16 September 2019 - The Global Gas to
Liquid (GTL) Market is subject to
witness a substantial growth due to the growing concerns regarding fossil fuel
depletion and rising demand for alternative energy sources. Introduction of
phenomenon such as the Fischer-Tropsch (FT) route in order to identify natural
gas reserves is expected to drive the growth of the market over the forecast
years.
Monetization
of these of natural gas reserves, which are stranded and unavailable for use,
is anticipated to fuel market demand for technologies such as Fischer-Tropsch
(FT) route in the near future. Globally, market is predicted to grow at a
significant CAGR in the forecast period, providing numerous opportunities for
market players to invest for research and development in the gas to liquids
(GTL) market.
Declining
number of natural gas reserves and ever-growing power demand from growing
amount of end-user industries around the world are some of key factors
responsible for driving demand for alternative energy generation. Additionally,
transforming of methane-rich gases into economic, clean synthetic fuels is
expected to stimulate the growth of the market over the forecast period.
Substantial
growth in manufacturing sector and rapid industrialization in both developing
as well as developed countries such as China, India, UAE, U.S., Germany, and
the UK is leading to depletion of conventional natural resource. Increasing
adoption of gas to liquids (GTL) to meet carbon emission targets by developing
as well as developed economies across the globe with the help of massive
improvements in fuel efficiency of existing operations are likely to fuel
market demand in the near future.
The
market is broadly categorized into three major segments based on the type of
processing technology such as Methanol to Gasoline (MTG), Fischer-Tropsch (FT),
and Syngas to gasoline plus process. The Fischer-Tropsch (FT) is considered as
one of the fastest growing segment in the gas to liquids (GTL) market with
substantial revenue generation in the last few years.
Growing
popularity of the Fischer-Tropsch (FT) segment is attributed to the high-end
demand to perform operations such as partial oxidation of hydrogen and natural
gas, and cracking process. The Methanol to Gasoline (MTG) segment has also
witnessed substantial growth owing to the increasing adoption in various end
user industries such as refineries, petrochemicals, industrial, transportation,
energy, and power among others.
The
market is divided by region as North America, Europe, Asia-Pacific, Latin
America and Africa. North America has shown major growth in recent years owing
to the rise in the implementation of latest technologies in oil& gas
sector, recent research & development activities in the region, and
existence of well-established manufacturing infrastructure.
Asia-Pacific
region is predicted to hold major market share in the gas to liquids (GTL)
market with massive growth in forecast period. Countries such as India, China,
Japan, Malaysia, South Korea and Singapore are leading the Asia-Pacific market
with strong economic growth in the region and significant investment by leading
industry players considering potential growth opportunities in the region. The
key players in the gas to liquids (GTL) market are Linc Energy, Inc., Compact
GTL Co., Primus Green Energy, Inc., Chevron Co., Royal Dutch Shell, Inc., Sasol
Ltd., Velocys Co., Gas Techno, Inc., NRG Energy Ltd., Ventech Engineers LLC,
and Petróleo Brasileiro S.A.
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