Conversion of coal to liquid (CTL) to obtain liquid hydrocarbon products is called as coal liquefaction. Liquid fuels from coal provide a viable alternative to conventional fuels and coal-derived fuels are ultra-clean, low in particulates, and have low nitrogen level.
Major factor driving growth of the global coal to liquid market is rising demand for liquid fuel in transportation sector across the globe. In addition, presence of abundant coal reserves globally, coupled with increasing demand for low carbon emitting fuels are some other factors expected to propel growth of the target market. Byproducts obtained from coal liquefaction such as synthetic wax, coal tar, and lubricants obtained from liquefaction process, are used for roofing, insulating compound. This factor is expected to further drive growth of the target market over the forecast period.
High capital expenditure associated with liquefaction process equipment and plants, and stringent government regulations imposed on emission of greenhouse gases and carbon, are expected to hinder growth of the target market over the forecast period.
The global coal to liquid market is segmented on the basis of technology, application, and region. On the basis of region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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North America market accounted for highest market share in terms of revenue in the global coal to liquid market, as compared to other regions. Its dominance can be attributed to presence of large coal reserves in the region. The market in Asia Pacific is expected to witness considerable growth and is expected to register highest CAGR over the forecast period.
Prominent players in the global coal to liquid market include Chevron Corporation, Pall Corporation, Shenhua Group Corporation Limited, Yankuang Group Co. Ltd., DKRW Energy LLC, Inner Mongolia Yitai Coal Co., Ltd, Envidity Energy Inc., Sasol Limited, TransGas Development Systems LLC, and Oil India Ltd.