Coal to Liquid Fuel (CTL) Market Size Analysis

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.

Market Dynamic

HIGH DEMAND FOR FUEL AND DEPLETING RESOURCES DRIVE THE GROWTH OF THE MARKET

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.

Coal may be converted into synthetic fuels, which are frequently cleaner than fuels drawn from natural sources. It has caused regulatory agencies worldwide to favor coal liquefaction more and more.

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.

Market 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)

Segment-Wise Analysis

Which product type of Coal to Liquid Fuel (CTL) is projected to have a larger market share?

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.

There are several possible benefits to diesel made using CTL methods. Crude oil is used to make diesel, including aromatics that form particles when burned. However, diesel made from coal liquefaction does not include aromatics. Thus it burns significantly cleaner and gets around one of the main problems with diesel combustion.

Why is the Direct Coal Liquefaction technology the most utilized for converting coal to liquid fuel?

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.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• 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 Analysis

Many businesses emphasize organic growth initiatives, including new launches, product approvals, patents, and events. Acquisitions, partnerships & collaborations were examples of inorganic growth tactics observed in the market. These actions have enabled market participants to increase their clientele and revenue.

With the increasing demand for coal to liquid fuel on the worldwide market, market participants in the coal to liquid fuel (CTL) market may expect to benefit from attractive growth prospects in the future. The list of a few businesses active in the market for alternative marine power is provided below.

A list of some of the key suppliers present in the market 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.
•   Sasol Limited

Global Coal to Liquid Fuel (CTL) Market 2022-2032: Report Coverage and Highlights

• Assessment of the historical and current market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
• Key drivers, restraints, opportunities, and key emerging trends impacting market growth
• Predictions on critical supply, demand, and technological trends and changes in consumer behavior
• Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
• Segment-wise, country-wise, and region-wise market analysis
• Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
• Key product innovations and regulatory framework
• Covid-19 impact on the market and how to navigate
• Strategic market analysis and recommendations on crucial winning strategies

• Report Includes

  Market Size Data

  • Global market size data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment and region
  • Regional level market size data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment and country
  • Country level market share data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment
  • Market attractiveness analysis based on market share index and CAGR index for each of the segments and regions
  • Incremental dollar opportunity generated in the forecast period would be indicated
  • Key Takeaways, Recommendations, and key investment pockets for the relevant segments would be highlighted

  Market Background

  • Macroeconomic factors that impact the market developments
  • Market dynamics (Drivers, Restraints, Opportunities) that positively or negatively influence market growth
  • Supply Side and Demand Side trends – trends witnessed from buyers and suppliers side
  • Production and Consumption Gap Analysis – analysis of gap between production and consumption in any geography to fulfil unmet demand
  • Trade analysis and analysis of key supply and demand hubs
  • Identification of hotbed opportunities existing in the market
  • Porter’s and PEST analysis to understand the business environment of the geography
  • Regulatory scenario – Identification of key sector specific and trade regulations, and assessment of whether it helps or hinder market development & growth

  Pricing Analysis

  • Regional-level product pricing analysis to set and benchmark your current or future product offerings across each product type
  • Historical and projected pricing trends of the product which helps in determining the product’s price and/or services beneficial for companies product lifecycle
  • Cost teardown analysis and key factors impacting pricing

  Value Chain Analysis

  • Country-wise list of raw material suppliers
    • Raw material price trends and buyers’ sentiment
    • Overview of Intelligent Sourcing Technique
    • Raw material procurement requirements
    • Vendor selection criteria
  • Country-wise list of product manufacturers
  • Country-wise list of distributors/traders
  • Country-wise list of end-users
    • End-Users/Customers consumption mapping
    • Key End-Users/Customers client list
  • Country-wise list of other key channel partners
  • Average profitability margins
  • Regional value chain dynamics

  Competition Analysis

  • Market shares and production capacities of key players
  • Tier structure analysis of market
  • Comprehensive competition dashboard representing the top 10-15 players in the market
  • Individual company profiles of top 15 to 20 manufacturers
    • Business Overview
    • Product Portfolio
    • Key Financials
    • Recent Developments
    • SWOT Analysis
    • Strategies

Country Coverage
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific

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