The global coal to liquid market was surpassed at USD 6.79 billion in 2021 and is expected to hit around USD 9.67 billion by 2030, growing at a CAGR of 4.01% from 2022 to 2030.
CTL, as a solution for supplementing production of transportation fuels from crude oil seems to be a more prospective option for the development of this industry based on better environmental capabilities, higher flexibility, and a stronger supporting experience and infrastructure.
However, considering the current industry status, if this is supplemented with the development of new FT-based CTL facilities, it is anticipated that additional synergy for hydrocarbon liquefaction should rise in the next eight years. CTL facilities in Mb/d range are expected to be limited to the leading coal-producing nations including U.S., India, China, Australia, South Africa, and Russia. Even if large quantities of Mb/d could be derived using CTL, this would only account for a small fraction of the global oil production and would barely offset the decline in the current oil production figures.
Indirect Coal Liquefaction (ICL) is the most used liquefaction technology. This process offers high value and clean burning fuels. Synthetic fuel produced from coal using this technology can be used in conventional engines without any modification and adds to an improved combustion with lower emissions. However, these fuels have lower fuel economy.
Scope of The Report
Report Coverage | Details |
Market Size in 2021 | USD 6.79 billion |
Revenue Forecast by 2030 | USD 9.67 billion |
Growth rate from 2022 to 2030 | CAGR of 4.01% |
Base Year | 2021 |
Forecast Period | 2022 to 2030 |
Segmentation | Product ,Technology ,Region |
Companies Covered |
China Shenhua Energy Co. Ltd.; Sasol Ltd.; TransGas Development Systems, LLC; Altona Energy PLC; and Envidity Energy, Inc. |
Product Insights
Diesel, gasoline, and other fuels including kerosene are the synthetic fuels produced from the coal liquefaction process. Diesel was the leading product segment in 2021 with a market share of 60.4%. The gasoline segment is expected to witness a significant rise soon, however, diesel will lead the production side for the next few years as diesel is the most preferred fuel to be produced from the liquefaction process.
Diesel produced from CTL processes has various potential advantages. Diesel produced from crude oil contains aromatics, which on combustion produces particulates. But, diesel produced form liquefaction of coal do not contain aromatics and hence it burns much cleaner and overcome one of the major objection of diesel combustion.
Technology Insights
Direct Coal Liquefaction (DCL) process is used in several CTL plants globally. It is suitable and beneficial for several wide ranges of feeds including high-velocity bituminous coals, sub-bituminous coals with low cash, and lignites with low cash. Indirect Coal Liquefaction (ICL) is the most used process and was the largest technology segment. In this process, solid coal is passed into a gas phase process before it is converted into a raw liquid form.
Developed in Germany, this is a patented technology by Franz Fischer and Hans Tropsch and later named as the Fischer-Tropsch (F-T) process. In this process, the syngas i.e. synthesis gas is made up of carbon monoxide and hydrogen. This is then reacted over an F-T catalyst to form a liquid hydrocarbon resulting in a wide array of hydrocarbon fuels and other products, such as gasoline, methanol, diesel, and other chemicals.
Regional Insights
Most of the leading technological developments were considered to have taken place in North America. However, APAC led the global CTL market with the highest fuel production and accounted for over 47% of the overall market share in 2021, in terms of revenue. It is likely to expand further as many industry participants are focusing on opening up CTL facilities in the Asian countries due to maximum growth opportunities, in terms of regulatory framework and economics. Moreover, the region is home to over twelve CTL plants.
The majority of the CTL plants are concentrated around China and a few in India and Indonesia. China has five operating facilities with a maximum production capacity in the region. In Indian, there are three operating projects. Asia Pacific is the most lucrative geographical location for the industry participants because the capital expenditure or CAPEX for CTL plant setup of any capacity is only 70%.
Moreover, FT-diesel production costs are also comparatively lower in APAC than in U.S. China is the largest regional market, in terms of the production of synthetic fuels. It is the world’s largest producer and consumer of coal. The Chinese government is actively involved in promoting the production of synthetic fuels from coal to reduce its dependency on the import of finished petroleum products.
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Coal To Liquid (CTL) Market
5.1. COVID-19 Landscape: Coal To Liquid (CTL) Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Coal To Liquid (CTL) Market, By Product
8.1. Coal To Liquid (CTL) Market, by Product, 2022-2030
8.1.1. Diesel
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Gasoline
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Others
8.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Coal To Liquid (CTL) Market, By Technology
9.1. Coal To Liquid (CTL) Market, by Technology, 2022-2030
9.1.1. DCL
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. ICL
9.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Coal To Liquid (CTL) Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.2. Market Revenue and Forecast, by Technology (2017-2030)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.3.2. Market Revenue and Forecast, by Technology (2017-2030)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.4.2. Market Revenue and Forecast, by Technology (2017-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.2. Market Revenue and Forecast, by Technology (2017-2030)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.3.2. Market Revenue and Forecast, by Technology (2017-2030)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.4.2. Market Revenue and Forecast, by Technology (2017-2030)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.5.2. Market Revenue and Forecast, by Technology (2017-2030)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.6.2. Market Revenue and Forecast, by Technology (2017-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.2. Market Revenue and Forecast, by Technology (2017-2030)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.3.2. Market Revenue and Forecast, by Technology (2017-2030)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.4.2. Market Revenue and Forecast, by Technology (2017-2030)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.5.2. Market Revenue and Forecast, by Technology (2017-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.6.2. Market Revenue and Forecast, by Technology (2017-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.2. Market Revenue and Forecast, by Technology (2017-2030)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.3.2. Market Revenue and Forecast, by Technology (2017-2030)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.4.2. Market Revenue and Forecast, by Technology (2017-2030)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.5.2. Market Revenue and Forecast, by Technology (2017-2030)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.6.2. Market Revenue and Forecast, by Technology (2017-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.2. Market Revenue and Forecast, by Technology (2017-2030)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.3.2. Market Revenue and Forecast, by Technology (2017-2030)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.4.2. Market Revenue and Forecast, by Technology (2017-2030)
Chapter 11. Company Profiles
11.1. China Shenhua Energy Co. Ltd.
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Sasol Ltd.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. TransGas Development Systems, LLC
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Altona Energy PLC
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. LTE Scientific
11.5. Envidity Energy, Inc.
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms