Graph and download economic data for U.S. Natural Gas Liquid Composite Price (MNGLCP) from Jan 2009 to Dec 2024 about natural resources, composite, gas, price, and USA.

The global natural gas price index stood at 232.28 index points in February 2025. Natural gas prices increased by seven index points that month. The global price index takes into account indices from Europe, Japan, and the United States – some of the largest natural gas trading markets. The U.S. is the leading natural gas exporter in the world. Means of trading natural gas Liquefied natural gas (LNG) is the most common form of trading natural gas. Although piped gas is often the preferred choice for transportation between neighboring producing and consuming countries, seaborne trade as LNG has grown in market volume. This is in part thanks to high consumption in pipeline-inaccessible areas such Japan, Korea, and China, as well as the recent increase in LNG trade by European countries. Major natural gas price benchmarks The natural gas prices often used as global benchmarks are Europe’s Dutch TTF traded on the Intercontinental Exchange, Indonesian LNG in Japan, and the U.S. Henry Hub traded on the New York Mercantile Exchange. 2022 was an especially volatile year for natural gas prices, as supply was severely constrained following sanctions on Russian imports. Other reasons for recent spikes in gas prices are related to issues at refineries, changes in demand, and problems along seaborne supply routes.

Natural gas increased 0.21 USD/MMBtu or 5.84% since the beginning of 2025, 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 March of 2025.

United States - U.S. Natural Gas Liquid Composite Price was 7.28000 $ Per Mil. BTU in December of 2024, according to the United States Federal Reserve. Historically, United States - U.S. Natural Gas Liquid Composite Price reached a record high of 15.88000 in September of 2011 and a record low of 2.85000 in April of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - U.S. Natural Gas Liquid Composite Price - last updated from the United States Federal Reserve on March of 2025.

In 2023, the price of natural gas in Europe reached 13.1 constant U.S. dollars per million British thermal units, compared with 2.5 U.S. dollars in the U.S. This was a notable decrease compared to the previous year, which had seen a steep increase in prices due to an energy supply shortage exacerbated by the Russia-Ukraine war. Since 1980, natural gas prices have typically been higher in Europe than in the United States and are expected to remain so for the coming two years. This is due to the U.S. being a significantly larger natural gas producer than Europe.

What is natural gas and why is it gaining ground in the energy market? Natural gas is commonly burned in power plants with combustion turbines that generate electricity or used as a heating fuel. Given the fact that the world’s energy demand continues to grow, natural gas was seen by some industry leaders as an acceptable "bridge-fuel" to overcome the use of more emission-intensive energy sources such as coal. Subsequently, natural gas has become the main fuel for electricity generation in the U.S., while the global gas power generation share has reached 22 percent.

How domestic production shapes U.S. natural gas prices The combination of hydraulic fracturing (“fracking”) and horizontal drilling can be regarded as one of the oil and gas industry’s biggest breakthroughs in decades, with the U.S. being the largest beneficiary. This technology has helped the industry release unprecedented quantities of gas from deposits, mainly shale and tar sands that were previously thought either inaccessible or uneconomic. It is forecast that U.S. shale gas production could reach 35 trillion cubic feet in 2050, up from 1.77 trillion cubic feet in 2000.

According to Cognitive Market Research, the global Natural Gas Liquids market size will be USD 17542.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.60% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 7016.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 5262.66 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 4034.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 877.11 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 350.84 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031.
The ethane category is the fastest growing segment of the Natural Gas Liquids industry

Market Dynamics of Natural Gas Liquids Market

Key Drivers for Natural Gas Liquids Market

Increasing Petrochemical Industry to Boost Market Growth

The market for natural gas liquids (NGL) is mostly driven by the expanding petrochemical sector. Natural gas liquids (NGLs) like ethane, propane, and butane are vital raw materials for the synthesis of petrochemicals like ethylene and propylene, which are extensively utilized in the creation of synthetic materials, chemicals, and plastics. The need for NGLs is rising due to the petrochemical industry's explosive growth, particularly in North America and Asia. The utilization of NGLs in a variety of applications is growing as a result of growing industrialization and technological developments in chemical processing. The global need for consumer goods, packaging, and industrial materials is driving the petrochemical industry's growth, which in turn will fuel the NGL market's long-term growth.

The Surge in Shale Gas Production to Drive Market Growth

The market for natural gas liquids (NGL) is growing as a result of increased shale gas output. Production of NGLs, including ethane, propane, and butane, has expanded because of the spike in shale gas extraction, especially in North America, through horizontal drilling and hydraulic fracturing technology. These liquids are frequently left over after natural gas from shale formations is extracted. In order to fulfill growing global demand, the U.S. shale boom has improved export prospects and supported local NGL supplies. The supply of NGLs is directly increased by the ongoing expansion of shale gas production, which fosters the long-term growth of the NGL market by meeting the increasing demand from sectors such as transportation, energy, and petrochemicals.

Restraint Factor for the Natural Gas Liquids Market

Price Volatility for Crude Oil Will Limit Market Growth

The volatility of crude oil prices severely constrains

The natural gas liquids (NGL) market. Because NGLs are frequently extracted in conjunction with crude oil and natural gas, changes in oil prices have an immediate effect on how profitable it is to produce NGLs. Oil and gas companies may cut back on drilling when crude oil prices drop, which lowers the output of NGLs. Furthermore, a decline in oil prices may increase the appeal of alternative energy sources, which would lessen the market for NGLs. On the other hand, sudden spikes in oil prices can cause market instability and increase the operational expenses for NGL producers. It is difficult for NGL market participants to sustain consistent growth because of this price volatility, which also makes long-term planning more difficult and causes investor concern.

Impact of Covid-19 on the Natural Gas Liquids Market

The COVID-19 pandemic had a substantial effect on the natural gas liquids (NGL) market because it caused supply chain disruptions on a worldwide scale, decreased energy consumption, and a steep reduction in industrial activity. Lockdowns and limitations reduced the demand for NGLs, especially in the transportation and petrochemical sectors, which are big users of butane, propane, and ethane. The demand for NGLs as alter...

In 2024, the global natural gas price index stood at 167.43 index points. This was down from a peak of 521.58 in 2022. Natural gas prices increased significantly in the latter half of 2021 and throughout much of 2022 owing to greater power demand combined with supply constraints. This trend was also reflected in the monthly natural gas price index.

UK Gas decreased 26.27 GBp/Thm or 20.95% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. UK Natural Gas - values, historical data, forecasts and news - updated on March of 2025.

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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 increasing demand for natural gas in power generation and the expansion of the petrochemical industry. NGLs, which include ethane, propane, butane, and pentane, are essential feedstocks in the production of petrochemicals, plastics, and other industrial products. This trend is particularly prominent in regions with abundant shale gas resources, such as North America. However, the market growth is not without challenges. Growing environmental concerns, particularly with regard to greenhouse gas emissions, are leading to increased regulatory scrutiny and pressure on the industry to reduce its carbon footprint. Additionally, the shift towards renewable energy sources is expected to impact the demand for NGLs in power generation. Companies in the NGLs market must navigate these challenges while capitalizing on opportunities in the petrochemical industry and exploring new applications for NGLs in areas such as transportation fuels and chemical feedstocks. Effective operational planning and strategic partnerships will be crucial for companies seeking to remain competitive in this dynamic market.

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

Request Free SampleThe Natural Gas Liquids (NGL) market encompasses the production, processing, and consumption of hydrocarbon components, specifically ethane, propane, butane, isobutane, and pentanes plus, derived from the natural gas stream. These hydrocarbons possess various chemical compositions and applications, including as feedstocks for petrochemical plants, vehicle fuel, natural gasoline, and as components in industrial processes such as energy recovery and heavy industries. NGL markets have experienced significant growth due to the increasing drilling of liquids-rich resources and the incentives offered by crude oil prices. The carbon and hydrogen content of NGLs make them valuable alternatives to crude oil in various applications. For instance, ethane is used to produce ethylene, a primary building block for plastics and other chemicals. Propane is utilized as an automotive fuel, while butane and isobutane are used as fuel components in combustion engines. The expanding urbanization and industrialization in emerging economies have further fueled the demand for NGLs. Despite the growth, the NGL market faces challenges in transportation infrastructure development and the availability of liquids-rich resources. The market's size and direction remain dynamic, with ongoing exploration and production activities 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. ApplicationIndustrialResidentialCommercialProductPropaneButanePentaneEthaneGeographyNorth AmericaUSCanadaMiddle East and AfricaIranQatarUAEEuropeNorwayRussiaAPACAustraliaChinaSouth America

By Application Insights

The industrial segment is estimated to witness significant growth during the forecast period.Natural Gas Liquids (NGLs), specifically ethane and propane, hold significant importance in the petrochemical sector due to their role as essential feedstocks. In the production of ethylene, propylene, and butadiene, which are fundamental building blocks for various chemicals and plastics, NGLs play a pivotal role. Propane and butane are widely used as heating fuels for residential and industrial applications, and as vehicle fuel in areas with limited natural gas access or as part of LPG for cooking and heating. NGLs contribute significantly to refining processes. Ethane is used in ethane cracking plants to produce ethylene, while propane and butane are key components in the production of petrochemicals and refinery feedstocks. NGLs are transported through various means, including gas pipelines, tanker transport, rail transport, and truck transport, and are stored in underground and aboveground facilities. NGL infrastructure includes gas processing plants, fractionation plants, export terminals, and import terminals. The NGL market is driven by the demand for petrochemicals, energy sector growth, and increasing urbanization and industrialization in emerging economies. NGL production capacity is expected to increase, with demand forecast to follow suit, due to the expanding energy and chemical industries. The NGL supply chain includes natural gas extraction, hydrocarbon processing, and transportation infrastructure development.

Get a glance at the market report of share of var

The average monthly price for natural gas in the United States amounted to 3.02 nominal U.S. dollars per million British thermal units (Btu) in December 2024. By contrast, natural gas prices in Europe were about four times higher than those in the U.S. Prices for Europe tend to be notably higher than those in the U.S. as the latter benefits from being a major hydrocarbon producer. Europe's import reliance European prices for natural gas rose most notable throughout the second half of 2021 and much of 2022, peaking at over 70 U.S. dollars per million Btu in August 2022. The sharp rise was due to supply chain issues and economic strain following the COVID-19 pandemic, which was further exacerbated by Russia’s invasion of Ukraine in early 2022. As a result of the war, many countries began looking for alternative sources, and Russian pipeline gas imports to the European Union declined as a result. Meanwhile, LNG was a great beneficiary, with LNG demand in Europe rising by more than 60 percent between 2021 and 2023. How domestic natural gas production shapes prices As intimated, the United States’ position among the leaders of worldwide natural gas production is one of the main reasons for why prices for this commodity are so low across the country. In 2023, the U.S. produced more than one trillion cubic meters of natural gas, which allays domestic demand and allows for far lower purchasing prices.

Graph and download economic data for Henry Hub Natural Gas Spot Price (MHHNGSP) from Jan 1997 to Feb 2025 about natural resources, gas, price, and USA.

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Global liquefied natural gas prices have shown less volatility in 2024 and 2025 than the years prior, with the benchmark price reaching 14.72 U.S. dollars per million metric British thermal units in February 2025. This figure represents an increase from the same period a year earlier. The global LNG benchmark, which is largely influenced by Asian market trading, particularly Indonesian LNG in Japan, serves as a key indicator for the industry's pricing trends. Natural gas prices become less volatile The Asian LNG market experienced less turbulence in 2023 compared to the previous year, with price volatility dropping to 75 percent. This relative stability followed an exceptionally volatile 2022, when LNG demand surged due to sanctions on Russian imports. The global natural gas price index, which encompasses European, Japanese, and American markets, stood at 207.9 index points in November 2024, showing an increase of nearly 20 points that month. This upward trend in natural gas prices contrasts with the comparatively lower crude oil price indices and follows greater heating demand in the winter months. Landed prices vis-à-vis export prices Due to its geographical location, Japan is exclusively reliant on LNG trading for its natural gas supply. As such, Japan's landed LNG spot price is often higher than for other markets, reaching approximately 10.05 U.S. dollars per million British thermal units in January 2024. By comparison, the world's largest LNG exporter, the United States, has seen its LNG export prices decrease to 7.57 U.S. dollars per thousand cubic feet in 2023, down from 12.24 U.S. dollars the previous year.

Graph and download economic data for Producer Price Index by Industry: Natural Gas Liquids Extraction (PCU211112211112) from Jun 2002 to Jan 2025 about liquids, extraction, gas, PPI, industry, inflation, price index, indexes, price, and USA.

Key natural gas trading hubs in the United States. Primary considerations for areas selected include high trading volumes, geographic coverage, adoption by multiple price reporting agencies, and use in natural gas contracts. Each hub location is identified by an approximate central point.

Explore the dynamic factors influencing ethane prices, including natural gas production rates, global petrochemical demand, and geopolitical events. Learn how technological advancements and market shifts impact pricing, with insights into regional trends and seasonal variations affecting supply and demand.

In Italy, the overall cost of natural gas was for vulnerable protected customers was approximately 122 euro cents per cubic meter in November 2024. The price of the raw material made up over 45 percent of the total natural gas expenditure of an Italian domestic consumer in the Vulnerable Protection Service. The cost of natural gas peaked in December 2022, when it reached 135 euro cents per cubic meter. Both taxes and transportation and gas meter management costs increased towards the end of 2023 and 2024. Until April 2023, system charges were reduced by the Italian government and contributed to make the total natural gas price less burdensome for domestic consumers.

United States - Producer Price Index by Industry: Natural Gas Liquids Extraction: Natural Gas Liquids was 198.25600 Index Jun 1984=100 in January of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Natural Gas Liquids Extraction: Natural Gas Liquids reached a record high of 571.50000 in July of 2008 and a record low of 44.90000 in April of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Natural Gas Liquids Extraction: Natural Gas Liquids - last updated from the United States Federal Reserve on March of 2025.

5345 Global export shipment records of Ngl with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

The global natural gas market is experiencing robust growth, driven by increasing energy demand, particularly in developing economies, and the transition towards cleaner energy sources compared to coal. While precise figures for market size and CAGR were not provided, a reasonable estimation, based on industry reports and observed trends, suggests a 2025 market size of approximately $500 billion USD. Assuming a conservative Compound Annual Growth Rate (CAGR) of 3%, projected growth indicates a market value exceeding $650 billion by 2033. Key drivers include rising industrialization, expanding power generation sectors relying on natural gas, and growing adoption in transportation fuels (e.g., compressed natural gas vehicles). Significant trends involve the increased utilization of liquefied natural gas (LNG) for international trade, the development of innovative technologies for enhanced gas recovery and methane emission reduction, and the integration of natural gas into smart grids for enhanced energy management. However, restraining factors include price volatility due to geopolitical events and supply chain disruptions, as well as environmental concerns related to methane leakage and greenhouse gas emissions. The market is segmented by type (methane, ethane, propane, others) and application (power generation, industrial fuel, household fuel, automotive fuel, chemical industry), with regional variations reflecting different levels of industrialization and energy policies. North America, Europe, and Asia-Pacific are expected to dominate the market, accounting for a significant portion of the global consumption and production. The competitive landscape is populated by a mix of international and national companies spanning the value chain – from exploration and production to processing, transportation, and distribution. Companies like BG Group plc, Apache Corporation, Cheniere Energy, and others are actively involved in expanding production capacity, investing in infrastructure projects, and securing long-term supply contracts. Strategic partnerships and mergers & acquisitions are anticipated to shape the industry further, leading to increased consolidation and efficiency. Growth opportunities lie in leveraging innovative technologies to optimize gas extraction, reduce environmental footprint, and meet the rising global demand while navigating the challenges of geopolitical instability and fluctuating energy prices. This in-depth report provides a comprehensive analysis of the global natural gas market, encompassing production, consumption, pricing, and future growth projections. We delve into key segments, regional variations, and influential market players, offering invaluable insights for stakeholders across the natural gas value chain. Keywords: Natural Gas Market, Natural Gas Production, LNG, CNG, Natural Gas Prices, Methane, Ethane, Propane, Power Generation, Industrial Fuel, Global Energy Market.