Natural gas fell to 3.27 USD/MMBtu on October 27, 2025, down 1.00% from the previous day. Over the past month, Natural gas's price has risen 0.12%, and is up 14.24% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Natural gas - values, historical data, forecasts and news - updated on October of 2025.

The report covers US Natural Gas Demand and it is segmented by Type (Wet Natural Gas and Dry Natural Gas) and End Use (Power Generation, Automotive, Residential, and Industries). The report offers the natural gas consumption and forecasts in units (billion cubic meters) for all the above segments.

The renewable natural gas (RNG) market is rapidly expanding, driven by the increasing demand for clean and sustainable energy sources. The market was valued at USD XX million in 2025 and is projected to reach USD XX million by 2033, exhibiting a CAGR of XX% during the forecast period. This growth is primarily attributed to the growing awareness of environmental concerns and government initiatives to reduce greenhouse gas emissions. Furthermore, the increasing adoption of RNG in the transportation sector is contributing to market expansion. Key market drivers include the rising demand for clean and sustainable energy sources, supportive government policies and regulations, and technological advancements. The expanding applications of RNG in sectors such as transportation, power generation, and industrial heating are also driving market growth. Moreover, the increasing focus on reducing methane emissions, coupled with the availability of feedstock for RNG production from sources like landfills and agricultural waste, is expected to further propel market growth. The market is segmented based on application (e.g., transportation, power generation, industrial heating) and type (e.g., biomethane, landfill gas).

The global dry natural gas market is projected to reach a value of USD 861.2 billion by 2033, expanding at a CAGR of 5.2% from 2025 to 2033. The increasing demand for natural gas as a cleaner alternative to coal and oil in power generation, as well as its growing use in the transportation and industrial sectors, are key drivers of this growth. Additionally, the expanding use of natural gas in residential and commercial applications further contributes to the market expansion. The market is segmented based on type (offshore source and onshore source) and application (electric power, residential, transportation, industrial, commercial, and others). The electric power segment currently holds the largest market share, with natural gas being extensively utilized in power plants due to its efficiency and lower carbon emissions. The transportation sector is also expected to witness significant growth in its use of natural gas as a fuel for vehicles. Key companies operating in the dry natural gas market include EQT Corporation, Exxon Mobil, Chesapeake Energy, Southwestern Energy, Coterra Energy, British Petroleum BP, Shell, Chevron, ConocoPhillips, and Ovintiv.

Green Natural Gas Market Overview The global Green Natural Gas (GNG) market is projected to expand rapidly, reaching a valuation of approximately USD 8,367 million by 2033. This growth is driven by increasing demand for renewable and sustainable fuel sources, particularly in the power generation, transportation, and residential sectors. The market exhibits a high CAGR of 32.9%, reflecting the growing adoption of GNG as a cleaner and more cost-effective alternative to traditional fossil fuels. Market Segmentation and Key Players The GNG market is segmented based on application, type, and region. Key applications include electricity generation, vehicle fuel, gas grid, and others. Types of GNG include agriculture, sewage and wastewater, landfill, and others. The market is dominated by major players such as Clean Energy Fuels, Archaea Energy, Vanguard Renewables, J V Energen, Montauk, and others. North America, Europe, and Asia Pacific are the largest regional markets for GNG, with significant investments in renewable energy infrastructure and sustainable development initiatives.

Snapshot img { margin: 10px !important; } The global natural gas market has the potential to grow by USD 137.51 billion during 2020-2024, and the market’s growth momentum will accelerate throughout the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by resource type (conventional and unconventional) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including BP Plc, Chevron Corp., ConocoPhillips Co., Exxon Mobil Corp., PetroChina Co. Ltd., PJSC Gazprom, Royal Dutch Shell Plc, Saudi Arabian Oil Co., Suncor Energy Inc., and TOTAL SA.

Market Overview

Browse TOC and LoE with selected illustrations and example pages of natural gas market

Request a FREE sample now!

Market Competitive Analysis

The natural gas market is currently highly fragmented, and the degree of fragmentation will remain the same during the forecast period. Vendors are focusing on unconventional exploration and production activities to increase revenue generation. BP Plc, Chevron Corp., ConocoPhillips Co., and Exxon Mobil Corp. are some of the major market participants. Although the investments in upstream projects will offer immense growth opportunities, the environmental concerns related to drilling will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market positions, this natural gas market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this natural gas market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading natural gas companies, including:

BP Plc
Chevron Corp.
ConocoPhillips Co.
Exxon Mobil Corp.
PetroChina Co. Ltd.
PJSC Gazprom
Royal Dutch Shell Plc
Saudi Arabian Oil Co.
Suncor Energy Inc.
TOTAL SA

Natural Gas Market: Segmentation by Region

For more insights on the natural gas market share of various regions Request for a FREE sample now!

North America was the largest market for natural gas in 2019, and the region will continue to offer maximum growth opportunities to vendors. The natural gas production output in North America has increased significantly in recent years owing to unconventional exploration and production activities, such as drilling, in shale reserves in the region.

Over 36% of the market’s growth will originate from North America during the forecast period. The growing number of onshore and offshore natural gas projects and rising investments and initiatives undertaken by various governments will contribute to the natural gas market size growth in the region. The US and Canada are the key markets for natural gas in North America. Market growth in this region will be faster than the growth of the market in other geographies.

Natural Gas Market: Segmentation by Resource Type

Request for a FREE sample and Get more information on the market contribution of various types of resources

Oil and natural gas production from conventional resources hold a significant share in the oil and gas industry. The availability of conventional resources of natural gas is high in natural gas-producing countries such as Russia, Iran, Qatar, and China. The rising demand for natural gas and increasing investments in the upstream sector are driving the growth of the global natural gas market by the conventional segment.

However, market growth by the conventional segment will be slower than the growth of the market by the unconventional segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the natural gas market size.

Natural Gas Market: Key Drivers and Trends

The growing population and industrial development have been increasing the demand for energy across the world. Therefore, many countries are exploring untapped oil and gas resources with the help of technological advances in the oil and gas industry. Moreover, oil and gas operators are increasingly investing in mature oil and gas fields to overcome the issue of declining conventional oilfields and maximize their revenue. Such increasing investments in the upstream oil and gas sector across the world will drive natural gas exploration and production activities, fueling n

The size of the US Natural Gas Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 5.00">> 5.00% during the forecast period. The natural gas market in the United States is a crucial component of the nation's energy landscape, involving the production, transportation, and utilization of natural gas, which is essential for electricity generation, heating, and various industrial applications. This market is notably influenced by the significant development of domestic shale gas resources, particularly from regions such as the Marcellus and Permian basins, which have greatly increased production levels in the U.S. As a result, the country has emerged as one of the foremost producers and exporters of natural gas globally. The market is supported by a comprehensive infrastructure, featuring an extensive network of pipelines, storage facilities, and liquefied natural gas (LNG) export terminals that enable effective distribution and international trade. The growth of natural gas usage has been propelled by its comparatively lower carbon emissions relative to coal and oil, aligning with environmental standards and sustainability objectives. Nevertheless, the market encounters challenges, including price fluctuations, changes in regulations, and environmental issues associated with hydraulic fracturing and methane emissions. In spite of these obstacles, the U.S. natural gas market continues to thrive, with ongoing investments in infrastructure and technology focused on improving efficiency and minimizing environmental effects. Ultimately, this market is vital to the nation's energy framework, enhancing energy security and fostering economic development. Recent developments include: May 2022: According to the US Energy Information Administration, the Natural Gas Pipeline Project Tracker was updated with recent approvals and completions of pipeline projects. As of the end of the first quarter of 2022, the Federal Energy Regulatory Commission (FERC) approved three projects to increase the export of US natural gas by pipeline and LNG. FERC approved two projects connecting LNG terminals in Louisiana. The Evangeline Pass Expansion Project, owned by Tennessee Gas Pipeline Company, is 1.1 billion cubic feet in size. It is intended that the proposed Plaquemines LNG Project in Plaquemines Parish, Louisiana, be supplied with natural gas by constructing 13.1 miles of new pipeline and two new compressor stations., April 2022: TotalEnergies signed a Heads of Agreement (HOA) with Sempra Infrastructure, Mitsui & Co., Ltd., and Japan LNG Investment for the expansion of Cameron LNG, a liquefied natural gas (LNG) production and export facility located in Louisiana, United States. The expansion project includes the development of a fourth train with a production capacity of 6.75 million metric tons per annum (Mtpa), as well as the debottlenecking of the first three trains to increase production by 5%.. Key drivers for this market are: Increasing Global Demand for Refined Petroleum Products4., Economic Growth and Industrialization. Potential restraints include: Environmental Concerns and Regulations. Notable trends are: Power Generation Segment to Dominate the Market.

The India Natural Gas Market Report is Segment by Type (Compressed Natural Gas, Piped Natural Gas, and Liquefied Natural Gas ), Source (Domestic Production – Onshore, Domestic Production – Offshore, and LNG Imports), and End-Use Sector (Fertilizer Production, City Gas Distribution, Transportation, Petrochemical Feedstock, and Others). The Market Sizes and Forecasts are Provided in Terms of Volume (MMSCM).

The global compressed natural gas (CNG) market size was valued at USD 24.9 billion in 2025 and is expected to expand at a CAGR of 4.0% from 2025 to 2033. The rising demand for eco-friendly transportation fuels, coupled with government initiatives to reduce carbon emissions, is推动 the growth of the CNG market. Additionally, the increasing availability of CNG fueling stations and the growing adoption of CNG-powered vehicles are further contributing to the market growth. Key industry drivers include the increasing adoption of CNG-fueled vehicles in the transportation sector, rising environmental concerns and government regulations promoting the use of clean fuels, and the growing popularity of CNG as a cost-effective fuel alternative to gasoline and diesel. However, the market is also subject to certain restraints, such as limited infrastructure for CNG fueling stations and the high upfront cost of CNG vehicles. The report also provides an analysis of the competitive landscape, with key market players such as National Iranian Gas Company, Indraprastha Gas Limited, Royal Dutch Shell PLC, Gazprom, and NEOgas.

The natural gas analyzer market is experiencing robust growth, driven by the increasing demand for cleaner energy sources and stringent environmental regulations. The market's expansion is fueled by the need for precise and real-time monitoring of natural gas composition in various applications, including pipeline transportation, power generation, and industrial processing. Technological advancements, such as the development of more accurate, portable, and cost-effective analyzers, are further stimulating market growth. Key players like ABB, Agilent, and AMETEK are strategically investing in research and development to improve analyzer performance and expand their product portfolios. The market is segmented based on analyzer type (e.g., gas chromatography, infrared spectroscopy), application, and geography. While the market faces challenges like fluctuating natural gas prices and the need for skilled technicians, the long-term outlook remains positive, particularly in regions with significant natural gas production and consumption. The growth is expected to be driven by the increasing adoption of automation and digitalization in the energy sector, leading to increased demand for advanced analytical solutions. This will also contribute to improving safety and efficiency in the natural gas industry. Growth projections for the next decade indicate a substantial expansion of the market, driven by the factors mentioned above. Emerging economies in Asia and the Middle East are expected to witness particularly rapid growth due to infrastructure development and rising energy consumption. The competitive landscape is characterized by the presence of both established industry giants and innovative startups, leading to continuous product innovation and competitive pricing. This dynamic environment ensures that customers benefit from a wide range of high-quality, reliable analyzers. The market is expected to consolidate to some extent as companies seek to expand their market share through acquisitions and strategic partnerships.

TTF Gas fell to 31.34 EUR/MWh on October 27, 2025, down 2.10% from the previous day. Over the past month, TTF Gas's price has fallen 3.77%, and is down 26.54% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. EU Natural Gas TTF - values, historical data, forecasts and news - updated on October of 2025.

The Natural Gas Storage Market Report is Segmented by Storage Type (Underground – Depleted Reservoirs, Underground – Salt Caverns, Above-Ground – LNG Tanks, and More), Mode of Service (Base-Load Storage, Peak-Shaving Storage, and Seasonal Balancing Storage), End-User (Gas Utilities, Independent Storage Operators, Power Generators, and More), and Geography (North America, Europe, Asia-Pacific, South America, and More).

Natural Gas Analyzers Market Outlook

The global natural gas analyzers market size was valued at approximately USD 1.2 billion in 2023 and is anticipated to reach USD 2.5 billion by 2032, exhibiting a compound annual growth rate (CAGR) of around 8.6% during the forecast period. This robust growth can be attributed to the increasing demand for natural gas as a cleaner energy source, along with the need for precise monitoring and analysis in various industrial applications. With the world striving for sustainable energy solutions, natural gas stands out due to its lower carbon footprint compared to other fossil fuels, thus driving the growth of the natural gas analyzers market.

A significant growth factor in this market is the global shift towards environmentally friendly energy sources. As governments worldwide implement stringent regulations to reduce carbon emissions and mitigate climate change, there is a heightened demand for natural gas, which is considered a more sustainable alternative to coal and oil. This trend is propelling the need for advanced natural gas analyzers that can assess the purity and composition of natural gas, ensuring compliance with environmental standards. Furthermore, the increasing adoption of natural gas in power generation, transportation, and industrial sectors is amplifying the demand for these analyzers, thereby propelling market growth.

Technological advancements in natural gas analyzers also play a crucial role in driving market expansion. The development of sophisticated technologies such as gas chromatography, infrared, and electrochemical sensors has enabled more accurate, efficient, and reliable analysis of natural gas. These technologies provide real-time data and analysis, which are crucial for efficient processing and utilization of natural gas. The integration of Internet of Things (IoT) and artificial intelligence (AI) in these analyzers is further enhancing their capabilities, allowing for predictive maintenance and improved operational efficiency, thereby attracting increased investments from end-users in various sectors.

Another significant factor contributing to the market's growth is the rising focus on safety and operational efficiency within industries that utilize natural gas. The potential hazards associated with natural gas necessitate constant monitoring to prevent leaks and ensure safe operations. Natural gas analyzers provide critical data that help industries maintain safety and efficiency standards. The increasing awareness regarding workplace safety and the implementation of stringent safety regulations across industries such as oil & gas, chemicals, and power generation are driving the demand for reliable and high-performance natural gas analyzers.

In the realm of environmental monitoring and industrial safety, the Landfill Gas Analyzer emerges as a pivotal tool. These analyzers are specifically designed to measure the composition of gases emitted from landfills, which often include methane, carbon dioxide, and other volatile organic compounds. The accurate detection and analysis of these gases are crucial for preventing potential hazards such as explosions or toxic exposures. Moreover, by assessing the gas composition, landfill operators can optimize gas collection systems and potentially harness the captured methane for energy production. The integration of advanced technologies in landfill gas analyzers enhances their precision and reliability, making them indispensable in the quest for sustainable waste management and environmental protection.

Regionally, the Asia Pacific holds a prominent position in the natural gas analyzers market, with a significant share in the global market. This dominance is attributed to the region's rising energy demand, rapid industrialization, and increasing infrastructure developments. Countries such as China and India are witnessing an upsurge in natural gas consumption, thereby boosting the demand for natural gas analyzers. North America and Europe are also key markets, driven by technological advancements and stringent environmental regulations. The Middle East & Africa region is expected to see steady growth due to its massive natural gas reserves and the ongoing infrastructural developments aimed at gas extraction and processing.

Product Type Analysis

The product type segment of the natural gas analyzers market is bifurcated into portable and fixed analyzers. Portable natural gas analyzers are gaining traction due to their ease of

Snapshot img

Liquefied Natural Gas (LNG) Market Size 2025-2029

The liquefied natural gas (LNG) market size is forecast to increase by USD 27.79 billion, at a CAGR of 8% between 2024 and 2029.

The market is experiencing significant growth, driven by the surge in LNG production and the increasing demand for LNG bunkering. The production increase is due to the expansion of LNG infrastructure in key producing regions, enabling greater access to natural gas resources and facilitating the liquefaction process. Simultaneously, the demand for LNG bunkering is rising as more shipping companies adopt LNG as a cleaner alternative fuel for their vessels, in response to stricter environmental regulations. However, the LNG market faces challenges, including the fluctuations in global oil and gas prices. These price volatilities can impact the profitability of LNG projects, as the price of LNG is closely linked to the price of oil.
Additionally, the infrastructure required for LNG production, transportation, and regasification is capital-intensive and complex, posing challenges for companies looking to enter the market. Furthermore, safety concerns and the need for specialized expertise to handle LNG can create operational challenges for companies. To capitalize on market opportunities and navigate these challenges effectively, companies must remain agile, invest in innovative technologies, and collaborate with industry partners to optimize their operations and mitigate risks.

What will be the Size of the Liquefied Natural Gas (LNG) Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free Sample

The market continues to evolve, driven by shifting consumer demands, technological advancements, and regulatory changes. LNG metering and insulation technologies are crucial components in ensuring accurate measurement and efficient storage of this cryogenic fuel. LNG derivatives and contracts provide flexibility in managing price risks and securing supply. Industrial applications of LNG span various sectors, including power generation, heavy-duty vehicles, and processing industries. LNG valves, membranes, and pumps are essential components in LNG infrastructure, enabling the safe and efficient handling of this fuel. Carbon capture and utilization are emerging applications, offering potential environmental benefits. LNG pricing remains volatile due to market dynamics, supply and demand imbalances, and geopolitical factors.

Transportation, from production sites to end-users, involves complex logistics, including LNG tankers, pipelines, and terminals. Regulations and safety standards are continually evolving to address emerging challenges and ensure the safe and sustainable use of LNG. LNG vaporization and shipping technologies are essential for converting LNG back into its gaseous state for use as a fuel. LNG bunkering and supply chain optimization are crucial for the growing use of LNG as a marine fuel. LNG utilization in residential applications and export markets is expanding, driven by innovation and evolving consumer preferences. LNG production processes, such as gas-to-liquids (GTL), are advancing to improve efficiency and reduce emissions.

LNG hydrogen and fuel cells are emerging applications, offering potential benefits in decarbonizing energy systems. The LNG market's continuous dynamism underscores the importance of staying informed about the latest trends and developments.

How is this Liquefied Natural Gas (LNG) Industry segmented?

The liquefied natural gas (lng) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Power
  Industry
  Others


Application

  Off-grid power plants
  Transportation
  Industrial and manufacturing
  Marine fuel
  Others


Geography

  North America

    US
    Canada


  Europe

    Norway
    Russia
    The Netherlands


  Middle East and Africa

    Qatar
    UAE


  APAC

    China
    Japan


  Rest of World (ROW)

.

By End-user Insights

The power segment is estimated to witness significant growth during the forecast period.

Liquefied Natural Gas (LNG) is a critical component of the global energy landscape, with increasing demand driven by various factors. The shift towards cleaner fuels for power generation and industrial applications is a significant trend, as LNG emits fewer greenhouse gases compared to coal and oil. LNG cryogenics technology enables the liquefaction, storage, and transportation of natural gas in its liquid form, making it a versatile fuel for various sectors. LNG infrastructure, including regasification terminals and pipelines, is essential for importing and distributing

The global methanol from natural gas market is anticipated to exhibit a CAGR of approximately xx% over the forecast period. The market size is expected to reach a value of $x million by 2033. The increasing demand for methanol as a fuel and chemical feedstock is a major driver of the market. Methanol is used in the production of a variety of products, including formaldehyde, acetic acid, and methyl chloride. It is also used as a fuel for vehicles and power plants. The growing demand for methanol in these applications is expected to continue to drive the market in the coming years. In addition to the demand for methanol, the market is also being driven by the increasing availability of natural gas. Natural gas is the primary feedstock for methanol production, and the increasing availability of this feedstock is expected to continue to drive the market in the coming years. However, the market is also facing some challenges, including the volatility of natural gas prices and the increasing competition from other sources of methanol, such as coal and biomass.

Market Dynamics and Growth Factors The global natural gas utilities market is valued at USD 1292.6 million in 2025 and is projected to grow at a CAGR of 3.3% during the forecast period 2025-2033. Key drivers of this growth include increasing demand for natural gas as a clean and efficient fuel source, urbanization and population growth in emerging markets, and government initiatives promoting the use of natural gas. Furthermore, technological advancements, such as the development of smart gas meters and advanced pipeline systems, are contributing to market expansion. Market Segments and Regional Landscape The market is segmented based on application (household and commercial) and type (free type and dissolved type). Commercial applications hold a larger market share due to the increasing use of natural gas in industries, power plants, and commercial buildings. Regionally, North America dominates the market due to its well-established natural gas infrastructure and high consumption of natural gas. Asia Pacific is expected to witness significant growth during the forecast period, driven by urbanization, population growth, and government policies supporting the use of natural gas. Natural gas utilities play a vital role in distributing natural gas to homes, businesses, and industries. This report provides an in-depth analysis of the natural gas utilities industry, exploring its concentration, trends, key segments, and growth prospects.

Recent developments include: July 2022: The Indian government announced that it had set a target to raise the share of natural gas in the energy mix to 15% by 2030 from the current 6.3%. According to the data demonstrated by the Ministry of Petroleum & Natural Gas, 95.21 lakh PNG (Domestic) connections have been provided, and the authorized entities have established 4531 CNG (Transport) stations as of 31 May 2022., May 2022: The China National Offshore Oil Company (CNOOC) awarded CNY 16 billion (USD2.42 billion) contracts for building 12 liquefied natural gas tankers. The 12 vessels will be constructed by Hudong Zhonghua Shipbuilding Co., a China State Shipbuilding Corporation (CSSC). Each tanker can carry about 174,000 cubic meters of LNG, equivalent to 108 million cubic meters when re-gasified. The vessels are slated for commissioning between 2024 and 2027., January 2022: GAIL (India) Ltd commenced India's first-of-its-kind project of mixing hydrogen into the natural gas system in Indore, Madhya Pradesh. The hydrogen blended natural gas will be supplied to Avantika Gas Ltd, one of GAIL's joint ventures with HPCL, to retail CNG to automobiles and piped natural gas to households in Indore.. Key drivers for this market are: 4., Increasing Electricity Demand4.; Rsing Investments in the Coal Industry. Potential restraints include: 4., Increasing Installation of Renewable Energy Sources. Notable trends are: Increasing Investments in Natural Gas Production to Drive the Market.

Natural gas liquid (NGL) production proportionally grows with natural gas extraction. The popularity of advanced extraction techniques like hydraulic fracturing has bolstered shale gas production, giving processors a steady revenue flow. The pandemic weakened industrial production and residential and commercial construction, leading to an oversupply of NGLs and causing prices to plummet. This quickly reversed as the economy reopened and natural gas prices surged, spiking production. This growth lasted until 2022, when prices eventually settled down as supply shortages slowly began to wane. Even so, industry-wide revenue swelled at a CAGR of 7.6% through 2025, reaching $99.5 billion, including a modest 17.0% uptick in 2025 alone. Profitability also swelled as processors passed on price hikes to consumers. The ongoing Russia-Ukraine conflict has created NGL supply woes in Europe as Russia has reduced its exports. These supply woes have opened the door for domestic NGL processors to take advantage of the favorable price environment in Europe and strengthen exports. This uptick in demand mitigated the appreciation of the US dollar, which made domestic NGLs more expensive. The EU's need for NGL led to a surge in exports to the country, making the US the largest NGL exporter in the world. Through 2030, revenue is set to stagnate as natural gas prices normalize, following highs over the current period. Nonetheless, expanding industrial production and natural gas extraction will provide processors with a steady stream of business. Even so, with the future of hydraulic fracturing in the air, future regulations can severely hinder production. As European countries look to reduce their dependence on Russian NGLs, exports will remain strong. With the US and EU reaching an agreement to bolster their purchases of NGL over the next three years, through 2028, exports will continue to be a driving force of revenue. Overall, revenue is set to push up at a CAGR of 0.1% through the end of 2030 to total $100.1 billion.

Snapshot img

Natural Gas Liquids (NGLs) Market Size 2025-2029

The natural gas liquids (NGLs) market size is forecast to increase by USD 21.5 billion, at a CAGR of 6.7% between 2024 and 2029.

The market is experiencing significant growth, driven by the expanding petrochemical industry and increasing demand for renewable energy. The petrochemical sector's growth is fueled by the rising production of plastics and other chemicals, which require NGLs as feedstocks. Moreover, the shift towards cleaner energy sources is creating new opportunities for NGLs as they are often used as feedstocks in the production of biofuels and other renewable energy applications. However, the market faces challenges as well. Growing environmental concerns are pushing for stricter regulations on the production and use of NGLs due to their carbon footprint. Additionally, the volatility of crude oil prices and the availability of alternative feedstocks can impact the profitability of NGLs.
Companies operating in the NGLs market must navigate these challenges by investing in sustainable production methods, exploring alternative feedstocks, and building strategic partnerships to stay competitive. By capitalizing on the growth opportunities and addressing these challenges effectively, players in the NGLs market can secure a strong market position and drive long-term success.

What will be the Size of the Natural Gas Liquids (NGLs) Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free Sample

The natural gas liquids (NGL) market is a dynamic and evolving sector, characterized by continuous shifts in supply and demand patterns and applications across various industries. NGLs, including propane, butane, and pentane, are derived from the natural gas value chain through a process called natural gas processing. These liquids find extensive use in various sectors, such as diesel production, hydrogen generation, and synthetic rubber manufacturing. Environmental regulations continue to shape the NGL market, with a focus on reducing greenhouse gas emissions and promoting carbon capture and energy efficiency. Cryogenic separation is a critical process in NGL production, enabling the separation of NGLs from natural gas through low-temperature distillation.

Fuel blending is another significant application of NGLs, with propane and butane used as fuel additives in gasoline and diesel to enhance combustion efficiency and reduce emissions. The ongoing transition towards renewable resources and sustainable development has led to the emergence of bio-based NGLs derived from renewable feedstocks. The NGL market is subject to market volatility due to price fluctuations and supply and demand imbalances. LNG terminals and LNG carriers play a crucial role in facilitating global trade, enabling the transportation of NGLs to markets where demand is high. The circular economy concept is gaining traction in the NGL industry, with a focus on maximizing the value of by-products and minimizing waste.

Fischer-tropsch synthesis is an emerging technology in the NGL market, enabling the conversion of natural gas into liquid hydrocarbons, including jet fuel and diesel. The potential for CO2 sequestration and emissions reduction through the utilization of NGLs in industrial processes and power generation is a significant area of research and development. Overall, the NGL market is a dynamic and evolving sector, with ongoing innovations and regulatory developments shaping its future.

How is this Natural Gas Liquids (NGLs) Industry segmented?

The natural gas liquids (NGLs) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Industrial
  Residential
  Commercial


Product

  Propane
  Butane
  Pentane
  Ethane


Geography

  North America

    US
    Canada


  Europe

    Norway
    Russia


  Middle East and Africa

    Iran
    Qatar
    UAE


  APAC

    Australia
    China


  Rest of World (ROW)

.

By Application Insights

The industrial segment is estimated to witness significant growth during the forecast period.

NGLs, such as ethane and propane, are vital components in the petrochemical industry, serving as essential feedstocks for the production of chemicals and plastics like ethylene, propylene, butadiene, and synthetic rubber. These building blocks are integral to various products, including plastics, synthetic rubber, detergents, and solvents. Propane and butane are also widely used as heating fuels for residential and industrial applications and as fuel for vehicles in areas with limited natural gas access or as LPG for cooking and heating. In refining operation

Annual data on proved reserves of crude oil, natural gas, and natural gas liquids in the U.S. Based on EIA Form-23L data. Proved reserves are estimated volumes of hydrocarbon resources that analysis of geologic and engineering data demonstrates with reasonable certainty are recoverable under existing economic and operating conditions. Reserves estimates change from year to year as new discoveries are made, existing fields are more thoroughly appraised, existing reserves are produced, and prices and technologies change.