Global Natural Gas Liquids (NGLs) Market Report, published by Variant Market Research, forecast that the global market is expected to reach 13,229 kilo barrels/day by 2024 from 7,793 kilo barrels/day in 2016, growing at a CAGR of 6.8% from 2016 to 2024. By geography, Asia-Pacific and Rest of the World (RoW) are expected to grow at a CAGR of 7.9% and 7.1%, respectively, during the forecast period.

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Growing demand in petrochemical plants and refineries, coupled with rise in utilization of associated gas are the primary key factors driving the global natural gas liquids market. Additionally, replacement of drizzlier non-associated gas with traditional dry gas has also augmented the growth of the market. However, high competition from other energy producing products such as methane gas, bio gas, and others may hamper the growth of the market. Moreover, development in the infrastructure for natural gas liquid is likely to gain significant impetus over the forthcoming years.
Product type and geography are the major classifications of the global natural gas liquids market. Product type comprise propane, ethane, isobutene, and others. In 2016, ethane segment dominated the market with largest share, driven by its increasing demand in refineries for heating. However, the isobutene segment is anticipated to raise at the fastest CAGR during the forecast period 2016-2024.

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North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the various geographical classification of the global natural gas liquids market. In 2016, North America dominated the market with largest share, and is projected to endure its dominance during the forecast period, due to increased demand from residential and industrial consumers. In terms of growth, Asia-Pacific is expected to grow at the fastest CAGR during the forecast period 2016-2024. The high growth is mainly seen due to increasing energy demand in countries such as India and China.

Major players in the natural gas liquids market include, Royal Dutch Shell Plc., ConocoPhillips Company, SM Energy, Exxon Mobil Corporation, Chesapeake Energy Corporation, Range Resources Corporation, Linn Energy LLC, BP Plc, Swift Energy Company, and Statoil ASA, among others.

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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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