Appropriate pricing has emerged as a key strategy
for players looking to establish a strong foothold in the global
natural gas liquids (NGL) market, says Transparency Market Research
(TMR) in a recently published report. Not a single company held a
discernibly high share in the highly fragmented vendor landscape of
the global NGL market. Nevertheless, the most prominent companies are
aiming for competitiveness by reducing their overall operating costs
and turnover time. The degree of competition is, therefore,
forecasted by TMR to remain high through the forecast period from
2016 to 2024.
In North America however SM Energy has emerged as
one of the leading NGL exploration and production companies. Besides
this Swift Energy Company, Linn Energy, LLC, and Chesapeake Energy
Corporation exhibits a strong presence in the U.S. British Petroleum
plc has also registered a strong presence in the global market with
its strong presence across 30 countries worldwide.
This 123 page report gives readers a
comprehensive overview of the Natural Gas Liquid market. Browse
Market Research Report @
Rising Applications in Petrochemical Industry
Create Attractive Opportunities for NGL Sales
The increasing use of natural gas liquids for
application in the petrochemical industry has been pivotal in
fuelling NGL sales. Natural gas liquids such as propane, butane,
ethane, and isobutene are primarily used as feedstock in the
petrochemical industry. Despite the reducing cost of natural gas, the
cost of NGL is forecasted to remain high during the forecast period.
On the contrary, the declining costs of crude oil
pose major challenge in front of the market. This lower crude oil
price is expected to reduce the cost of naphtha, which is a petroleum
by-product. Due to its low cost, naphtha is seen to replace ethane in
a few petrochemical applications, thus creating major hindrance for
the NGL market. “However the price of crude oil is expected to
normalize in the next few years, thus creating opportunities for
growth of the NGL market,” said a lead analyst at TMR.
Furthermore, the prices of natural gas are
expected to fall in the next few years. This trend is likely to
continue through the forecast period. “Lower price of natural due
to oversupply and weakening demand, will subsequently bolster
prospects for NGL sale in the near future,” said a TMR analyst.
North America and the Middle East Exhibit
Highest Opportunities for NGL Market
Regionally, North America and the Middle East
exhibit the most lucrative prospects for the enterprises engaged in
NGL production and exploration. While the Middle East accounted for
the largest share in the global market in 2015, North America is
likely to exhibit the highest CAGR during the forecast period.
The Middle East presently accounts for
approximately 40% of the proven reserves of natural gas globally. The
region is further gaining from the rapid industrialization witnessed
in Qatar, Iran, Saudi Arabia, and the UAE. As per TMR, the Middle
East NGL market will reach 5,468.9 kilo barrels/day by the end of
2024 from 2,909.2 kilo barrels/day in 2014. Likewise in North
America, Canada and the U.S. are exhibiting the most attractive
opportunities for the companies. The increasing production and
processing capacities in Asia Pacific economies such as India, China,
Australia, and Indonesia are also expected to boost prospects for NGL
sales.
NGL Demand to Increase with Rising Applications
across Diverse Economic Sectors
Based on type, normal butane, isobutene, pentanes
plus, propane, and ethane constitute the key segments in the global
NGL market. Of these, ethane dominated the market with a share of 45%
in 2014. The market is also expected to gain from the rising
application of propane as a green fuel in residential, industrial,
commercial, transportation, and chemicals and refinery sectors. By
application, the petrochemicals industry is likely to exhibit the
highest demand for natural gas liquids. The segment accounted for a
dominant share of 55% in the market in 2014, followed by the space
heating segment.
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Transparency Market Research projects the global
natural gas liquids market to reach 14,806.59 kilo barrels/day by the
end of 2024 from 7,982.63 kilo barrels/day in 2015. If this holds
true, the market will report a strong 7.16% CAGR from 2016 to 2024.
This review is based on findings published by
Transparency Market Research in an analysis, titled “Natural Gas
Liquid Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2016 - 2024.”
The report segments the global natural gas
liquid market as:
Global Natural Gas Liquids market: Type
Analysis
- Ethane
- Propane
- Normal Butane
- Isobutane
- Pentanes Plus
Global Natural Gas Liquids market: Regional
Analysis
North America
- U.S.
- Canada
- Mexico
Europe
- Norway
- Russia
- U.K.
- Netherlands
Asia Pacific
- Indonesia
- Australia
- India
- Rest of Asia Pacific
Middle East
- Qatar
- Iran
- Saudi Arabia
- A.E
- Rest of Middle East
Africa
- Algeria
- Nigeria
- Rest of Africa
Latin America
- Argentina
- Brazil
- Venezuela
- Rest of Latin America
About
Us
Transparency Market Research (TMR) is a global market intelligence
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company’s exclusive blend of quantitative forecasting and trend
analysis provides forward-looking insight for thousands of decision
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Transparency Market Research employs rigorous primary and secondary
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