Industry Outlook and Trend Analysis
The Natural Gas Liquids Market was worth 6555.93 kilo barrels/day in the year 2014 and is expected to reach approximately 12516.52 kilo barrels/day by 2023, while registering itself at a compound annual growth rate (CAGR) of 7.45% during the forecast period. The natural gas liquids market holds a considerable degree for development. Its contribution to the worldwide market is anticipated to increase fundamentally finished the traverse of the following years. Recent revelations and developments have made huge open doors for various players to enter the petroleum gas fluids market. The major factors in charge of driving the natural gas liquids market are expanding requirement from petrochemical plants; expanding request from refineries, and demand from residential and industrial customers. A portion of alternate factors in charge of driving this market are advancement in the natural gas business and the expanding usage of related gas. Restraining elements to this market are absence of infrastructure to deal with NGLs and extreme rivalry from other energy creating products, for example, biogas, methane gas, and some more.
Product Outlook and Trend Analysis
On the basis of product the market is segmented into Isobutane, Ethane and Propane. Of these, ethane held the biggest share of 45 percent in the market in 2014. The shale revolution observed in the United States has activated change in perspective in the worldwide natural gas liquids market. This built up the United States as a main exporter of ethane in the worldwide market.
Regional Outlook and Trend Analysis
Geographically, Middle East and North America rose as the most alluring markets for natural gas liquid in 2015. While the Middle East held the biggest share in the general market in 2015, North America is ready to surge at the speediest CAGR amid the figure period. In North America, the United States furthermore, Canada developed as the biggest makers of gaseous petrol fluids in 2014. The United States is currently witnessing shale gas boom because of which the generation of natural gas has essentially expanded in the nation. Residential heating and petrochemical enterprises have risen as the major application fragments of natural gas liquid in the United States In Canada, production and sale of natural gas liquids are supported by the existence of built up infrastructure. Asia Pacific is constantly expanding in its creation and preparing capacity of natural gas. A portion of the main markets for natural gas liquids in Asia Pacific incorporate China, India, Indonesia, and Australia.
The leading players in the market are ExxonMobil, Royal Dutch Shell, SM Energy, Statoil, Range Resources, Chesapeake Energy and ConocoPhillips. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Natural Gas Liquids Market is segmented as follows-
Other Product Types
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?