$94.5bn
$X.Xbn
17,605
154
$X.Xbn
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 2024, when prices eventually settled down as supply shortages slowly began to wane. Even so, industry-wide revenue swelled at a CAGR of 3.0% through 2024, reaching $94.5 billion, including a modest 3.1% uptick in 2024 alone. Profitability also swelled as processors passed on price hikes to consumers.
Industry revenue has grown at a CAGR of 3.0 % over the past five years, to reach an estimated $94.5bn in 2024.
Market size is projected to decline over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Targa Resources Corp. | 6,093.5 | 660.6 | 10.8 | |
Enterprise Products Partners L.P. | 3,709.8 | 748.4 | 20.2 | |
Exxon Mobil Corporation | 2,325.0 | 4,965.1 | 213.6 |
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Industry revenue is measured across several distinct product and services lines, including Pentane plus and natural gasoline, Ethane and Propane. Pentane plus and natural gasoline is the largest segment of the Natural Gas Liquid Processing in the US.
Soaring gas prices accelerate ethanol production
This industry separates out natural gas liquids (NGLs) from natural gas. Natural gas arrives at processing facilities in a gaseous state, and processors clean the natural gas and extract liquid hydrocarbons including ethane, propane, butane, isobutane and natural gasoline. These liquids have various uses including home heating fuel, inputs in plastic products and heating or blowing fuel in industrial production. The production of NGLs from oil refining is not included in this industry.
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NAICS 21113 - Natural Gas Liquid Processing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
As prices push down from historical highs, revenue will contract. Even so, expanding natural gas extract will provide processors with a steady stream of business.
Learn about an industry's products and services, markets and trends in international trade.
Propane production expands despite low domestic consumption. An unexpectedly mild winter reduced domestic propane consumption, but global supply woes ramped up propane export...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Natural gas liquid processors establish near natural gas extractors. Natural gas liquid processors must establish near natural gas drillers to minimize transportation costs.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Processors compete on price and operating capacity. Companies with greater operating capacity and efficiency have an advantage over smaller processors.
Learn about the performance of the top companies in the industry.
Just one company has amassed more than 5.0% of the market. The massive natural gas output in the US makes it difficult for companies to accumulate a significant portion of th...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Natural gas liquid processors receive indirect public assistance through various government-funded programs. The Department of Energy’s Clean Cities programs provided $300.0 ...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit surges as prices spike. Russia reducing natural gas liquid exports following its invasion of Ukraine, compounded by the explosion of the Nordstream Pipelines, led to s...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Natural Gas Liquid Processing in the US industry in United States is $94.5bn in 2024.
There are 154 businesses in the Natural Gas Liquid Processing in the US industry in United States, which has grown at a CAGR of 2.2 % between 2019 and 2024.
The market size of the Natural Gas Liquid Processing in the US industry in United States has been growing at a CAGR of 3.0 % between 2019 and 2024.
Over the next five years, the Natural Gas Liquid Processing in the US industry in United States is expected to decline.
The biggest companies operating in the Natural Gas Liquid Processing market in United States are Targa Resources Corp., Enterprise Products Partners L.P. and Exxon Mobil Corporation
Separating out pentane plus and natural gasoline during natural gas processing and Separating out ethane during natural gas processing are part of the Natural Gas Liquid Processing in the US industry.
The company holding the most market share in United States is Targa Resources Corp..
The level of competition is moderate and steady in the Natural Gas Liquid Processing in the US industry in United States.