Market overview
The global natural gas liquids market is worth USD 144 bn in 2026 and is forecast to reach USD 200 bn by 2036, growing at a 3.3% CAGR. United States is the largest country market and Propane is the largest by product segment.
| Scope | Ethane, propane, butane and natural gasoline recovered from natural gas processing and refineries, valued at production sold. |
|---|---|
| Industry | Oil and Gas |
| Value 2025 | USD 140 bn |
| Value 2026 | USD 144 bn |
| Value 2036 | USD 200 bn |
| CAGR 2026-2036 | 3.3% |
| Volume 2026 | 5,609 million barrels |
| Volume 2036 | 7,025 million barrels |
| Average price 2026 | USD 25.7 per barrel |
| Report price | Starts from USD 1,999 |
| Published | November 2026 |
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Natural Gas Liquids market size and forecast, 2026-2036
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Year | Market value |
|---|---|
| 2026 | USD 144 bn |
| 2027 | USD 149 bn |
| 2028 | USD 154 bn |
| 2029 | USD 159 bn |
| 2030 | USD 164 bn |
| 2031 | USD 170 bn |
| 2032 | USD 175 bn |
| 2033 | USD 181 bn |
| 2034 | USD 187 bn |
| 2035 | USD 193 bn |
| 2036 | USD 200 bn |
Natural Gas Liquids market segmentation
By product
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Ethane | 30.0% | 30.7% | USD 43.3 bn | 3.5% |
| Propane | 36.0% | 36.9% | USD 51.9 bn | 3.5% |
| Butanes | 18.0% | 17.6% | USD 26.0 bn | 3.0% |
| Natural gasoline and others | 16.0% | 14.9% | USD 23.1 bn | 2.5% |
By end use
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Petrochemical feedstock | 52.0% | 55.1% | USD 75.0 bn | 3.9% |
| Residential and commercial fuel | 24.0% | 22.4% | USD 34.6 bn | 2.6% |
| Refinery blending | 12.0% | 10.7% | USD 17.3 bn | 2.1% |
| Others | 12.0% | 11.8% | USD 17.3 bn | 3.1% |
By source
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Gas processing plants | 62.0% | 60.0% | USD 89.4 bn | 3.0% |
| Refineries | 26.0% | 26.0% | USD 37.5 bn | 3.3% |
| Condensate splitters | 12.0% | 14.0% | USD 17.3 bn | 4.9% |
By transport mode
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Pipeline | 46.0% | 44.0% | USD 66.3 bn | 2.8% |
| Rail and truck | 30.0% | 28.0% | USD 43.3 bn | 2.6% |
| Marine | 24.0% | 28.0% | USD 34.6 bn | 4.9% |
By pricing basis
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Index-linked contracts | 56.0% | 52.0% | USD 80.8 bn | 2.5% |
| Spot sales | 24.0% | 26.0% | USD 34.6 bn | 4.1% |
| Government regulated | 20.0% | 22.0% | USD 28.8 bn | 4.3% |
Top 25 countries for natural gas liquids by revenue
Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 75.0% of 2026 revenue and the 25 countries below together hold 93.0%.
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| # | Country | Value 2026 | Share 2026 | Value 2036 | CAGR 2026-36 |
|---|---|---|---|---|---|
| 1 | United States | USD 34.6 bn | 24.0% | USD 46.9 bn | 3.1% |
| 2 | China | USD 21.6 bn | 15.0% | USD 33.9 bn | 4.6% |
| 3 | India | USD 11.5 bn | 8.0% | USD 18.0 bn | 4.5% |
| 4 | Japan | USD 7.2 bn | 5.0% | USD 8.0 bn | 1.0% |
| 5 | Saudi Arabia | USD 7.2 bn | 5.0% | USD 9.8 bn | 3.1% |
| 6 | South Korea | USD 5.8 bn | 4.0% | USD 7.0 bn | 1.9% |
| 7 | Canada | USD 5.8 bn | 4.0% | USD 7.4 bn | 2.5% |
| 8 | Germany | USD 5.0 bn | 3.5% | USD 6.0 bn | 1.7% |
| 9 | Russia | USD 5.0 bn | 3.5% | USD 6.2 bn | 2.0% |
| 10 | Brazil | USD 4.3 bn | 3.0% | USD 6.2 bn | 3.6% |
| 11 | Iran | USD 3.5 bn | 2.4% | USD 5.7 bn | 5.1% |
| 12 | Mexico | USD 3.1 bn | 2.1% | USD 4.1 bn | 2.9% |
| 13 | Qatar | USD 2.7 bn | 1.9% | USD 4.5 bn | 5.2% |
| 14 | Thailand | USD 2.4 bn | 1.7% | USD 3.2 bn | 2.8% |
| 15 | Indonesia | USD 2.2 bn | 1.5% | USD 2.9 bn | 2.9% |
| 16 | Argentina | USD 1.9 bn | 1.3% | USD 3.2 bn | 5.2% |
| 17 | Australia | USD 1.7 bn | 1.2% | USD 2.3 bn | 2.9% |
| 18 | Algeria | USD 1.5 bn | 1.1% | USD 2.0 bn | 2.8% |
| 19 | Kuwait | USD 1.4 bn | 0.9% | USD 1.8 bn | 2.9% |
| 20 | Netherlands | USD 1.2 bn | 0.8% | USD 1.4 bn | 1.1% |
| 21 | Italy | USD 1.1 bn | 0.8% | USD 1.2 bn | 1.2% |
| 22 | France | USD 966 mn | 0.7% | USD 1.1 bn | 1.1% |
| 23 | Malaysia | USD 851 mn | 0.6% | USD 1.1 bn | 2.9% |
| 24 | Spain | USD 764 mn | 0.5% | USD 858 mn | 1.2% |
| 25 | Turkey | USD 678 mn | 0.5% | USD 898 mn | 2.9% |
| Rest of world | USD 10.1 bn | 7.0% | USD 14.1 bn | 3.4% |
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
Competitive landscape
Group 1: Global leaders
- Enterprise Products Partners
- Saudi Aramco
- ExxonMobil
- Targa Resources
- ONEOK
- Energy Transfer
- QatarEnergy
Group 2: Regional and specialist players
- Williams Companies
- ADNOC
- Pembina Pipeline
- DCP Midstream
- MPLX
- Kinder Morgan
- Gazprom
- Sibur
Group 3: Emerging and niche players
- Keyera
- Western Midstream
- AltaGas
- Kinetik
Research methodology
Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the natural gas liquids market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.
The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 3.3% is calculated from the resulting values.
The market is divided by product, by end use, by source, by transport mode, by pricing basis. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.
Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.
Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.
Frequently asked questions
How big is the natural gas liquids market?
The global natural gas liquids market is estimated at USD 140 bn in 2025 and USD 144 bn in 2026.
How fast will the natural gas liquids market grow?
It is forecast to reach USD 200 bn by 2036, a compound annual growth rate of 3.3% from 2026, an increase of USD 55.3 bn.
Which country is the largest market for natural gas liquids?
United States is the largest market by revenue at USD 34.6 bn in 2026, 24.0% of the global total. The three largest countries together hold 47.0%.
Which country is growing fastest?
Among the ten largest markets, China is growing fastest at 4.6% a year from 2026 to 2036.
Which natural gas liquids segment is largest?
In the by product split, Propane is the largest segment with 36.0% of 2026 revenue.
Who are the leading natural gas liquids companies?
Global leaders include Enterprise Products Partners, Saudi Aramco, ExxonMobil, Targa Resources.
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