World¡¯s LPG Demand Increases By 2012
Korea LPG Association forcasted that LPG demand will increase gradually by 2012 due to the Asia market¡¯s(China, India, etc) demand increase citing World LP Gas Association¡¯s release.
Though household and commercial part accounts for half of the total consuming quantity, the portion does not varies much. However, it is expected that demand in chemical and transportation part will show increasing trend.
The Asia is the largest LPG consuming market on the basis of the market size and its potential. LPG demand of the Asia area is expected to increase from 55million tons in 2000 upto 85million tons in 2012.
Even though the Africa is a newly emerging LPG market, it is expected that most of LPG demand will be just from the North Africa such as Egypt, Algeria, etc.
Especially, the modernization of energy demand environment is expected to cause a big increase of LPG demand in household and commercial part.
For LPG¡¯s use, chemical and transportation market will get bigger. Chemical market which is sensitive to price will grow and the Middle East area will be the main.
It is forecasted that LPG supply quantity increases according to the LPG demand increase by 2012. The total of world¡¯s LPG production is expected to increase from 200million tons in 2000 to 270million tons in 2012.
The increasing trend of LPG¡¯s supply amount is expected to be seen in the Middle East and Asia, but not in the North America.
The Middle East market is expected to account for over 40% of LPG production increase. And the Asia market which is affected by the transportation market growth is expected to demand much more LPG supply. Comparing to the early 2000, world¡¯s LPG supply quantity increases rapidly. So, it gives a reason that world¡¯s LPG price is formed at a relatively low level.
This article is from ¡°The Gas Industry News¡±(Jan. 16th, 2008)