Global
Natural Gas Liquids (NGLs) Market forecast is expected to reach 13,229
kilo barrels/day by 2024 from 7,793 kilo barrels/day in 2016.
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Development
in the infrastructure for NGLs would act as a growth opportunity
The global natural gas liquids market is
driven by increasing demand from refineries & petrochemical plants, and growing
utilization of associated gas. Though, high competition from other energy producing
products such as methane gas, bio gas, and others may hamper the growth of the natural
gas liquids industry. Moreover, development in the infrastructure for NGLs
would provide several growth opportunities for the market in the coming years.
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Market
Segmentations
The global natural gas liquids market has
been classified into product type and geography. Product type segment includes isobutene,
propane, ethane, and other products. Based on geography, the global NGLs is
segmented into North America, Europe, Asia-Pacific, and RoW.
Ethane
accounted the highest market share in 2016
Ethane dominated the product type segment
in 2016, expected to remain the highest over the forecast period 2016 – 2024.
The ethane market is driven by its mounting demand in refineries for heating,
and production of plastic and other goods.
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North
America held the highest market in global market in 2016
North America accounted the largest
market share in 2016, and is expected to continue its dominance during the
forecast period. The market is driven by increase in demand from industrial and
residential consumers mainly in United States, and Canada. In terms of growth,
Asia-Pacific is anticipated to grow at the fastest CAGR over the forecast
period, 2016-2024, owning to rising energy demand in countries such as China
and India.
Competitive
Landscape
Major players operating in the global
natural gas liquids market are Royal Dutch Shell Plc., ConocoPhillips Company, SM
Energy, Chesapeake Energy Corporation, Range Resources Corporation, BP Plc, 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
Related
Topics
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