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Middle East & Africa Natural Gas Liquid Market Size
The Middle East & Africa natural gas liquid market was valued at 4.1 million barrels per day in 2024 and is estimated to grow at a CAGR of 5% from 2025 to 2034. The petrochemical sector is witnessing significant growth driven by investments in residential and commercial construction activities. The demand from automotive manufacturing for essential components together with increased adoption across various end-use sectors including residential applications and industrial processes further augmenting the industry landscape.
Flourishing investments focusing on discovering and accessing untapped reserves, companies allocating resources to develop advanced technological solutions and enhance production capabilities to meeting the rising energy demands will contribute to the industry growth. For instance, in December 2024, Worley Engineering has received the contract from ADNOC Gas plc for constructing gas processing facilities at Bab Gas Cap. The facilities will enhance processing capacity by 20%, delivering 1.8 billion standard cubic feet per day, with investment decisions planned for 2026.
How big is the Middle East & Africa natural gas liquid market?
The Middle East & Africa natural gas liquid market was reached 4.1 million barrels per day in 2024 and is projected to grow at a 5% CAGR from 2025 to 2034, driven by rising investments in the petrochemical sector and construction activities.
What is the projected size of the ethane segment by 2034?
The ethane segment is expected to exceed 2.2 million barrels per day by 2034, supported by its increasing use in the petrochemical industry and the development of ethylene crackers.
What is the growth outlook for the petrochemical feedstock segment?
The petrochemical feedstock segment is anticipated to grow at a CAGR of over 4.5% through 2034, led by rising industrial investments and demand for materials like synthetic rubber, polyethylene, and polypropylene.
What is the forecast for Saudi Arabia's natural gas liquid market by 2034?
Saudi Arabia's natural gas liquid market is projected to surpass 1.2 million barrels per day by 2034, fueled by the expansion of the shale gas sector, lower NGL prices, and increased adoption of energy-efficient systems.
Who are the major players in the Middle East & Africa natural gas liquid market?
Key players in the industry include BP, Chevron, ConocoPhillips, Dana Gas, ENOC, Eni, ExxonMobil, Linde, Lukoil, QatarEnergy, RAK Gas, Saudi Aramco, Shell, SNOC, and TotalEnergies.