Natural Gas Liquids Market Share to grow at 7% CAGR by 2025

Japan NGL market is set to exceed the consumption of 0.2 mbl/day by 2025. Growing demand for high value-added manufactured petrochemicals coupled with accelerating investments toward chemical industry will propel the industry growth. Furthermore, rapidly expanding various industrial bases including refineries, chemicals and manufacturing industries along with ongoing funding toward automotive sector will encourage the product penetration.

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Reduced emissions from industries, lower electricity costs, decreasing dependence on foreign countries pertaining to energy imports, and reduced space heating expenses are amongst the most influential factors that will fuel the natural gas liquid market growth. Furthermore, increasing demand for propane particularly across the emerging nations as a domestic fuel coupled with expanding population and rise in disposable income will positively impact the industry landscape.

Natural Gas Liquid Market share is set to surpass 14 mbl/day by 2025. Prevailing expansion of space heating systems predominantly across Tier III & II cities coupled with increasing capital expenditure toward petrochemical industry will foster the natural gas liquid market. Furthermore, the burgeoning demand for gasoline as a driving fuel for automobiles will positively impact the industry dynamics. In addition, the growing use of polyethylene, synthetic rubber and polypropylene for manufacturing tires, plastics and various other products will stimulate the industry growth.

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Blendstock segment will witness growth owing to its rising use across petrochemical refineries and as a blending agent with various other hydrocarbon end-products. Furthermore, growing need for high-octane gasoline owing to its low aromatic content and desirable fuel properties will thrust the natural gas liquid market growth.

The propane NGL market is anticipated to grow over 7% by 2025. Increasing use of product across space heating and transportation sectors along with its rising demand as a feedstock for chemical industries will augment the industry growth. Introduction of stringent emission norms coupled with intensifying need for efficient and clean fuel will boost the natural gas liquid market.

Europe natural gas liquid market will witness growth on account of increasing concerns toward carbon reduction along with favorable government policies. Furthermore, structural shifts in the economy, considerable improvements in energy efficiency and the fluctuating consumption patterns will fuel the industry growth. In addition, increasing investments toward expansion of service sector coupled with the rising need for space heating will drive the business outlook.

High replacement potential, extensive applications across numerous sectors and reduced carbon footprint are the underline parameters that will propel the natural gas liquid market growth. Furthermore, the increasing demand for energy efficient and effective systems coupled with expansion of industrial and commercial sectors will positively impact the industry growth.

Eminent industry players operating across the natural gas liquid market comprises of BP, Petrobras, Royal Dutch Shell, Exxon, Qatar Petroleum, Canadian Natural Resources, Range Resources, Rosneft, Riveria, Eni, ConocoPhilips, Equinor, Total, Gazprom, Lukoil, Devon, and Chevron.

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