The global gas to liquid (GTL) market is anticipated to expand by achieving a valuation of USD 20,387.33 million by 2025. The target of valuation is set to reach at 7.55% CAGR during the forecast period.
gas to liquid (GTL) products are considered to be odorless and colorless and do not contain any impurities that are extant in crude oil such as nitrogen, aromatics, and sulfur. The gas to liquid (GTL) market in recent years has observed rapid growth in support of the convenience of liquid fuels regarding storage and transportation. Liquid fuels that are attained from this process are mainly of superior quality as compared to that acquired from natural gas. Moreover, diesel fuel received through the gas to liquid (GTL) process generally comprises lower volumes of particulates, pollutants, and sulfur as compared to conventional diesel fuels.
Market Drivers & Trends
The global Gas to liquid (GTL) Market is probable to observe extensive growth during the forecast period. The factors that are bolstering the growth of the gas to liquid (GTL) market include escalating demand for clean energy source, mounting need for liquid fuels for storage and transportation convenience, strict government regulations for controlling carbon footprint to promote cleaner fuel sources, increasing transportation activities, urbanization and rapidly rising population.
On the other hand, the additional factors that are propelling the market growth thus include the surge in industrial growth and escalated usage of fuel oil especially in boilers as well as other equipment to produce heat and energy. The increasing consumption of natural gas primarily in developed regions, across the world, and the availability of micro-channel reactors are assuring to open opportunities for the gas to liquid (GTL) market.
Furthermore, not to forget, the ongoing progressions in technology coupled with guidelines that various governments have implemented such as Oilfields Act of 1948, Oil Industry Act, 1974 and Petroleum and Natural Gas Regulatory Board Act, 2006 are also anticipated to boost conservation of petroleum products in different end-users or sectors of the economy.
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The crucial players of global gas to liquid (GTL) market are listed as Royal Dutch Shell (Netherlands), Chevron Corporation (US), Sasol Limited (South Africa), Petro SA (South Africa), Velocys PLC (US), ORYX GTL (Qatar), OLTIN YO’L GTL (Uzbekistan), Linc Energy (Australia), Compact GTL (UK), Primus Green Energy (US), Gas Techno (US), and NRG Energy (US)..
The segmentation of the global gas to liquid (GTL) market has done based on product and application.
In terms of application: It includes fuel oil, lubricating oil, process oil, and others. Fuel oil grabbed the largest market share, and fuel oil is considered to be the advanced heavy fuel oil that is used in boilers and other equipment for generating heat and energy in manufacturing operations and processes. In the end, lubricating oil was the second-largest market, and it offers excellent oxidation stability and low viscosity, even at low temperatures. gas to liquid (GTL) process oils is used in an inclusive variety of chemical and technical industries, as a raw material component or as an aid to processing. GTL process oils have a water-white color as well as they provide an even chemical structure, a high flash point, and low volatility, as well as a great light and thermal stability.
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Region-specific analysis of the bubble wrap packaging market spans across North America, Middle East & Africa, and the Rest of the World (RoW).
Among these, Middle-East & Africa region is estimated to be a prominent one for the gas to liquid (GTL) market. Moreover, Qatar is anticipated to own the most significant market share in the Middle-East & African region. According to the US EIA 2015, Qatar is a global leader in gas to liquid (GTL) technologies and has low operational facilities in the country. The Oryx GTL plant is a joint venture of Qatar Petroleum (51 percent) and Sasol-Chevron (49 percent as the plant can produce 30,000 barrels per day of gas to liquid (GTL) products. The second plant, Pearl GTL plant is a joint venture of Qatar Petroleum (51 percent) and Shell (49 percent and can produce 140,000 barrels per day.
Global Gas to Liquid (GTL) market Following Details Segment by Table of Contents:
- Report Overview
- Market Trends and Competitive Landscapes
- Segmentation of Gas to Liquid (GTL) Market by Type
- Segmentation of Market by End-Users
- Market Analysis by Major Regions
- Product Commodity of Market in Major Countries
- North America Gas to Liquid (GTL) Landscapes Analysis
- Europe Gas to Liquid (GTL) Landscapes Analysis
- Asia Pacific Gas to Liquid (GTL) Landscapes Analysis
- Latin America, Middle East & Africa Gas to Liquid (GTL) Landscapes Analysis
- Major Players Profile
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