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Global Gas to Liquid (GTL) Market Size, Share, Trends: By Product: GTL Diesel, GTL Naphtha; By Application: Fuel Oil, Lubricating Oil, Process Oil, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032
Global Gas to Liquid (GTL) Market Outlook
The global gas to liquid (GTL) market is expected to grow at a CAGR of 6.1% during the period 2024-2032. North America, Europe and Asia are expected to be key markets.
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Global Market Likely to be Driven by Increasing Demand for Clean Energy
Gas-to-liquid (GTL) technology is used to convert natural gas (the cleanest-burning fossil fuel) into high-quality liquid products which would be otherwise manufactured from crude oil. These products include transport fuels, motor oils and items related to daily necessities like plastics, detergents and cosmetics. In other words, gas to liquid (GTL) is a process that converts natural gas into liquid fuels such as gasoline, jet fuel, and diesel. It can also be used to make waxes. The most common technique used at gas to liquid (GTL) facilities is Fischer-Tropsch (F-T) synthesis.
Gas-to-liquid (GTL) products are odourless and colourless, and carry almost none of the impurities (such as sulphur, aromatics and nitrogen) found in crude oil. 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 growing global demand for liquid products.
Global Gas to Liquid (GTL) Market Expected to Grow as Authorities Look for Solutions to Air Pollution
While global demand for energy grows, urban authorities and public transport operators seek immediate solutions to cope with air pollution in cities. Gas-to-liquid (GTL) fuel can offer a solution that helps decrease emissions. With a high cetane number and burning more cleanly, gas-to-liquid (GTL) fuel releases lesser nitrogen oxides (NOx), sulphur oxides (SOx) and particulate matter (PM) than conventional diesel. Leading companies such as Shell offer Gas-to-liquid (GTL) fuel that can be used without modifications in existing fleets, and in new as well as old diesel vehicles, enabling firms to immediately decrease local emissions.
Benefits of gas-to-liquid (GTL) fuel include:
- Decreased local emissions (NOx, SOx, PM/soot).
- Easy integration in and old heavy-duty vehicles.
- Ready switchover from diesel fuel; no need for infrastructure investment.
- Possible reduction in engine noise.
- Gas-to-liquid (GTL) fuel is non-toxic, odourless, and readily biodegradable, and has a low hazard rating, being a paraffinic fuel.
Increasing Demand for Mobility and Growing Pressure on the Transport Sector Likely to Stimulate Global Gas to Liquid (GTL) Market
As demand for mobility grows, there is increased pressure on the transport businesses to decrease their ecological impact. With strengthening of environmental regulations, urban authorities and public transport operators today seek immediate solutions to cope with air pollution in cities and urban areas.
Gas-to-liquid (GTL) fuel may be used in buses, trucks, trains, diggers, cranes, power generators, offshore vessels or passenger cruise ships. In Europe, it is commonly used in public buses, city utility vehicles, heavy-duty trucks, offshore vessels, inland barge, tourist boats and cruise ships.
Emerging Nations Expected to Drive Market Growth
Over the past two decades, strong growth in emerging nations has increased global oil consumption. With growing global population, especially in developing nations, the demand for energy is expected to further increase. Transportation accounts for a significant percentage of global energy consumption, driven by rising sales of relatively affordable motor vehicles. Leading firms seek to expand their capacities to meet growing demand. For example, Sasol seeks to construct more gas-to-liquid facilities that are at various stages of development. The company’s most advanced plans are in Nigeria, Uzbekistan, Canada and the United States, all countries with significant natural gas resources.
Market Segmentation
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By product, the market is segmented into:
- GTL Diesel
- GTL Naphtha
By application, the market is divided into:
- Fuel Oil
- Lubricating Oil
- Process Oil
- Others
By region, the market is classified into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Industry Players in the Global Gas to Liquid (GTL) Market
The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Royal Dutch Shell Plc
- Chevron Corporation
- Sasol Limited
- PetroSA
- Velocys Plc
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Gas to Liquid (GTL) Market Analysis
8.1 Key Industry Highlights
8.2 Global Gas to Liquid (GTL) Historical Market (2018-2023)
8.3 Global Gas to Liquid (GTL) Market Forecast (2024-2032)
8.4 Global Gas to Liquid (GTL) Market by Product
8.4.1 GTL Diesel
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 GTL Naphtha
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Gas to Liquid (GTL) Market by Application
8.5.1 Fuel Oil
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Lubricating Oil
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Process Oil
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.8 Global Gas to Liquid (GTL) Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Gas to Liquid (GTL) Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Gas to Liquid (GTL) Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Gas to Liquid (GTL) Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Gas to Liquid (GTL) Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Gas to Liquid (GTL) Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Royal Dutch Shell Plc
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Chevron Corporation
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Sasol Limited
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 PetroSA
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.3.4 Certifications
16.2.5 Velocys Plc
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Figures and Tables
1. Global Gas to Liquid (GTL) Market: Key Industry Highlights, 2018 and 2032
2. Global Gas to Liquid (GTL) Historical Market: Breakup by Product (USD Million), 2018-2023
3. Global Gas to Liquid (GTL) Market Forecast: Breakup by Product (USD Million), 2024-2032
4. Global Gas to Liquid (GTL) Historical Market: Breakup by Applications (USD Million), 2018-2023
5. Global Gas to Liquid (GTL) Market Forecast: Breakup by Applications (USD Million), 2024-2032
6. Global Gas to Liquid (GTL) Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Gas to Liquid (GTL) Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Gas to Liquid (GTL) Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Gas to Liquid (GTL) Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Gas to Liquid (GTL) Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Gas to Liquid (GTL) Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Gas to Liquid (GTL) Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Gas to Liquid (GTL) Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Gas to Liquid (GTL) Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Gas to Liquid (GTL) Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Gas to Liquid (GTL) Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Gas to Liquid (GTL) Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Global Gas to Liquid (GTL) Market Structure
Key Questions Answered in the Report
The global gas to liquid (GTL) market is projected to grow at a CAGR of 6.1% between 2024 and 2032.
The major drivers of the market include the development of stringent environmental regulations, rising transportation requirements, increasing demand for the Fischer-Tropsch (FT) route, and increasing power demand from burgeoning end-use industries.
Increasing concerns over fossil fuel depletion and growing demand for alternative energy sources are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various products in the market are GTL diesel and GTL naphtha.
The significant applications include fuel oil, lubricating oil, and process oil, among others.
The major players in the industry are Royal Dutch Shell Plc, Chevron Corporation, Sasol Limited, PetroSA, and Velocys Plc, among others.
Analyst Review
The global gas to liquid (GTL) market was driven by the increasing concerns over fossil fuel depletion in the historical period. Aided by the development of stringent environmental regulations and growing demand for alternative energy sources, the market is expected to witness further growth in the forecast period of 2024-2032, growing at a CAGR of 6.1%.
EMR's meticulous research methodology delves deep into the market covering the macro and micro aspects of the industry. The various products in the market are GTL diesel and GTL naphtha. The significant applications include fuel oil, lubricating oil, and process oil, among others. The major regional markets for gas to liquid (GTL) are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The major players in the industry are Royal Dutch Shell Plc, Chevron Corporation, Sasol Limited, PetroSA, and Velocys Plc, among others.
EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.
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