Petroleum gases and other gaseous hydrocarbons: in gaseous state, other than natural gas

In 2024, petroleum gases and other gaseous hydrocarbons: in gaseous state, other than natural gas trade exhibited strong growth, with global flows reaching $2,521,876,424 and a three-year compound annual growth rate of +35.9% (five-year: +24.0%). The all-time peak of $3,515,657,173 was recorded in 2004; the current level is 28% below that high-water mark.

Over the 30-year observation window (1995–2024), 55% of years recorded positive growth, indicating a mildly upward trajectory with periodic contractions. Trend momentum is strengthening (+18.2% acceleration).

The World Trade Flows Characterization classifies petroleum gases and other gaseous hydrocarbons: in gaseous state, other than natural gas as "One-way trade" in the unclassified price segment, providing additional context for market positioning and competitive dynamics.

The supply side is concentrated (Herfindahl-Hirschman Index 0.414). The three largest exporters — Algeria ($1.3B), Nigeria ($1.2B), and Libya ($189.4M) — collectively dominate supply flows. The leading exporter has grown at +51.3% over the last three years.

On the demand side, importer concentration is concentrated (HHI 0.293). The three largest import markets are Tunisia ($1.3B), China ($365.3M), and Malaysia ($182.9M). The largest importing market sources from 7 different supplying countries.

Estimated substitution elasticity: -66.33. Buyers are highly price-sensitive and can switch between suppliers relatively easily.

The dominant trade corridor is Algeria → Tunisia at $1.2B, representing 94.4% of the importer's total demand.

The volatility score for petroleum gases and other gaseous hydrocarbons: in gaseous state, other than natural gas is 83 out of 100, classified as high. This product exhibits above-average trade variability, making it important to monitor supply chain resilience and price exposure.

For market entrants, strong demand tailwinds create a favourable entry environment. The concentrated supply structure suggests high barriers but also potential opportunity if dominant suppliers face disruption or capacity constraints.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.