Synthetic Fuels Market by Type, Refining Method, Raw Material, Application, End-user

List of Tables

[197 Pages Report] The Synthetic Fuels Market size was estimated at USD 46.53 billion in 2023 and expected to reach USD 49.10 billion in 2024, at a CAGR 5.79% to reach USD 69.02 billion by 2030.

Global Synthetic Fuels Market

KEY MARKET STATISTICS
Base Year [2023]	USD 46.53 billion
Estimated Year [2024]	USD 49.10 billion
Forecast Year [2030]	USD 69.02 billion
CAGR (%)	5.79%

Synthetic fuels are liquid fuels with identical properties to fossil fuels but are created artificially and can be used the same way fossil fuels are used worldwide. Synthetic fuel is generally obtained from a mixture of hydrogen and carbon monoxide, which are synthetic gases. Rapid surges in fossil fuel prices worldwide can create demand for synthetic fuels. Moreover, increasing environmental issues and stringent regulations on carbon emissions propel the market expansion. The higher cost associated with the production and distribution of synthetic fuel than conventional fuels remains a significant restraint for market growth. Pollution caused by manufacturing processes of synthetic fuels might hinder market developments. Ongoing research activities to reduce oil dependence and integrate synthetic fuels with the existing transportation infrastructure provide lucrative industry growth opportunities.

Regional Insights

With the increase in oil prices, synthetic fuels have become more practical. The U.S. government has undertaken several projects to look into the process. In particular, the Defense Department has studied synthetic fuels to supply transportation fuel without depending on overseas suppliers. Moreover, there is growing investment in the public and private sectors for promoting synthetic fuel manufacturing and usage in North America. In Europe, synthetic fuel is gaining traction owing to the developed automotive sector and growing interest in reducing conventional fuel consumption and greenhouse gas emissions. The Asia-Pacific has witnessed significant growth in the synthetic fuel market owing to the clean energy initiative and efforts to reduce carbon emissions. Several economies, including India, China, Japan, South Korea, and Australia, actively invest in synthetic fuel technologies.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Synthetic Fuels Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Synthetic Fuels Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Synthetic Fuels Market, highlighting leading vendors and their innovative profiles. These include Abu Dhabi National Oil Company, BP PLC, Celanese Corporation, Chevron Corporation, China National Petroleum Corporation, Dakota Gasification Company, DGFuels, LLC, Dr. Ing. h.c. F. Porsche AG, Ekobenz Sp. z o. o., ENEOS Group, Exxon Mobil Corporation, HIF Global, Honeywell International Inc., Idemitsu Kosan Co.,Ltd., Indian Oil Corporation Limited, INERATEC GmbH, Linde PLC, Maire Tecnimont S.p.A., Mitsubishi Corporation, Neste Corporation, Norsk e-Fuel AS, ORLEN S.A., Osaka Gas Co., Ltd., PetroSA, Phillips 66, QatarEnergy, RWE AG, Sasol Limited, Saudi Arabian Oil Company, Shell PLC, Siemens Energy AG, Sumitomo Heavy Industries, Ltd., Sunfire GmbH, Synhelion SA, Synthesis Energy Systems, Inc., Toho Gas Co., Ltd., Tokyo Gas Co., Ltd., Topsoe A/S, TotalEnergies SE, Upcycle Technologies, Yokogawa Electric Corporation, and Zero Petroleum Limited.

Market Segmentation & Coverage

This research report categorizes the Synthetic Fuels Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Biomass to Liquid Fuel
- Gas to Liquid Fuel
- Methanol to Liquid Fuel
- Power to Liquid Fuel
  - Sun to Liquid Fuel
  - Wind to Liquid Fuel
Refining Method
- Coal Liquefaction
- Fischer-Tropsch Conversion
- Methanol to Gasoline Conversion
Raw Material
- Biomass
- Coal
- Natural Gas
Application
- Diesel
- Gasoline
- Kerosene
End-user
- Industrial
- Manufacturing
- Transportation
Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam
- Europe, Middle East & Africa
  - Denmark
  - Egypt
  - Finland
  - France
  - Germany
  - Israel
  - Italy
  - Netherlands
  - Nigeria
  - Norway
  - Poland
  - Qatar
  - Russia
  - Saudi Arabia
  - South Africa
  - Spain
  - Sweden
  - Switzerland
  - Turkey
  - United Arab Emirates
  - United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Synthetic Fuels Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Synthetic Fuels Market?

3. What are the technology trends and regulatory frameworks in the Synthetic Fuels Market?

4. What is the market share of the leading vendors in the Synthetic Fuels Market?

5. Which modes and strategic moves are suitable for entering the Synthetic Fuels Market?

Product Code: MRR-2E76C3E47F52

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Synthetic Fuels Market, by Region

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing focus on decarbonization and transition to renewable energy sources
  - 5.1.1.2. Government support for the development of e-fuels and stringent regulations on carbon emissions associated with fossil fuels
- 5.1.2. Restraints
  - 5.1.2.1. High cost associated with the production of synthetic fuels
- 5.1.3. Opportunities
  - 5.1.3.1. Advancements in technology for producing sustainable fuels
  - 5.1.3.2. Growing integration of synthetic fuels across the aviation sector
- 5.1.4. Challenges
  - 5.1.4.1. Pollution and technical issues with manufacturing processes of synthetic fuels
5.2. Market Segmentation Analysis
- 5.2.1. Raw Material: Increasing demand for synthetic fuel made from Coal, owing to its abundant availability
- 5.2.2. Refining Method: Wider adoption of fischer-tropsch synthesis for relatively pure hydrogen output
- 5.2.3. Type: Growing popularity of power-to-liquid fuel owing to its advantages of low consumption of water and land
- 5.2.4. Application: Rising use of synthetic kerosene for sustainable flying
- 5.2.5. End-user: Growing utilization of synthetic fuel in the transport sector to reduce reliance on fossil fuels
5.3. Market Trend Analysis
- 5.3.1. Expanding adoption of synthetic fuels along with government initiatives for reducing GHG emissions in the Americas
- 5.3.2. Increasing investment in improving production of synthetic fuels coupled with the high availability of raw materials in the APAC region
- 5.3.3. Increasing partnership among synthetic fuel manufacturers to expand their production capabilities coupled with a robust foothold of significant companies in the EMEA region
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework

6. Synthetic Fuels Market, by Type

6.1. Introduction
6.2. Biomass to Liquid Fuel
6.3. Gas to Liquid Fuel
6.4. Methanol to Liquid Fuel
6.5. Power to Liquid Fuel
- 6.6.1. Sun to Liquid Fuel
- 6.6.2. Wind to Liquid Fuel

7. Synthetic Fuels Market, by Refining Method

7.1. Introduction
7.2. Coal Liquefaction
7.3. Fischer-Tropsch Conversion
7.4. Methanol to Gasoline Conversion

8. Synthetic Fuels Market, by Raw Material

8.1. Introduction
8.2. Biomass
8.3. Coal
8.4. Natural Gas

9. Synthetic Fuels Market, by Application

9.1. Introduction
9.2. Diesel
9.3. Gasoline
9.4. Kerosene

10. Synthetic Fuels Market, by End-user

10.1. Introduction
10.2. Industrial
10.3. Manufacturing
10.4. Transportation

11. Americas Synthetic Fuels Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Synthetic Fuels Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Synthetic Fuels Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. FPNV Positioning Matrix
14.2. Market Share Analysis, By Key Player
14.3. Competitive Scenario Analysis, By Key Player
- 14.3.1. Merger & Acquisition
  - 14.3.1.1. Vertimass EMEA Signs Agreement to Acquire European Renewable Fuel Company Ekobenz
- 14.3.2. Agreement, Collaboration, & Partnership
  - 14.3.2.1. Aramco and ENOWA to Develop E-Fuel Demonstration Plant
  - 14.3.2.2. ORLEN Partners With Yokogawa to Develop Technology for Sustainable Aviation Fuel Production
  - 14.3.2.3. Rolls-Royce and Zero Petroleum Join Forces to Develop Sustainable Future
  - 14.3.2.4. Intertek and Zero Petroleum Partner to Accelerate the Transition to Synthetic Fuels
  - 14.3.2.5. Babcock and Zero to Test, Develop and Produce a Synthetic Drop-in Fuel
- 14.3.3. New Product Launch & Enhancement
  - 14.3.3.1. Successful Production of FT Synthetic Fuel from Synthesis Gas with an Admixture of 20% Carbon Dioxide
- 14.3.4. Investment & Funding
  - 14.3.4.1. Aramco Plans to Produce Synthetic Fuels by 2025 at Test Plants
- 14.3.5. Award, Recognition, & Expansion
  - 14.3.5.1. Zero to Open a First Fully Featured Synthetic Fuel Facility in June Alongside Accelerated International Growth Plan

15. Competitive Portfolio

15.1. Key Company Profiles
- 15.1.1. Abu Dhabi National Oil Company
- 15.1.2. BP PLC
- 15.1.3. Celanese Corporation
- 15.1.4. Chevron Corporation
- 15.1.5. China National Petroleum Corporation
- 15.1.6. Dakota Gasification Company
- 15.1.7. DGFuels, LLC
- 15.1.8. Dr. Ing. h.c. F. Porsche AG
- 15.1.9. Ekobenz Sp. z o. o.
- 15.1.10. ENEOS Group
- 15.1.11. Exxon Mobil Corporation
- 15.1.12. HIF Global
- 15.1.13. Honeywell International Inc.
- 15.1.14. Idemitsu Kosan Co.,Ltd.
- 15.1.15. Indian Oil Corporation Limited
- 15.1.16. INERATEC GmbH
- 15.1.17. Linde PLC
- 15.1.18. Maire Tecnimont S.p.A.
- 15.1.19. Mitsubishi Corporation
- 15.1.20. Neste Corporation
- 15.1.21. Norsk e-Fuel AS
- 15.1.22. ORLEN S.A.
- 15.1.23. Osaka Gas Co., Ltd.
- 15.1.24. PetroSA
- 15.1.25. Phillips 66
- 15.1.26. QatarEnergy
- 15.1.27. RWE AG
- 15.1.28. Sasol Limited
- 15.1.29. Saudi Arabian Oil Company
- 15.1.30. Shell PLC
- 15.1.31. Siemens Energy AG
- 15.1.32. Sumitomo Heavy Industries, Ltd.
- 15.1.33. Sunfire GmbH
- 15.1.34. Synhelion SA
- 15.1.35. Synthesis Energy Systems, Inc.
- 15.1.36. Toho Gas Co., Ltd.
- 15.1.37. Tokyo Gas Co., Ltd.
- 15.1.38. Topsoe A/S
- 15.1.39. TotalEnergies SE
- 15.1.40. Upcycle Technologies
- 15.1.41. Yokogawa Electric Corporation
- 15.1.42. Zero Petroleum Limited
15.2. Key Product Portfolio

16. Appendix

16.1. Discussion Guide
16.2. License & Pricing