The global synthetic fuel market is anticipated to grow at a CAGR of 22.8% during the forecast period (2024-2031). The market is driven by factors such as growing government support and increasing collaboration between market players among others. For instance,
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.
To Request a Sample of our Report on Synthetic Fuel Market: https://www.omrglobal.com/request-sample/synthetic-fuel-market
Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By Raw material
- By Type
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- includes Sasol Limited, Reliance Industries Ltd., Exxon Mobil Corporation, and Robert Bosch GmbH among others.
Synthetic Fuel Market Report Segment
By Raw material
- Coal
- Natural gas
- Biomass
By Type
- Coal-to-Liquid (CTL)
- Biomass-to-Liquid (BTL)
- Gas-to-Liquid (GTL)
- Shale Oil
- Extra-Heavy Oil
By Application
- Transportation
- Aviation
- Power generation
- Industrial
A full Report of Synthetic Fuel Market is Available @ https://www.omrglobal.com/industry-reports/synthetic-fuel-market
Synthetic Fuel Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Air Products and Chemicals, Inc.
- Carbon Engineering Ltd.
- Gevo, Inc.
- INERATEC GmbH
- Occidental Petroleum Corporation
- johnson Matthey Plc
- Raven SR, Inc.
- Red Rock Biofuels
- Rentech, Inc.
- Repsol
- Royal Dutch Shell Plc.
- SG Preston Company
- Sunfire GmbH
- Swedish Biofuels
- Topsoe A/S
- TotalEnergies SE
- Virent, Inc.
Reasons to buy from us –
- We cover more than 15 major industries, further segmented into more than 90 sectors.
- More than 120 countries are for analysis.
- Over 100+ paid data sources mined for investigation.
- Our expert research analysts answer all your questions before and after purchasing your report.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/synthetic-fuel-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 7803040404