In the period leading to 2023, household LPG consumption in China displayed a distinct trend. Starting in 2013, there was a strong growth trend, peaking around 2017. However, a declining trend emerged after 2018, with significant year-on-year drops and leading to a volume of 2.71 million metric tons in 2023. This trend saw an initial CAGR of 4.84% in 2013, escalating to 14.55% by 2017, but reversing sharply to -2.93% by 2023.
Looking to the future, consumption is forecasted to continue its decline, with the volume predicted to reach 2.48 million metric tons by 2028. The five-year forecasted CAGR indicates a yearly average decrease of -1.45%, reflecting an overall reduction of 7.04% over this period.
Future trends to watch for include the adoption of alternative energy sources, government policy adjustments, and technological advancements in household energy consumption. These factors could further influence LPG consumption patterns in China.
