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North America Dominated The Global Natural Gas Liquids (NGLs) Market With Highest Market Share



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

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News Release: North America Dominated The Global Natural Gas Liquids (NGLs) Market With Highest Market Share
Submitted on: November 15, 2017 09:44:10 AM
Submitted by: dineshpatel
On behalf of: https://www.variantmarketresearch.com/
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