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PUBLISHER: Grand View Research | PRODUCT CODE: 1889031
PUBLISHER: Grand View Research | PRODUCT CODE: 1889031
Synthetic Fuels Market Size, Share & Trends Analysis Report By Feedstock (Natural Gas, Coal), By Fuel (Synthetic Diesel, Synthetic Gasoline, Synthetic Jet Fuel), By Region, And Segment Forecasts, 2025 - 2033
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PAGES: 120 Pages
DELIVERY TIME: 2-10 business days
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Synthetic Fuels Market Summary
The global synthetic fuels market size was estimated at approximately USD 6.70 billion in 2024 and is projected to reach USD 25.85 billion by 2033, growing at a CAGR of 16.3% from 2025 to 2033. Growth is being propelled by the accelerating global transition toward low-carbon energy systems, increasing demand for sustainable aviation and marine fuels, and ongoing decarbonization efforts across the transport and industrial sectors.
Synthetic fuels produced from renewable hydrogen and captured CO2 or other feedstocks offer a viable pathway to achieve carbon neutrality while leveraging existing fuel infrastructure. Rising investments in Power-to-Liquids (PtL) and Fischer-Tropsch synthesis technologies, combined with government mandates for cleaner fuels and corporate net-zero pledges, are fostering large-scale commercialization. Moreover, ongoing advancements in electrolysis efficiency, carbon capture integration, and fuel synthesis processes are driving down production costs, enabling synthetic fuels to emerge as a practical alternative to conventional fossil-based fuels in hard-to-abate sectors such as aviation, shipping, and heavy transport.
In North America, market growth is supported by robust federal clean fuel standards, expanding renewable hydrogen capacity, and the growing demand for sustainable aviation fuel (SAF). The U.S. leads regional development through Department of Energy (DOE) funded projects, state-level low-carbon fuel programs, and private-sector partnerships aimed at scaling e-fuel production. Increasing collaboration between airlines, oil majors, and technology developers, coupled with Inflation Reduction Act (IRA) tax incentives and renewable fuel credits, is accelerating investment in synthetic fuels refineries. Canada is also contributing to regional expansion, with provincial clean fuel regulations, carbon pricing mechanisms, and industrial decarbonization targets driving interest in carbon-neutral liquid fuels for both on-road and off-grid energy applications.
Europe represents another key growth hub, underpinned by the European Union's "Fit for 55" package, ReFuelEU Aviation initiative, and strong national commitments to phase out fossil fuels. Countries such as Germany, the UK, and Norway are leading early commercialization through large-scale e-fuel pilot plants and integrated Power-to-X projects. Policy incentives supporting green hydrogen, carbon capture, and the integration of renewable energy are fostering a robust value chain for synthetic fuels. Strategic partnerships between refineries, energy companies, and technology innovators are also expanding production capacity. As the region accelerates efforts to achieve climate neutrality by 2050, synthetic fuels are increasingly being recognized as essential to decarbonizing long-haul transport and providing flexible, storable renewable energy for Europe's evolving energy landscape.
Global Synthetic Fuels Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global synthetic fuels market report based on feedstock, fuel, and region.
- Feedstock Outlook (Revenue, USD Million, 2021 - 2033)
- Coal
- Natural Gas
- Biomass
- CO2 + Hydrogen
- Fuel Outlook (Revenue, USD Million, 2021 - 2033)
- Synthetic Diesel
- Synthetic Gasoline
- Synthetic Jet Fuel (SAF)
- Others
- Regional Outlook (Revenue, USD Million, 2021 - 2033)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Brazil
- Middle East & Africa
- Saudi Arabia
- UAE
Product Code: GVR-4-68040-812-8
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Information Analysis
- 1.3.2. Market Formulation & Data Visualization
- 1.3.3. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Feedstocks
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segmental Outlook
- 2.3. Competitive Outlook
Chapter 3. Market Variables, Trends, and Scope
- 3.1. Market Lineage Outlook
- 3.2. Penetration & Growth Prospect Mapping
- 3.3. Value Chain Analysis
- 3.4. Regulatory Framework
- 3.4.1. Standards & Compliance
- 3.4.2. Regulatory Impact Analysis
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.5.3. Market Opportunities
- 3.5.4. Market Challenges
- 3.6. Porter's Five Forces Analysis
- 3.6.1. Bargaining Power of Suppliers
- 3.6.2. Bargaining Power of Buyers
- 3.6.3. Threat of Substitution
- 3.6.4. Threat of New Entrants
- 3.6.5. Competitive Rivalry
- 3.7. PESTLE Analysis
- 3.7.1. Political
- 3.7.2. Economic
- 3.7.3. Social Landscape
- 3.7.4. Technology
- 3.7.5. Environmental
- 3.7.6. Legal
Chapter 4. Synthetic Fuels Market: Feedstock Estimates & Trend Analysis
- 4.1. Synthetic Fuels Market: Feedstock Movement Analysis, 2024 & 2033
- 4.2. Coal
- 4.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 4.3. Natural Gas
- 4.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 4.4. Biomass
- 4.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 4.5. CO2 + Hydrogen
- 4.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
Chapter 5. Synthetic Fuels Market: Fuel Estimates & Trend Analysis
- 5.1. Synthetic Fuels Market: Fuel Movement Analysis, 2024 & 2033
- 5.2. Synthetic Diesel
- 5.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 5.3. Synthetic Gasoline
- 5.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 5.4. Synthetic Jet Fuel (SAF)
- 5.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 5.5. Others
- 5.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
Chapter 6. Synthetic Fuels Market: Regional Estimates & Trend Analysis
- 6.1. Regional Analysis, 2024 & 2033
- 6.2. North America
- 6.2.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.2.2. Market estimates and forecasts, by feedstock, 2021 - 2033 (USD Million)
- 6.2.3. Market estimates and forecasts, by fuel, 2021 - 2033 (USD Million)
- 6.2.4. U.S.
- 6.2.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.2.4.2. Market estimates and forecasts, by feedstock, 2021 - 2033 (USD Million)
- 6.2.4.3. Market estimates and forecasts, by fuel, 2021 - 2033 (USD Million)
- 6.2.5. Canada
- 6.2.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.2.5.2. Market estimates and forecasts, by feedstock, 2021 - 2033 (USD Million)
- 6.2.5.3. Market estimates and forecasts, by fuel, 2021 - 2033 (USD Million)
- 6.2.6. Mexico
- 6.2.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.2.6.2. Market estimates and forecasts, by feedstock, 2021 - 2033 (USD Million)
- 6.2.6.3. Market estimates and forecasts, by fuel, 2021 - 2033 (USD Million)
- 6.3. Europe
- 6.3.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.3.2. Market estimates and forecasts, by feedstock, 2021 - 2033 (USD Million)
- 6.3.3. Market estimates and forecasts, by fuel, 2021 - 2033 (USD Million)
- 6.3.4. Germany
- 6.3.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.3.4.2. Market estimates and forecasts, by feedstock, 2021 - 2033 (USD Million)
- 6.3.4.3. Market estimates and forecasts, by fuel, 2021 - 2033 (USD Million)
- 6.3.5. UK
- 6.3.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.3.5.2. Market estimates and forecasts, by feedstock, 2021 - 2033 (USD Million)
- 6.3.5.3. Market estimates and forecasts, by fuel, 2021 - 2033 (USD Million)
- 6.3.6. France
- 6.3.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.3.6.2. Market estimates and forecasts, by feedstock, 2021 - 2033 (USD Million)
- 6.3.6.3. Market estimates and forecasts, by fuel, 2021 - 2033 (USD Million)
- 6.4. Asia Pacific
- 6.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.4.2. Market estimates and forecasts, by feedstock, 2021 - 2033 (USD Million)
- 6.4.3. Market estimates and forecasts, by fuel, 2021 - 2033 (USD Million)
- 6.4.4. China
- 6.4.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.4.4.2. Market estimates and forecasts, by feedstock, 2021 - 2033 (USD Million)
- 6.4.4.3. Market estimates and forecasts, by fuel, 2021 - 2033 (USD Million)
- 6.4.5. India
- 6.4.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.4.5.2. Market estimates and forecasts, by feedstock, 2021 - 2033 (USD Million)
- 6.4.5.3. Market estimates and forecasts, by fuel, 2021 - 2033 (USD Million)
- 6.4.6. Japan
- 6.4.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.4.6.2. Market estimates and forecasts, by feedstock, 2021 - 2033 (USD Million)
- 6.4.6.3. Market estimates and forecasts, by fuel, 2021 - 2033 (USD Million)
- 6.4.7. South Korea
- 6.4.7.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.4.7.2. Market estimates and forecasts, by feedstock, 2021 - 2033 (USD Million)
- 6.4.7.3. Market estimates and forecasts, by fuel, 2021 - 2033 (USD Million)
- 6.5. Latin America
- 6.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.5.2. Market estimates and forecasts, by feedstock, 2021 - 2033 (USD Million)
- 6.5.3. Market estimates and forecasts, by fuel, 2021 - 2033 (USD Million)
- 6.5.4. Brazil
- 6.5.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.5.4.2. Market estimates and forecasts, by feedstock, 2021 - 2033 (USD Million)
- 6.5.4.3. Market estimates and forecasts, by fuel, 2021 - 2033 (USD Million)
- 6.6. Middle East & Africa
- 6.6.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.6.2. Market estimates and forecasts, by feedstock, 2021 - 2033 (USD Million)
- 6.6.3. Market estimates and forecasts, by fuel, 2021 - 2033 (USD Million)
- 6.6.4. Saudi Arabia
- 6.6.4.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.6.4.2. Market estimates and forecasts, by feedstock, 2021 - 2033 (USD Million)
- 6.6.4.3. Market estimates and forecasts, by fuel, 2021 - 2033 (USD Million)
- 6.6.5. UAE
- 6.6.5.1. Market estimates and forecasts, 2021 - 2033 (USD Million)
- 6.6.5.2. Market estimates and forecasts, by feedstock, 2021 - 2033 (USD Million)
- 6.6.5.3. Market estimates and forecasts, by fuel, 2021 - 2033 (USD Million)
Product Code: GVR-4-68040-812-8
List of Tables
- Table 1 Global synthetic fuels market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 2 Synthetic fuels market estimates & forecasts, in feedstock, 2021 - 2033 (USD Million)
- Table 3 Coal market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 4 Natural Gas market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 5 Biomass market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 6 CO2 + Hydrogen market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 7 Synthetic Fuels market estimates & forecasts, in fuel, 2021 - 2033 (USD Million)
- Table 8 Synthetic Diesel market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 9 Synthetic Gasoline market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 10 Synthetic Jet Fuel (SAF) market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 11 Others market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 12 North America Synthetic Fuels market estimates & forecast, 2021 - 2033 (USD Million)
- Table 13 North America Synthetic Fuels market estimates & forecasts by feedstock, 2021 - 2033 (USD Million)
- Table 14 North America Synthetic Fuels market estimates & forecasts by fuel, 2021 - 2033 (USD Million)
- Table 15 U.S. Synthetic Fuels market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 16 U.S. Synthetic Fuels market estimates & forecasts by feedstock, 2021 - 2033 (USD Million)
- Table 17 U.S. Synthetic Fuels market estimates & forecasts by fuel, 2021 - 2033 (USD Million)
- Table 18 Canada Synthetic Fuels market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 19 Canada Synthetic Fuels market estimates & forecasts by feedstock, 2021 - 2033 (USD Million)
- Table 20 Canada Synthetic Fuels market estimates & forecasts by fuel, 2021 - 2033 (USD Million)
- Table 21 Mexico Synthetic Fuels market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 22 Mexico Synthetic Fuels market estimates & forecasts by feedstock, 2021 - 2033 (USD Million)
- Table 23 Mexico Synthetic Fuels market estimates & forecasts by fuel, 2021 - 2033 (USD Million)
- Table 24 Europe Synthetic Fuels market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 25 Europe Synthetic Fuels market estimates & forecasts by feedstock, 2021 - 2033 (USD Million)
- Table 26 Europe Synthetic Fuels market estimates & forecasts by fuel, 2021 - 2033 (USD Million)
- Table 27 Germany Synthetic Fuels market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 28 Germany Synthetic Fuels market estimates & forecasts by feedstock, 2021 - 2033 (USD Million)
- Table 29 Germany Synthetic Fuels market estimates & forecasts by fuel, 2021 - 2033 (USD Million)
- Table 30 France Synthetic Fuels market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 31 France Synthetic Fuels market estimates & forecasts by feedstock, 2021 - 2033 (USD Million)
- Table 32 France Synthetic Fuels market estimates & forecasts by fuel, 2021 - 2033 (USD Million)
- Table 33 UK Synthetic Fuels market estimates & forecast, 2021 - 2033 (USD Million)
- Table 34 UK Synthetic Fuels market estimates & forecasts by feedstock, 2021 - 2033 (USD Million)
- Table 35 UK Synthetic Fuels market estimates & forecasts by fuel, 2021 - 2033 (USD Million)
- Table 36 Asia Pacific Synthetic Fuels market estimates & forecast, 2021 - 2033 (USD Million)
- Table 37 Asia Pacific Synthetic Fuels market estimates & forecasts by feedstock, 2021 - 2033 (USD Million)
- Table 38 Asia Pacific Synthetic Fuels market estimates & forecasts by fuel, 2021 - 2033 (USD Million)
- Table 39 China Synthetic Fuels market estimates & forecast, 2021 - 2033 (USD Million)
- Table 40 China Synthetic Fuels market estimates & forecasts by feedstock, 2021 - 2033 (USD Million)
- Table 41 China Synthetic Fuels market estimates & forecasts by fuel, 2021 - 2033 (USD Million)
- Table 42 Japan Synthetic Fuels market estimates & forecast, 2021 - 2033 (USD Million)
- Table 43 Japan Synthetic Fuels market estimates & forecasts by feedstock, 2021 - 2033 (USD Million)
- Table 44 Japan Synthetic Fuels market estimates & forecasts by fuel, 2021 - 2033 (USD Million)
- Table 45 South Korea Synthetic Fuels market estimates & forecast, 2021 - 2033 (USD Million)
- Table 46 South Korea Synthetic Fuels market estimates & forecasts by feedstock, 2021 - 2033 (USD Million)
- Table 47 South Korea Synthetic Fuels market estimates & forecasts by fuel, 2021 - 2033 (USD Million)
- Table 48 India Synthetic Fuels market estimates & forecast, 2021 - 2033 (USD Million)
- Table 49 India Synthetic Fuels market estimates & forecasts by feedstock, 2021 - 2033 (USD Million)
- Table 50 India Synthetic Fuels market estimates & forecasts by fuel, 2021 - 2033 (USD Million)
- Table 51 Latin America Synthetic Fuels Market Estimates & forecasts, 2021 - 2033 (USD Million)
- Table 52 Latin America Synthetic Fuels market estimates & forecasts by feedstock, 2021 - 2033 (USD Million)
- Table 53 Latin America Synthetic Fuels market estimates & forecasts by fuel, 2021 - 2033 (USD Million)
- Table 54 Brazil Synthetic Fuels market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 55 Brazil Synthetic Fuels market estimates & forecasts by feedstock, 2021 - 2033 (USD Million)
- Table 56 Brazil Synthetic Fuels market estimates & forecasts by fuel, 2021 - 2033 (USD Million)
- Table 57 Middle East & Africa Synthetic Fuels market estimates & forecast, 2021 - 2033 (USD Million)
- Table 58 Middle East & Africa Synthetic Fuels market estimates & forecasts by feedstock, 2021 - 2033 (USD Million)
- Table 59 Middle East & Africa Synthetic Fuels market estimates & forecasts by fuel, 2021 - 2033 (USD Million)
- Table 60 Saudi Arabia Synthetic Fuels market estimates & forecasts, 2021 - 2033 (USD Million)
- Table 61 Saudi Arabia Synthetic Fuels market estimates & forecasts by feedstock, 2021 - 2033 (USD Million)
- Table 62 Saudi Arabia Synthetic Fuels market estimates & forecasts by fuel, 2021 - 2033 (USD Million)
- Table 63 UAE Synthetic Fuels market estimates & forecast, 2021 - 2033 (USD Million)
- Table 64 UAE Synthetic Fuels market estimates & forecasts by feedstock, 2021 - 2033 (USD Million)
- Table 65 UAE Synthetic Fuels market estimates & forecasts by fuel, 2021 - 2033 (USD Million)
List of Figures
- Fig. 1 Market segmentation
- Fig. 2 Information procurement
- Fig. 3 Data analysis models
- Fig. 4 Market formulation and validation
- Fig. 5 Data validating & publishing
- Fig. 6 Market snapshot
- Fig. 7 Segmental outlook - Feedstock & Fuel
- Fig. 8 Competitive Outlook
- Fig. 9 Synthetic fuels market outlook, 2021 - 2033 (USD Million)
- Fig. 10 Value chain analysis
- Fig. 11 Market dynamics
- Fig. 12 Porter's Analysis
- Fig. 13 PESTEL Analysis
- Fig. 14 Synthetic Fuels market, by feedstock: Key takeaways
- Fig. 15 Synthetic Fuels market, by feedstock: Market share, 2024 & 2033
- Fig. 16 Synthetic Fuels market, by fuel: Key takeaways
- Fig. 17 Synthetic Fuels market, by fuel: Market share, 2024 & 2033
- Fig. 18 Synthetic Fuels market: Regional analysis, 2024 & 2033
- Fig. 19 Synthetic Fuels market, by region: Key takeaways
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