Transparency Market Research has released a new market report titled Natural Gas Liquids market - Global Industry Analysis, Size, Share, Growth Trends and Forecast 2016 - 2024. The report defines and segments the natural gas Liquids market, providing analysis and forecasts of the global production. According to the report, the global natural gas Liquids market stood at 7,982.63 Kilo barrels/Day in 2015 and is likely to reach 14,806.59 Kilo barrels/Day by 2024 at a CAGR of 7.16% between 2016 and 2024.
The natural gas Liquids market has been segmented on the basis of type into ethane, propane, normal butane, isobutane, and pentanes plus. The chemical composition of these hydrocarbons is similar, yet their applications vary widely. Different types of natural gas liquids have different boiling points and are processed at different temperatures in a gas processing facility or refinery
Natural gas liquids are light hydrocarbons composed entirely of carbon and hydrogen molecules. They are dissolved in associated or non?associated natural gas in a hydrocarbon reservoir. The chemical composition of natural gas liquids (NGLs) is similar to molecular composition of natural gas and crude oil. Natural gas liquids are produced within a gas stream. Natural gas liquids are utilized in a variety of industries and in different applications. Natural gas liquids are commonly used as inputs/feedstock for petrochemical plants, fuel source for space heat and cooking, and also blended into vehicle fuel.
The global natural gas Liquids market has been segmented on the basis on geography into North America, Europe, Asia Pacific, Middle East, Africa, and Latin America. The Middle East held the highest share of global natural gas market, with around 40% share, in 2015. North America held the second-largest share of the global natural gas market with around 30% market share in 2015. Other regional markets for natural gas liquid such as Asia Pacific, Europe, Africa, and Latin America held less than 10% market share respectively.
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Ethane was the largest type segment of the global natural gas Liquids market, accounting for more than 45% of the global share in 2015. Ethane production increased due to its rising applications in petrochemical and other industries across the globe. Propane was the second-largest type segment of the global natural gas Liquids market, accounting for more than 45% of the global share in 2015. Propane is widely used in households for heating and cooking applications. Normal butane, isobutane, and pentanes plus are used as blended vehicle fuel, fuel for lighters, and various applications across different industries. Increasing use of natural gas liquids (NGLs) in petrochemical applications and growing use of shale gas resources for production have boosted the production of natural gas liquids across the globe. However, growth of the natural gas Liquids market is hampered by increasing use of alternatives of natural gas liquids (NGLs) such as naphtha. Decreasing natural gas prices would provide a potential opportunity for the growth of the natural gas Liquids market in the near future.
Some of the leading companies in the global natural gas Liquids market include BP Plc, Chesapeake Energy Corporation, ConocoPhillips Company, Exxon Mobil Corporation, Linn Energy LLC, Range Resources Corporation, Royal Dutch Shell Plc., SM Energy, Statoil ASA, and Swift Energy Company. The report provides an overview of these companies, followed by their financial revenues (on availability), business strategies, and recent developments.
The global natural gas Liquids market has been segmented as follows:
Global Natural Gas Liquids market: Type Analysis
- Ethane
- Propane
- Normal Butane
- Isobutane
- Pentanes Plus
Global Natural Gas Liquids market: Regional Analysis
North America
- U.S.
- Canada
- Mexico
Europe
- Norway
- Russia
- U.K.
- Netherlands
Asia Pacific
- Indonesia
- Australia
- India
- Rest of Asia Pacific
Middle East
- Qatar
- Iran
- Saudi Arabia
- U.A.E
- Rest of Middle East
Africa
- Algeria
- Nigeria
- Rest of Africa
Latin America
- Argentina
- Brazil
- Venezuela
- Rest of Latin America
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