Between 2013 and 2023, the consumption of Liquefied Petroleum Gases (LPG) in Turkey's industry fluctuated significantly. Starting at 184.68 thousand tonnes of oil equivalent in 2013, there was a sharp decline, reaching 96.38 in 2020. Recently, however, there has been a modest comeback, with the value standing at 112.28 in 2023, reflecting a 3.11% year-on-year increase. Over the past five years, the compound annual growth rate (CAGR) has averaged -2.49%, indicating an overall downward trajectory despite recent increases.
From 2023 to 2028, the forecast shows a slight upward trend, with a projected five-year CAGR of 0.49%, culminating in a total growth of 2.47% by 2028. This suggests a stabilization and gradual recovery in consumption levels.
Future trends to watch for include:
- Emergence of alternative energy sources and their potential impact on LPG consumption.
- Industrial growth rates and economic factors influencing LPG demand.
- Government policies and incentives aimed at increasing or decreasing reliance on LPG.