The global synthetic fuel market is anticipated to grow at a CAGR of 22.8% during the forecast period (2023-2030). The market is driven by factors such as growing government support and increasing collaboration between market players among others. For instance,
Browse the full report description of “Synthetic Fuel Market Size, Share & Trends Analysis Report by Raw Material (Coal, Natural Gas, and Biomass), by Type (Coal-to-Liquid (CTL), Biomass-to-Liquid (BTL), Gas-to-Liquid (GTL), Shale Oil, and Extra-Heavy Oil), and by Application (Transportation, Aviation, Power Generation, and Industrial) Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/synthetic-fuel-market
• In September 2023, Cielo announced an Asset Purchase Agreement with Expander Energy Inc. to deploy technology for the production of low-carbon renewable synthetic fuel.
• In October 2023, Zero Petroleum, a producer of carbon-neutral synthetic fuel, signed an agreement with ADNOC to explore the development of a new plant in the UAE. The plant would focus on commercial-scale production of 100% carbon-neutral drop-in fuels using Zero's DirectFT fuel technology.
• In September 2023, Zero Petroleum, a producer of synthetic fuels, partnered with Rolls-Royce, a global engineering company, to develop fossil-free synthetic fuels. Under this agreement, Zero and Rolls-Royce will work together to test Zero's synthetic fuels across a range of Rolls-Royce engines used in aviation, marine, and defense applications. Data gathered from engine testing will be used to meet international fuel certification standards and directly reduce carbon emissions associated with Rolls-Royce engines. This partnership signifies increasing momentum behind the use of synthetic fuels as a viable replacement for traditional fossil fuels.
• In August 2023, Bolivia's state oil and gas company YPFB launched a tender for a conceptual engineering study to produce synthetic diesel and petrochemicals from tires, plastics, and used lubricants.
• In August 2023, Mitsubishi Heavy Industries (MHI) launched a center for the development of energy decarbonization technologies in Nagasaki, Japan. The center, called Nagasaki Carbon Neutral Park, will focus on developing technologies for fuel production, combustion, and CO2 capture.
Market Coverage
• The market number available for – 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Raw material
o By Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes Sasol Limited, Reliance Industries Ltd., Exxon Mobil Corporation, and Robert Bosch GmbH among others.
Key questions addressed by the report.
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Synthetic Fuel Market Report Segment
By Raw material
By Type
By Application
Global Synthetic Fuel Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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