Pune, India, Feb. 04, 2021 (GLOBE NEWSWIRE) -- The global gas to liquid (GTL) market is set to gain momentum from the increasing occurrence of joint research & development for broadening the reach of GTL products in a wide range of verticals. This information is published by Fortune Business Insights™ in a new study, titled, “Gas to Liquid Market Size, Share & COVID-19 Impact Analysis, By Technology (Fisher-Tropsch Synthesis and Methanol Synthesis), By Application (Gasoline, Lubricants, and Others), and Regional Forecast, 2020-2027.” The study further mentions that the gas to liquid market size was USD 5.66 billion in 2019. The market is projected to grow from USD 4.14 billion in 2020 to USD 5.33 billion in 2027 at a CAGR of 3.7% during the forecast period.
COVID-19 Pandemic to Limit Growth Stoked by Declining Demand for Gasoline & Diesel Fuel
The COVID-19 pandemic has taken a toll on several industries because of stringent lockdown and social distancing norms. Several gas to liquid technology providers are facing supply-demand gaps owing to limited production and drilling. Also, the demand for gas to liquid products, such as kerosene, gasoline, and diesel fuel is set to decline backed by lockdown policies. We are providing accurate research reports to help you understand the current scenario.
To get to know more about the short-term and long-term impact of COVID-19 on this market,
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How Did We Conduct Our Research?
The report involved four notable activities in projecting the current market size. Exhaustive secondary research was conducted to gather data about the parent and peer markets. Our next step included primary research to authenticate these sizing, assumptions, and findings with numerous industry experts. We have also used bottom-up and top-down approaches to calculate the market size.
Drivers & Restraints-
Need to Reduce Global Warming Problems will Favor Growth
Gas to liquid products are equipped with better combustion properties. Unlike conventional crude oil products, these leave a lower amount of carbon products. Also, these products do not discharge harmful emissions, which, in turn, would aid various countries in achieving their low carbon energy targets. It can further combat issues associated with global warming. These factors are anticipated to boost the gas to liquid market growth in the upcoming years. However, the implementation of strict rules regarding the usage of clean energy generation sources may hinder the demand for GTL technology.
Segment-
The Lubricants Segment Held 12.6% Share in 2019
Based on application, the lubricants segment earned 12.6% in terms of the gas to liquid market share in 2019. This growth is attributable to their rising operational advantages, namely, longer lifespan of the equipment, economic viability, safety, and reliability.
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Regional Insights-
The Middle East & Africa to Dominate Stoked by Presence of Hydrocarbon Reserves
Geographically, the Middle East & Africa generated USD 3.17 billion in terms of revenue in 2019. The region is expected to dominate the market throughout the forthcoming years because of the increasing availability of numerous large scale gas to liquid plants, rising exploration of natural gas, and presence of multiple hydrocarbon reserves.
On the other hand, Asia Pacific is projected to grow steadily fueled by the rising government support to develop new infrastructures in the region. At the same time, expansion of the transportation sector would propel regional growth. In North America, the increasing exploration of large unconventional and conventional reserves would aid growth.
Competitive Landscape-
Key Players Focus on Introducing New Product Lines to Intensify Competition
The market houses a large number of companies that are mainly focusing on signing new agreements with other renowned firms. A few of them are developing novel technologies and product ranges to fulfil the unmet demand. Below are the two latest industry developments:
- December 2020: INFRA GTL Technology completed the testing of its Fischer-Tropsch reactor tubes for gas to liquid plants. This new range of products would enhance productivity and lower capital expenditure.
- April 2020: PETRONAS Research Sdn Bhd and INFRA Technology Group signed a R&D collaboration agreement to develop a state-of-the-art Fischer-Tropsch (FT) catalyst.
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A list of all the gas to liquid technology providers operating in the global market:
- Shell (Netherlands)
- Chevron (U.S.)
- Compact GTL (UK)
- Primus Green Energy (U.S.)
- Velocys (U.S.)
- Sasol (South Africa)
- NRG Energy (U.S.)
- Petrobras (Brazil)
- Linde (Germany)
- INFRA GTL Technology (U.S.)
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Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Gas to Liquid Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments by Industry Players in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Gas to Liquid Market Analysis (USD Billion), Insights and Forecast, 2016–2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Technology
- Fisher-Tropsch Synthesis
- Methanol Synthesis
- Market Analysis, Insights and Forecast – By Application
- Gasoline
- Lubricants
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
- North America Gas to Liquid Market Analysis (USD Billion), Insights and Forecast, 2016–2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Technology
- Fisher-Tropsch Synthesis
- Methanol Synthesis
- Market Analysis, Insights and Forecast – By Application
- Gasoline
- Lubricants
- Others
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- Europe Gas to Liquid Market Analysis (USD Billion), Insights and Forecast, 2016–2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Technology
- Fisher-Tropsch Synthesis
- Methanol Synthesis
- Market Analysis, Insights and Forecast – By Application
- Gasoline
- Lubricants
- Others
- Market Analysis, Insights and Forecast – By Country
- Kazakhstan
- Uzbekistan
- Turkmenistan
- Rest of Europe
- Asia Pacific Gas to Liquid Market Analysis (USD Billion), Insights and Forecast, 2016–2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Technology
- Fisher-Tropsch Synthesis
- Methanol Synthesis
- Market Analysis, Insights and Forecast – By Application
- Gasoline
- Lubricants
- Others
- Market Analysis, Insights and Forecast – By Country
- Malaysia
- Rest of Asia Pacific
- Latin America Gas to Liquid Market Analysis (USD Billion), Insights and Forecast, 2016–2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Technology
- Fisher-Tropsch Synthesis
- Methanol Synthesis
- Market Analysis, Insights and Forecast – By Application
- Gasoline
- Lubricants
- Others
- Market Analysis, Insights and Forecast – By Country
- Brazil
- Argentina
- Rest of Latin America
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