The import of Liquefied Butanes to Saudi Arabia has shown a significant increase over the past decade. Standing at 2,568.4 thousand US dollars in 2023, there was a gradual increase from 2013, with notable year-on-year variations including a major jump in 2014 (511.67%) and a marked decline in 2015 (-27.37%). In recent years, the annual growth showed more moderation, with increases of 10.76% in 2022 and 4.86% in 2023. The compound annual growth rate (CAGR) over the last five years indicates an average annual increase of 5.97%.
Looking ahead, the forecast projects a continued upward trend with a forecasted CAGR of 3.42% from 2024 to 2028. By 2028, imports are expected to grow by 18.31% from 2023 levels, reaching 3,183.7 thousand US dollars.
Future trends to watch for:
- Fluctuations in global butane prices
- Saudi Arabia’s domestic production capabilities
- Policy changes impacting energy imports
- Technological advancements in butane extraction and processing
- Environmental regulations affecting the import and use of butane
