Natural gas liquids (NGLs) are hydrocarbons—in a similar group of molecules like natural gas and crude oil, composed exclusively out of hydrogen and carbon. Butane, Pentane, propane, Ethane, and isobutane are all natural gas liquids. There are numerous applications for natural gas liquids, spreading over about all divisions of the economy. NGLs are useful as contributions for petrochemical plants, expended for cooking and space heat, and blended into vehicle fuel. Higher costs of crude oil have added to extended the expenses of natural gas liquids and, therefore, if stimuli to exhaust in liquids rich resources with basic NGL content. The concoction composition of these hydrocarbons is equivalent, yet their applications change for the most part. Ethane has the largest share of NGL field generation. It is utilized only to make ethylene, which is then changed into plastics. A huge share of the propane, by separate, is scorched for heating, regardless of the way that an extensive whole is useful as petrochemical feedstock.
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Drivers and Restraints of the market
The key factors responsible for driving the natural gas liquids market are growing interest from refineries, extending demand from petrochemical plants and expanding request from residential and industrial consumers. Other factors responsible for driving this market are progression in the combustible gas business and the extending usage of related gas. Petrochemical plants are one of the noteworthy offers of the market holders in the usage of NGLs products. There has been a development in demand for natural gas liquid products in the recent years as these products are used for different applications, for instance, use of propane as a feedstock for age of ethylene and propylene, which is moreover processed to produce plastics. Besides, normal butane when mixed with propane is useful to make ethylene and butadiene, which are furthermore used to create synthetic rubber. Additionally, with rising standards of living and environmental issues, the utilization of NGLs products is on the rise. Butane and Propane is useful domestically for heating, burning, boiling and cooking, thereby boosting the demand. Propane is useful as a propellant in shaving creams, aerosol sprays, and air fresheners. Isobutane is useful in refrigerants and in common lighters for cooking.
Regional and Competitive Outlook
By product the Natural gas liquids market is segmented into Propane,Isobutane and Ethane. The leading players in the market are ConocoPhillips,Chesapeake Energy, ExxonMobil,Range Resources,Royal Dutch Shell and Statoil. Geographically, the market is segmented into Europe, Asia Pacific, North America and Rest of the world.
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The Natural Gas Liquids Market is segmented as follows-
- Other Product Types
- North America
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of the World
- South Africa
- Saudi Arabia
- United Arab Emirates
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