Global Synthetic Fuels Market to Soar to $70.1 Billion by 2030, Driven by Rising Investments and Diversification in Primary Energy Mix - ResearchAndMarkets.com
The global synthetic fuels market is poised for substantial growth, projected to reach USD 70.1 billion by 2030 from USD 48.4 billion in 2023, reflecting a notable Compound Annual Growth Rate (CAGR) of 5.4%.
- The global synthetic fuels market is poised for substantial growth, projected to reach USD 70.1 billion by 2030 from USD 48.4 billion in 2023, reflecting a notable Compound Annual Growth Rate (CAGR) of 5.4%.
- GTL fuel is versatile and finds applications in transportation, power generation, and heating, offering a cleaner energy option.
- Synthetic fuels play a pivotal role in the chemical sector, reducing greenhouse gas emissions and dependence on fossil fuels.
- In terms of applications, the gasoline segment secured the second-largest market share in synthetic fuels in 2022.