Jul 20, 2020 (AmericaNewsHour) --
Natural Gas Liquids (NGLs) Market is estimated to reach 13,229 barrels/day by 2024; growing at a CAGR of 6.8% from 2016 to 2024. Natural gas liquids namely propane, ethane, pentane plus, and butanes, among others are separated from the natural gas as liquids, through various procedures. Various industrial sectors such as refineries, food industry, manufacturing industry, among others pose a huge demand for naturals gas liquids. Growth in automotive sector has led to an increased demand for natural liquid gas majorly in the developing economies such China, Japan, and India. These products are a good source of energy and is increasingly used in portable stoves, laundries, motor vehicles, and other application areas.
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Rise in utilization of associated gas, increased demand in refineries and petrochemical plants, and replacement of wetter non-associated gas with traditional dry gas, are the major factors supplementing the global natural gas liquids market. However, high competition from other energy producing products such as methane gas, and bio gas would act as a restraint for the market. Development in the infrastructure for NGLs would generate new business opportunities for the market in the coming years.
The global natural gas liquids market is bifurcated by product type and geography. By product type, the market is further segmented into ethane, propane, isobutane, and others. By product type, ethane segment accounted for the largest market share in 2016, owing to its increased demand in refineries for heating. However, the isobutane segment is expected to grow at the fastest CAGR during the forecast period 2016-2022. Geographically the market is categorized into North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Geographically, the global natural gas liquids market has been segmented into North America, Europe, Asia-Pacific and (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers UK, Russia, Norway, and others. Asia-Pacific covers China, India, Indonesia, Malaysia, and others. Rest of the World (RoW) covers South America, Middle East and Africa.
Major key players in the natural gas liquids market are ConocoPhillips Company, SM Energy, Royal Dutch Shell Plc., Chesapeake Energy Corporation, Exxon Mobil Corporation, BP Plc, Range Resources Corporation, Linn Energy LLC, Statoil ASA, and Swift Energy Company, among others.
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The key takeaways from the report
The report will provide detailed analysis of Natural Gas Liquids Market with respect to major segments such as product type, and geography
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
Comprehensive analysis of market dynamics including factors and opportunities of the global Natural Gas Liquids Market
An exhaustive regional analysis of Natural Gas Liquids Market from 2015 to 2024 has been included in the report
Profile of the key players in the Natural Gas Liquids Market, will be provided, which include key financials, product & services, new developments and business strategies
Scope of Natural Gas Liquids Market
Product Type Segments
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