Coal-to-liquid Fuels Market: Sulfur-free and Eco-friendly Fuels
- Coal is one of most sought-after non-renewable sources used to generate electricity, power, and petroleum fuels across the globe. Coal is found in abundance in the form of reservoirs worldwide. Petroleum fuels, such as gasoline, petrol, and diesel, have become a very common source of power for automotive vehicles.
- Coal-to-liquid fuel is also called the liquefaction. Using the technology, coal can be converted into liquid fuels such as diesel and petrol. The process of conversion of coal into liquid fuels has attracted high attention over the last few years, due to limited availability of crude oil and depleting levels of fossil fuel reservoirs.
- Both coal and petroleum consist of hydrocarbon bonds, which are essential for the conversion of coal into liquid fuels. The conversion can be achieved by using two methods: direct liquefaction and indirect liquefaction. The synthesized coal is dissolved in solvents and is heated at high temperatures under high pressures. After this, it is processed through hydrogenation to obtain high-grade and clean petroleum fuels.
- Coal-to-liquid fuels are widely used in various countries such as China, Germany, and South Africa to suffice the demand for petroleum fuels from transportation vehicles
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Key Drivers of Coal-to-liquid Fuels Market
- Increasing demand for petroleum, led by risen dependency of passenger cars and commercial vehicles, is likely to boost the global coal-to-liquid fuels market in the next few years. Transportation, logistics, and other end-use industries across the world are highly dependent on liquid fuels.
- Rising demand for coal to generate power and electricity as a feedstock in power generation plants is likely to drive mining and extraction activities in major coal mines across the globe in the near future. This factor is likely to control raw material prices and ease the availability of coal for liquefaction. This factor is expected to boost the demand for coal-to-liquid fuels during the forecast period.
- Technological advancements in the process of synthesis of coal-to-liquid fuels have enhanced the grade and purity of liquid fuels. This has resulted in the production of gasoline from coal, similar to the conventional crude oil. These key factors are anticipated to drive the global coal-to-liquid fuels market during the forecast period.
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Direct Coal-to-liquid Fuels Segment to Offer Lucrative Opportunities
- Extensive R&D activities in the coal liquefaction process over the last few years have achieved production of low-sulfur and high-grade liquid fuels that can be directly used in vehicles. The coal-to-liquid conversion involves two processes: direct coal liquefaction (DCL) and indirect coal liquefaction (ICL).
- The direct coal liquefaction process is widely used in the production of liquid fuels across the globe, due to its excellent efficiency and benefits associated with the direct conversion. This key factor is likely to boost the demand for coal-to-liquid fuels in the next few years.
- Rising demand for eco-friendly and sulfur-free liquid fuels led by stringent regulations on carbon emissions are expected to provide lucrative opportunities to manufacturers operating in the global coal-to-liquid fuels market in the next few years.
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Decreasing Dependency on Conventional Fuels to Hamper Market
- Coal-to-liquid fuels are likely to face key challenges from other emerging industries such as automotive electric vehicles and fuel cell industry. This may hamper the market during the forecast period. Coal-to-liquid fuel requires high capital investments for setting up of production plants at a large scale. This factor may act as an entry barrier for new players entering the global coal-to-liquid fuels market.
- The global automotive industry is witnessing considerable shift from conventional fuel engines to electric engines, which can reduce the demand for liquid fuels worldwide. This factor is likely to reduce the dependency on liquid fuels and hamper the market during the forecast period.
Asia Pacific to Hold a Major Share of Global Coal-to-liquid Fuels Market
- Geographically, the global market for coal-to-liquid fuels can be divided into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is a leading consumer of coal-to-liquid fuels, due to strong presence of coal-to-liquid processing plants in China. Rising demand for petroleum fuels in China, Japan, and South Korea is expected to create immense opportunities for the coal-to-liquid fuels market during the forecast period.
- Rising government investments in the energy & power sector in developing economies of Asia Pacific are likely to drive the market in the region during the forecast period
- Lack of crude oil reservoirs in several countries of North America and Europe, which are highly dependent on imports, is propelling the demand for coal-to-liquid fuels in these regions
- Abundance of coal reservoirs in Latin America and Middle East & Africa is likely to boost the demand for coal-to-liquid fuels in these regions during the forecast period.
Key Players Operating in the Market:
The global coal-to-liquid fuels market witness presence of major companies operating at the regional and global levels. Some of the key players operating in the global market are:
- Sasol Limited
- Linc Energy
- Envidity Energy Inc.
- Altona Energy Plc
- Shenhua Group
- Yitai Yili Energy
- Celanese Corporation
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