Gas to liquid (GTL) Market
Gas to liquid (GTL) Market Introduction:
Gas to liquid (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%.
Gas to liquid (GTL) is a refinery process that converts natural gas or other gaseous hydrocarbons into longer-chain hydrocarbons such as gasoline or diesel fuel. The process converts methane-rich gases into liquid synthetic fuels by direct conversion or by using synthetic gas (syngas) as an intermediate through the Fisher Tropsch process.
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Market Application:
Gas-to-Liquid (GTL) Market is primarily dominated by five companies, namely, Royal Dutch Shell plc. (The Netherlands), Chevron Corporation (U.S.), Sasol Limited (South Africa), PetroSA (South Africa), and Velocys Plc. (U.K.). Royal Dutch Shell plc holding the first position with a share of 51.11% in 2016, among the top five market players. The company has a huge brand image, broad product portfolio, and strong distribution network around the globe. It operates through three segments, namely integrated gas, upstream, downstream and corporate. Integrated Gas Segment covers liquefied natural gas (LNG) and gas-to-liquids (GTL) production facilities. The company pursues a strategy of organic growth along with operational competitiveness and investments in the targeted areas. The company seeks to strengthen leadership in the oil and gas industry, while positioning themselves for growth as the world transitions to a low-carbon energy system. Recently, the company has signed memorandum of understanding with the Mozambique government to build a 38,000 bbl/day gas to liquid plant, which will produce synthetic diesel, naphtha and kerosene, and 50-80 MW of power to the local market.
The increasing demand for energy and the growing population across the globe has necessitated the development of alternate energy sources to ease the burden on conventional sources. This factor driving the growth of the market. Increasing concerns about fossil fuel depletion is also expected to foster industry growth. Increase of stringent environmental regulations by several governments to control pollution and promote cleaner fuel sources is further expected to complement industry growth. Moreover, the increase in the application of gas-to-liquid (GTL) products, in various industries, boost the growth of the market. However, high cost associated with the development of gas to liquids plant may act as restraining factor of the market.
Sasol together with Uzbekneftegaz and Petronas are building the Uzbekistan GTL plant. The 38,000-bpd plant will produce a combination of diesel and naphtha and kerosene for the aviation sector and will help the country reduce its dependence on imports of crude oil. The project is estimated to cost USD 4.5 Billion.
Key Players:
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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Regional Analysis:
Based on region, GTL market has been segmented as the U.S., Qatar, South Africa, Nigeria, and Malaysia. Qatar dominates the Gas to liquid (GTL) market. Presently, 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. 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. Moreover, U.S. is also another major market for the GTL. Currently, two GTL plants operate in the U.S. One of the plants is in Lake Charles, Louisiana, operated by Juniper GTL and is expected to produce 1,100 bpd of refined products, including waxes, drilling fluids, distillate and naphtha, from natural gas. Another plant which is in Port of Ashtabula, Ohio, is operated by Velocys plc.
Competitive Analysis:
Characterized by the presence of several well-established and small players, the global Market of Gas to liquid (GTL) appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch to gain competitive advantage in this market and to maintain their market position. These key players compete based upon pricing, and services. Vendors operating in the market strive to deliver the best quality products and services based on innovative technologies, and best practices. These Key Players make a substantial investment for R&D and to secure a guaranteed resource for the customers. Gas to liquid (GTL) market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further.
Market Segmentation:
Based on product, Gas to liquid (GTL) market has been divided as GTL diesel, and GTL naphtha. GTL diesel dominates the product segment of global market. Gas to liquid diesel is superior than conventional refinery diesel produced from crude oil, in quality. 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.
Based on application, the market has been segmented Fuel Oil, Lubricating Oil, Process Oil, and Others. Fuel Oil dominates the application segment of global market. 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.
Segmentation by Regions: Comprises Geographical regions – U.S., Qatar, South Africa, Nigeria, and Malaysia.
Table of Content:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
5 Global Gas To Liquid Market, By Product
5.1 Introduction
5.2 GTL Diesel
5.2.1 Market Estimates & Forecast, 2018-2023
5.2.2 Market Estimates & Forecast by Region, 2018-2023
5.3 GTL Naphtha
5.3.1 Market Estimates & Forecast, 2018-2023
5.3.2 Market Estimates & Forecast by Region, 2018-2023
Table of Content to be Continue…….,
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