15-April-2019: The global coal to liquid market size is expected to reach USD 5.28 billion by 2026, according to a new report by Grand View Research, Inc. It is estimated to witness a CAGR of 3.9% over the forecast period. CTL, as a solution for supplementing production of transportation fuels from crude oil seems to be a more prospective option for the development of this industry based on better environmental capabilities, higher flexibility, and a stronger supporting experience and infrastructure.
However, considering the current industry status, if this is supplemented with the development of new FT-based CTL facilities, it is anticipated that additional synergy for hydrocarbon liquefaction should rise in the next eight years. CTL facilities in Mb/d range are expected to be limited to the leading coal-producing nations including U.S., India, China, Australia, South Africa, and Russia. Even if large quantities of Mb/d could be derived using CTL, this would only account for a small fraction of the global oil production and would barely offset the decline in the current oil production figures.
Indirect Coal Liquefaction (ICL) is the most used liquefaction technology. This process offers high value and clean burning fuels. Synthetic fuel produced from coal using this technology can be used in conventional engines without any modification and adds to an improved combustion with lower emissions. However, these fuels have lower fuel economy.
In depth research report on Coal to Liquid (CTL) Market
Further key findings from the study suggest:
· Increasing costs of crude oil or natural gas processing is projected to augment the demand for CTL process over the coming years
· Technological advancements coupled with sustained growth in demand for liquid fuels for transportation are also driving the global Coal to Liquid (CTL) market
· Diesel was the dominant product segment and was valued at USD 2.28 billion. It is anticipated to expand further at the maximum CAGR during the forecast years
· Adverse impacts on the environment from large-scale CTL plants is a major restraining factor for the industry
· Some of the dominant industry participants include China Shenhua Energy Co. Ltd.; Sasol Ltd.; TransGas Development Systems, LLC; Altona Energy PLC; and Envidity Energy, Inc.
Grand View Research has segmented the global Coal to Liquid (CTL) market on the basis of product, technology, and region:
CTL Product Outlook (Revenue, USD Million, 2014 - 2026)
· Diesel
· Gasoline
· Others
CTL Technology Outlook (Revenue, USD Million, 2014 - 2026)
· Direct Coal Liquefaction (DCL)
· Indirect Coal Liquefaction (ICL)
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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