PUBLISHER: The Business Research Company | PRODUCT CODE: 1425499
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425499
Gas To Liquid (GTL) Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on gas to liquid (gtl) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for gas to liquid (gtl)? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The gas to liquid (gtl) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Gas to liquid (GTL) is a process employed in the production of clean fuels derived from natural gases, resulting in products such as transport fuels, motor oils, and key ingredients for petroleum-based items like plastics, detergents, and cosmetics. GTL technology specifically denotes the chemical transformation of natural gas into gasoline or diesel fuel.
The primary products of the gas-to-liquid (GTL) market include natural gasoline, isobutene, propane, and ethane. Natural gasoline is a mixture of liquid hydrocarbons recovered from natural gases, including pentanes and heavier hydrocarbons. It is utilized in converting natural gas into liquid fuels suitable for heating, cooking, engines, and industrial purposes. Various processing technologies are employed in GTL, including methanol to gasoline (MTG), Fischer-Tropsch (FT), syngas to gasoline plus process, and others. These technologies can be implemented in plants of various sizes, ranging from small-scale to large-scale. The applications of GTL products extend to fuel oil, lubricating oil, process oil, and various other industrial uses, showcasing the versatility and significance of the gas-to-liquid process in the energy and petrochemical industries.
The gas to liquid market research report is one of a series of new reports from The Business Research Company that provides gas to liquid market statistics, including gas to liquid industry global market size, regional shares, competitors with a gas to liquid market share, detailed gas to liquid market segments, market trends and opportunities, and any further data you may need to thrive in the gas to liquid industry. This gas-to-liquid market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 observed in the historical period can be attributed to the availability of abundant natural gas resources, the strategic location of gas reserves, the reduction in greenhouse gas emissions, the global emphasis on sustainable energy, and the 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 anticipated growth in the forecast period can be attributed to the increasing demand for diesel and jet fuels, stringent government regulations on emissions, a growing emphasis on the circular economy, a shift towards cleaner energy sources, efforts to improve energy access in remote areas, and a global surplus of natural gas. Major trends expected in the forecast period include market expansion in emerging economies, advancements in Gas-to-Liquids (GTL) technology, the diversification of GTL product portfolios, the integration of GTL with renewable energy sources, the commercialization of small-scale GTL, and a rise in partnerships and collaborations within the industry.
The gas-to-liquid (GTL) market is poised for growth, driven by the escalating production of natural gas. Natural gas, a flammable gaseous hydrocarbon primarily composed of methane and ethane, is harnessed for heat and power in the production process. GTL technology plays a pivotal role in converting natural gas into colorless and odorless hydrocarbons, including clean-burning fuel, liquid petroleum gas, base oil, and naphtha. Notably, data from the US Energy Information Administration (EIA) indicates a substantial 6% increase in total natural gas production in the US during the first three quarters of 2023. This surge underscores the market's growth trajectory, propelled by the rising production of natural gas.
The gas-to-liquid (GTL) market is witnessing significant momentum due to the increasing global demand for oil and gas. Oil and gas, crucial hydrocarbons extracted from beneath the Earth's surface, serve as primary energy sources and raw materials for diverse industries. GTL technology emerges as a transformative solution, converting natural gas into liquid fuels and offering a cleaner and more versatile energy source in the oil and gas sector. According to the International Energy Agency (IEA), the global oil demand is set to surge, reaching 101.6 million barrels per day in 2022, emphasizing the pivotal role of GTL technology in meeting the escalating demand for oil and gas.
A key trend shaping the gas-to-liquid (GTL) market landscape is the emphasis on technological advancements. Major industry players are committed to developing innovative solutions to maintain their market positions. Notable among these innovations is Shell Advance Fuel Save 10W30, leveraging Shell's patented PurePlus Technology. Launched in April 2022, this motorcycle oil enhances gear shifting, smooth clutch control, and reduces engine vibration and noise. Furthermore, it contributes to fuel efficiency, providing an extra mileage of 5 km per liter. This technological advancement showcases the market's commitment to delivering superior performance and addressing evolving consumer needs.
The gas-to-liquid (GTL) market is witnessing the launch of sustainable technological solutions to address challenges in industries like aviation related to carbon emissions. A notable example is the introduction of HyCOgen by Johnson Matthey, a technology facilitating the conversion of captured carbon dioxide (CO2) and green hydrogen into sustainable aviation fuel (SAF). This technology, integrating Reverse Water Gas Shift technology and Fischer Tropsch technology, achieves over 95% conversion of CO2 into high-quality synthetic crude oil. The emergence of such sustainable technologies underscores the industry's commitment to environmental responsibility and the reduction of carbon emissions in critical sectors like aviation.
In May 2022, ENG, a U.S.-based provider of innovative project delivery solutions for the energy industry, successfully acquired Calvert Group Belgium (Calvert) along with its exclusive license to patented gas-to-liquid (GTL) technology. This strategic acquisition, undertaken for an undisclosed amount, positions ENG to harness Calvert's groundbreaking GTL technology. The technology enables the conversion of flare gas and stranded gas into synthetic liquids, such as crude oil or diesel. ENG's objective is to utilize this revolutionary technology to address both environmental and economic challenges associated with gas flaring. Calvert Group Belgium, headquartered in Belgium, is a producer of fuel and electric power with a focus on developing vertically integrated projects.
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, and GTL Limited.
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.
The countries covered in the gas to liquid (gtl) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The gas-to-liquid market consists of revenues earned by entities by providing services by converting methanol to gasoline, fischer-tropsch (FT), syngas to gasoline, plus process. The market value includes the value of related goods sold by the service provider or included within the service offering. The gas-to-liquid market also includes sales of natural gas, gasoline, isobutene, propane, and ethane. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.