The refinery output of liquefied petroleum gases (LPG) in Belgium has seen a general upward trend from 2013 to 2023. The value in 2023 stood at 14.42 thousand gigawatt-hours, showing a year-on-year increase of 1.73%. Over the last five years, the compound annual growth rate (CAGR) has been 6.36%, indicating a steady expansion in this sector.
Notable variations include the sharp increase of 22.74% in 2014 and a substantial jump of 28.98% in 2019. However, the growth has plateaued more recently, with a marginal decline in 2020 and modest gains in the following years.
Looking ahead, the forecast suggests a continuous albeit slower growth, with an estimated CAGR of 1.26% for the next five years, reaching 15.61 thousand gigawatt-hours by 2028. Future trends to watch for include technological advancements in refinery processes, shifts in market demand, and regulatory impacts that could influence production outputs.
