Infinium Global Research Natural Gas Liquids Market | Page 8

Natural Gas Liquids Market: Global Industry Analysis, Trends, Market Size and Forecasts up
to 2023
interviews not only help identify the market size of the natural gas liquids but also identify
the factors that promote the growth in the market and the factors that restrain the growth
in this market. The views of primary respondents were reconciled to provide qualitative
analysis of the natural gas liquids. The primary respondents also help identifying top 5-10
players and their possible market share in the respective country markets and in world
market. The bottom-up approach is used to validate the global market size of natural gas
liquids. With the help of primary interviews and secondary research the market size of
natural gas liquids is determined for each country studied, which then is added to arrive at
regional market size and thereby obtaining global market size. This in turn helps us to validate
the market size of natural gas liquids in the world market.
Executive Summary
Global Natural Gas Liquids Market Highlights, (USD Million)
The global Natural Gas Liquids Market is expected to grow at a CAGR of 6.7 % between 2017
and 2023 in terms of value. Increasing demand for ethane, butane and propane with their
application in petrochemical industry is the key factor driving the growth of global natural
gas liquid market. Furthermore, rising demand for natural gas liquid products in refineries
such as to convert ethane into ethylene by steam cracking, propane used for cracking
petroleum into gasoline and ISO-butane to increase the octane number of motor gasoline to
improve its quality will drive this market globally. Moreover, increasing population with
changing lifestyle and high residential usage of propane and butane products for burning,
heating and cooking which in turn will drive the global natural gas liquid market over the
forecast period. However, decline in crude oil prices and tough competition from other
energy by products such as bio gas and methane gas are the key restraining factors for the
growth of this market over the forecast period. Hence, development in the infrastructure for
natural gas liquid and recent discoveries as well as innovations will bring more opportunities
to the global natural gas liquid market for the next six years.
The leading players in the global Natural Gas Liquids Market include ExxonMobil Corp.,
Chesapeake Energy Corp., BP PLC, Range Resources Corp., Royal Dutch Shell Plc, SM Energy,
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