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Global Coal to Liquid Fuel (CTL) Market Size, Share, Trends and Growth Analysis Report – Segmentation By Product (Diesel, Gasoline and others), By Technology (DCL and ICL), and By Region - Industry Forecast of 2022 to 2027

Published: January, 2022
ID: 10741
Pages: 175

Coal to Liquid Fuel (CTL) Market Size (2022 - 2027):

The Global Coal to Liquid Fuel (CTL) Market was valued at US$ 3.95 billion in 2021 to reach US$ 11.45 billion by 2027, at a CAGR of 8.3% during the forecast period 2022-2027.

The increasing dependence on natural gas and crude oil for the production of transportation fuels along with stagnant or slowly declining reserves according to the current industry scenario is the main factor responsible for the implementation of CTL technology. Rising crude oil or natural gas processing costs are also supposed to stimulate the call for the CTL process. So many CTL projects will be commercialized in the coming years predicting the incentive for protracted efforts to convert coal to low-sulfur, ashless transportation fuels and, eventually, to gaseous fuels for domestic employment. Technological advances, along with sustained expansion in the call for liquid transportation fuels, are key drivers in the global CTL market. In today's industry scenario, there are twenty active CTL facilities around the world. With the rise in gas prices, the replacement of dry coal with natural gas, which will be employed in natural gas power generation facilities, appears to be very economical.

Market Drivers:

The main driver of the worldwide market for liquid fuel coal is the abundant availability of coal, especially compared to liquid fuels. While declining levels of crude oil reserves made the news recently, coal reserves have remained productive enough that coal remains the most widely employed fuel type for power generation. For this reason, the idea of ​​converting coal into liquid fuels has gained momentum in recent years. Synthetic fuels from coal conversion are generally cleaner than those extracted from natural reservoirs. This has allowed coal liquefaction to gain greater support from regulatory authorities around the world. Technological advancements in the oil and gas industry have also helped this idea take hold, as the technological know-how of the conversion process is relatively readily available. The abundant availability of coal, the deterioration of the levels of oil deposits, a greater awareness of the industrialists about the technical experience related to the conversion process, and the expansion of the transport sector in developing countries such as India and China, are pushing the global coal to liquid fuel market forward. Since synthetic fuels from coal conversion are cleaner (environmentally friendly) than those extracted from natural reservoirs, the call for coal liquefaction has increased thanks to broad support from regulatory authorities around the world.

Market Restraints:

However, the high costs of the process have not decreased significantly since it began to be employed. This makes the process economically viable only when oil prices are high. The process of converting coal to liquid fuel is costly and economically viable as crude oil prices rise, preventing major players from manufacturing on an industrial scale, which is predicted to slow market expansion.

Market Opportunities:

Next-generation fuel cell and combined cycle power generation operations will also require the conversion of coal into clean gaseous or liquid fuels. Syngas-derived liquid products are predicted to gain a larger market share in the coming years. The rapid availability of advanced, process-specific catalysts has enabled the production of hydrocarbons and higher oxygenates, including methanol. Syngas-derived fuels are predicted to gain importance in the near future. These products are useful for basic chemicals and also find applications as transportation fuels. In addition, the growing worldwide call for energy, high commodity prices, and strong economic expansion in developing countries present opportunities for market expansion.

Market Challenges:

Currently, with oil prices at record lows, even multinational giants may find it difficult to finance industrial-scale production of liquid fuels from coal. This has emerged as a major constraint on the world market for liquid fuel coal.

COAL TO LIQUID FUEL (CTL) MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 – 2027

Base Year

2021

Forecast Period

2022 - 2027

CAGR

8.3%

Segments Covered

By Product, Technology, and Region.

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Shenhua, Sasol, Linc Energy, DKRW Energy, Bumi plc, and Monash Energy and Others.

 

Market Segmentation:

Coal to Liquid Fuel (CTL) Market - By Product:

  • Diesel
  • Gasoline
  • Others

Coal to Liquid Fuel (CTL) Market - By Technology:

  • DCL
  • ICL

Direct Carbon Liquefaction (DCL) is widely employed in various applications in many CTL plants. Products manufactured using this process can be refined to meet the most current specifications for transportation fuels.

Market Regional Analysis:

  • North America 
  • Europe 
  • Asia Pacific
  • Latin America 
  • Middle East & Africa 

Regionally, China, the United States, India, South Africa, Australia, and Russia are the main markets for coal-to-liquid fuel technology. The abundant availability of coal reserves in these countries is responsible for the rapid expansion of the sector. China and India are predicted to be the dominant regional markets from coal to liquid fuels in the coming years due to the expansion of the transportation sector in these countries. Liquid fuels derived from coal can also be employed as cooking fuel. For example, dimethyl ether is non-toxic and generates less carbon monoxide than the conventionally popular LPG. Rampant urbanization in China and India will also help the liquid fuel coal market in this regard.

Impact of Covid-19 on Coal to Liquid Fuel (CTL) Market:

The coronavirus pandemic hit the world hard in early 2020, with negative GDP expansion and rising unemployment. In the energy sector, coal-fired power generation was already under pressure from excess capacity, weak expansion in electricity calls, and increasingly competitive renewables. COVID-19 has exposed coal's vulnerabilities to economic uncertainty, raising questions about the prospects for the thermal power generation and coal mining sectors in the next decade and beyond. Increased uncertainty could lead to serious social and economic problems in the coal-dependent Indian states. They have made limited progress in economic diversification and millions of people depend directly or indirectly on coal mining for their livelihoods. A less dynamic coal sector would further aggravate unemployment and underemployment problems. To alleviate these uncertainties, a just transition away from dependence on coal in the Indian coal belt is prudent and necessary. Policy interventions must look to the future and focus on building the resilience of communities in the face of economic shocks by expanding access to alternative and sustainable livelihoods.

Market Key Players:

Major players currently operating in the global coal to liquid fuel market include

  1. Shenhua
  2. Sasol
  3. Linc Energy
  4. DKRW Energy
  5. Bumi plc
  6. Monash Energy

Recent Developments:

  • Researchers from the National Institute for Clean and Low Carbon Energy in Beijing and Eindhoven University of Technology have developed iron-based catalysts that dramatically reduce operating costs and open the door to capture the large amounts of CO2 generated by CTL.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                          

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling      

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                         

                                4.1.1 Drivers      

                                4.1.2 Restaints  

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis        

                                5.1.2 Products/Service  

                                5.1.3 Regional Presence               

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Coal to Liquid Fuel (CTL) Market, By Product                

                                6.1.1 Diesel        

                                6.1.2 Gasoline   

                                6.1.3 Market Size Estimations & Forecasts (2022 - 2027)   

                                6.1.4 Y-o-Y Growth Rate Analysis             

                                6.1.5 Market Attractiveness Index          

                6.2 Coal to Liquid Fuel (CTL) Market, By Technology                        

                                6.2.1 DCL             

                                6.2.2 ICL              

                                6.2.3 Market Size Estimations & Forecasts (2022 - 2027)   

                                6.2.4 Y-o-Y Growth Rate Analysis             

                                6.2.5 Market Attractiveness Index          

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                  

                7.2 North America - Market Analysis (2022 - 2027)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Product              

                                7.2.3 By Technology       

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Product              

                                7.3.3 By Technology       

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Product              

                                7.4.3 By Technology       

                7.5 Latin America                             

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Product              

                                7.5.3 By Technology       

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Product              

                                7.6.3 By Technology       

8. Key Player Analysis                                    

                8.1 Shenhua                      

                                8.1.1 Business Description           

                                8.1.2 Products/Service  

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis       

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Sasol                              

                8.3 Linc Energy                 

                8.4 DKRW Energy                            

                8.5 Bumi plc                       

                8.6 Monash Energy                        

9. Market Outlook & Investment Opportunities                                

Appendix                                           

                List of Tables                     

                List of Figures                   

  1. Global Coal to Liquid Fuel (CTL) Market By Region, From 2022 - 2027 ( USD Billion )
  2. Global Coal to Liquid Fuel (CTL) Market By Product, From 2022 - 2027 ( USD Billion )
  3. Global Diesel Market By Region, From 2022 - 2027 ( USD Billion )
  4. Global Gasoline Market By Region, From 2022 - 2027 ( USD Billion )
  5. Global Coal to Liquid Fuel (CTL) Market By Technology, From 2022 - 2027 ( USD Billion )
  6. Global DCL Market By Region, From 2022 - 2027 ( USD Billion )
  7. Global ICL Market By Region, From 2022 - 2027 ( USD Billion )

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The Global Coal to Liquid Fuel (CTL) Market was valued at US$ 3.95 billion in 2021 to reach US$ 11.45 Billion by 2027, at a CAGR of 8.3% between 2022-2027.

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