About Natural Gas Liquids
Natural Gas Liquids are the components of natural gas that are separated from the gas state in the form of liquids. Natural Gas Liquids market has high growth prospects due to demand for various verticals such as demand of refineries for usage of NGLs for production of ethane or ethylene by steam cracking and rising demand of petrochemical plants. There has been significant rise in natural gas production with figure stood up to 10.0 billion cubic feet per day in United States alone in 2018. So, the future for natural gas liquids looks promising. Further, increasing demand at automobile industries and rising environmental concerns expected to drive the market over the forecasted period.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 6.8% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Natural Gas Liquids market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Royal Dutch Shell Plc. (The Netherlands), Chesapeake Energy Corporation (United States), ConocoPhillips Company (United States), SM Energy (United States), Exxon Mobil Corporation (United States), BP Plc (United Kingdom), Range Resources Corporation (United States) and Statoil ASA (Norway) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Swift Energy Company (United States), Linn Energy LLC (United States), ESAI Energy LLC (United States) and RBN Energy LLC (United States).
Segmentation Overview
AMA Research has segmented the market of Global Natural Gas Liquids market by Type (Propane, Ethane, Isobutene and Others), Application (Petrochemical Feedstock, Space Heating and Blend stock) and Region.
On the basis of geography, the market of Natural Gas Liquids has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Sales Channel, the sub-segment i.e. OEMs will boost the Natural Gas Liquids market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Collaboration and Tie Up Of Leading Players and Value Oriented Customers
Market Growth Drivers:
Rapid Industrialization and Urbanization Leads to Boost the Market and Increasing Demand of Automobile Industries.
Challenges:
Limitation Due To Strict Government Laws Are Anticipated To Challenge The Market. and Skilled Professionals required for Operation.
Restraints:
Side Effect Associated Within natural gas Liquids due to Leakage. and Adverse Impact as it Non-Renewable Sources of Energy
Opportunities:
Growing Investments towards Petrochemical Industries., Upsurge in Consumption of Products for Heating, Cooking Purposes. and Rising demand of Refineries.
Market Leaders and their expansionary development strategies
In December 2018, Easton Energy announced to acquire Gulf Coast Natural Gas Liquids Pipeline Systems from Williams Companies, Inc. This acquisition is beneficial in providing transport natural gas liquids from various supply sources to petrochemical consumers in Texas and Louisiana markets.
Key Target Audience
Natural Gas Liquids Manufacturers, Natural Gas Liquids Traders, End-Use Market Participants of Different Segments of Natural Gas Liquids, Government and Research Organizations, R&D Institutions and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.