African LPG Market
Forecasting the future can be risky, but right now there can be few better opportunities in the LPG industry than the African LPG business. Over the last five years African LPG consumption has increased by nearly 30%, far outpacing growth in other major regions of the world. In the same period the Moroccan LPG market has seen a 20% increase in volume, making it the second largest consuming market on the continent.
Future LPG growth is correlated with, amongst other things, growing GDP (Gross Domestic Product) and a growing population. In both cases Africa has a bright future with forecasts showing that African GDP will grow, perhaps by a factor of six by 2050, while African population will increase to be greater than China, North America and Europe combined by the same year. African LPG consumption, while growing, is still relatively low at less than 5% of global consumption. Now is the moment to explore the potential of the African LPG industry and, together with public and private sector players, shape its future development for the benefit of all.