According to Stratistics MRC, the Global Gas-to-Liquids Processes for Chemicals and Energy market is accounted for $10.98 billion in 2017 and is expected to reach $22.89 billion by 2026 growing at a CAGR of 8.5%.
Factors such as rapid energy consumption coupled with ecological regulations related to the clean fuel and increasing prices of oil and gases are fuelling the growth of the market. However, fixed reactors and large sized equipment are inhibiting the market growth.
Gas to liquids (GTL) is a refinery process that converts natural gas into liquid fuels such as gasoline. Methane-rich gases are renewed into liquid synthetic fuels either via direct conversion or via syngas as an intermediary.
By Production process, Fischer-Tropsch process acquired significant growth due to the rising extends between the cost of natural gas and the cost of petroleum products. The increasing demand for waxes that are produced by F-T process is experiencing stable growth over the past decade. F-T waxes are used in industries producing paints & coatings, candles, plastic, resins, tires, synthetic rubber and other products. Lubricating products and production of waxes is another primary product of F-T process.
Asia Pacific dominated the global gas-to-liquids processes for chemicals and energy market owing to increasing consumption of natural gas, especially in emerging countries such as India, Japan and China.
Some of the key players in the global Gas-to-Liquids Processes for Chemicals and Energy Market include PetroSA Company, Royal Dutch Shell, Primus Green Energy, Sasol limited, BP plc, Compact GTL , NRG Energy, Gas Techno, Velocys, Chevron Corporation, Petrobras, Shell Global, OLTIN YO’L GTL, PetroSA , The Linde Group and Oryx GTL.
Production Process Covered:
Methanol to Gasoline (MTG) process
Gasoline plus process
o Rest of Europe
o New Zealand
o South Korea
o Rest of Asia Pacific
o Rest of South America
Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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