Natural Gas Liquids Market Poised to Expand at a Robust Pace Over 2030
Access the Full Report @ https://www.alliedmarketresearch.com/natural-gas-liquids-market
NGLs are extracted as byproducts in the production of natural gas and oil. In addition, of these two sources, natural gas processing is by far the most significant, contributing over 90% of NGL production in 2018. When extracted from a well, natural gas is mixed with other hydrocarbonand various impurities. In order for the natural gas to be marketable, the NGLs and impurities must then be removed. The separated NGLs may then be discarded or undergo further processing in order to be sold. The relatively high value of NGLs combined with the rise in natural gas production has led to a rapid rise in NGL production as it has become more economical for processors to sell the separated NGLs. The U.S. is by far the largest producer of NGLs in the world, accounting for more than a third of global production. Domestic NGL production has more than doubled in the 10 years since 2008, reaching 1,381 million barrels in 2017. Ethane and propane are the two most prevalent NGLs, and together they account for more than 70% of all domestic production. Canada, Japan, and China are currently the largest importers of U.S. NGLs.
The key factors responsible for driving natural gas liquids markets are increase in demand in petrochemical plants; surge demand in refineries, and high demand from industrial & residential consumers. Some of the other factors responsible for driving the natural gas liquids market are developments in natural gas business; and the increased utilization of associated gas.
Restraining factors to this market are lack of infrastructure to handle NGLs, and tough competition from other energy producing products such as methane gas, bio gas, and many more. The opportunity lies in developing the infrastructure for NGLs.
Get a PDF brochure for Industrial Insights and Business Intelligence @ https://www.alliedmarketresearch.com/request-sample/1845
The natural gas liquids market is segmented on the basis of product and application. By product, it is classified as ethane, propane, isobutene, and natural gasoline. By application, it is categorized as Industrial, residential, and commercial. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include BP P.L.C., Chevron Corporation, ConocoPhillips Company, Devon Energy Corporation, Exxon Mobil Corporation, Lukoil, Occidental Petroleum Corporation, Range Resources Corporation, Saudi Arabian Oil Co. and Shell Plc.
The report focuses on the global natural gas liquids industry and the major products and applications where Natural gas liquids are deployed. It further highlights numerous factors that influence the market growth, such as forecast, trends, drivers, restraints, opportunities, and roles of different key players that shape the market. The report focuses on the overall demand for Natural gas liquids in various countries, presenting data in terms of both value and volume. The revenue is calculated by proliferating the volume by region-specific prices, considering the region-wise differentiated prices.
IMPACT OF COVID-19 ON THE GLOBAL NATURAL GAS LIQUID MARKET
• Natural gas liquid has a significant share in chemical & material industry.The chemicals and materials sector spans applications from automotive to medical devices to institutional cleaners. 96 percent of manufactured goods contain products of the chemical industry. A sector with such broad economic exposure is expected, therefore, to be affected by the initial and sustained changes resulting from COVID-19. Depending upon the course of the pandemic and the impact on economic conditions, chemicals and materials companies can expect threats to vulnerable business models and significant opportunities for growth and transformation.
• Sales of natural gas liquids is directly proportional to the demand of oil & gas production. Oil & gas production gotlimited impact by lockdown imposed due to the COVID-19 outbreak and recorded a huge decline in crude prices in 2020 due to less storage and resumed overflow production, However, the continued upstream activities has not impacted the production of natural gas liquids but there is sluggish impact on sales of natural gas liquids
• COVID-19 impacted almost all industries by hindering various industrial operations and disrupting the supply chain. Maximum companies halted their operation due to less workforce. However, there is a sluggish decline in the global natural gas liquids market due to impact of COVID-19.
• Furthermore, import and export activities were significantly impacted, which, in turn, adversely affected the industries using natural gas liquids and thereby affecting the global natural gas liquids market.
• According to the UNIDO, 30.0%-70.0% of pre-COVID-19 workforce of various industries, such as electrical and other third-party vendors migrated to their hometowns, due to uncertainties and loss of income during the lockdown. This unavailability or less availability of workforce is expected to directly affect the production and manufacturing activities, thereby resulting in decline in petrochemical industry which in turn to decline the growth of the natural gas liquid market during the forecast period.
Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/1845
Key findings of the study
• On the basis of product, the ethane segment emerged as the global leader in 2020 and is anticipated to hold the largest natural gas liquids market size during the forecast period.
• On the basis of application, industrial segment emerged as the global leader in 2020 and is anticipated to be the largest markets during the forecast period.
• On the basis of region, the natural gas liquids market share is highly attributed to North America and is projected to maintain the same during the natural gas liquids market forecast period.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Allied Market Research Blog: https://blog.alliedmarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Natural Gas Liquids Market Poised to Expand at a Robust Pace Over 2030 here
News-ID: 3041391 • Views: 296
More Releases from Allied Market Research
Control Valves Market: Unlocking Efficiency 2027 | The Impact of Automation Tech …
In today's fast-paced industrial landscape, efficiency and cost-effectiveness reign supreme. One of the key areas where these imperatives are playing out is in the implementation of automation technologies, particularly in the management of liquids passing through pipes and valves. This transformative shift is not only reducing wastage but also driving down operational costs across various industries. Automation for Efficiency Automation technologies are revolutionizing how industries handle the flow of liquids, making it
Smart Mining Market: Revolutionizing Mining Technologies at CAGR of 16.3% to 202 …
The mining industry has always been at the forefront of innovation, constantly seeking ways to improve productivity, enhance safety, and reduce operational costs. In recent years, a remarkable transformation has been taking place in the world of mining, driven by the integration of hardware and software, collectively known as smart mining technologies. This revolution is changing the way mining companies operate, making their processes more efficient and sustainable. The global smart
Autoclaved Aerated Concrete Market: At a CAGR of 7.2% Poised to Garner Maximum R …
Autoclaved Aerated Concrete, often referred to as AAC or simply aircrete, is rapidly gaining popularity in the world of construction. It stands out as a lightweight alternative to traditional building materials, offering a plethora of advantages that have made it the material of choice for architects and builders around the globe. Let's delve into the fascinating world of AAC and discover why it's transforming the construction industry. The global autoclaved aerated
Smart Indoor Garden Systems Market Comparative Analysis by Top Key Players 2027
Imagine having a lush garden right in the heart of your home, where you can grow herbs, fresh plants, and flowers with enhanced nutritional content. Thanks to the marvels of technology, this dream is now a reality with smart indoor gardening systems. These cutting-edge solutions are revolutionizing the way we grow and care for plants indoors, making it easier than ever to cultivate greenery even in the smallest of spaces. According
More Releases for NGL
Imidocarb Dipropionate Market 2022 Regional Landscape, Production, Sales & Consu …
Los Angeles, United State: The report is a comprehensive and one of the most accurate research studies on the global Imidocarb Dipropionate market. It sheds light on market competition, segmentation, regional growth, and dynamics such as drivers, restraints, trends, and opportunities. It provides validated and revalidated market figures, which include market size, CAGR, market share, revenue, gross margin, production, and consumption. It offers absolute dollar opportunity analysis, manufacturing cost analysis,
Supplemental Health GAP Market Size Is Booming Across The Globe, Explores Indust …
The "Supplemental Health GAP Market" Research Report details key growth drivers and opportunities to drive industry growth from 2022 to 2028. The Supplemental Health GAP market report is an intelligence report that has been meticulously conducted to investigate relevant and valuable information. The data surveyed is designed with both existing top players and upcoming competitors, growth prospects and development trends etc. The business strategies of key players and new market
Veterinary API Manufacturing Market Global Competition and Business Outlook 2021 …
The Global Veterinary API Manufacturing Market report offers a comprehensive evaluation of the market. It does give in-depth analysis via qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. The report contains detailed analysis of Veterinary API Manufacturing market growth, segmentation, regional and country breakdowns. It can provide a detailed study of the drivers, development
Natural Gas Market Key Regional Analysis, Global Industry Size And Top Key Playe …
The Business Research Company offers " Natural Gas Global Market Report 2020" in its research report store. It is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country. It also compares the
Global Natural Gas Market | Characteristics, Forecast Size, Trends, Key Players …
The natural gas market size is expected to reach a higher value by 2022, significantly growing at a steady CAGR during the forecast period. Global Natural Gas market Report 2019 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the Global Natural Gas market. Order The Report At: https://www.thebusinessresearchcompany.com/report/natural-gas-global-market-report Description: Where is the largest and fastest growing market for Global Natural Gas
Natural Gas Liquids (NGL) Market Provides Deep Insights about the Various Opport …
Natural gas liquids (NGLs) products are being transported through regular transport means such via tankers and ships but there is a need to develop a proper transportation channel for these products whereas, development of proper infrastructure can pave the way for potential market opportunities. Natural Gas Liquids Market Report, published by Allied Market Research, forecast that the global market accounted for 7,306-kilo barrels/day in 2015 and is expected to reach 11,468