Analysis of liquefied petroleum gas (LPG) consumption in the construction industry in China shows a fluctuating trend over the past decade, with a notable decrease in 2020 likely due to the impact of the global pandemic. From 2021 onwards, consumption began to show a gradual recovery, standing at 15.1 ten thousand metric tons in 2023. From 2024, forecasted figures indicate a steady incline, projected to reach 16.38 ten thousand metric tons by 2028.
Key Variations:
- Year-on-year variation observed a peak fluctuation from -19.29% in 2020 to 5.83% in 2023.
- The last 5-year CAGR (2019-2023) was -2.34%, indicating an overall decline in the period leading up to 2023.
- The forecasted 5-year CAGR (2024-2028) is projected at 1.29%, reflecting an average annual growth rate reversal, indicating a potential recovery in LPG consumption.
Future trends to watch for include potential impacts of emerging green construction technologies, policies promoting cleaner energy sources, and fluctuating demand in the broader construction sector driven by economic conditions and urban development trends. These factors could shape the trend and the rate of recovery of LPG consumption in the industry.
