The global Natural gas liquid market was valued at $16.9 billion in 2020, and is projected to reach $28.5 billion by 2030, growing at a CAGR of 5.4% from 2020 to 2030.
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 forheat, in cooking, as an energy source, laundry dryers, portable stoves, and in motor vehicles. In addition, Natural gas liquids are the heavier hydrocarbons separated from raw natural gas to maintain the dew point and heating value of the finished products. The natural gas liquids (NGL) yield a source of revenue and are often sold separately like lighter NGL fractions (ethane, propane and butane) as refinery feedstock and heavier HCs as gasoline-blends.
The key factors responsible for driving natural gas liquids markets are increasing demand in petrochemical plants; increasing demand in refineries, high demand from industrial and residential consumers. Some of the other factors responsible for driving this market are developments in naturalgas business; increasing utilization ofassociatedgas; traditional dry gas, is being replaced by wetternon-associated gas insome countries.
Restraining factors to this market are lack of infrastructure to handle NGLs, tough competition from other energy producing products such as methane gas, bio gas, and many more. The rapid growth of NGL production has also outpaced the development of supporting infrastructure. NGLs are expensive to transport and handle-requiring high pressures and low temperatures to keep them in a liquid state for shipment. A network of processing plants and distribution methods is necessary to move NGLs from well to market. Moreover, the surplus of NGLs brought upon by domestic production growth is increasing the need for infrastructure to aid in the exportation of NGLs internationally and the storage of NGLs domestically. The opportunity lies in developing the infrastructure for NGLs.
The global natural gas liquids market is segmented on the basis of product and application. By product, it is classified as ethane, propane, isobutene and natural gasoline. By application, it is categorized as industrial, residential, and commercial. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include BP P.L.C., Chevron Corporation, ConocoPhillips Company, Devon Energy Corporation, Exxon Mobil Corporation, Lukoil, Occidental Petroleum Corporation, Range Resources Corporation, Saudi Arabian Oil Co. and Shell Plc.
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 forheat, in cooking, as an energy source, laundry dryers, portable stoves, and in motor vehicles. In addition, Natural gas liquids are the heavier hydrocarbons separated from raw natural gas to maintain the dew point and heating value of the finished products. The natural gas liquids (NGL) yield a source of revenue and are often sold separately like lighter NGL fractions (ethane, propane and butane) as refinery feedstock and heavier HCs as gasoline-blends.
The key factors responsible for driving natural gas liquids markets are increasing demand in petrochemical plants; increasing demand in refineries, high demand from industrial and residential consumers. Some of the other factors responsible for driving this market are developments in naturalgas business; increasing utilization ofassociatedgas; traditional dry gas, is being replaced by wetternon-associated gas insome countries.
Restraining factors to this market are lack of infrastructure to handle NGLs, tough competition from other energy producing products such as methane gas, bio gas, and many more. The rapid growth of NGL production has also outpaced the development of supporting infrastructure. NGLs are expensive to transport and handle-requiring high pressures and low temperatures to keep them in a liquid state for shipment. A network of processing plants and distribution methods is necessary to move NGLs from well to market. Moreover, the surplus of NGLs brought upon by domestic production growth is increasing the need for infrastructure to aid in the exportation of NGLs internationally and the storage of NGLs domestically. The opportunity lies in developing the infrastructure for NGLs.
The global natural gas liquids market is segmented on the basis of product and application. By product, it is classified as ethane, propane, isobutene and natural gasoline. By application, it is categorized as industrial, residential, and commercial. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include BP P.L.C., Chevron Corporation, ConocoPhillips Company, Devon Energy Corporation, Exxon Mobil Corporation, Lukoil, Occidental Petroleum Corporation, Range Resources Corporation, Saudi Arabian Oil Co. and Shell Plc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the natural gas liquids market analysis from 2020 to 2030 to identify the prevailing natural gas liquids market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the natural gas liquids market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global natural gas liquids market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product
- Ethane
- Propane
- Isobutene
- Natural Gasoline
By Application
- Residential
- Commercial
- Industrial
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- U.K.
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- BP P.L.C
- Chevron Corporation
- ConocoPhillips Company
- Devon Energy Corporation
- Exxon Mobil Corporation
- Lukoil
- Occidental Petroleum Corporation
- Range Resources Corporation
- Saudi Arabian Oil Co.
- Shell Plc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: NATURAL GAS LIQUIDS MARKET, BY PRODUCT
CHAPTER 5: NATURAL GAS LIQUIDS MARKET, BY APPLICATION
CHAPTER 6: NATURAL GAS LIQUIDS MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Natural Gas Liquids Market,' the natural gas liquids market was valued at $16.9 billion in 2020, and is estimated to reach $28.5 billion by 2030, growing at a CAGR of 5.4% from 2021 to 2030.Natural gas liquids (NGLs) are a group of hydrocarbons that includes ethane, propane, butane, isobutane, and natural gasoline. NGLs are differentiated from one another by the number of carbon atoms in their molecular chain. They have a wide variety of applications from specialized fuels (e.g., propane, butane) to petrochemical feedstocks for making products like plastic and fertilizers.
NGLs are extracted as byproducts in the production of natural gas and oil. In addition, of these two sources, natural gas processing is by far the most significant, contributing over 90% of NGL production in 2018. When extracted from a well, natural gas is mixed with other hydrocarbonand various impurities. In order for the natural gas to be marketable, the NGLs and impurities must then be removed. The separated NGLs may then be discarded or undergo further processing in order to be sold. The relatively high value of NGLs combined with the rise in natural gas production has led to a rapid rise in NGL production as it has become more economical for processors to sell the separated NGLs. The U.S. is by far the largest producer of NGLs in the world, accounting for more than a third of global production. Domestic NGL production has more than doubled in the 10 years since 2008, reaching 1,381 million barrels in 2017. Ethane and propane are the two most prevalent NGLs, and together they account for more than 70% of all domestic production. Canada, Japan, and China are currently the largest importers of U.S. NGLs.
The key factors responsible for driving natural gas liquids markets are increase in demand in petrochemical plants; surge demand in refineries, and high demand from industrial & residential consumers. Some of the other factors responsible for driving the natural gas liquids market are developments in natural gas business; and the increased utilization of associated gas.
Restraining factors to this market are lack of infrastructure to handle NGLs, and tough competition from other energy producing products such as methane gas, bio gas, and many more. The opportunity lies in developing the infrastructure for NGLs.
The natural gas liquids market is segmented on the basis of product and application. By product, it is classified as ethane, propane, isobutene, and natural gasoline. By application, it is categorized as Industrial, residential, and commercial. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The key players profiled in this report include BP P.L.C., Chevron Corporation, ConocoPhillips Company, Devon Energy Corporation, Exxon Mobil Corporation, Lukoil, Occidental Petroleum Corporation, Range Resources Corporation, Saudi Arabian Oil Co. and Shell Plc.
The report focuses on the global natural gas liquids industry and the major products and applications where Natural gas liquids are deployed. It further highlights numerous factors that influence the market growth, such as forecast, trends, drivers, restraints, opportunities, and roles of different key players that shape the market. The report focuses on the overall demand for Natural gas liquids in various countries, presenting data in terms of both value and volume. The revenue is calculated by proliferating the volume by region-specific prices, considering the region-wise differentiated prices.
IMPACT OF COVID-19 ON THE GLOBAL NATURAL GAS LIQUID MARKET
- Natural gas liquid has a significant share in chemical & material industry.The chemicals and materials sector spans applications from automotive to medical devices to institutional cleaners. 96 percent of manufactured goods contain products of the chemical industry. A sector with such broad economic exposure is expected, therefore, to be affected by the initial and sustained changes resulting from COVID-19. Depending upon the course of the pandemic and the impact on economic conditions, chemicals and materials companies can expect threats to vulnerable business models and significant opportunities for growth and transformation.
- Sales of natural gas liquids is directly proportional to the demand of oil & gas production. Oil & gas production gotlimited impact by lockdown imposed due to the COVID-19 outbreak and recorded a huge decline in crude prices in 2020 due to less storage and resumed overflow production, However, the continued upstream activities has not impacted the production of natural gas liquids but there is sluggish impact on sales of natural gas liquids
- COVID-19 impacted almost all industries by hindering various industrial operations and disrupting the supply chain. Maximum companies halted their operation due to less workforce. However, there is a sluggish decline in the global natural gas liquids market due to IMPACT OF COVID-19.
- Furthermore, import and export activities were significantly impacted, which, in turn, adversely affected the industries using natural gas liquids and thereby affecting the global natural gas liquids market.
- According to the UNIDO, 30.0%-70.0% of pre-COVID-19 workforce of various industries, such as electrical and other third-party vendors migrated to their hometowns, due to uncertainties and loss of income during the lockdown. This unavailability or less availability of workforce is expected to directly affect the production and manufacturing activities, thereby resulting in decline in petrochemical industry which in turn to decline the growth of the natural gas liquid market during the forecast period.
Key findings of the Study
- On the basis of product, the ethane segment emerged as the global leader in 2020 and is anticipated to hold the largest natural gas liquids market size during the forecast period.
- On the basis of application, industrial segment emerged as the global leader in 2020 and is anticipated to be the largest markets during the forecast period.
- On the basis of region, the natural gas liquids market share is highly attributed to North America and is projected to maintain the same during the natural gas liquids market forecast period.
Companies Mentioned
- BP P.L.C
- Chevron Corporation
- ConocoPhillips Company
- Devon Energy Corporation
- Exxon Mobil Corporation
- Lukoil
- Occidental Petroleum Corporation
- Range Resources Corporation
- Saudi Arabian Oil Co.
- Shell Plc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 270 |
| Published | April 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 16.9 billion |
| Forecasted Market Value ( USD | $ 28.5 billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
