Gas to Liquid Market to Grow by high CAGR (%) in Forecast Period: Development Trends and Investment Feasibility

Emerging concerns about fossil fuel depletion along with increasing demand for the alternative sources of energy is projected to fuel the growth for gas to liquid market. Rising demand for FT (Fischer-Tropsch) route so as to monetize the reserves for natural gas which are unavailable and stranded for utilization is expected to catapult the demand for the industry. Rising demand for power and depleting natural reserves from end-use industries from around the world is anticipated to propel the need for alternative energy sources. This, in turn, may significantly drive the market for gas to liquid industry. Rapid demand for conversion of methane-rich to clean synthetic fuels and economic gasses is estimated to spur the growth of GTL technology. The rise of industrial sector primarily in developed and developing countries including India, China, Germany, the United States, the U.K and China have essentially driven the concerns for conventional resource depletion and scarcity. These countries are increasing adopting gas to liquid technology in order to comply with the carbon emission target and regulations by overhauling the fuel efficiency in the operations.

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Upcoming of stringent environmental regulations by the government of various countries in order to promote clean sources of fuel along with controlling pollutions is expected to positively impact the market over the next seven years. Guidelines such as Natural Gas Regulatory Board Act and Petroleum Regulatory Board Act, 2006, Oil Industry (Development) Act 1974 and Oilfields (Regulation and Development) Act of 1948 are likely to impel the GTL application in wide range of industries for the conservation of natural gas. Various companies are focusing on developing synthetic green fuels by using GTL services. According to World Bank estimates more than 150 billion meter cube of the flare gas is annually extracted which can extensively transform to convenient synthetic fuel. Attributing to these factors the demand for natural gas in countries including Iran, Saudi Arabia, Venezuela, Qatar, Russia and Iraq is anticipated to boost.

An increasing number of transportation requirement in a vast number of nations is further expected to foster the market for gas to liquid industry. This segment consumes more than fifth of the global energy supply and is projected to increase owing to emerging affordable motor vehicle sales. Abundances of natural gas reserves that can be manufactured at a potentially lower cost provide vital opportunities for the market players. One of the major challenges for the industry is the rising number of slurry based and fixed reactors along with the high initial investments required in the industry may essentially hamper the growth of the market.

The market is largely segmented based on product size namely large scale and small scale plants. Also, segmentation doesn't based on processing technology such as Methanol to Gasoline (MTG), Syngas to gasoline plus and Fischer-Tropsch (FT) process. FT process accounted for the largest segment attributing to the increasing need for partial oxidation of natural gas and hydrogen followed by the cracking process. MTG process is expected to experience substantial gain over the forecast period. The GTL technology can be effectively used for a diverse range of industries such as transportation, petrochemicals, energy, petrochemicals, power and industrial among others.

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Based on the region, the segmentation includes Asia Pacific (APAC), Middle East & Africa (MEA), Europe, South & Central America and North America. Many plants are essentially located in Qatar, Mozambique, South Africa and Nigeria resulting in high consumption rate in MEA region. Development of small sized microchannel reactors in the Asia-Pacific region is estimated to propel the industry growth. An emerging number of plants due to high-energy consumption in Japan, India, Malaysia, Singapore and China is expected to fuel the market in the APAC region. Notable players in the market include Compact GTL, Royal Dutch Shell, NRG Energy, Petrobras, Chevron Corporation, Linc Energy, Velocys, Sasol Limited and Gas Techno among others.