Overview and Scope
Gas to liquid is a process used in the production of clean fuels from natural gases, such as transport fuels, motor oils, and the petroleum ingredients used in plastics, detergents, and cosmetics. Gas to liquid (GTL) technology refers to the chemical process by which natural gas is changed into gasoline or diesel fuel.
Sizing and Forecast
The gas to liquid (gtl) market size has grown strongly in recent years. It will grow from $7.6 billion in 2023 to $8.09 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to abundant natural gas resources, strategic location of gas reserves, reduced greenhouse gas emissions, global focus on sustainable energy, market demand for high-quality fuels..
The gas to liquid (gtl) market size is expected to see strong growth in the next few years. It will grow to $10.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to rising demand for diesel and jet fuels, government regulations on emissions, focus on circular economy, shift towards cleaner energy sources, energy access in remote areas, global natural gas surplus.. Major trends in the forecast period include market expansion in emerging economies, advancements in gtl technology, diversification of gtl product portfolio, integration of gtl with renewable energy, commercialization of small-scale gtl, partnerships and collaborations..
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Segmentation & Regional Insights
The gas to liquid (gtl) market covered in this report is segmented –
1) By Product: Natural Gasoline, Isobutene, Propane, Ethane
2) By Processing Technology: Methanol to Gasoline (MTG), Fischer-Tropsch (FT), Syngas to Gasoline Plus Process, Other Processing Technology
3) By Plant Size: Small-Scale Plant, Large-Scale Plant
4) By Application: Fuel Oil, Lubricating Oil, Process Oil, Other Applications
Middle East was the largest region in the gas to liquid market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gas to liquid (gtl) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rise in natural gas production is expected to propel the growth of the gas-to-liquid (GTL) market. Natural gas refers to a colorless flammable gaseous hydrocarbon commonly composed of methane and ethane to generate heat and power in natural gas production. Gas-to-liquid (GTL) technology helps produce colorless and odorless hydrocarbons such as clean-burning fuel, liquid petroleum gas, base oil, and naphtha. For instance, in 2023, according to the report by the US Energy Information Administration (EIA), the US-based Federal Statistical System for collecting, analyzing, and disseminating energy information, total natural gas production in the US increased by 6% during the first three quarters of 2023. Therefore, the rise in natural gas production is driving the growth of the gas-to-liquid (GTL) market.
Key Industry Players
Major companies operating in the gas to liquid (gtl) market report are Royal Dutch Shell plc, Chevron Corporation, Sasol Limited, Petro SA, Velocys plc, Oryx Gas-to-Liquids Limited, Oltin Yol GTL LLC, Linc Energy Limited, CompactGTL Limited, Primus Green Energy Inc., Gas Technologies LLC, NRG Energy Inc., Petroleo Brasileiro S.A., ExxonMobil Corporation, Linde plc, QatarEnergy, Saudi Arabian Oil Company, Devon Energy Corporation, ConocoPhillips Company, Ventech Engineers International LLC, Axens SA, Infra Green Technologies Limited, Black & Veatch Corp., Equinor ASA, Greyrock Energy Inc., Haldor Topsoe A/S, KBR Inc., Kenon Holdings Ltd., The Nigerian National Petroleum Corporation Limited, OxEon Energy LLC, ENI S.p.A., BP plc, TotalEnergies SE, TechnipFMC plc, Air Liquide S.A., Siemens AG, General Electric Company, Honeywell International Inc., Johnson Matthey plc, Amec Foster Wheeler AG, Uhde GmbH, GTL Limited
The gas to liquid (gtl) market report table of contents includes:
1. Executive Summary
2. Gas To Liquid (GTL) Market Characteristics
3. Gas To Liquid (GTL) Market Trends And Strategies
4. Gas To Liquid (GTL) Market – Macro Economic Scenario
5. Global Gas To Liquid (GTL) Market Size and Growth
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31. Global Gas To Liquid (GTL) Market Competitive Benchmarking
32. Global Gas To Liquid (GTL) Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Gas To Liquid (GTL) Market
34. Gas To Liquid (GTL) Market Future Outlook and Potential Analysis
35. Appendix
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