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The CTL market share is expected to increase to USD 786.36 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.08%.
This coal to liquid (CTL) market research report extensively covers coal to liquid (CTL) market segmentation by product (liquid fuels and chemicals) and geography (APAC, Middle East and Africa, North America, Europe, and South America). The coal to liquid market report also offers information on several market vendors, including Air Products and Chemicals Inc., Altona Rare Earths Plc, PT. Bakrie Global Ventura, Celanese Corp., Chevron Corp., DKRW Energy Partners LLC, Envidity Energy Inc., INNER MONGOLIA YITAI COAL CO. LTD. , Linc Energy Systems, Pall Corp., Qatargas Operating Co. Ltd., Regius Synfuels, Sasol Ltd., Shell plc, China Shenhua Energy Co. Ltd., TransGas Development Systems, and Yankuang Group among others.
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Technavio categorizes the global coal to liquid market as a part of the global coal and consumable fuels market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the coal to liquid (CTL) market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the coal to liquid (CTL) market encompasses successful business strategies deployed by the key vendors. The coal to liquid (CTL) market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The coal to liquid (CTL) market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
The abundant availability of coal is notably driving the coal to liquid (CTL) market growth, although factors such as volatile crude oil prices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the coal to liquid (CTL) industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Coal To Liquid (CTL) Market Driver
One of the key factors driving the global coal to liquid (CTL) market growth is the abundant availability of coal owing to exploration efforts to find coal deposits. Typically, the procedure begins with creating a geological map of the region, followed by geochemical and geophysical investigations, and finally by exploration drilling. This provides a clear image of the region to be developed. The region will only become a mine if it is large enough and of sufficient quality to extract the coal economically. Coal deposits are located worldwide, thus, the major coal-producing areas are not limited to one. China, India, the US, Indonesia, and Australia are the top five hard coal producers. The majority of coal produced is consumed in the nation where it was produced. Thus, the abundant availability of coal will drive the market growth during the forecast period.
Key Coal To Liquid (CTL) Market Trend
Growing demand for petrochemicals feedstock is one of the key coal-to-liquid market trends that is expected to impact the industry positively in the forecast period. According to the IEA, petrochemical manufacturing consumed approximately 14% of the total oil in 2020, amounting to 13 million barrels of oil per day. According to the IEA, petrochemicals are expected to account for more than one-third of the growth in the global oil demand by 2030 and nearly half of the growth by 2050. This will result in almost 7 million barrels per day of oil by 2050. Hence, the oil feedstock demand for producing primary chemicals is expected to rise by 30% by 2030. The demand for naphtha, ethane, and LPG as petrochemicals feedstocks is expected to rise much faster than the total oil demand increasing their share of the total oil consumption from 19% in 2019 to 23% in 2040. Such factors are expected to further support the market growth in the coming years.
Key Coal To Liquid (CTL) Market Challenge
One of the key challenges to the global CTL market growth is the volatile crude oil prices. According to the EIA, the crude oil import price plunged from USD 96.23 per barrel in 2014 to USD 15.18 per barrel in 2020, owing to the COVID-19 pandemic. However, the crude oil price began rising and reached USD 65.67 per barrel in 2021. In addition, in case the crude oil costs decline, the companies that produce diesel and naphtha using conventional refining processes find themselves better positioned to price their products competitively. Such a situation ensures profit margins for the companies and reduced prices for the end-users. Hence, this results in a lesser preference for the CTL products since they are produced using coal as the feedstock and capital-intensive CTL technologies. As a result, this adversely impacts the profit margins of the market vendors if the selling price of CTL products is not increased. Such fluctuations will limit the market growth during the forecast period.
This coal to liquid (CTL) market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Our report provides extensive information on the value chain analysis for the coal to liquid (CTL) market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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73% of the market's growth will originate from APAC during the forecast period. China and Indonesia are the key markets for coal to liquid (CTL) in APAC. Market growth in this region will be faster than the growth of the market in Middle East and Africa.
The significant increase in oil prices and rich coal resources in countries such as China will facilitate the coal to liquid (CTL) market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In early 2020, the outbreak of COVID-19 hindered the demand for CTL from the consumers and manufacturing industries. Several countries, including China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines, are under a partial or full lockdown due to the pandemic. There was a gradual decrease in the number of COVID-19 cases in the first half of 2021, which led to the lifting of nationwide lockdown and reopening of factories and manufacturing units. Thus, we can expect to see a high growth rate for the CTL market during the forecast period.
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The coal to liquid (CTL) market share growth by the liquid fuels segment will be significant during the forecast period. The growth is attributed to the significant increase in the adoption of liquid fuels, owing to stringent regulations such as the Euro IV and Euro V to curb emissions and protect the environment from their adverse impact.
This report provides an accurate prediction of the contribution of all the segments to the growth of the coal to liquid (CTL) market size and actionable market insights on post COVID-19 impact on each segment.
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Coal To Liquid (CTL) Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.08% |
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Market growth 2022-2026 |
$ 786.36 million |
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Market structure |
Fragmented |
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YoY growth (%) |
3.23 |
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Regional analysis |
APAC, Middle East and Africa, North America, Europe, and South America |
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Performing market contribution |
APAC at 73% |
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Key consumer countries |
US, South Africa, China, Australia, and Indonesia |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Air Products and Chemicals Inc., Altona Rare Earths Plc, PT. Bakrie Global Ventura, Celanese Corp., Chevron Corp., DKRW Energy Partners LLC, Envidity Energy Inc., INNER MONGOLIA YITAI COAL CO. LTD., Linc Energy Systems, Pall Corp., Qatargas Operating Co. Ltd., Regius Synfuels, Sasol Ltd., Shell plc, China Shenhua Energy Co. Ltd., TransGas Development Systems, and Yankuang Group |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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