14 March 2019: The Global Gas To Liquid (GTL) Market is subject to witness a substantial growth due
to the growing concerns regarding fossil fuel depletion and rising demand for
alternative energy sources. Introduction of phenomenon such as the
Fischer-Tropsch (FT) route in order to identify natural gas reserves is
expected to drive the growth of the market over the forecast years.
Monetization
of these of natural gas reserves, which are stranded and unavailable for use,
is anticipated to fuel market demand for technologies such as Fischer-Tropsch
(FT) route in the near future. Globally, market is predicted to grow at a
significant CAGR in the forecast period, providing numerous opportunities for
market players to invest for research and development in the gas to liquids
(GTL) market.
Declining
number of natural gas reserves and ever-growing power demand from growing
amount of end-user industries around the world are some of key factors
responsible for driving demand for alternative energy generation. Additionally,
transforming of methane-rich gases into economic, clean synthetic fuels is
expected to stimulate the growth of the market over the forecast period.
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Substantial
growth in manufacturing sector and rapid industrialization in both developing
as well as developed countries such as China, India, UAE, U.S., Germany, and
the UK is leading to depletion of conventional natural resource. Increasing
adoption of gas to liquids (GTL) to meet carbon emission targets by developing
as well as developed economies across the globe with the help of massive
improvements in fuel efficiency of existing operations are likely to fuel
market demand in the near future. Growing popularity of the Fischer-Tropsch
(FT) segment is attributed to the high-end demand to perform operations such as
partial oxidation of hydrogen and natural gas, and cracking process.
The
market is divided by region as North America, Europe, Asia-Pacific, Latin
America and Africa. North America has shown major growth in recent years owing
to the rise in the implementation of latest technologies in oil& gas sector,
recent research & development activities in the region, and existence of
well-established manufacturing infrastructure. The key players in the gas to
liquids (GTL) market are Linc Energy, Inc., Compact GTL Co., Primus Green
Energy, Inc., Chevron Co., Royal Dutch Shell, Inc., Sasol Ltd., Velocys Co.,
Gas Techno, Inc., NRG Energy Ltd., Ventech Engineers LLC, and Petróleo
Brasileiro S.A.
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