Gas to liquid (GTL) Market Size, SWOT Analysis, Growth Statistics 2021 Industry Demand, Share Evaluation, Prominent Players Strategies, Forthcoming s, Upcoming Investments and Forecast 2027 – UK Parents Lounge - UK Parents Lounge

The latest report by Report Ocean include the detailed study of various market determinants such as key product launches, regional study, market demand, government initiatives, etc. Moreover, it describes the impact of COVID-19 pandemic on the market with the help of graphs and data.
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%.
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Global Gas to liquid (GTL) Market Information Report by Product (GTL Diesel, and GTL Naphtha), by Application (Fuel Oil, Lubricating Oil, Process Oil, and Others) and by Region – Global Forecast To 2022
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.
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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. 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%.
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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.
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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. (UK), ORYX GTL (Qatar), OLTIN YO’L GTL (Uzbekistan ), Royal Dutch Shell plc. (The Netherlands), Chevron Corporation (U.S.), among others.
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Factors Influencing
The global market is forecast to witness a rapid growth, owing to increasing demand for technological advancements from end-users. Moreover, increasing investments in research and development activities, launches, partnerships, and other strategic initiatives will benefit the market. Furthermore, the growing focus of authorities towards increasing urbanization and industrialization is forecast to drive the market growth.
COVID-19 Impact Analysis
The COVID-19 pandemic has affected almost every industry. The market witnessed a significant decline in investments, mainly in the energy and power sector. According to the estimations by the International Energy Agency, investments in the energy and power domain are projected to decrease by 10% in 2020 as compared to the pre-pandemic statistics. This indicate the condition of global marketplace along with severe challenges faced during pandemic.
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Regional Analysis
Asia-Pacific market is forecast to emerge as rapidly growing region in global market, owing to governments’ initiatives towards increasing urbanization and growing population leading to increasing demand of energy-based products and services. Also, North America is forecast to grow rapidly because of high energy consumption in the region and technological advancements across the sector. Energy consumption has been increasing in the region, mainly in the US; the primary energy consumption is segmented on the basis of nuclear electric power, petroleum, coal, renewable energy, and natural gas. The petroleum and natural gas segment is dominating the overall sector. In the mix of energy sources, petroleum accounts for around 35% of the overall consumption, whereas natural gas accounts for 34%.
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