Global Gas to Liquid (GTL) Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Gas to Liquid (GTL) Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global gas to liquid market report has been segmented on the basis of product type, technology, application, and region.
Global Gas to Liquid Market: Overview
Gas to liquid refers to a refinery process which convert natural gas into high-quality liquid fuels such as diesel, gasoline, and naphtha.
Global Gas to Liquid Market: Dynamics
Increasing demand for liquid fuels owing to higher convenience terms of transportation and storage, coupled with increasing adoption of clean energy source among individuals across globe are some of the major factors expected to boost growth of the target market over the forecast period. In addition, technological advancement along with guidelines implemented by various governments such as Petroleum and Natural Gas Regulatory Board Act, 2006, Oil Industry (Development) Act, 1974, and Oilfields (Regulation and Development) Act of 1948, are likely to encourage conservation of petroleum products in various sectors/end-users of the economy. Also, stringent regulations adopted by government to control carbon footprint to promote cleaner fuel sources, expected to play an important role for growth of the target market. Moreover, rapidly rising population, urbanization, and increasing transportation activities are some of the other factors bolster growth of the global market.
However, high capital investment cost associated with refinery processes is a major factor may restrain growth of the global market during the forecast period.
Global Gas to Liquid Market: Segment Analysis
Global gas to liquid market is segmented on the basis of product type, technology, application, and geography.
On the basis of product type, the global market is segmented into GTL diesel and GTL naphtha. GTL diesel segment is expected to hold significant share in the market over the forecast period.
On the basis of technology, the global market is segmented into methanol to gasoline (MTG), fischer-tropsch (FT), and syngas. The fischer-tropsch (FT) segment is expected to register significant share in the market over the forecast period.
On the basis of application, the fuel oil segment is expected to hold major share in the global target market over the forecast period.
Gas to Liquid Market: Regional Analysis
The market in Asia Pacific is expected to account for highest share in terms of revenue and is expected to maintain its dominance over the forecast period. This dominance is attributed to increasing gas to liquid plant set-ups owing to rising energy consumption, initiatives taken by government in developing countries like Indonesia, Malaysia, Singapore, Japan, China, and India. The Middle East & Africa accounts for Signiant revenue share in the global market and is expected to witness considerable growth in the upcoming period. Most of GTL plants are located in Qatar, Nigeria, South Africa, and Mozambique.
Key players are increasingly focusing on producing synthetic, ‘green’ fuels by utilizing GTL services. According to the Global Gas Flaring Reduction Partnership (GGFR), a World Bank-led organization comprised oil companies, governments, and international institutions working to reduce gas flaring. Moreover, according to World Bank estimations, over 150 billion cubic meters (bcm) of flare gas is extracted annually, which can easily be transformed into convenient synthetic fuel using the technology.
Global Gas to Liquid Market Segmentation:
Segmentation by Product Type:
- GTL Diesel
- GTL Naphtha
Segmentation by Technology:
- Methanol to Gasoline (MTG)
- Fischer-Tropsch (FT)
Segmentation by Application:
- Fuel Oil
- Lubricating Oil
- Process Oil
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Linc Energy
- Compact GTL
- Primus Green Energy
- Royal Dutch Shell plc.
- Chevron Corporation
- Sasol Limited
- Velocys Plc.
- ORYX GTL
- OLTIN YO’L GTL
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