Global gas-to-liquids processes for chemicals and energy market growing at a CAGR of 6.7% to reach $15.5 billion by 2022

The global gas-to-liquids processes for chemicals and energy market is expected to reach $9.2 billion growing at a CAGR of 6.7% to reach $15.5 billion by 2022. Gas to liquids (GTL) is a refinery process that converts natural gas into liquid fuels such as gasoline. Methane-rich gases are renewed into liquid synthetic fuels either via direct conversion via syngas as an intermediary. Rapid energy consumption and price of oil and gases are the foremost drivers for gas to liquid market, whereas the fixed reactors and large sized equipment are inhibiting the growth. The increasing consumption of natural gas, especially in emerging countries such as India, Japan and China act as the opportunity for gas to liquids market.

The most common technique used at GTL facilities is Fischer-Tropsch (F-T) synthesis. F-T synthesis has gained recent attention because of the rising extend between the cost of natural gas and the cost of petroleum products. Lubricating products and production of waxes are another primary product of the F-T process and developers have reworked on their designs, to increase the enduring profitability of GTL plants. The increasing demand for waxes that are produced by F-T process is experiencing stable growth over the past decade. F-T waxes are used in industries producing paints & coatings, candles, plastic, resins, tires, synthetic rubber and other products.

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Global gas-to-liquids processes for chemicals and energy market is mainly segregated by production, by size, by products and by geography. Based on production, the market is segmented into Methanol to Gasoline (MTG) process, gasoline plus process, fischer-tropsch process. Based on Size, the market is categorized into small scale and large scale. Based on products, the market is segmented into diesel, ethane, LPG, base oil and paraffin. Market by geography, is segmented into North America, Europe, Asia Pacific, and Rest of the World. Due to the rise in natural gas consumption, Asia Pacific is expected to be the leading market for Gas to liquids (GTL).

The key players in the market include PetroSA Company, Royal Dutch Shell, Primus Green Energy, EmberClear, Sasol limited, BP plc, Compact GTL, Chevron Corporation, and Linc Energy.

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