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Natural Gas Liquids Market By Product, By Application: Global Opportunity Analysis and Industry Forecast, 2020-2030

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    Report

  • 270 Pages
  • April 2022
  • Region: Global
  • Allied Market Research
  • ID: 5640473
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.

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.
Frequently Asked Questions about the Global Natural Gas Liquid Market

What is the estimated value of the Global Natural Gas Liquid Market?

The Global Natural Gas Liquid Market was estimated to be valued at $16.9 billion in 2020.

What is the growth rate of the Global Natural Gas Liquid Market?

The growth rate of the Global Natural Gas Liquid Market is 5.4%, with an estimated value of $28.5 billion by 2030.

What is the forecasted size of the Global Natural Gas Liquid Market?

The Global Natural Gas Liquid Market is estimated to be worth $28.5 billion by 2030.

Who are the key companies in the Global Natural Gas Liquid Market?

Key companies in the Global Natural Gas Liquid Market include BP P.L.C, Chevron Corporation, ConocoPhillips Company, Devon Energy Corporation, Exxon Mobil Corporation, Lukoil, Occidental Petroleum Corporation, Range Resources Corporation and Shell Plc..

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
CHAPTER 4: NATURAL GAS LIQUIDS MARKET, BY PRODUCT
4.1 Overview
4.1.1 Market size and forecast
4.2 Ethane
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Propane
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Isobutene
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
4.5 Natural Gasoline
4.5.1 Key market trends, growth factors and opportunities
4.5.2 Market size and forecast, by region
4.5.3 Market analysis by country
CHAPTER 5: NATURAL GAS LIQUIDS MARKET, BY APPLICATION
5.1 Overview
5.1.1 Market size and forecast
5.2 Industrial
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Residential
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 Commercial
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
CHAPTER 6: NATURAL GAS LIQUIDS MARKET, BY REGION
6.1 Overview
6.1.1 Market size and forecast
6.2 North America
6.2.1 Key trends and opportunities
6.2.2 North America Market size and forecast, by Product
6.2.3 North America Market size and forecast, by Application
6.2.4 North America Market size and forecast, by country
6.2.4.1 U.S.
6.2.4.1.1 Market size and forecast, by Product
6.2.4.1.2 Market size and forecast, by Application
6.2.4.2 Canada
6.2.4.2.1 Market size and forecast, by Product
6.2.4.2.2 Market size and forecast, by Application
6.2.4.3 Mexico
6.2.4.3.1 Market size and forecast, by Product
6.2.4.3.2 Market size and forecast, by Application
6.3 Europe
6.3.1 Key trends and opportunities
6.3.2 Europe Market size and forecast, by Product
6.3.3 Europe Market size and forecast, by Application
6.3.4 Europe Market size and forecast, by country
6.3.4.1 Germany
6.3.4.1.1 Market size and forecast, by Product
6.3.4.1.2 Market size and forecast, by Application
6.3.4.2 France
6.3.4.2.1 Market size and forecast, by Product
6.3.4.2.2 Market size and forecast, by Application
6.3.4.3 Italy
6.3.4.3.1 Market size and forecast, by Product
6.3.4.3.2 Market size and forecast, by Application
6.3.4.4 Spain
6.3.4.4.1 Market size and forecast, by Product
6.3.4.4.2 Market size and forecast, by Application
6.3.4.5 U.K.
6.3.4.5.1 Market size and forecast, by Product
6.3.4.5.2 Market size and forecast, by Application
6.3.4.6 Rest of Europe
6.3.4.6.1 Market size and forecast, by Product
6.3.4.6.2 Market size and forecast, by Application
6.4 Asia-Pacific
6.4.1 Key trends and opportunities
6.4.2 Asia-Pacific Market size and forecast, by Product
6.4.3 Asia-Pacific Market size and forecast, by Application
6.4.4 Asia-Pacific Market size and forecast, by country
6.4.4.1 China
6.4.4.1.1 Market size and forecast, by Product
6.4.4.1.2 Market size and forecast, by Application
6.4.4.2 Japan
6.4.4.2.1 Market size and forecast, by Product
6.4.4.2.2 Market size and forecast, by Application
6.4.4.3 India
6.4.4.3.1 Market size and forecast, by Product
6.4.4.3.2 Market size and forecast, by Application
6.4.4.4 Australia
6.4.4.4.1 Market size and forecast, by Product
6.4.4.4.2 Market size and forecast, by Application
6.4.4.5 South Korea
6.4.4.5.1 Market size and forecast, by Product
6.4.4.5.2 Market size and forecast, by Application
6.4.4.6 Rest of Asia-Pacific
6.4.4.6.1 Market size and forecast, by Product
6.4.4.6.2 Market size and forecast, by Application
6.5 LAMEA
6.5.1 Key trends and opportunities
6.5.2 LAMEA Market size and forecast, by Product
6.5.3 LAMEA Market size and forecast, by Application
6.5.4 LAMEA Market size and forecast, by country
6.5.4.1 Brazil
6.5.4.1.1 Market size and forecast, by Product
6.5.4.1.2 Market size and forecast, by Application
6.5.4.2 Saudi Arabia
6.5.4.2.1 Market size and forecast, by Product
6.5.4.2.2 Market size and forecast, by Application
6.5.4.3 South Africa
6.5.4.3.1 Market size and forecast, by Product
6.5.4.3.2 Market size and forecast, by Application
6.5.4.4 Rest of LAMEA
6.5.4.4.1 Market size and forecast, by Product
6.5.4.4.2 Market size and forecast, by Application
CHAPTER 7: COMPANY LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Key developments
CHAPTER 8: COMPANY PROFILES
8.1 BP P.L.C
8.1.1 Company overview
8.1.2 Company snapshot
8.1.3 Operating business segments
8.1.4 Product portfolio
8.1.5 Business performance
8.1.6 Key strategic moves and developments
8.2 Chevron Corporation
8.2.1 Company overview
8.2.2 Company snapshot
8.2.3 Operating business segments
8.2.4 Product portfolio
8.2.5 Business performance
8.2.6 Key strategic moves and developments
8.3 ConocoPhillips Company
8.3.1 Company overview
8.3.2 Company snapshot
8.3.3 Operating business segments
8.3.4 Product portfolio
8.3.5 Business performance
8.3.6 Key strategic moves and developments
8.4 Devon Energy Corporation
8.4.1 Company overview
8.4.2 Company snapshot
8.4.3 Operating business segments
8.4.4 Product portfolio
8.4.5 Business performance
8.4.6 Key strategic moves and developments
8.5 Exxon Mobil Corporation
8.5.1 Company overview
8.5.2 Company snapshot
8.5.3 Operating business segments
8.5.4 Product portfolio
8.5.5 Business performance
8.5.6 Key strategic moves and developments
8.6 Lukoil
8.6.1 Company overview
8.6.2 Company snapshot
8.6.3 Operating business segments
8.6.4 Product portfolio
8.6.5 Business performance
8.6.6 Key strategic moves and developments
8.7 Occidental Petroleum Corporation
8.7.1 Company overview
8.7.2 Company snapshot
8.7.3 Operating business segments
8.7.4 Product portfolio
8.7.5 Business performance
8.7.6 Key strategic moves and developments
8.8 Range Resources Corporation
8.8.1 Company overview
8.8.2 Company snapshot
8.8.3 Operating business segments
8.8.4 Product portfolio
8.8.5 Business performance
8.8.6 Key strategic moves and developments
8.9 Saudi Arabian Oil Co.
8.9.1 Company overview
8.9.2 Company snapshot
8.9.3 Operating business segments
8.9.4 Product portfolio
8.9.5 Business performance
8.9.6 Key strategic moves and developments
8.10 Shell Plc.
8.10.1 Company overview
8.10.2 Company snapshot
8.10.3 Operating business segments
8.10.4 Product portfolio
8.10.5 Business performance
8.10.6 Key strategic moves and developments
LIST OF TABLES
Table 1. Global Natural Gas Liquids Market, by Product, 2020-2030, ($Million)
Table 2. Natural Gas Liquids Market Revenue, for Ethane, by Region, 2020-2030, ($Million)
Table 3. Natural Gas Liquids Market Ethane by Country, 2020-2030, ($Million)
Table 4. Natural Gas Liquids Market Revenue, for Propane, by Region, 2020-2030, ($Million)
Table 5. Natural Gas Liquids Market Propane by Country, 2020-2030, ($Million)
Table 6. Natural Gas Liquids Market Revenue, for Isobutene, by Region, 2020-2030, ($Million)
Table 7. Natural Gas Liquids Market Isobutene by Country, 2020-2030, ($Million)
Table 8. Natural Gas Liquids Market Revenue, for Natural Gasoline, by Region, 2020-2030, ($Million)
Table 9. Natural Gas Liquids Market Natural Gasoline by Country, 2020-2030, ($Million)
Table 10. Global Natural Gas Liquids Market, by Application, 2020-2030, ($Million)
Table 11. Natural Gas Liquids Market Revenue, for Industrial, by Region, 2020-2030, ($Million)
Table 12. Natural Gas Liquids Market Industrial by Country, 2020-2030, ($Million)
Table 13. Natural Gas Liquids Market Revenue, for Residential, by Region, 2020-2030, ($Million)
Table 14. Natural Gas Liquids Market Residential by Country, 2020-2030, ($Million)
Table 15. Natural Gas Liquids Market Revenue, for Commercial, by Region, 2020-2030, ($Million)
Table 16. Natural Gas Liquids Market Commercial by Country, 2020-2030, ($Million)
Table 17. Natural Gas Liquids Market, by Region, 2020-2030, ($Million)
Table 18. North America Natural Gas Liquids Market, by Product, 2020-2030, ($Million)
Table 19. North America Natural Gas Liquids Market, by Application, 2020-2030, ($Million)
Table 20. North America Natural Gas Liquids Market, by Country, 2020-2030, ($Million)
Table 21. U.S. Natural Gas Liquids Market by Product 2020-2030, ($Million)
Table 22. U.S. Natural Gas Liquids Market by Application 2020-2030, ($Million)
Table 23. Canada Natural Gas Liquids Market by Product 2020-2030, ($Million)
Table 24. Canada Natural Gas Liquids Market by Application 2020-2030, ($Million)
Table 25. Mexico Natural Gas Liquids Market by Product 2020-2030, ($Million)
Table 26. Mexico Natural Gas Liquids Market by Application 2020-2030, ($Million)
Table 27. Europe Natural Gas Liquids Market, by Product, 2020-2030, ($Million)
Table 28. Europe Natural Gas Liquids Market, by Application, 2020-2030, ($Million)
Table 29. Europe Natural Gas Liquids Market, by Country, 2020-2030, ($Million)
Table 30. Germany Natural Gas Liquids Market by Product 2020-2030, ($Million)
Table 31. Germany Natural Gas Liquids Market by Application 2020-2030, ($Million)
Table 32. France Natural Gas Liquids Market by Product 2020-2030, ($Million)
Table 33. France Natural Gas Liquids Market by Application 2020-2030, ($Million)
Table 34. Italy Natural Gas Liquids Market by Product 2020-2030, ($Million)
Table 35. Italy Natural Gas Liquids Market by Application 2020-2030, ($Million)
Table 36. Spain Natural Gas Liquids Market by Product 2020-2030, ($Million)
Table 37. Spain Natural Gas Liquids Market by Application 2020-2030, ($Million)
Table 38. U.K. Natural Gas Liquids Market by Product 2020-2030, ($Million)
Table 39. U.K. Natural Gas Liquids Market by Application 2020-2030, ($Million)
Table 40. Rest of Europe Natural Gas Liquids Market by Product 2020-2030, ($Million)
Table 41. Rest of Europe Natural Gas Liquids Market by Application 2020-2030, ($Million)
Table 42. Asia-Pacific Natural Gas Liquids Market, by Product, 2020-2030, ($Million)
Table 43. Asia-Pacific Natural Gas Liquids Market, by Application, 2020-2030, ($Million)
Table 44. Asia-Pacific Natural Gas Liquids Market, by Country, 2020-2030, ($Million)
Table 45. China Natural Gas Liquids Market by Product 2020-2030, ($Million)
Table 46. China Natural Gas Liquids Market by Application 2020-2030, ($Million)
Table 47. Japan Natural Gas Liquids Market by Product 2020-2030, ($Million)
Table 48. Japan Natural Gas Liquids Market by Application 2020-2030, ($Million)
Table 49. India Natural Gas Liquids Market by Product 2020-2030, ($Million)
Table 50. India Natural Gas Liquids Market by Application 2020-2030, ($Million)
Table 51. Australia Natural Gas Liquids Market by Product 2020-2030, ($Million)
Table 52. Australia Natural Gas Liquids Market by Application 2020-2030, ($Million)
Table 53. South Korea Natural Gas Liquids Market by Product 2020-2030, ($Million)
Table 54. South Korea Natural Gas Liquids Market by Application 2020-2030, ($Million)
Table 55. Rest of Asia-Pacific Natural Gas Liquids Market by Product 2020-2030, ($Million)
Table 56. Rest of Asia-Pacific Natural Gas Liquids Market by Application 2020-2030, ($Million)
Table 57. LAMEA Natural Gas Liquids Market, by Product, 2020-2030, ($Million)
Table 58. LAMEA Natural Gas Liquids Market, by Application, 2020-2030, ($Million)
Table 59. LAMEA Natural Gas Liquids Market, by Country, 2020-2030, ($Million)
Table 60. Brazil Natural Gas Liquids Market by Product 2020-2030, ($Million)
Table 61. Brazil Natural Gas Liquids Market by Application 2020-2030, ($Million)
Table 62. Saudi Arabia Natural Gas Liquids Market by Product 2020-2030, ($Million)
Table 63. Saudi Arabia Natural Gas Liquids Market by Application 2020-2030, ($Million)
Table 64. South Africa Natural Gas Liquids Market by Product 2020-2030, ($Million)
Table 65. South Africa Natural Gas Liquids Market by Application 2020-2030, ($Million)
Table 66. Rest of LAMEA Natural Gas Liquids Market by Product 2020-2030, ($Million)
Table 67. Rest of LAMEA Natural Gas Liquids Market by Application 2020-2030, ($Million)
Table 68. Bp P.L.C: Company Snapshot
Table 69. Bp P.L.C: Operating Segments
Table 70. Bp P.L.C: Product Portfolio
Table 71. Bp P.L.C: Net Sales
Table 72. Bp P.L.C: Key Stratergies
Table 73. Chevron Corporation: Company Snapshot
Table 74. Chevron Corporation: Operating Segments
Table 75. Chevron Corporation: Product Portfolio
Table 76. Chevron Corporation: Net Sales
Table 77. Chevron Corporation: Key Stratergies
Table 78. Conocophillips Company: Company Snapshot
Table 79. Conocophillips Company: Operating Segments
Table 80. Conocophillips Company: Product Portfolio
Table 81. Conocophillips Company: Net Sales
Table 82. Conocophillips Company: Key Stratergies
Table 83. Devon Energy Corporation: Company Snapshot
Table 84. Devon Energy Corporation: Operating Segments
Table 85. Devon Energy Corporation: Product Portfolio
Table 86. Devon Energy Corporation: Net Sales
Table 87. Devon Energy Corporation: Key Stratergies
Table 88. Exxon Mobil Corporation: Company Snapshot
Table 89. Exxon Mobil Corporation: Operating Segments
Table 90. Exxon Mobil Corporation: Product Portfolio
Table 91. Exxon Mobil Corporation: Net Sales
Table 92. Exxon Mobil Corporation: Key Stratergies
Table 93. Lukoil: Company Snapshot
Table 94. Lukoil: Operating Segments
Table 95. Lukoil: Product Portfolio
Table 96. Lukoil: Net Sales
Table 97. Lukoil: Key Stratergies
Table 98. Occidental Petroleum Corporation: Company Snapshot
Table 99. Occidental Petroleum Corporation: Operating Segments
Table 100. Occidental Petroleum Corporation: Product Portfolio
Table 101. Occidental Petroleum Corporation: Net Sales
Table 102. Occidental Petroleum Corporation: Key Stratergies
Table 103. Range Resources Corporation: Company Snapshot
Table 104. Range Resources Corporation: Operating Segments
Table 105. Range Resources Corporation: Product Portfolio
Table 106. Range Resources Corporation: Net Sales
Table 107. Range Resources Corporation: Key Stratergies
Table 108. Saudi Arabian Oil Co.: Company Snapshot
Table 109. Saudi Arabian Oil Co.: Operating Segments
Table 110. Saudi Arabian Oil Co.: Product Portfolio
Table 111. Saudi Arabian Oil Co.: Net Sales
Table 112. Saudi Arabian Oil Co.: Key Stratergies
Table 113. Shell plc.: Company Snapshot
Table 114. Shell plc.: Operating Segments
Table 115. Shell plc.: Product Portfolio
Table 116. Shell plc.: Net Sales
Table 117. Shell plc.: Key Stratergies
LIST OF FIGURES
Figure 1. Natural Gas Liquids Market Segmentation
Figure 2. Natural Gas Liquids Market, 2020-2030
Figure 3. Natural Gas Liquids Market, 2020-2030
Figure 4. Top Investment Pockets, by Region
Figure 5. Porter Five-1
Figure 6. Porter Five-2
Figure 7. Porter Five-3
Figure 8. Porter Five-4
Figure 9. Porter Five-5
Figure 10. Top Player Positioning
Figure 11. Natural Gas Liquids Market:Drivers, Restraints and Opportunities
Figure 11. Natural Gas Liquids Market, by Product, 2020 (%)
Figure 12. Comparative Share Analysis of Ethane Natural Gas Liquids Market, 2020-2030 (%)
Figure 13. Comparative Share Analysis of Propane Natural Gas Liquids Market, 2020-2030 (%)
Figure 14. Comparative Share Analysis of Isobutene Natural Gas Liquids Market, 2020-2030 (%)
Figure 15. Comparative Share Analysis of Natural Gasoline Natural Gas Liquids Market, 2020-2030 (%)
Figure 16. Natural Gas Liquids Market, by Application, 2020 (%)
Figure 17. Comparative Share Analysis of Industrial Natural Gas Liquids Market, 2020-2030 (%)
Figure 18. Comparative Share Analysis of Residential Natural Gas Liquids Market, 2020-2030 (%)
Figure 19. Comparative Share Analysis of Commercial Natural Gas Liquids Market, 2020-2030 (%)
Figure 20. Natural Gas Liquids Market by Region, 2020
Figure 21. U.S. Natural Gas Liquids Market, 2020-2030 ($Million)
Figure 22. Canada Natural Gas Liquids Market, 2020-2030 ($Million)
Figure 23. Mexico Natural Gas Liquids Market, 2020-2030 ($Million)
Figure 24. Germany Natural Gas Liquids Market, 2020-2030 ($Million)
Figure 25. France Natural Gas Liquids Market, 2020-2030 ($Million)
Figure 26. Italy Natural Gas Liquids Market, 2020-2030 ($Million)
Figure 27. Spain Natural Gas Liquids Market, 2020-2030 ($Million)
Figure 28. U.K. Natural Gas Liquids Market, 2020-2030 ($Million)
Figure 29. Rest of Europe Natural Gas Liquids Market, 2020-2030 ($Million)
Figure 30. China Natural Gas Liquids Market, 2020-2030 ($Million)
Figure 31. Japan Natural Gas Liquids Market, 2020-2030 ($Million)
Figure 32. India Natural Gas Liquids Market, 2020-2030 ($Million)
Figure 33. Australia Natural Gas Liquids Market, 2020-2030 ($Million)
Figure 34. South Korea Natural Gas Liquids Market, 2020-2030 ($Million)
Figure 35. Rest of Asia-Pacific Natural Gas Liquids Market, 2020-2030 ($Million)
Figure 36. Brazil Natural Gas Liquids Market, 2020-2030 ($Million)
Figure 37. Saudi Arabia Natural Gas Liquids Market, 2020-2030 ($Million)
Figure 38. South Africa Natural Gas Liquids Market, 2020-2030 ($Million)
Figure 39. Rest of LAMEA Natural Gas Liquids Market, 2020-2030 ($Million)
Figure 40. Top Winning Strategies, by Year
Figure 41. Top Winning Strategies, by Development
Figure 42. Top Winning Strategies, by Company
Figure 43. Product Mapping of Top 10 Players
Figure 44. Competitive Dashboard
Figure 45. Competitive Heatmap of Top 10 Key Players
Figure 46. Bp P.L.C.: Net Sales, ($Million)
Figure 47. Chevron Corporation.: Net Sales, ($Million)
Figure 48. Conocophillips Company.: Net Sales, ($Million)
Figure 49. Devon Energy Corporation.: Net Sales, ($Million)
Figure 50. Exxon Mobil Corporation.: Net Sales, ($Million)
Figure 51. Lukoil.: Net Sales, ($Million)
Figure 52. Occidental Petroleum Corporation.: Net Sales, ($Million)
Figure 53. Range Resources Corporation.: Net Sales, ($Million)
Figure 54. Saudi Arabian Oil Co. Net Sales, ($Million)
Figure 55. Shell PLC. Net Sales, ($Million)

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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