Chemical Market Research Report

LPG Market price in North America exhibited a fluctuating trend during the third quarter of 2023. In the initial half, prices experienced a decline of nearly 6%, primarily attributed to reduced demand during the off-season. This depreciation was exacerbated by major industry players such as Aramco and Sonatrach, who slashed LNG prices in response to the prevailing low demand. However, a noteworthy turnaround occurred in the latter half of the quarter, with prices rebounding by almost 7% in September. This resurgence was driven by a surge in demand for Propane, particularly from Asian markets for Propane Dehydration (PDH) to produce Polypropylene. Concurrently, disruptions in the supply chain were observed, as delays and congestion in the Panama Canal, a crucial trade route for LPG shipments to North America, led to increased transit charges and extended lead times for product delivery. These supply chain challenges contributed to a further uplift in prices during the period. LPG pri