The global natural gas liquids market is expected to grow at a CAGR of 6.67% from 2016 to 2022 to reach by 11,468 kilo barrels/day in 2022 from 7,306 kilo barrels/day in 2015. Natural Gas Liquids (NGLs) are those hydrocarbons in natural gas that are separated from the gas as liquids through various processes and the products thus obtained are majorly ethane, propane, butanes, pentane, and pentane plus. These products can be used for heat, in cooking, as an energy source, laundry dryers, portable stoves, and in motor vehicles.
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The key factors responsible for driving the natural gas liquids market are increasing demand in petrochemical plants; increasing demand in refineries, and high demand from industrial and residential consumers. Some of the other factors responsible for driving this market are development in the natural gas business; increasing utilization of associated gas; traditional dry gas being replaced by wetter non-associated gas in some countries.
Royal Dutch Shell Plc.,Chesapeake Energy Corporation,ConocoPhillips Company,SM Energy,Exxon Mobil Corporation,BP Plc,Range Resources Corporation,Statoil ASA,Swift Energy Company,Linn Energy LLC.
Restraining factors to this market are lack of infrastructure to handle NGLs, and tough competition from other energy producing products such as methane gas, biogas, and many more. The opportunity lies in developing the infrastructure for NGLs.
The natural gas liquids market is segmented based on its product type, and geography. Based on product type, the market is segmented into ethane, propane, isobutane, and other type (normal butane, pentane, and pentane plus). Geographically, this market is segmented into North America (U.S., Canada, Mexico, Others), Europe (UK, Russia, Norway, and Rest of Europe), Asia-Pacific (Australia, Indonesia, Malaysia, China, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
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The study conducts SWOT analysis to assess the strengths and weaknesses of the key players engaged in the Natural Gas Liquids market. Moreover, the report undertakes an elaborate examination of drivers and constraints operating in the market. The report also evaluated the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Natural Gas Liquids market segments and regions.
The study assesses factors such as segmentation, description, and applications of Natural Gas Liquids industries. It derives accurate insights to give a holistic view of the dynamic features of the business, including shares, profit generation, thereby directing focus on the critical aspects of the business.
Major highlights of the report:
- An all-inclusive evaluation of the parent market
- The evolution of significant market aspects
- Industry-wide investigation of market segments
- Assessment of the market value and volume in the past, present, and forecast years
- Market share evaluation
- Study of niche industrial sectors
- Tactical approaches of the market leaders
- Lucrative strategies to help companies strengthen their position in the market.
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