Gas to Liquid Market Size To Expand at a Notable CAGR Of 7.55% During 2022-2030 :

Pune, India, February,2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Gas to Liquid Market.

Gas to Liquid (GTL) Market – Overview

The escalating energy demands globally have motivated the demand for gas to liquid sources to a great extent. Market reports linked to the energy and power industry have been offered by Market Research Future which makes reports on other industry verticals that aims to study the current market scenarios better. The market is anticipated to develop with a CAGR of 7.55% while earning revenues worth USD 20,387.33 million by the conclusion of the forecast period.

The upsurge in fossil fuel depletion has led to the development of the gas to liquid market globally. The market is anticipated to develop positively due to the escalated use of fuel oil in boilers and other equipment for producing heat and energy. The stringent carbon emission targets instated globally are expected to add to the development of the gas to liquid market in the forecast period. The market’s growth is expected to be further motivated by the rise in industrial growth during the forecast period.

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Segmental Analysis

The segmentation of the gas to liquid market is conducted on the basis of product, application, and region. On the basis of product, the gas to liquid (GTL) market has been segmented into GTL naphtha and GTL diesel. On the basis of application, the gas to liquid market has been segmented into process oil, lubricating oil, fuel oil, and others. The regions included in the gas to liquid market are South Africa, the U.S., Qatar, Nigeria, and Malaysia.

Detailed Regional Analysis     

The regional analysis of the gas to liquid market comprises of regions such as South Africa, the U.S., Qatar, Nigeria, and Malaysia. Qatar is responsible for the principal market portion of 64.06% in 2016, and a market worth of USD 235.7 million. Presently, two GTL plants are operating in Qatar. The South African nation was the next largest market for the gas-to-liquid market. It was responsible for a considerable portion of 16.57% in the global market, in 2016.

Competitive Analysis

The market competitors find themselves in a promising position with the capacity to handle the pace of change. The contestants are dynamically addressing the challenges to growth and are creating strategies that can have the best overall effect on the market's development. The competitive outlook for the market is projected to diversify extensively in the coming period. The developments in the market are likely to be fuelled by the rise in investments and product inventions. The market influencers are taking an interest in the making of strong value chains that can yield increased profits. The prospects for growth in the market have ample room for growth in the forecast period. The perceived propensity for the market’s growth has improved following the accessibility to positive aspects in the market.

The prominent competitors in the gas to liquid (GTL) market globally are Chevron Corporation (U.S.), Sasol Limited (South Africa), PetroSA (South Africa), Royal Dutch Shell Plc. (The Netherlands), OLTIN YO’L GTL (Uzbekistan), Velocys Plc. (U.K.), ORYX GTL (Qatar) and others.

Industry Updates:

Feb 2019 Total, a leading oil company has announced that its recent South African offshore discovery could comprise of one billion barrels of total resources, which will significantly boost this country's oil and gas supplies. The company has declared that it has made a huge gas condensate discovery. This is seen as a key economic boost, which will help local fuel supplies. PetroSA says that the closeness of the discovery to Mossel Bay's gas-to-liquid plant is also a key development.

Sep 2018 Extiel-Advantage Somerset which is a unique (GTL) gas-to-liquid plant that converts inexpensive natural gas into high-value, full-synthetic waxes, solvents, and base oil is expanding. The future plant will be a reduced version of a large-scale GTL plant design and will manufacture 250 barrels per day of ultra-clean waxes, synthetic fuel products, and industrial hydrogen. The Extiel-Advantage Somerset, the GTL (gas to liquid) plant will relocate in Somerset with some additional properties that the plant will need in the future.