In 2023, the import of liquefied propane to the US stood at approximately 11.15 billion kilograms. Forecasts indicate a steady increase in imports, reaching 11.477 billion kilograms in 2024 and continuing to grow annually, culminating in 12.72 billion kilograms by 2028. This reflects a consistent rise in propane imports over the forecasted period.
Year-on-year growth rates from 2024 to 2028 indicate a robust increase, with each year experiencing a growth ranging from about 2.8% to 2.6% annually. This steady increment marks the compounded annual growth rate (CAGR) of roughly 2.77% over this period.
Future trends to watch for involve the potential impact of alternative energy sources on propane demand, changes in domestic production capacity, and international trade dynamics influenced by geopolitical factors and climate policies.
- 2024 growth relative to 2023: Approximately 2.94%
- 2025 growth relative to 2024: Approximately 2.79%
- 2026 growth relative to 2025: Approximately 2.66%
- 2027 growth relative to 2026: Approximately 2.54%
- 2028 growth relative to 2027: Approximately 2.42%
