Synthetic Fuels Market by Type (Biomass to Liquid Fuel, Gas to Liquid Fuel, Methanol to Liquid Fuel), Refining Method (Coal Liquefaction, Fischer–Tropsch Conversion, Methanol to Gasoline Conversion), Raw Material, Application, End-user - Global Forecast 2024-2030
The Synthetic Fuels Market size was estimated at USD 46.53 billion in 2023 and expected to reach USD 49.10 billion in 2024, at a CAGR 5.79% to reach USD 69.02 billion by 2030.
Synthetic fuels are liquid fuels with identical properties to fossil fuels but are created artificially and can be used the same way fossil fuels are used worldwide. Synthetic fuel is generally obtained from a mixture of hydrogen and carbon monoxide, which are synthetic gases. Rapid surges in fossil fuel prices worldwide can create demand for synthetic fuels. Moreover, increasing environmental issues and stringent regulations on carbon emissions propel the market expansion. The higher cost associated with the production and distribution of synthetic fuel than conventional fuels remains a significant restraint for market growth. Pollution caused by manufacturing processes of synthetic fuels might hinder market developments. Ongoing research activities to reduce oil dependence and integrate synthetic fuels with the existing transportation infrastructure provide lucrative industry growth opportunities.
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- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Increasing focus on decarbonization and transition to renewable energy sources
- 5.1.1.2. Government support for the development of e-fuels and stringent regulations on carbon emissions associated with fossil fuels
- 5.1.2. Restraints
- 5.1.2.1. High cost associated with the production of synthetic fuels
- 5.1.3. Opportunities
- 5.1.3.1. Advancements in technology for producing sustainable fuels
- 5.1.3.2. Growing integration of synthetic fuels across the aviation sector
- 5.1.4. Challenges
- 5.1.4.1. Pollution and technical issues with manufacturing processes of synthetic fuels
- 5.2. Market Segmentation Analysis
- 5.2.1. Raw Material: Increasing demand for synthetic fuel made from Coal, owing to its abundant availability
- 5.2.2. Refining Method: Wider adoption of fischer-tropsch synthesis for relatively pure hydrogen output
- 5.2.3. Type: Growing popularity of power-to-liquid fuel owing to its advantages of low consumption of water and land
- 5.2.4. Application: Rising use of synthetic kerosene for sustainable flying
- 5.2.5. End-user: Growing utilization of synthetic fuel in the transport sector to reduce reliance on fossil fuels
- 5.3. Market Disruption Analysis
- 5.4. Porter’s Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
- 5.5. Value Chain & Critical Path Analysis
- 5.6. Pricing Analysis
- 5.7. Technology Analysis
- 5.8. Patent Analysis
- 5.9. Trade Analysis
- 5.10. Regulatory Framework Analysis
- 6. Synthetic Fuels Market, by Type
- 6.1. Introduction
- 6.2. Biomass to Liquid Fuel
- 6.3. Gas to Liquid Fuel
- 6.4. Methanol to Liquid Fuel
- 6.5. Power to Liquid Fuel
- 7. Synthetic Fuels Market, by Refining Method
- 7.1. Introduction
- 7.2. Coal Liquefaction
- 7.3. Fischer–Tropsch Conversion
- 7.4. Methanol to Gasoline Conversion
- 8. Synthetic Fuels Market, by Raw Material
- 8.1. Introduction
- 8.2. Biomass
- 8.3. Coal
- 8.4. Natural Gas
- 9. Synthetic Fuels Market, by Application
- 9.1. Introduction
- 9.2. Diesel
- 9.3. Gasoline
- 9.4. Kerosene
- 10. Synthetic Fuels Market, by End-user
- 10.1. Introduction
- 10.2. Industrial
- 10.3. Manufacturing
- 10.4. Transportation
- 11. Americas Synthetic Fuels Market
- 11.1. Introduction
- 11.2. Argentina
- 11.3. Brazil
- 11.4. Canada
- 11.5. Mexico
- 11.6. United States
- 12. Asia-Pacific Synthetic Fuels Market
- 12.1. Introduction
- 12.2. Australia
- 12.3. China
- 12.4. India
- 12.5. Indonesia
- 12.6. Japan
- 12.7. Malaysia
- 12.8. Philippines
- 12.9. Singapore
- 12.10. South Korea
- 12.11. Taiwan
- 12.12. Thailand
- 12.13. Vietnam
- 13. Europe, Middle East & Africa Synthetic Fuels Market
- 13.1. Introduction
- 13.2. Denmark
- 13.3. Egypt
- 13.4. Finland
- 13.5. France
- 13.6. Germany
- 13.7. Israel
- 13.8. Italy
- 13.9. Netherlands
- 13.10. Nigeria
- 13.11. Norway
- 13.12. Poland
- 13.13. Qatar
- 13.14. Russia
- 13.15. Saudi Arabia
- 13.16. South Africa
- 13.17. Spain
- 13.18. Sweden
- 13.19. Switzerland
- 13.20. Turkey
- 13.21. United Arab Emirates
- 13.22. United Kingdom
- 14. Competitive Landscape
- 14.1. Market Share Analysis, 2023
- 14.2. FPNV Positioning Matrix, 2023
- 14.3. Competitive Scenario Analysis
- 14.3.1. Aramco Plans to Produce Synthetic Fuels by 2025 at Test Plants
- 14.3.2. Aramco and ENOWA to Develop E-Fuel Demonstration Plant
- 14.3.3. Successful Production of FT Synthetic Fuel from Synthesis Gas with an Admixture of 20% Carbon Dioxide
- 14.3.4. ORLEN Partners With Yokogawa to Develop Technology for Sustainable Aviation Fuel Production
- 14.3.5. Rolls-Royce and Zero Petroleum Join Forces to Develop Sustainable Future
- 14.3.6. Vertimass EMEA Signs Agreement to Acquire European Renewable Fuel Company Ekobenz
- 14.3.7. Intertek and Zero Petroleum Partner to Accelerate the Transition to Synthetic Fuels
- 14.3.8. Babcock and Zero to Test, Develop and Produce a Synthetic Drop-in Fuel
- 14.3.9. Zero to Open a First Fully Featured Synthetic Fuel Facility in June Alongside Accelerated International Growth Plan
- 14.4. Strategy Analysis & Recommendation
- 15. Competitive Portfolio
- 15.1. Key Company Profiles
- 15.2. Key Product Portfolio
- FIGURE 1. SYNTHETIC FUELS MARKET RESEARCH PROCESS
- FIGURE 2. SYNTHETIC FUELS MARKET SIZE, 2023 VS 2030
- FIGURE 3. GLOBAL SYNTHETIC FUELS MARKET SIZE, 2018-2030 (USD MILLION)
- FIGURE 4. GLOBAL SYNTHETIC FUELS MARKET SIZE, BY REGION, 2023 VS 2030 (%)
- FIGURE 5. GLOBAL SYNTHETIC FUELS MARKET SIZE, BY REGION, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 6. SYNTHETIC FUELS MARKET DYNAMICS
- FIGURE 7. GLOBAL SYNTHETIC FUELS MARKET SIZE, BY TYPE, 2023 VS 2030 (%)
- FIGURE 8. GLOBAL SYNTHETIC FUELS MARKET SIZE, BY TYPE, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 9. GLOBAL SYNTHETIC FUELS MARKET SIZE, BY REFINING METHOD, 2023 VS 2030 (%)
- FIGURE 10. GLOBAL SYNTHETIC FUELS MARKET SIZE, BY REFINING METHOD, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 11. GLOBAL SYNTHETIC FUELS MARKET SIZE, BY RAW MATERIAL, 2023 VS 2030 (%)
- FIGURE 12. GLOBAL SYNTHETIC FUELS MARKET SIZE, BY RAW MATERIAL, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 13. GLOBAL SYNTHETIC FUELS MARKET SIZE, BY APPLICATION, 2023 VS 2030 (%)
- FIGURE 14. GLOBAL SYNTHETIC FUELS MARKET SIZE, BY APPLICATION, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 15. GLOBAL SYNTHETIC FUELS MARKET SIZE, BY END-USER, 2023 VS 2030 (%)
- FIGURE 16. GLOBAL SYNTHETIC FUELS MARKET SIZE, BY END-USER, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 17. AMERICAS SYNTHETIC FUELS MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
- FIGURE 18. AMERICAS SYNTHETIC FUELS MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 19. UNITED STATES SYNTHETIC FUELS MARKET SIZE, BY STATE, 2023 VS 2030 (%)
- FIGURE 20. UNITED STATES SYNTHETIC FUELS MARKET SIZE, BY STATE, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 21. ASIA-PACIFIC SYNTHETIC FUELS MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
- FIGURE 22. ASIA-PACIFIC SYNTHETIC FUELS MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 23. EUROPE, MIDDLE EAST & AFRICA SYNTHETIC FUELS MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
- FIGURE 24. EUROPE, MIDDLE EAST & AFRICA SYNTHETIC FUELS MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
- FIGURE 25. SYNTHETIC FUELS MARKET SHARE, BY KEY PLAYER, 2023
- FIGURE 26. SYNTHETIC FUELS MARKET, FPNV POSITIONING MATRIX, 2023
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