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The fossil fuel will continue to dominate across all sources of energy. Environmentalists and leaders around the world emphasizing the deteriorating quality of the environment due to massive carbon emission. Natural gas plays an important role in bridging the gap between fossil fuels of today and renewable fuels of tomorrow.
For a given amount of heat energy, burning natural gas produces about half as much carbon dioxide as burning coal. The ability of natural gas to burn cleaner than oil and coal could emerge as a critical transition fuel that could help to battle global warming. Currently, gas to liquid (GTL) is emerging as one of the most innovative technology to natural gas into gasoline. Implementation of stringent environment rules by several governments in the interest of environmental protection and endorsing cleaner fuel to mitigate alarming global warming is expected to fuel the GTL market.
The segmentation of gas to liquid is based on technology and application. Natural gas can be converted into useful fuel oil by using Fischer-Tropsch synthesis and methanol synthesis technology. Fischer-Tropsch synthesis technology is expected to dominate the technology segment in which synthesis gas is reacted in the presence of iron or cobalt catalysts. The gasoline product is projected to dominate the application segment due to the massive production of gasoline oil using Fischer-Tropsch synthesis technology.
Ample amount of proven reserves of natural gas which burns cleaner than fossil fuel and emits much lower carbon that would drive the gas to liquid (GTL) market. The alarming level of global warming compounding global leaders to take immediate action against worsening ecology.
Key Market Driver -
Key Market Driver – Abundant natural gas reserves and revising energy policies to lower carbon emission
Key Market Restraint -
Key Market Restraint – Technical complexity and high capital cost
This would promote the production of clean energy that boosts the gas to liquid (GTL) market. The GTL plant faces several challenges during and after commissioning due to lack of advanced technology and expensive GTL facility, which expected to retard the growth of the gas to liquid (GTL) market.
Some of the notable companies in the gas to liquid are Shell, Sasol, Chevron, Compact GTL, Primus Green Energy, Velocys, NRG Energy, Petrobras, Linde, Infra GTL Technology, and OLTIN YO'L GTL.
The gas to liquid market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America experiencing robust growth in the petrochemical sector to meet the strong demand from consumers. The U.S. is one of the largest producers of natural gas and also involved in gas to liquid manufacturing which projected to fuel the gas to liquid market in North America. The European countries are shifting towards more environment-friendly energy sources to achieve its Europe 2020 target. Russia has the largest proven natural gas reserves and one of the major suppliers of hydrocarbons to the EU.
Growing oil demand and expansion of industries is expected to boost the gas to liquid market in Europe. Over the years Asia Pacific has seen tremendous industrial growth due to the massive consumer market. Also, the change in ecological values is compounded by rising concerns about pollution among the growing middle. Uzbekistan is rich in natural gas reserves and possesses one of the largest gas to liquid plant in the world.
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The government is planning to expand and construct new projects in the region to process the high volume of natural gas to liquid. These factors would exhibit strong growth for the gas to liquid market. South African company Sasol is concentrating on building gas to liquid plants and expanding existing projects to increase the production from gas to liquid technology. The geopolitical scenario in African countries showing interest in uplifting domestic clean energy sources which expected to drive the gas to liquid market.
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