Natural Gas Liquid Market

Natural Gas Liquid (NGL) Market Overview:

As per MRFR analysis, the Natural Gas Liquid (NGL) Market Size was estimated at 23.38 (USD Billion) in 2024. The Natural Gas Liquid (NGL) Market Industry is expected to grow from 24.72 (USD Billion) in 2025 to 40.71 (USD Billion) till 2034, at a CAGR (growth rate) is expected to be around 5.70% during the forecast period (2025 - 2034). Rapid urbanisation and industrialisation, as well as rising need for space heating are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Natural Gas Liquid (NGL) Market Trends

• Growing government backing for NGL usage drives market growth.

Market CAGR for natural gas liquid (NGL) is being driven by the rising government backing for NGL usage. The Mexican Energy Regulatory Commision granted Walmart a 30-year commision to provide propane to customers in six Mexican state towns. Through an extended petrochemicals diversification programme, the government of Alberta, Canada, has made efforts to increase ethane supplies through a combination of loan guarantees, royalty credits, and grants. These efforts, when combined with a partial upgrade programme, are likely to attract more than USD 10 billion in private investment. Furthermore, in September 2019, the Saudi government launched additional measures to reduce subsidies for needs such as water and energy. As a result, the cost of ethane increased by 2.33 times the cost of subsidies. However, this had little effect on demand for product cuts, and the hikes were well received. During the forecast period, such factors will drive market expansion.

Additionally, with rising living standards and environmental concerns, the use of NGLs products is increasing. NGLs such as propane and butane are commonly utilised as a fuel in furnaces for heating and cooking, as well as an energy source for heating systems, washing dryers, grills, and portable stoves. The increased consumption of such goods for cooking, heating, and burning is likely to boost the natural gas liquid industry.

Despite relative stability between 2019 and 2020, CO2 emissions increased by 1.5% in 2020. According to the IEA, the transportation sector accounted for around eight gigatonnes of CO2 in 2019, accounting for roughly one-quarter of overall emissions. As a result, NGLs have seen widespread use as a source of energy in a variety of industries. According to Technavio, worldwide autogas consumption would climb from 27.01 million tonnes in 2020 to 29.79 million tonnes by 2032. Furthermore, LPG is widely used in the residential sector as well as for recreation in recreational vehicles, boats, and caravans.

For instance, in May 2019, India's Pradhan Mantri Ujjwala Yojana was launched to provide new and free LPG connections to women from extremely impoverished homes. Thus, driving the Natural Gas Liquid (NGL) Market revenue.

Natural Gas Liquid (NGL) Market Segment Insights:

Natural Gas Liquid (NGL) Product Insights

The Natural Gas Liquid (NGL) Market segmentation, based on product includes Ethane, Propane, Isobutene, and Natural Gasoline. The ethane category is expected to dominate the market over the estimated period. Because to its growing use in the petrochemical sector, the development of large-scale ethylene crackers, and greater investment in downstream industries. Aside from that, the growing use of ethane as a feedstock to produce ethylene, which is a key component in the production of resins, plastics, and a number of other industrial goods, will move the market forwards. Ethanol is also commonly used to manufacture personal care items like as scents and sprays, which will aid in market expansion in the following year.

Natural Gas Liquid (NGL) Application Insights

The Natural Gas Liquid (NGL) Market segmentation, based on application, includes Industrial, Residential And Commercial. In 2022, the industrial segment dominated the worldwide Natural gas liquids market and is expected to remain the fastest-growing segment during the forecast period. This is owing to increased urbanisation and industrialisation. Furthermore, growing economies increase energy demand in general, particularly for transporting goods and resources from producers to consumers.

Figure 1: Natural Gas Liquid (NGL) Market, by Application, 2024 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Natural Gas Liquid (NGL) Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. Over the anticipated period, the North American region is expected to lead the market, because to the rapid expansion of the shale gas sector, low natural gas liquids costs, and reduced reliance on other nations for energy imports. Aside from that, supply cost savings, currency exchange rate adjustments, and product monetization will all contribute to market growth in the region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Natural Gas Liquid (Ngl) Market Share By Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Natural Gas Liquid (NGL) Market accounts for the second-largest market share due to the rising population is a major factor influencing the region's power generation market. Further, the German Natural Gas Liquid (NGL) Market held the largest market share, and the UK Natural Gas Liquid (NGL) Market was the fastest growing market in the European region

The Asia-Pacific Natural Gas Liquid (NGL) Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to growing population, as well as advancements in new technologies and goods, are expected to make this region a suitable location for the development of liquified gas in the next years. Moreover, China’s Natural Gas Liquid (NGL) Market held the largest market share, and the Indian Natural Gas Liquid (NGL) Market was the fastest growing market in the Asia-Pacific region.

Natural Gas Liquid (NGL) Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Natural Gas Liquid (NGL) Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Natural Gas Liquid (NGL) Industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Natural Gas Liquid (NGL) industry to benefit clients and increase the market sector. In recent years, the Natural Gas Liquid (NGL) industry has offered some of the most significant advantages to medicine. Major players in the Natural Gas Liquid (NGL) Market, including Exxon Mobil Corporation, Lukoil Occidental Petroleum Corporation, Range Resources Corporation, Saudi Arabian Oil Co., and Shell Plc. and others, are attempting to increase market demand by investing in research and development operations.

Oneok, Inc. is a Tulsa, Oklahoma-based American diversified firm principally focused on the natural gas industry. The corporation is a member of the Fortune 500 and the S&P 500. [6] Oneok was created in 1906 as Oklahoma Natural Gas Company, but in December 1980 it changed its name to Oneok. As a result of the 2005 acquisition of Koch Industries' natural gas assets, it also possesses significant natural gas liquids (NGL) infrastructure. Oneok's Energy Services division is largely responsible for marketing natural gas and related services across the United States. Energy Services, which earns more than 84 percent of its revenue through physical marketing, increased its operating income by $26.5 million. In April 2019, ONEOK, Inc. announced intentions to build a 75-mile-long natural gas liquids (NGL) pipeline that will connect the northern segment of the Bakken NGL Pipeline to a third-party natural gas processing plant in eastern Williams County, North Dakota. The investment will be in the neighbourhood of $100 million.

Kinder Morgan, Inc. is one of North America's leading energy infrastructure firms. The corporation specialises in the ownership and management of oil and gas pipelines and terminals. Kinder Morgan owns or operates roughly 83,000 miles (134,000 km) of pipelines and 143 terminals. Natural gas, liquefied natural gas, ethanol, biodiesel, hydrogen, refined petroleum products, crude oil, carbon dioxide, and other commodities are transported by the company's pipelines. At their terminals, Kinder Morgan also stores or handles a number of products and resources such as gasoline, jet fuel, ethanol, coal, petroleum coke, and steel. In April 2019, Kinder Morgan, the lead developer for the Gulf Coast Express Pipeline and the Permian Highway Pipeline, confirmed its plans for a third project after reaching the halfway point in the construction of two projects that will transport natural gas from West Texas' Permian Basin and southeastern New Mexico to Corpus Christi and Houston, respectively.

Key Companies in the Natural Gas Liquid (NGL) market include

• BP PL.C.
• Chevron Corporation
• ConocoPhillips Company
• Devon Energy Corporation
• Exxon Mobil Corporation
• Lukoil
• Occidental Petroleum Corporation
• Range Resources Corporation
• Saudi Arabian Oil Co.
• Shell PIc

Natural Gas Liquid (NGL)Industry Developments

In April 2019,Hess Midstream Partners LP announced plans to increase natural gas processing capacity at the Toga gas facility by 150 million cubic feet per day, bringing total processing capacity north of the Missouri River to 400MMcf/d.

In March 2023,Saudi Aramco announced record profits of $161 billion as gasoline prices skyrocketed following the Corona-virus pandemic. The figures outperformed ExxonMobil and Shell, which announced profits of $55.7 billion and $39.9 billion, respectively.

In July 2019, Occidental Petroleum purchased Anadarko Petroleum, bringing with it a vast legacy of environmental violations, including the largest environmental contamination settlement in American history, involvement in the Deepwater Horizon BP disaster, and Clean Water Act fines.

Natural Gas Liquid (NGL) Market Segmentation:

Natural Gas Liquid (NGL) Market By Product Outlook

• Ethane
• Propane
• Isobutene
• Natural Gasoline

 Natural Gas Liquid (NGL) Market By Application Outlook

• Industrial
• Residential
• Commercial

Natural Gas Liquid (NGL) Regional Outlook

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Australia
  • Rest of Asia-Pacific
• Rest of the World
  • Middle East
  • Africa
  • Latin America

Natural Gas Liquid (NGL) Market Segmentation

Natural Gas Liquid (NGL) Market By Product Outlook (USD Billion, 2018-2032)

• Ethane

• Propane

• Isobutene

• Natural Gasoline

Natural Gas Liquid (NGL) Market By Application Outlook (USD Billion, 2018-2032)

• Industrial

• Residential

• Commercial

Natural Gas Liquid (NGL) Market Regional Outlook (USD Billion, 2018-2032)

• North America Outlook (USD Billion, 2018-2032)

  • North America Natural Gas Liquid (NGL) Market By Product

• • • Ethane

    • Propane

    • Isobutene

    • Natural Gasoline

• North America Natural Gas Liquid (NGL) Market By Application

  • Industrial

  • Residential

  • Commercial

• US Outlook (USD Billion, 2018-2032)

• US Natural Gas Liquid (NGL) Market By Product

• • • Ethane

    • Propane

    • Isobutene

    • Natural Gasoline

• US Natural Gas Liquid (NGL) Market By Application

  • Industrial

  • Residential

  • Commercial

• CANADA Outlook (USD Billion, 2018-2032)

• CANADA Natural Gas Liquid (NGL) Market By Product

• • • Ethane

    • Propane

    • Isobutene

    • Natural Gasoline

• CANADA Natural Gas Liquid (NGL) Market By Application

  • Industrial

  • Residential

  • Commercial

• Europe Outlook (USD Billion, 2018-2032)

  • Europe Natural Gas Liquid (NGL) Market By Product

• • • Ethane

    • Propane

    • Isobutene

    • Natural Gasoline

• Europe Natural Gas Liquid (NGL) Market By Application

  • Industrial

  • Residential

  • Commercial

• Germany Outlook (USD Billion, 2018-2032)

• Germany Natural Gas Liquid (NGL) Market By Product

• • • Ethane

    • Propane

    • Isobutene

    • Natural Gasoline

• Germany Natural Gas Liquid (NGL) Market By Application

  • Industrial

  • Residential

  • Commercial

• France Outlook (USD Billion, 2018-2032)

• France Natural Gas Liquid (NGL) Market By Product

• • • Ethane

    • Propane

    • Isobutene

    • Natural Gasoline

• France Natural Gas Liquid (NGL) Market By Application

  • Industrial

  • Residential

  • Commercial

• UK Outlook (USD Billion, 2018-2032)

• UK Natural Gas Liquid (NGL) Market By Product

• • • Ethane

    • Propane

    • Isobutene

    • Natural Gasoline

• UK Natural Gas Liquid (NGL) Market By Application

  • Industrial

  • Residential

  • Commercial

• ITALY Outlook (USD Billion, 2018-2032)

• ITALY Natural Gas Liquid (NGL) Market By Product

• • • Ethane

    • Propane

    • Isobutene

    • Natural Gasoline

• ITALY Natural Gas Liquid (NGL) Market By Application

  • Industrial

  • Residential

  • Commercial

• SPAIN Outlook (USD Billion, 2018-2032)

• Spain Natural Gas Liquid (NGL) Market By Product

• • • Ethane

    • Propane

    • Isobutene

    • Natural Gasoline

• Spain Natural Gas Liquid (NGL) Market By Application

  • Industrial

  • Residential

  • Commercial

• Rest Of Europe Outlook (USD Billion, 2018-2032)

• Rest Of Europe Natural Gas Liquid (NGL) Market By Product

• • • Ethane

    • Propane

    • Isobutene

    • Natural Gasoline

• REST OF EUROPE Natural Gas Liquid (NGL) Market By Application

  • Industrial

  • Residential

  • Commercial

• Asia-Pacific Outlook (USD Billion, 2018-2032)

  • Asia-Pacific Natural Gas Liquid (NGL) Market By Product

• • • Ethane

    • Propane

    • Isobutene

    • Natural Gasoline

• Asia-Pacific Natural Gas Liquid (NGL) Market By Application

  • Industrial

  • Residential

  • Commercial

• China Outlook (USD Billion, 2018-2032)

• China Natural Gas Liquid (NGL) Market By Product

• • • Ethane

    • Propane

    • Isobutene

    • Natural Gasoline

• China Natural Gas Liquid (NGL) Market By Application

  • Industrial

  • Residential

  • Commercial

• Japan Outlook (USD Billion, 2018-2032)

• Japan Natural Gas Liquid (NGL) Market By Product

• • • Ethane

    • Propane

    • Isobutene

    • Natural Gasoline

• Japan Natural Gas Liquid (NGL) Market By Application

  • Industrial

  • Residential

  • Commercial

• India Outlook (USD Billion, 2018-2032)

• India Natural Gas Liquid (NGL) Market By Product

• • • Ethane

    • Propane

    • Isobutene

    • Natural Gasoline

• India Natural Gas Liquid (NGL) Market By Application

  • Industrial

  • Residential

  • Commercial

• Australia Outlook (USD Billion, 2018-2032)

• Australia Natural Gas Liquid (NGL) Market By Product

• • • Ethane

    • Propane

    • Isobutene

    • Natural Gasoline

• Australia Natural Gas Liquid (NGL) Market By Application

  • Industrial

  • Residential

  • Commercial

• Rest of Asia-Pacific Outlook (USD Billion, 2018-2032)

• Rest of Asia-Pacific Natural Gas Liquid (NGL) Market By Product

• • • Ethane

    • Propane

    • Isobutene

    • Natural Gasoline

• Rest of Asia-Pacific Natural Gas Liquid (NGL) Market By Application

  • Industrial

  • Residential

  • Commercial

• Rest of the World Outlook (USD Billion, 2018-2032)

  • Rest of the World Natural Gas Liquid (NGL) Market By Product

• • • Ethane

    • Propane

    • Isobutene

    • Natural Gasoline

• Rest of the World Natural Gas Liquid (NGL) Market By Application

  • Industrial

  • Residential

  • Commercial

• Middle East Outlook (USD Billion, 2018-2032)

• Middle East Natural Gas Liquid (NGL) Market By Product

• • • Ethane

    • Propane

    • Isobutene

    • Natural Gasoline

• Middle East Natural Gas Liquid (NGL) Market By Application

  • Industrial

  • Residential

  • Commercial

• Africa Outlook (USD Billion, 2018-2032)

• Africa Natural Gas Liquid (NGL) Market By Product

• • • Ethane

    • Propane

    • Isobutene

    • Natural Gasoline

• Africa Natural Gas Liquid (NGL) Market By Application

  • Industrial

  • Residential

  • Commercial

• Latin America Outlook (USD Billion, 2018-2032)

• Latin America Natural Gas Liquid (NGL) Market By Product

• • • Ethane

    • Propane

    • Isobutene

    • Natural Gasoline

• Latin America Natural Gas Liquid (NGL) Market By Application

  • Industrial

  • Residential

  • Commercial