Natural Gas Liquid Market Size

Natural Gas Liquid Market Size

Natural Gas Liquid Market size was over 8 million barrels per day in 2018 and is anticipated to witness an annual growth rate of over 7% by 2025.

To get key market trends

  Download Free Sample

The increasing investments toward petrochemical industry along with the rapid development of residential and commercial establishments will stimulate the market growth. The up surge in consumption of products for cooking, heating and burning purposes will positively impact the industry outlook. In addition, the growing demand for automobile products including tires, flooring, mattings and belts from both OEM and aftermarket will foster the business growth.

Accelerating investments toward clean energy sources driven by concerns over diversification of fuel and shifting regulatory mandates toward energy transition will stimulate the natural gas liquid market. For instance, The Texas Clean Fleet Program directs owners to permanently remove the diesel vehicles from the road and replace them with alternative fuel vehicles. Furthermore, the growing need to cater increasing domestic demand, reinforce energy security and achieve self-sufficiency will augment the industry outlook.
 

Increasing demand for space heating owing to rapidly changing climatic condition along with rising consumption of plastics and synthetic rubber for various applications will stimulate the global market growth. In addition, population growth, improved standard of living, rapid industrialization and urbanization across the emerging economies will favour the business outlook.