2023-2024 China LPG Market Annual Report
Highlights
In H1, 2023, the overall demand recovery was lower than expected, and the global economic recession exerted bearish impacts on the overall commodity market. Accordingly, China’s LPG prices moved downward and hit an annual low level in mid-July. However, China’s domestic demand recovery was relatively strong, and the international crude oil prices moved upward with production cut. Accordingly, China’s LPG prices rose, and the price increment surpassed RMB 1,000/mt within one month. Both China’s LPG supply and demand went up, but the overall LPG commercial volume remained low. Given the resource subdivision at refineries, ethylene plants started raising LPG consumption from the end of Q2, 2023. Refineries sold more high-alkane LPG and industrial-use gas resources to the market, and impacts of chemical feedstock replacement on LPG market intensified. China’s LPG import volume went up, and the monthly LPG import volume surpassed 3,000kt from May to July, satisfying the downstream demand. There were changes in China’s LPG downstream demand. The overall civil-use gas demand weakened slowly in the wake of gas safety incident. Moreover, given the consumption tax on alkylate, the overall demand structure and profits of the olefin deep-processing industry changed somewhat. China’s PDH capacity exceeded 15.32 million mt/a in mid-2023, lifting propane demand and exerting more notable impacts on the international LPG demand and prices. Profits of iso-butane dehydrogenation units remained high, and China’s MA capacity expanded steadily. There were proposed light ends crackers, and more LPG resources were consumed in the chemical industry. Therefore, there were changes in supply-demand structure, logistics and transportation, market prices and strategies of sellers and buyers. With the rapid development of LPG deep-processing industry, the construction of 2 million m3 storage of Oriental Energy completed, refining-chemical integration projects coming on stream, resource application subdivision and operation strategy adjustment, market participants need to embrace market changes. Based on SCI’s detailed and objective market monitoring data, this report brings comprehensive industrial chain knowledge and information of China’s LPG industry, including the past and the next five years. From multiple perspectives, this report offers scientific data, market change and decision-making foundation for market participants.
Report Value
1 This report provides data about LPG supply-demand fundamentals, based on long-term LPG output, import volume, inventory, demand volume, demand distribution, etc.
2 This report analyzes LPG industry development characteristics and for the reference of participants, based on comprehensive and detailed data.
3 This report analyzes historical LPG price data in the past five years and the future driving factors of price change from multiple angles and forecasts the future development.
4 This report analyzes LPG spot and futures price trends and provides logical relationship of spot and futures price changes for industrial and non-industrial customers.
5 This report analyzes the upstream and downstream demand and the future unit distribution, and market participants can comprehend the value distribution and variation trend of the industrial chain.
Related Products Annual Reports
2023-2024 China Propane Market Annual Report
2023-2024 China Butane Market Annual Report
2023-2024 China Alkylate Market Annual Report
2023-2024 China MTBE Market Annual Report
Contents
Part 1 China LPG Market Overview
Part 2 2019-2023 China LPG Supply-Demand Balance Analysis
Part 3 LPG Supply Pattern and Variation Trend Analysis
3.1 2023 Global LPG Output Analysis
3.1.1 Global LPG Output Regional Layout
3.1.2 2023 Global LPG Resource Flow Analysis
3.2 2019-2023 China LPG Output Variation Analysis
3.2.1 2019-2023 China LPG Output Analysis
3.2.1.1 China LPG Annual Output Variation Trend
3.2.1.2 China LPG Annual Output Variation Trend by Region
3.2.2 2023 China LPG Production Feature and Reason Analysis
3.2.2.1 2023 China LPG Monthly Output and Influence Analysis
3.2.2.2 2023 LPG Production High-Frequency Data Feature Analysis
3.2.3 2023 China LPG Resource Flow Analysis
3.3 2019-2023 China LPG Import Market Analysis
3.3.1 2019-2023 China LPG Import Volume Analysis
3.3.1.1 2023 China LPG Import Volume Trend Analysis
3.3.1.2 2023 China LPG Import Structure Analysis by Trade Partner
3.3.1.3 2023 China LPG Import Structure Analysis by Enterprise Registration Place and Trade Mode
3.3.2 2023 China LPG Import Volume Variation Analysis
3.3.2.1 China LPG Monthly Import Volume and Feature Analysis
3.3.2.2 2023 Impact of LPG Import on China Total LPG Supply Analysis
3.4 2023 China LPG Inventory Level Analysis
3.4.1 LPG Inventory Variation and Trend Analysis
3.4.1.1 LPG Inventory Level at Refineries
3.4.1.2 LPG Port Inventory Level
3.4.1.3 LPG Social Inventory Level
3.4.2 Inventory Level Variation and Price Correlation Feature Analysis
3.4.2.1 Inventory Level Variation Feature and Correlation with Supply and Demand Analysis
3.4.2.2 Inventory Level Variation Feature and Correlation with Price Analysis
3.5 LPG Storage and Logistics Status Analysis
3.6 2024-2028 China LPG Supply Forecast
3.6.1 2024-2028 China LPG Total Supply Forecast
3.6.2 2024 China LPG Monthly Supply and Influence on Price Forecast
Part 4 China LPG Demand Pattern and Variation Trend Analysis
4.1 2019-2023 Global LPG Consumption Volume Variation Trend Analysis
4.1.1 2019-2023 Global LPG Consumption Volume Variation
4.1.2 2023 New LPG Consumption Variation Feature and Influence Analysis
4.2 2019-2023 China LPG Consumption Volume Variation Trend Analysis
4.2.1 China LPG Annual Consumption Volume and Variation Trend
4.2.2 China LPG Major Downstream Industry Demand Volume Variation and Feature Analysis
4.2.3 China LPG Downstream Industry Layout and Regional Consumption Structure Analysis
4.2.4 China LPG Downstream Customer Scale and Demand Variation Analysis
4.2.5 China LPG Downstream Customer Scale in Major Region Analysis
4.3 2019-2023 China LPG Export Market Analysis
4.3.1 2019-2023 China LPG Export Volume Analysis
4.3.1.1 China LPG Export Volume Trend Analysis
4.3.1.2 2023 China LPG Export Structure Analysis by Trade Partner
4.3.1.3 2023 China LPG Export Structure Analysis by Enterprise Registration Place and Trade Mode
4.3.2 2023 China LPG Export Volume Variation Analysis
4.4 2024-2028 China LPG Downstream Industry Consumption Growth Forecast
4.4.1 Alkylate Market Scale Analysis and Demand Forecast
4.4.2 PDH Market Scale Analysis and Demand Forecast
4.5 2024-2028 China LPG Consumption Volume Forecast
4.6 China LPG Demand Peak and Off Seasons Analysis
4.6.1 China LPG Demand Peak and Off Seasonal Feature Forecast
4.6.2 China LPG Demand Peak and Off Season from the Perspective of Price
4.7 China LPG Downstream Procurement Key Factors Analysis
4.8 Operational Risk and Operational Barrier Analysis
Part 5 LPG Price Trend Analysis
5.1 International LPG Price Analysis
5.1.1 LPG Price Trend and Feature in Major Region Analysis
5.1.2 China Domestic and International LPG Price Spread Feature and Influence Analysis
5.2 China LPG Market Price Analysis
5.2.1 Price Variation Feature Analysis
5.2.1.1 Price Variation Feature Analysis
5.2.1.2 Price Variation Feature Analysis by Region
5.2.2 2023 LPG Price Trend and Seasonal Feature
5.3 LPG Futures Price Trend and Influence on Spot Market Analysis
5.4 Related Product Price Co-Movement Analysis
5.4.1 Crude Oil and LPG Price Co-Movement Analysis
5.4.2 Major Downstream and LPG Price Co-Movement Analysis
5.4.3 Related Product and LPG Price Co-Movement Analysis
Part 6 LPG Industry Outlook
6.1 2024-2026 China LPG Price Forecast
6.2 LPG Price Driver Future Development Forecast
6.2.1 Impact of Macro Environment on LPG Market Analysis
6.2.2 Impact of Industrial Policy on LPG Market Analysis
6.2.3 2024-2028 China LPG Supply-Demand Balance Forecast
6.2.3.1 2024-2028 China LPG Supply-Demand Balance Trend and Feature Forecast
6.2.3.2 2024 China LPG Supply-Demand Balance Forecast
6.2.4 China LPG Market Competition Pattern Analysis
6.2.4.1 2024-2028 Global LPG Trade Flow Forecast
6.2.4.2 2024-2028 China LPG Trade Flow Forecast
6.2.5 Value Chain Analysis and Forecast
6.2.6 Related Product Price Co-Movement Forecast
6.3 2024 Major Price Driver Influencing Extent Analysis
Appendix
Appendix 1 LPG Annual Events
Appendix 2 Methodology and Related Definition
Appendix 3 Tables and Charts
Legal Statement