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. 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%.
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.
Geographically, the global gas to liquid market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
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.