SYNTHETIC FUEL MARKET ANALYSIS

Synthetic Fuel Market, By Feedstock (Coal, Natural Gas, Biomass, Others), By Production Process (Fischer-Tropsch Synthesis, Methanol to Gasoline (MTG), Direct Coal Liquefaction, Indirect Coal Liquefaction, Pyrolysis), By End-use Application (Transportation Fuels, Chemical Feedstock, Power Generation, Residential Heating, Others), By Environmental Impact (Carbon-Neutral/Capture Technologies, Low Carbon, Conventional), By Market Maturity (Established, Emerging, Experimental), By Geography (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)

Global Synthetic Fuel Market- Recent Developments

New Product Launches

In 2021, (world's largest publicly traded international oil and gas company) launched its EcoSynthesis Fuel, a synthetic fuel made from renewable biomass. EcoSynthesis Fuel is carbon neutral, and can be used in existing vehicles without any modifications.
In 2022, Sasol (Integrated energy and chemical company) launched its Synfuels, a range of synthetic fuels made from coal and gas. Synfuels are cleaner-burning than traditional fossil fuels, and can be used in a variety of applications including transportation, power generation, and industrial processes.
In 2023, .launched its Green Ammonia-to-Liquids (GAL) technology that can be used to produce synthetic fuels from renewable energy sources. GAL technology is said to be more efficient and cost-effective than other methods of producing synthetic fuels.

Acquisition and Partnerships

In 2022, ExxonMobil acquired Clean Energy Fuels, a leading provider of natural gas and hydrogen refueling infrastructure. This acquisition will help ExxonMobil to expand its presence in the renewable fuels market.
In 2021, Shell (British multinational oil and gas company) acquired Velocys, a company that develops and licenses technology for converting biomass into synthetic fuels. This acquisition will help Shell to develop its own synthetic fuel production capacity.
In 2020, Air Liquide (A world leader in gases, technologies and services for Industry and Health) and TotalEnergies (French multinational integrated energy and petroleum company) formed a joint venture to develop and commercialize synthetic fuels. This joint venture will combine the expertise of two leading energy companies to accelerate the development of this promising technology.