Natural Gas Liquid Market Size- By Product, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2032

Natural Gas Liquid Market Size- By Product, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2032

Global Natural Gas Liquid Market Overview

According to SPER Market Research, the Global Natural Gas Liquid Market is estimated to reach USD 32.65 billion by 2032 with a CAGR of 5.64%. Natural gas liquids (NGLs) are a collection of hydrocarbons that are typically present in natural gas deposits or linked to oil production. NGLs comprise ethane, propane, butane, isobutane, and pentane, and are isolated from natural gas or crude oil through a process called fractionation. NGLs have various applications, such as serving as feedstocks for petrochemical production, including the production of plastics, synthetic rubber, and other chemicals. They can also be utilized as fuel for heating and cooking, as well as transportation fuel for vehicles that run on compressed natural gas (CNG) or liquefied petroleum gas (LPG).

Impact of COVID-19 on the Global Natural Gas Liquid Market

COVID-19 outbreak and the resumption of overflow production, petroleum prices fell dramatically in 2020. Nonetheless, continuous upstream activities have had no effect on natural gas liquids production, but have had a slow influence on natural gas liquids sales. COVID-19 is a global public health emergency that has affected practically every industry, and the long-term effects are expected to have an impact on the growth of many end-use industries during the forecast period. This current research expands the research framework to include fundamental COVID-19 concerns and potential next steps.

Scope of the Report:

Report Metric Details
Market size available for years 2019-2032
Base year considered 2021
Forecast period 2022-2032
Segments covered

By Product, By Application

Regions covered Asia-Pacific, Europe, Middle East and Africa, North America, Latin America

Companies Covered 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.

Global Natural Gas Liquid Market Segmentation:


By Product: Based on the Product, Global Natural Gas Liquid Market is segmented as; Ethane, Isobutene, Natural Gasoline, Propane.

By Application: Based on the Application, Global Natural Gas Liquid Market is segmented as; Blend stock, Commercial, Industrial, Petrochemical Feedstock, Residential, and Space Heating.

By Region: By Region, the study provides market insights into Asia-Pacific, Europe, Latin America, Middle East and North America. North America dominated the global Natural gas liquids market and is projected to remain the fastest-growing segment during the forecast period.