Gas-to-liquid (GTL) Market by Product and Geography - Forecast and Analysis 2022-2026

The gas-to-liquid (GTL) market share is expected to increase to USD 2.97 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.58%.

This gas-to-liquid (GTL) market research report extensively covers GTL market segmentation by product (GTL diesel, GTL naphtha, and others (which include synthetic fuels, natural gas, diesel fuels, and fossil fuels)) and geography (Middle East and Africa, North America, APAC, Europe, and South America). The gas-to-liquid (GTL) market report also offers information on several market vendors, including Axens SA, Black and Veatch Holding Co., Calvert Energy Group LLC, Chevron Corp., CompactGTL Ltd., Equinor ASA, Gas Technologies LLC, Greenway Technologies Inc., Greyrock Energy Inc., Haldor Topsoe AS, KBR Inc., Kenon Holdings Ltd., Nigerian National Petroleum Corp., OxEon Energy LLC, Petroleum Oil and Gas Corp. of South Africa SOC Ltd., QatarEnergy, Sasol Ltd., Shell plc, STI Gustav Stabernack GmbH, Uzbekistan GTL LLC, Velocys Plc, Xebec Adsorption Inc., and XTL Technology Ltd. Download for Full Vendor List 

What will the Gas-to-liquid (GTL) Market Size be During the Forecast Period?

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Parent Market Analysis

Technavio categorizes the global gas-to-liquid (GTL) market as a part of the global oil and gas exploration and production market. Our Technavio Research categorizes the market belonging to Oil & Gas Exploration & Production industry as  With the 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 in the forecast year. 

Gas-to-liquid (GTL) Market: Key Drivers, Trends, and Challenges

The rise in natural gas production is notably driving the gas-to-liquid (GTL) market growth, although factors such as high capital cost of GTL plants 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 gas-to-liquid (GTL) industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Gas-to-liquid (GTL) Market Driver

One of the key factors driving the global gas-to-liquid (GTL) market growth is the rise in natural gas production. Since 2008, the successful extraction of shale oil and gas in countries such as the US has been carried out, which has resulted in an increase in the global gas supply. According to the EIA, the production of shale gas in the US grew from 7,994 billion cubic feet (BCF) in 2011 to 18,589 BCF in 2017. According to the IEA, the US is expected to produce 890 BCm or account for 22% of the global natural gas produced by 2022. In March 2018, Qatar Petroleum tendered bids for an offshore gas pipeline contract for the Barzan site in Qatar. The Barzan project in Qatar is a planned offshore gas development worth USD 10 billion, which is expected to deliver Qatar's one-tenth of current total gas production. Such factors will drive the market growth during the forecast period.

Key Gas-to-liquid (GTL) Market Trend

Technological developments is one of the key gas-to-liquid (GTL) market trends that is expected to impact the industry positively in the forecast period. For instance, in 2016, Calvert Energy Group LLC and OxEon Energy entered into a long-term development and licensing agreement for financing, designing, building, and marketing OxEon Energy's patented GTL technologies in Mexico, Africa, Russia, and the Middle East. In addition, reactors can operate at very low power levels and can accept varying gas feed compositions directly from the well pad or processing unit. This development has won the recognition of the US Department of Energy, the US Air Force, and other oil and gas companies globally. INFRA Technology offers a GTL technology that employs a novel high-productive catalyst and reactor design, thus producing value-added light synthetic crude oil and clean liquid synthetic transportation fuels. Such developments will boost the growth of the global GTL market in the coming years.

Key Gas-to-liquid (GTL) Market Challenge

One of the key challenges to the global gas-to-liquid (GTL) market growth is the high capital cost of GTL plants. For instance, the capital cost of a typical 100 thousand barrels per day GTL plant is about USD 10 billion. Shortage of project finance facilities for capital-intensive energy projects, lack of engineering, procurement, and construction contractors who can manage large-scale projects, resulting in a lack of competition, and operational complexity associated with GTL plants are some of the challenges that are faced by vendors. In addition, the oil prices have been plunging, owing to the growth in oil production. The crude oil import price reduced from USD 96.23 per barrel in 2014 to USD 15.18 per barrel in 2020, owing to the COVID-19 pandemic in 2020. Hence, the absence of the synchronicity of these elements results in a high capital cost, making the development of large-scale GTL projects unviable for many companies. Such factors will challenge the market growth during the forecast period.

This gas-to-liquid (GTL) 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.

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Who are the Major Gas-to-liquid (GTL) Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Axens SA
• Black and Veatch Holding Co.
• Calvert Energy Group LLC
• Chevron Corp.
• CompactGTL Ltd.
• Equinor ASA
• Gas Technologies LLC
• Greenway Technologies Inc.
• Greyrock Energy Inc.
• Haldor Topsoe AS
• KBR Inc.
• Kenon Holdings Ltd.
• Nigerian National Petroleum Corp.
• OxEon Energy LLC
• Petroleum Oil and Gas Corp. of South Africa SOC Ltd.
• QatarEnergy
• Sasol Ltd.
• Shell plc
• STI Gustav Stabernack GmbH
• Uzbekistan GTL LLC
• Velocys Plc
• Xebec Adsorption Inc.
• XTL Technology Ltd.

 

This statistical study of the gas-to-liquid (GTL) market encompasses successful business strategies deployed by the key vendors. The gas-to-liquid (GTL) market is fragmented and the vendors are deploying growth strategies such as technological innovation to compete in the market.

Product Insights and News

• Axens SA - The company offers gas-to-liquid conversion such as syngas to diesel.
• Axens SA - In November 2021, the company collaborated with Plastic Energy in the field of advanced recycling of plastics, to increase recycling and decrease plastic waste.

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 gas-to-liquid (GTL) 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.

Which are the Key Regions for Gas-to-liquid (GTL) Market?

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68% of the market's growth will originate from the Middle East and Africa during the forecast period. Qatar, South Africa, and Nigeria are the key markets for gas-to-liquid (GTL) in Middle East and Africa. Market growth in this region will be faster than the growth of the market in North America, South America, and Europe.

The availability of natural gas in the region and the technological expertise of vendors in constructing and operating GTL plants will facilitate the gas-to-liquid (GTL) market growth in Middle East and Africa 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

MEA witnessed the spread of COVID-19, which posed a major challenge to various manufacturing industries, such as an automobile. Iran, Saudi Arabia, Qatar, Egypt, Bahrain, Iraq, the UAE, Kuwait, South Africa, and Algeria are some key countries affected by the outbreak in the region. However, with the decrease in the number of COVID-19 cases, due to active vaccination drives, lockdowns were lifted, which led to the opening of manufacturing units and factories. Factors such as these have a positive impact on the market resulting in a moderate growth rate during the forecast period.

Gas-to-liquid (GTL) Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the gas-to-liquid (GTL) 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.

Parent Market Analysis

Technavio categorizes the global gas-to-liquid (GTL) market as a part of the global oil and gas exploration and production 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 gas-to-liquid (GTL) market during the forecast period.

What are the Revenue-generating Product Segments in the Gas-to-liquid (GTL) Market?

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The gas-to-liquid (GTL) market share growth by the GTL diesel segment will be significant during the forecast period. The growth is attributed to the high demand for GTL diesel owing to the environmental benefits of using GTL diesel to reduce emissions and to comply with the stringent emission regulations. Additionally, GTL diesel can be stored for longer periods with a lower risk of contamination compared with biodiesel as GTL diesel does not retain emulsified or dissolved water.

This report provides an accurate prediction of the contribution of all the segments to the growth of the gas-to-liquid (GTL) market size and actionable market insights on post COVID-19 impact on each segment.

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Gas-to-liquid (GTL) Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 4.58%
Market growth 2022-2026	$ 2.97 billion
Market structure	Fragmented
YoY growth (%)	4.31
Regional analysis	Middle East and Africa, North America, APAC, Europe, and South America
Performing market contribution	Middle East and Africa at 68%
Key consumer countries	US, Canada, Qatar, South Africa, Nigeria, and Malaysia
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Axens SA, Black and Veatch Holding Co., Calvert Energy Group LLC, Chevron Corp., CompactGTL Ltd., Equinor ASA, Gas Technologies LLC, Greenway Technologies Inc., Greyrock Energy Inc., Haldor Topsoe AS, KBR Inc., Kenon Holdings Ltd., Nigerian National Petroleum Corp., OxEon Energy LLC, Petroleum Oil and Gas Corp. of South Africa SOC Ltd., QatarEnergy, Sasol Ltd., Shell plc, STI Gustav Stabernack GmbH, Uzbekistan GTL LLC, Velocys Plc, Xebec Adsorption Inc., and XTL Technology Ltd.
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
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.

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What are the Key Data Covered in this Gas-to-liquid (GTL) Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive gas-to-liquid (GTL) market growth during the next five years
• Precise estimation of the gas-to-liquid (GTL) market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the gas-to-liquid (GTL) industry across Middle East and Africa, North America, APAC, Europe, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of gas-to-liquid (GTL) market vendors

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