Forecast: Liquefied Petroleum Gases Final Consumption in Industry in Turkey

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.

Top Countries about Liquefied Petroleum Gas