In a recent published report, Kenneth Research has updated the market report for Gas to liquid (GTL) Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Gas to liquid (GTL) Market products.
Gas to liquid (GTL) MarketThe Gas to liquid (GTL) Market report provides an in-depth analysis of the Gas to liquid (GTL) Market during the forecast period 2017-2022 which consists of the industry overview including the market size, volume, growth rate and recent trends and developments in the market based on historical and current data. The report covers detailed information about the key players, market segments, growth drivers and restraints in the industry. The report delivers an insight into the Gas to liquid (GTL) Market which allows our clients to make informed decisions regarding the growth of their businesses.
The Gas to liquid (GTL) Market is anticipated to grow at a notable CAGR over the forecast period on the back of the growing demand for renewable energy from several end user industries, which according to the statistics by the International Renewable Energy Agency (IRENA), reached 2,532,866MW in the year 2019 from 1,223,533MW from the year 2010. Renewable energy is used nowadays in almost each and every industry on the back of the growing concern for the environment and the stringent norms by the government for environmental pollution.
Market analysis
Gas to liquid fuel is of superior quality than the traditional refinery diesel which is produced from crude oil. The GTL or the Gas-to-Liquid is mainly produced by the process of Fischer-Tropsch technique, but it consists of higher amount of cetane and zero sulfur content. It can offer elimination or reduction in the quantity of NOx and particulate emissions. The growing demand for the Fischer-Tropsch (FT) route for the monetization of the natural gas reserves which are unavailable and stranded for usage is likely to augment the demand for this type of technology.
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Rising demand for power from rapidly increasing end-use industries and scarce natural gas reserves all across the globe are anticipated to force the alternative energy service providers. Alteration of methane-rich gases into clean and economic synthetic fuels would boost the GTL technology growth and also its market. Hence, global gas to liquid market is projected to reach a market size of value USD 16,374.5 million by the end of the estimated period (2017-2023) by growing at a CAGR of 7.42%.
Market segmentation
The global gas to liquid market is segmented on the basis of its application, product and geographical analysis. Based on application, the market has been classified as Process Oil, Lubricating Oil, and Others. On the basis of its product, the market is bifurcated into GTL naphtha and GTL diesel.
Regional analysis
Geographically, the global gas to liquid market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
Major players
The key players operating in the global gas to liquid (GTL) market include major companies like Sasol Limited (South Africa), PetroSA (South Africa), Velocys Plc. (U.K.), ORYX GTL (Qatar), OLTIN YO’L GTL (Uzbekistan ), Royal Dutch Shell plc. (The Netherlands), Chevron Corporation (U.S.), among others.
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