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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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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.
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:
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.
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.
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By product, the market is segmented into:
By application, the market is divided into:
By region, the market is classified into:
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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:
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.
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 Application |
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Breakup by Region |
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Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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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.
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