Natural Gas Liquids Market Overview:
The global natural gas liquids market size is expected to reach 11,468 kilo barrels/day by 2022 from 7,306 kilo barrels/day in 2015 with a CAGR of 6.67% from 2016 to 2022. The natural gas liquids market holds a substantial scope for growth. Its contribution to the global market is expected to increase significantly over the span of the next six years. Recent discoveries and innovations have created vast opportunities for numerous players to enter the natural gas liquids market.
The key factors responsible for driving the natural gas liquids market are increasing demand from petrochemical plants; increasing demand from refineries, and high demand from industrial and residential consumers. Some of the other factors responsible for driving this market are development in the natural gas business and the increasing utilization of associated gas.
Primary Respondents Split
Restraining factors to this market are lack of infrastructure to handle NGLs and tough competition from other energy producing products such as methane gas, biogas, and many more. The opportunity lies in developing the infrastructure for NGLs.
The global natural gas liquids market is segmented based on product type and geography. According to product type, the market is categorized into ethane, propane, isobutene, and others, which include normal butane, pentane, and pentane plus. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific market is one of the developing markets and is expected to witness a high growth rate since energy demand in the Asia-Pacific region has increased more than expected.
China and India are the countries whose demand has increased at an unexpected rate and in the future the natural gas liquids market can be a big market in these countries, while the natural gas liquids market in Australia is expected to grow at a CAGR of 7.81% during the forecast period.
Australia Natural Gas Liquids Market Size, 2014-2022 (Kilo barrels/day)
Top Investment Pockets:
There is a high demand for natural gas liquids (NGLs) products in the residential sector, petrochemical plants refineries, and various industries such as the food industry, automobile industry, and packaging industry, among others. NGLs products have wide usage such as fuel in furnaces for heating, in cooking, as an energy source for water heaters, laundry dryers, barbecues, portable stoves, and motor vehicles. There is a high demand in refineries for usage of NGLs for production of ethane or ethylene by steam cracking. Refineries primarily use isobutane to enhance the octane number of motor gasoline. Isobutane can also be used as lightning fuel for a common lighter or butane torch and is sold bottled as a fuel for cooking and camping. Normal butane can be used for gasoline blending as a fuel gas, single or mixed with propane, and as a feedstock for the manufacturing of ethylene and butadiene, which are the key ingredients of synthetic rubber. Pentanes are used as ingredient in some pesticides.
Top Investment Pockets
Top Impacting Factors:
1.High demand in petrochemicals plants
Petrochemical plants are one of the major market share holders in the usage of NGLs products. There has been an increase in demand for NGLs products over the years as NGLs products are used for a number of applications such as usage of propane as a feedstock for production of ethylene and propylene, which is further processed to make plastics. Furthermore, normal butane when mixed with propane is used to make ethylene and butadiene, which are further used to make synthetic rubber. Synthetic rubber is used in the automotive industry for tires, door and window profiles, belts, flooring, and matting.
2.High residential usage of NGLs products
With increasing standards of living and environmental concerns, the usage of NGLs products is on the rise. Propane and butane is used domestically for burning, heating, cooking, and boiling . Propane is used as a propellant in aerosol sprays, shaving creams, and air fresheners. Isobutanes is used in refrigerants and in common lighters for cooking.
3.Rising demand in refineries
There is a constant rise in the demand for NGLs products in refineries. The primary NGLs products are used in refineries to convert ethane to ethylene by steam cracking Propane, which is produced in small quantities in refineries as a by-product, is used for cracking petroleum into gasoline. Due to rising environmental concerns, there is an increase in demand for isobutane primarily used by refineries to increase the octane number of motor gasoline to enhance its quality.
Top Winning Strategies:
Acquisition & merger strategy largely drives the natural gas liquids market. Moreover, expansions, agreements and partnerships are some of the other main strategies adopted by key players to sustain in the competitive market.
Top Winning Strategies
Top market players profiled in natural gas liquids industry report include Royal Dutch Shell Plc., Chesapeake Energy Corporation, ConocoPhillips Company, SM Energy, Exxon Mobil Corporation, BP Plc, Range Resources Corporation, Statoil ASA, Swift Energy Company, and Linn Energy LLC.
Other prominent market players (not profiled in this report) include ESAI Energy LLC, RBN Energy LLC, Eni SpA, Anadarko Petroleum Corporation, Canadian Natural Resources Limited, Devon Energy Corporation, Encana Corporation, Williams Companies, Inc., Chevron Corporation, Gas Liquid Engineering Ltd, Alkcon Corporation, and Hone Propane.
KEY BENEFITS FOR STAKEHOLDERS:
- This report gives a detailed analysis about dynamic changes in the global natural gas liquids market from various perspectives.
- This report provides deep insights about the various opportunities present in the natural gas liquids market.
- Report provides details about the positioning of the natural gas liquids market in different geographical segments.
- This report entails the detailed quantitative analysis of current market and estimations through 2014-2022 that assist in identifying the prevailing market opportunities to capitalize on the global natural gas liquids market.
- Comprehensive analysis on factors that are driving and restraining growth of the natural gas liquid market are included.
NATURAL GAS LIQUIDS MARKET KEY SEGMENTS:
By Product Types:
Others (Normal butane, pentane, and pentane plus)
Rest of Europe
Rest of Asia-Pacific