12th June 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.
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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.
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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.