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Natural Gas Liquids Market size to exceed 14 mbl/day by 2025
- Published Date: May 2, 2019
Natural Gas Liquids Market size is set to exceed 14 mbl/day by 2025, as reported in the latest study by Global Market Insights, Inc
Increasing demand for refined products coupled with rapid expansion of commercial & residential establishments will foster the natural gas liquid market growth. Rising concerns toward energy efficiency has led to the introduction of various targets, norms and directives by respective government authorities which will propel the industry outlook. Furthermore, population growth, improving standard of living, urbanization and industrialization across the emerging economies will complement the business landscape.
UK natural gas liquid market is anticipated to exceed an annual consumption of 0.15 million barrels per day by 2025. Increasing investments toward the development of service sector along with the rising demand for space heating will complement the business outlook. Structural shifts in the economy, substantial progress on energy efficiency and changing consumption patterns will provide favorable opportunities for the industry players for expansion. Furthermore, increasing stringency toward carbon emissions along with favorable government policies pertaining to sustainable energy sources will positively influence the industry dynamics.
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The increasing consumption of liquid hydrocarbons for heating, burning and cooking purposes coupled with the rising demand for automotive products including flooring, tires, belts and mattings from both aftermarket and OEM will stimulate the natural gas liquid market share. Escalating investments toward energy efficient sources favored by shifting regulatory policies toward energy optimization will encourage the product adoption. Furthermore, increasing adoption of propane as a cooking fuel across emerging nations will complement the business landscape.
Browse key industry insights spread across 190 pages with 217 market data tables & 33 figures & charts from the report, “Natural Gas Liquid Market Size By Product (Ethane, Propane, Butane, Pentane Plus), By Application (Petrochemical Feedstock, Space Heating, Blend stock) Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
The butane natural gas liquid market accounted for over 10% in 2018. Increasing demand for NGL as a feedstock for chemical industries coupled with its rising use across petrochemical & transportation sector will fuel the industry growth. Introduction of stringent emission norms by respective government authorities along with growing need for efficient & clean fuel will positively influence the product penetration. Furthermore, up surge in demand for LPG owing to its escalating adoption as domestic fuel, predominantly across Africa and Asia Pacific region will complement the business outlook.
Increasing focus toward self-sufficiency & national energy security and growing utilization of liquid hydrocarbons in the energy mix will boost the Asia Pacific natural gas liquid market share. Development of industrial base including manufacturing and refineries coupled with favorable outlook toward petrochemical industry will complement the business landscape. Furthermore, the rising demand for synthetic rubber, polypropylene & polyethylene for manufacturing tires, plastics and various other products along with rising demand for gasoline as a driving fuel for automotive will encourage the product penetration.
Lower electricity costs, limited space heating expenses, reducing dependence on foreign countries for energy imports and declining emissions from industries are the few underline parameters which will fuel the natural gas liquid market size. Growing demand for effective & energy efficient systems along with rising disposable income will positively impact the industry growth. Furthermore, high replacement potential, reduced carbon footprint and its extensive applications across various sectors will encourage the product penetration.
Eminent industry participants operating across natural gas liquid market includes Chevron, Royal Dutch Shell, Qatar Petroleum, Canadian Natural Resources, Riveria, ConocoPhilips, Gazprom, Lukoil, Total, Petrobras, Equinor, Eni, Devon, Rosneft, BP, Exxon and Range Resources.
Natural gas liquid market research report includes in-depth coverage of the industry with estimates & forecast in terms of Mbl/day from 2014 to 2025, for the following segments:
Natural Gas Liquid Market, By Product
- Pentanes Plus
Natural Gas Liquid Market, By Application
- Petrochemical Feedstock
- Space Heating
The above information is provided on a regional & country basis for the following:
- North America
- Asia Pacific
- South Korea
- Middle East & Africa
- Saudi Arabia
- Latin America