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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Increasing demand in petrochemical plants and refineries, as well as rise in utilization of associated gas, and replacement of wetter non-associated gas with traditional dry gas are some of the aspects driving the global natural gas liquids. However, high rivalry from other energy producing products such as methane gas, bio gas, and others may decline the market from growing. Moreover, progress in the infrastructure for natural gas liquids are expected to present potential growth opportunities for the market in the forecast time.

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The global natural gas liquids market is classified into product type and geography. Product type segment comprises of ethane, isobutene, propane, and others. Ethane segment accounted for the major market share in 2016, driven by its rising demand in refineries for heating. Also, the isobutene segment is anticipated to grow at the fastest CAGR, in the forecast period from 2016 to 2024.

North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the major geographical segments of the global natural gas liquids market. North America dominated the largest market share in 2016, and is probable to endure its dominance throughout the forecast period, due to increased demand from industrial & residential consumers. In terms of growth, Asia-Pacific is projected to raise at the fastest CAGR in the forecast period 2016-2024. The high growth is majorly seen owing to increasing energy demand in nations such as India and China.

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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

About Variant Market Research

Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.

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