The market is expected to generate an incremental $ opportunity of US$ 2,046.8 Mn between 2022 and 2032
Category: Clean Energy & Power Published Date : October 2022 ID: CVC-00206 Format: PDF Pages: 270
Coal to Liquid Fuel (CTL) Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Coal to Liquid Fuel (CTL) Market grew at a CAGR of 3.7% between 2017-2021 and is estimated to be US$ 4,672.1 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 4.1% and is expected to reach a valuation of US$ 6,718.9 Mn by 2032 end.
The two fuels that are utilized the most across the world are coal and liquid petroleum. Coal is the primary fuel utilized to generate energy globally, although petroleum fuels are widely used in vehicles of all shapes and sizes. Coal can be turned into liquid fuels due to their comparable internal structures (both comprise hydrocarbons).
As the levels of petroleum reservoirs have been declining, there has been an increase in awareness of this phenomenon in recent years. Due to its use in transportation, petroleum is valued more than coal; hence the coal-to-liquid fuel process (CTL) is becoming more and more popular.
HIGH DEMAND FOR FUEL AND DEPLETING RESOURCES DRIVE THE GROWTH OF THE MARKET
The easy supply of coal, especially when compared to liquid fuels, is the main factor driving the global market for coal to liquid fuels. Although the recent news has focused on the declining levels of crude oil reservoirs, coal reserves have continued to be productive enough for coal to remain the most often utilized fuel source for power production. As a result, the concept of turning coal into liquid fuels has gained momentum recently.
Coal may be converted into synthetic fuels, which are frequently cleaner than fuels drawn from natural sources. It has caused regulatory agencies worldwide to favor coal liquefaction more and more.
With the hope of further efforts to transform coal into low-sulfur, ash-free transportation fuels and eventually gaseous fuels for household use, some CTL projects will be marketed shortly. The worldwide CTL market’s primary drivers are technological developments and the steadily rising need for liquid fuels for transportation.
Market Segments Covered in Report
By Liquification Process:
By Region and Country:
Which product type of Coal to Liquid Fuel (CTL) is projected to have a larger market share?
In 2021, the diesel product category had a 58.0% market share. Although gasoline production is anticipated to increase significantly shortly, diesel will continue to dominate the market because it is the fuel liquefaction that is most often used to create.
There are several possible benefits to diesel made using CTL methods. Crude oil is used to make diesel, including aromatics that form particles when burned. However, diesel made from coal liquefaction does not include aromatics. Thus it burns significantly cleaner and gets around one of the main problems with diesel combustion.
Why is the Direct Coal Liquefaction technology the most utilized for converting coal to liquid fuel?
Several CTL facilities worldwide employ the Direct Coal Liquefaction (DCL) technology. It is suited and advantageous for various feeds, such as high-velocity bituminous coals, low-cost sub-bituminous coals, and low-cost lignites.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Many businesses emphasize organic growth initiatives, including new launches, product approvals, patents, and events. Acquisitions, partnerships & collaborations were examples of inorganic growth tactics observed in the market. These actions have enabled market participants to increase their clientele and revenue.
With the increasing demand for coal to liquid fuel on the worldwide market, market participants in the coal to liquid fuel (CTL) market may expect to benefit from attractive growth prospects in the future. The list of a few businesses active in the market for alternative marine power is provided below.
A list of some of the key suppliers present in the market are:
Global Coal to Liquid Fuel (CTL) Market 2022-2032: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Liquification Process, Product, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|