In industry, propane is used as fuel and raw material, such as home heating and industrial heating. At the same time, propane is also an important raw material that can be used to produce chemical products such as ethylene and propylene. In the commodity field, propane is mainly used for cooking and heating. In the household and catering industry, propane is widely used in gas stoves, water heaters and other equipment to provide convenience for people's lives. In addition, propane is also used in outdoor barbecues, camping and other activities.
At present, the world's major propane producing countries include the United States, Qatar, the United Arab Emirates, Saudi Arabia, etc. The United States is the world's largest propane producer and exporter. Its production accounts for more than 50% of the world's total production, and it has become the world's largest propane exporter in the past few years. Propane in the United States is mainly produced by natural gas processing plants and refineries. Next are Middle Eastern countries such as Qatar, Saudi Arabia and the United Arab Emirates.
From the perspective of overall market demand, Europe and Asia are the main propane consumption regions in the world. Among them, Southeast Asia has seen rapid growth in demand for propane as population growth and urbanization continue to advance, becoming an important region for demand growth.
In recent years, with the rapid development of Vietnam's economy, especially the acceleration of industrialization, the demand for propane as an important industrial raw material has continued to increase. At the same time, propane is also used as an energy fuel in Vietnam, especially in some industrial and commercial fields. With the advancement of Vietnam's urbanization process, Vietnam's demand for clean energy is also increasing. As a clean fuel, the market demand for propane is further rising.
The production of local propane in Vietnam mainly depends on the refining of oil and natural gas. Large domestic refineries and natural gas processing plants are the main production bases. However, Vietnam's propane production capacity is relatively small compared to its demand, and is often insufficient to meet domestic market demand. Therefore, Vietnam relies on imports to fill the supply gap in propane production.
According to the publisher's data, Vietnam's total propane imports in 2023 reached US$928 million. The market demand was even stronger in 2024. The cumulative amount of propane imports from January to November was close to US$1.347 billion, and it is expected to continue to grow in the next few years.
According to the publisher's analysis, Vietnam's main propane import sources include the United Arab Emirates, Kuwait, Qatar, Saudi Arabia, the United States, Japan, South Korea and Singapore. The United Arab Emirates is Vietnam's main source of propane imports. The top three countries and regions for Vietnam's import of propane from 2021 to 2024 were the United Arab Emirates, Qatar and Saudi Arabia.
According to the publisher's analysis, the main companies exporting this product to Vietnam include WANHUA CHEMICAL (SINGAPORE) PTE LTD, EXTAP A DIVISION OF EXXONMOBIL ASIA PACIFIC PTE LTD., BGN INT DMCC and other companies. The main importers of propane in Vietnam from 2021 to 2024 include HYOSUNG VINA CHEMICALS CO LTD, CHI NHÁNH TỔNG CÔNG TY KHÍ VIỆT NAM - CÔNG TY CỔ PHẦN - CÔNG TY KINH DOANH SẢN PHẨM KHÍ, CÔNG TY CỔ PHẦN DẦU KHÍ AN PHA (Công Ty Cổ Phần Tập Đoàn Dầu Khí An Pha) and other trading distribution companies.
Overall, the demand for propane in Vietnam is showing a rapid growth trend. With the growth of Vietnam's population and the advancement of industrialization and urbanization, the propane market is expected to continue to grow. However, due to Vietnam's extremely limited local production capacity, propane is heavily dependent on imports, and the main import sources include Saudi Arabia, the United Arab Emirates and the United States. In the future, with the rapid economic development and accelerated industrialization, Vietnam's propane import market will usher in a broader development prospect.
Topics covered:
- The Import and Export of Propane in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of Propane in Vietnam (2021-2024)
- Total Import Value and Percentage Change of Propane in Vietnam (2021-2024)
- Total Import Value and Percentage Change of Propane in Vietnam (January-November 2024)
- Average Import Price of Propane in Vietnam (2021-2024)
- Top 10 Sources of Propane Imports in Vietnam and Their Supply Volume
- Top 10 Suppliers in the Import Market of Propane in Vietnam and Their Supply Volume
- Top 10 Importers of Propane in Vietnam and Their Import Volume
- How to Find Distributors and End Users of Propane in Vietnam
- How Foreign Enterprises Enter the Propane Market of Vietnam
- Forecast for the Import of Propane in Vietnam (2025-2034)
Table of Contents
Companies Mentioned
- Wanhua Chemical(Singapore)Pte Ltd.
- Extap a Division of Exxonmobil Asia-Pacific Pte Ltd.
- Bgn Int Dmcc
- Hyosung Vina Chemicals Co Ltd.
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
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The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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