Global Natural Gas Liquid Market is predicted to reach USD 32.6 billion at a CAGR of 5.70% during the forecast period

Market Research Future (MRFR) has published a cooked research report on the “Global Natural Gas Liquid Market” that contains information from 2023 to 2032. The Global Natural Gas Liquid Market is estimated to register a CAGR of 5.70% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the Global Natural Gas Liquid Market— BP PL.C., Chevron Corporation, ConocoPhillips Company, Devon Energy Corporation, Exxon Mobil Corporation, Lukoil, Occidental Petroleum Corporation, Range Resources Corporation, and Saudi Arabian Oil Co.

Market Highlights

The Global Natural Gas Liquid Market is accounted to register a CAGR of 5.70% during the forecast period and is estimated to reach USD 32.6 Billion by 2032.

The Global Natural Gas Liquids (NGL) Market refers to the worldwide industry involving the production, transportation, processing, and distribution of natural gas liquids. Natural gas liquids are hydrocarbons that exist in a gaseous state within natural gas reservoirs but can be condensed into liquid form under certain conditions, such as pressure changes or temperature adjustments.

The global NGL market is influenced by factors such as natural gas production levels, energy demand, economic growth, technological advancements in extraction and processing, and shifts in supply and demand dynamics. The market also involves various stakeholders, including exploration and production companies, midstream infrastructure providers (such as pipelines and processing plants), petrochemical manufacturers, and end-users in sectors like energy and manufacturing.

Segment Analysis

The Global Natural Gas Liquid Market has been segmented based on product and application.

On the basis of product, the market is segmented into Ethane, Propane, Isobutene and Natural Gasoline. The ethane category is expected to dominate the market. Because to its growing use in the petrochemical sector, the development of large-scale ethylene crackers, and greater investment in downstream industries.

Based on application, the market has been segmented into Industrial, Residential and Commercial. The industrial segment dominated the worldwide Natural gas liquids market. 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.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Natural Gas Liquid Market Growth Report

Regional Analysis

The Global Natural Gas Liquid Market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Natural Gas Liquid Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Natural Gas Liquid Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Global Natural Gas Liquid Market comprises of Middle East, Africa, and Latin America.

North America, particularly the United States and Canada, has been a significant player in the NGL market due to the shale gas revolution. The U.S. Gulf Coast has become a major hub for NGL processing and export, thanks to the development of shale resources and associated infrastructure.

Europe's NGL market is influenced by both domestic production and imports. The region relies on imports to meet its NGL demand, and factors like geopolitical tensions and pipeline infrastructure play a role in shaping this market.

The Asia-Pacific region is a major consumer of NGLs due to its growing industrial base and energy demand. Countries like China and India use NGLs as feedstocks for their expanding petrochemical sectors. The region's energy transition efforts, including a focus on cleaner fuels, can impact NGL demand.

Furthermore, the rest of the world's Global Natural Gas Liquid Market is divided into the Middle East, Africa, and Latin America.  Latin America's NGL market is relatively smaller compared to other regions, but it plays a role in supplying local industries and meeting domestic energy needs. Countries like Brazil and Argentina have their NGL production, albeit at a smaller scale.

Key Findings of the Study

• The Global Natural Gas Liquid Market is expected to reach USD 32.6 Billion by 2032, at a CAGR of 5.70% during the forecast period.


• North America, particularly the United States and Canada, has been a significant player in the NGL market due to the shale gas revolution. The U.S. Gulf Coast has become a major hub for NGL processing and export, thanks to the development of shale resources and associated infrastructure.


• Based on product, the market is segmented into Ethane holding the largest market in 2022.


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