The availability of liquefied petroleum gas (LPG) in China has shown a consistent upward trend from 2013 to 2023, increasing from 2.84 to 7.16 ten million metric tons. This growth represents an approximate increase of 152% over the eleven-year period. Notably, the year-on-year growth has slowed down in recent years, with a percentage change of 3.72% from 2022 to 2023. The average annual growth rate (CAGR) over the last five years stands at 4.54%, indicating a deceleration compared to previous periods.
Looking forward, the forecast suggests continued growth in LPG availability, reaching an estimated 8.4 ten million metric tons by 2028. However, the five-year CAGR is expected to further moderate to 2.54%, reflecting a more gradual increase compared to historical rates. Key factors contributing to this trend include market stabilization and efficiency improvements in consumption and production.
Future trends to watch for include:
- Technological advancements in LPG extraction and refinement processes.
- Government policies and regulations impacting LPG production and consumption.
- Shifts in domestic and industrial energy needs influencing LPG demand.
