Coal To Liquid Market Size To Reach $7.27 Billion By 2030

Coal To Liquid Market Growth & Trends

The global coal to liquid market size is expected to reach USD 7.27 billion by 2030, registering a CAGR of 8.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. 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.

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Coal To Liquid Market Report Highlights

• The direct liquefaction segment dominated the market in 2023 with a share of 85.5%. Direct liquefaction offers properties such as low emissions and low water consumption. Technological advancements have led to improved efficiency and yielding capacity of direct liquefaction processes.

• The diesel segment dominated the market in 2023 with a share of 66.6%. Rising demand for diesel has resulted in the market growth of this segment, as diesel is utilized for heavy vehicles such as trucks, buses, and equipment.

• The transportation fuel segment dominated the market in 2023 with a share of 89.4%. Rising demand for commercial and passenger vehicles due to rapid urbanization has led to the market growth of this segment.

• Asia Pacific dominated the coal to liquid market with a market share of 64.4% in 2023. The market growth is due to abundant coal reserves, making Asia Pacific an ideal location for implementing CTL technology. 

Coal To Liquid Market Segmentation

Grand View Research has segmented the global coal to liquid market on the basis of on technology, product, application, and region:

Coal To Liquid Technology Material Outlook (Revenue, USD Million, 2018 - 2030)

• Direct Liquefaction

• Indirect Liquefaction

Coal To Liquid Product Material Outlook (Revenue, USD Million, 2018 - 2030)

• Diesel

• Gasoline

• Other Fuels

Coal To Liquid Application Outlook (Revenue, USD Million, 2018 - 2030)

• Transportation Fuel

• Cooking Fuel

• Others

Coal To Liquid Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Russia

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

List of Key Players in the Coal To Liquid Market

• Envidity Energy Inc.

• INNER MONGOLIA YITAI COAL CO., LTD.

• Altona Rare Earths Plc

• Bakrie Global Ventura

• Celanese Corporation

• CHINA SHENHUA

• Monash Energy

• Sasol Limited

• Linc Energy Systems

• Bumi plc