of 102%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

India was the main exporting country with an export of about X tons, which resulted at 67% of total exports. Maldives (X tons) ranks second in terms of the total exports with a 20% share, followed by Sri Lanka (12%).

Exports from India increased at an average annual rate of +14.6% from 2012 to 2022. At the same time, Maldives (+26.3%) and Sri Lanka (+15.7%) displayed positive paces of growth. Moreover, Maldives emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +26.3% from 2012-2022. Maldives (+11 p.p.) significantly strengthened its position in terms of the total exports, while India 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, India ($X) remains the largest liquefied petroleum gas (LPG) supplier in Southern Asia, comprising 78% of total exports. The second position in the ranking was taken by Maldives ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in India stood at +10.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Maldives (+21.5% per year) and Sri Lanka (+14.6% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, picking up by 24% against the previous year. Overall, the export price, however, saw a perceptible downturn. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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 India ($X per ton), while Maldives ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (-1.0%), while the other leaders experienced a decline in the export price figures.

Imports of Liquefied Petroleum Gas (LPG)

Imports in Southern Asia

In 2022, liquefied petroleum gas (lpg) imports in Southern Asia reached X tons, increasing by 4.8% compared with 2021 figures. Overall, imports saw strong growth. The pace of growth appeared the most rapid in 2014 with an increase of 32% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, liquefied petroleum gas (LPG) imports soared to $X in 2022. In general, imports recorded resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of 54% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

India prevails in imports structure, amounting to X tons, which was approx. 90% of total imports in 2022. It was distantly followed by Pakistan (X tons), creating a 4.7% share of total imports. The following importers - Nepal (X tons) and Sri Lanka (X tons) - each reached a 4.3% share of total imports.

Imports into India increased at an average annual rate of +11.3% from 2012 to 2022. At the same time, Pakistan (+31.6%), Nepal (+9.5%) and Sri Lanka (+5.7%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +31.6% from 2012-2022. While the share of Pakistan (+3.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported liquefied petroleum gas (LPG) in Southern Asia, comprising 91% of total imports. The second position in the ranking was held by Pakistan ($X), with a 4.5% share of total imports. It was followed by Nepal, with a 2.2% share.

In India, liquefied petroleum gas (LPG) imports increased at an average annual rate of +8.9% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (+29.5% per year) and Nepal (+3.6% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, rising by 14% against the previous year. Overall, the import price, however, recorded a noticeable contraction. The pace of growth appeared the most rapid in 2021 when the import price increased by 48%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in India ($X per ton) and Pakistan ($X per ton), while Sri Lanka ($X per ton) and Nepal ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform