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Natural Gas Liquids (NGLs) Market – 45% of Growth to Originate from North America |

NEW YORK, March 24, 2022 /PRNewswire/ — The natural gas liquids (NGLs) market share is expected to grow by USD 15.17 billion from 2021 to 2026 at a CAGR of 6.2% as per the latest market report by Technavio. 45% of the market’s growth will originate from North America during the forecast period. The US is the key market for natural gas liquids (NGLs) in North America. Market growth in this region will be faster than the growth of the market in other regions. The significant growth in production of natural gas, increase in oil refinery throughput, and the considerable adoption of NGL across various end-use industries will facilitate the natural gas liquids (NGLs) market growth in North America over the forecast period.

Technavio has announced its latest market research report titled Natural Gas Liquids (NGLs) Market by Product and Geography - Forecast and Analysis 2022-2026
Technavio has announced its latest market research report titled Natural Gas Liquids (NGLs) Market by Product and Geography – Forecast and Analysis 2022-2026

For more insights on the market share of various regions – View the FREE sample report in MINUTES

Read the 120-page report with TOC on “Natural Gas Liquids (NGLs) Market Analysis Report by Product (Propane, Butane, Pentane, and Ethane) and Geography (North America, Middle East, and Africa, Europe, APAC, and South America), and the Segment Forecasts,2022-2026″. Gain competitive intelligence about market leaders. Track key industry opportunities, trends and threats. Information on marketing, brand, strategy and market development, sales, and supply functions. https://www.technavio.com/report/report/natural-gas-liquids-ngls-market-industry-analysis

Natural Gas Liquids (NGLs): Drivers & Trends

The key factor driving the global natural gas liquids (NGLs) market growth is the increasing government support for the adoption of NGL. For instance, in July 2018, the Energy Regulatory Commission, Mexico authorized Walmart with a 30-year commission for offering propane to customers in six Mexican state municipalities. The government of Alberta, Canada, has made efforts to increase ethane supplies through a combination of loan guarantees, royalty credits, and grants through an expanded petrochemicals diversification program. Coupled with a partial upgrading program, these initiatives are expected to attract more than USD 10 billion in private investment. Moreover, in September 2018, the Saudi Arabian government began new efforts to unwind subsidies for necessities such as water and energy. As a result, the price of ethane rose by 2.33 times the price of subsidies. However, this did not impact the demand for products cuts, and the hikes were positively accepted. Such factors will drive the market growth during the forecast period.

Also, the rising need for cleaner fuel is one of the key natural gas liquids market trends that is expected to impact the industry positively in the forecast period. CO2 emissions grew by 1.5% in 2017 from 2016, despite relative stability between 2013 and 2016. Per the IEA, in 2016, the transportation sector accounted for around eight gigatons of CO2,…

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2022-03-24 03:00:00

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