North America Dominated The Global Natural Gas Liquids (NGLs) Market With Highest Market Share

Global Natural Gas Liquids (NGLs) Market Report, published by Variant Market Research, forecast that the global market is expected to reach 13,229 kilo barrels/day by 2024 from 7,793 kilo barrels/day in 2016. The report will include detailed analysis of NGLs market with respect to major segments such as, product type and geography. Natural gas liquids (NGL) are part of natural gas that are divided from the gas state in the form of liquids. This separation occurs in a gas processing plant through condensation, absorption, and other methods. NGLs includes isobutane, butane, propane, ethane, and natural gasoline which is used as combination in refinery process. NGLs are used in various sectors such as petrochemical industry, refineries, and others.

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The global natural gas liquids market is majorly driven by growing utilization of associated gas and rising demand from refineries and petrochemical plants. Furthermore, replacement of wetter non-associated gas with traditional dry gas fuels the growth of the market. Though, high competition from other energy producing products such as methane gas, bio gas, and others may hamper the growth of the market. Additionally, development in the infrastructure for NGLs would provide several growth opportunities for the market in the future years.

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The global natural gas liquids market is bifurcated into product type and geography. Product type segment comprises ethane, isobutene, propane, and others. Based on geography, the global NGLs has been segmented into North America, Europe, Asia-Pacific, and RoW.

Ethane dominated the product type segment in 2016, driven by its mounting demand in refineries for heating. Ethane is one of the main component of the natural gas liquids stream. Ethane production is used in the petrochemical sector while making ethylene. It is also used in production of plastic and other goods.

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North America accounted the largest market share in 2016, and is expected to continue its dominance during the forecast period, driven by rise in demand from industrial and residential consumers mainly in the U.S. The petrochemical industry in North America is a major consumer of nature gas liquids. In terms of growth, Asia-Pacific is expected to grow at the fastest CAGR during the forecast period, 2016-2024. The high growth is majorly seen due to growing energy demand in countries such as China and India.
The key Major players operating in the natural gas liquids market are ConocoPhillips Company, Royal Dutch Shell Plc., SM Energy, Chesapeake Energy Corporation, BP Plc, Range Resources Corporation, Exxon Mobil Corporation, Swift Energy Company, Linn Energy LLC, and Statoil ASA, among others.

Scope of Natural Gas Liquids Market

Product Type Segments
• Propane
• Ethane
• Isobutene
• Others

Geographical Segments
• North America
o US
o Canada
o Mexico

• Europe
o Russia
o U.K.
o Norway
o Others

• Asia-Pacific
o China
o India
o Malaysia
o Indonesia
o Others

• RoW
o South America
o Middle East
o Africa

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Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.

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