Coal to Liquid Fuel (CTL) Market Overview
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.
ChemView Consulting has analyzed that 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.
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.
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Segments Covered in Report
By Liquification Process:
- Direct Coal Liquefaction
- Indirect Coal Liquefaction
By Product:
- Diesel
- Gasoline
- Other Fuels
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Coal to Liquid Fuel (CTL) Market
- Based on the liquification process, 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.
- Based on the product, 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.
- APAC dominated the worldwide CTL market with the largest fuel output and over 43.5% of the industry’s overall revenue in 2021. It is projected to develop even more as many industry players concentrate on building CTL facilities in Asian nations because of the greatest growth potential in economics and the legal environment. Additionally, there are approximately twelve CTL plants in the area.
Competition Summary
Key companies covered in the market study are Altona Energy, Bakrie Global Ventura, Celanese Corporation, China Shenhua, DKRW Energy Partners LLC., Envidity Energy Inc., Inner Mongolia Yitai Coal CO., LTD, Linc Energy Systems, Monash University, and Sasol Limited.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
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