North America Natural Gas Liquid Market Share is anticipated to witness substantial growth on account of the rapid industrialization leading to surge in investments across petrochemical industry. The upsurge in consumption of petroleum products for burning, heating and cooking purposes will positively influence the industry growth. In addition, the soaring demand for synthetic rubber and plastic production applications will fuel the business growth over the forecast period.

Growing investments on clean energy sources with rising regulatory concern towards harmful atmospheric emission will augment the natural gas liquid market. Moreover, the rising need to cater domestic demand in order to attain self-sufficiency and strengthen energy security will further stimulate the business landscape. In addition, rapid urbanization and industrialization along with steady increase in global population will boost the industry outlook.

Ethane demand is set to expand on account of its growing application across downstream and petrochemical industries. In addition, ethylene is a key component consumed as a feedstock in manufacturing plastics, resins and several other industrial products which will further enhance the industry growth over the forecast timeline.

Decreased carbon trajectory, high replacement ability and broad applications across several industrial operation are the key underlying factors that will augment the North America butane natural gas liquid market size. Butane is delivered to its customers in the form of tires produced from synthetic rubber and liquified petroleum gas (LPG).

Petrochemical feedstock will witness substantial growth on account of rising demand for polyethylene by-products across various manufacturing facilities. In addition, escalating focus on environmental protection along with the evaluation of substitute fuel enhancement technologies will accelerate the industry growth over the forecast period.

The space heating sector will grow on account of the rising population with growing investments towards development of green building structures. Moreover, shifting trend toward the sustainable energy sources coupled with the surging demand for several energy efficient systems will drive the global market growth.

U.S. natural gas liquid market is set to grow on account of economical price structure. In addition, rising focus towards national energy safety & self-adequacy will further boost the industry growth. For instance, as per BP energy outlook, production rate of natural gas liquids witnessed a growth over 55% from 2012 to 2018.

Key emerging players operating across the market include Equinor, Devon, Total, BP, Lukoil, ConocoPhilips, Chevron, Royal Dutch Shell, Gazprom, Canadian Natural Resources, Petrobras, Eni and Exxon.