Gas to liquid Market Analysis and Prediction by Leading Manufacturers, Applications and Product Types with Region by 2022

Market Scenario

Based on product, Gas to liquid (GTL) market has been divided as GTL diesel, and GTL naphtha. GTL diesel accounted for the largest market share of 72.84% in 2016, with a market value of USD 198.0 million. Gas to liquid diesel is superior than conventional refinery diesel produced from crude oil, in quality. Gas-to-liquids (GTL) diesel fuels produced by the Fischer-Tropsch process, typically, have very high cetane number and zero sulfur content, and can provide reductions in particulate and NOx emissions. The low-emission premium grade fuel can either be used pure or in blends with traditional diesel. GTL Naphtha was the second-largest market in 2016, valued at USD 73.8 Million. GTL Naphtha is an alternative high-quality feedstock for chemical manufacturing that makes the building blocks for plastics. It offers superior yields of ethylene and propylene over conventional naphtha. As a synthetic product, GTL Naphtha has a consistent quality and contains no sulphur and heavy metals, which makes it cleaner. It is also more paraffinic than light high paraffinic naphtha while giving better lower olefins yields.

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Based on application, the market has been divided as Fuel Oil, Lubricating Oil, Process Oil, and Others. Fuel Oil accounted for the largest market share of 36.2% in 2016, with a market value of USD 98.4 Million. Fuel oil is the advanced heavy fuel oil used in boilers and other equipment for generating heat and energy in manufacturing operations and processes. It helps improve the reliability and the performance of the entire boiler system, from the storage tank right to the chimney. Lubricating Oil was the second-largest market, in 2016, valued at USD 81.2 Million. GTL lubricants, come with essentially zero sulfur and nitrogen, excellent oxidation stability and low viscosity, even at low temperatures. Process oil is another major application of the market and is projected to grow at a CAGR of 7.00% during the forecast period. GTL process oils are used in a wide variety of chemical and technical industries, either as raw material component or as an aid to processing. GTL Process Oils have a water-white colour as well as they offer a uniform chemical structure, a high flash point and low volatility, and an outstanding light and thermal stability.

On the basis of region, GTL market has been segmented as the U.S., Qatar, South Africa, Nigeria, and Malaysia. Qatar accounted for the largest market share of 64.06% in 2016, with a market value of USD 235.7 Million. Currently, two GTL plants operate in Qatar. One of the plants is in Ras Laffan Industrial City, operated by Oryx, a joint venture between Qatar Petroleum (51 percent) and Sasol of South Africa (49 percent). This plant has the capacity to produce 34,000 barrels per day of liquids (24,000 barrels of GTL diesel, 9,000 barrels of naphtha and 1,000 barrels of liquefied petroleum gas). The second plant is also in the same city, operated by Qatar Petroleum and Shell.

South-Africa was the second largest market for the gas-to-liquid. It accounted for a share of 16.57% in the global market, in 2016. In Mossel Bay town, South Africa, PetroSA, operates the GTL plant. It produces 45,000 barrels per day, which includes diesel, gasoline, kerosene and specialty products.

Hence, global GTL market is expected to reach a market size of USD 16,374.5 million by the end of the forecast period at CAGR of 7.42%.

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The key players of global gas to liquid (GTL) market are Royal Dutch Shell plc. (The Netherlands), Chevron Corporation (U.S.), Sasol Limited (South Africa), PetroSA (South Africa), Velocys Plc. (U.K.), ORYX GTL (Qatar), OLTIN YO’L GTL (Uzbekistan ) and others.

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