The new report by Expert Market Research titled, ‘Global Gas to Liquid (GTL) Market Growth, Share, Trend, Size, Report and Forecast 2022-2027’, gives an in-depth analysis of the global gas to liquid (GTL) market, assessing the market based on its segments like products, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 6.1%
Over the forecast period, rising concerns about fossil fuel depletion and demand for alternative energy sources are expected to drive industry growth. Increasing demand for the Fischer-Tropsch (FT) route to monetise stranded and unusable natural gas reserves is expected to enhance the demand for technology. Alternative energy sources are projected to be put under pressure due to limited natural gas reserves and rising power demand from booming end-use sectors around the world.
Also, GTL market growth is projected to be aided by the conversion of methane-rich gases into cost-effective, clean synthetic fuels. Gas-to-liquid (GTL) production can enable nations with natural gas resources to grow their economies as novel gas supplies come on stream to fulfil the growing global demand for liquid products. This is expected to propel the market growth in the forecast period.
Industry Definition and Major Segments
Natural gas (the cleanest-burning fossil fuel) is converted into high-quality liquid products using GTL technology, which would otherwise be made from crude oil. Transport fuels, motor oils, and commodities connected to daily requirements, such as plastics, detergents, and cosmetics are among these things.
By product, the market is segmented into:
• GTL Diesel
• GTL Naphtha
By application, the market is divided into:
• Fuel Oil
• Lubricating Oil
• Process Oil
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The development of stringent environmental regulations by numerous governments to control pollution and promote cleaner fuel sources is expected to complement gas to liquid industry growth. Rising transportation requirements in numerous nations are further anticipated to foster GTL market development. Abundant natural gas reserves, which can be developed at a relatively low-cost, offer ample opportunities for gas to liquid market participants.
The increasing development of smaller sized micro-channel reactors in Asian countries, such as China, Japan, and India, will likely foster the GTL industry. Increasing plant construction owing to rising energy consumption in Malaysia, Singapore, Japan, China, and India is expected to boost demand in various regions.
Key Market Players
The major players in the market are Royal Dutch Shell Plc, Chevron Corporation, Sasol Limited, PetroSA, and Velocys Plc, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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