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There is an increase in demand for energy around the world and specifically in remote locations. The liquefied natural gas occupies a very low volume which makes it cost efficient to be transported over long distances and at the places where pipelines do not exist.Get PDF Brochure of this Report@ https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/natural-gas-liquid-market-100426
Natural gas liquids include ethane, propane, butane, isobutene, and natural gasoline. These products are sold separately and have a variety of different uses such as providing raw materials for oil refineries or petrochemical plants, transportation fuel for vehicles, cooking fuel, etc.
On the basis of product, global natural gas liquid market can be segmented into ethane, propane, butane, pentane, and others. Natural gas liquid like butane and ethane, serve as a petrochemical feedstock and feedstock for the manufacturing of plastic products. Ethane occupies the largest share of NGL field production. On the basis of its applications, the global natural gas liquid industry can be segmented into petroleum feedstock, space heating, blendstock, and others. The need for a subsitute fuel and its economical advantage has made natural gas liquids to be used in every field.
Increase in energy demand all over the world is the key market driver for global natural gas liquid market. Also, there is an increase in demand for natural gas liquid products in refineries. Increasing population with improving lifestyle has increased the usage of the natural gas liquid products in residential applications. All these factors act as key market drivers for global market.
Key market restraint for the global natural gas liquid market is the decline in the prices of crude oil. Also, the terminals for natural gas liquids require cryogenic materials, complex technologies, and equipment for construction which increase the overall cost. Availability of substitute fuels for e.g. Biogas also act as market restraint for global market.
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Key Players Covered:
Some of the notable companies in global natural gas liquid market are:
• ExxonMobil
• ConocoPhillips
• Chesapeake Energy,
• Eni
• Rosneft
• Petrobras
• SM Energy Company
• Linn Energy
• BP
• Statoil
• Swift Energy Company
• Range Resources
• Devon Energy
• Royal Dutch Shell
• Anadarko Petroleum Corporation
• Southwestern Energy
Segmentation of Global Natural Gas Liquid Market:
• By Product
• By Application
• By Geography
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Regional Analysis:
The global market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region has seen a growth in natural gas liquid market due to increase in demand for energy mainly from the developing countries like China and India. China has been the dominant force in this region and all over the globe, as it has boosted the use of LNG to tackle air pollution. Strict emission regulations have shown growth of NGL market in USA and Europe. US and Russia are the countries battling to own the supplies in the Europe region. In North America, the growth of the natural gas liquid ndustry is primarily driven by industrial and power applications. Although there is only one operating LNG liquefaction plant in Peru. South America has abundant natural gas resources.
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