The data shows that China's liquefied petroleum gas (LPG) imports experienced significant growth until 2019, followed by a steady decline. In 2023, the import volume stood at 18.7 million metric tons. Significant growth was observed from 2013 to 2016, with import volumes markedly increasing. However, the trend reversed from 2020, with consistent year-on-year decreases, indicating a downward trajectory.
Over the last five years (2018-2023), the compound annual growth rate (CAGR) was negative, reflecting a near 1% decrease per annum. Looking ahead, the forecast up to 2028 suggests a further decline with a negative CAGR of 2.15%, highlighting a projected 10.28% reduction over the next five years.
- Be alert to shifts in China's energy policies affecting LPG demand.
- Monitor technological advances in alternative energies.
- Watch geopolitical developments impacting global LPG supply chains.
