Product Code: 12815
Market Overview
The synthetic fuels market is projected to yield around USD 48.6 billion in revenue by 2023. Moreover, between 2024 and 2030, it is anticipated to experience a compound annual growth rate (CAGR) of 5.6%, resulting in a market value of approximately USD 70.6 billion by 2030.
The development of these kinds of energy technologies can account for the carbon neutrality or low carbonation that is crucial in the reduction of air pollution thus leading to improved air quality. Specifically, the increase in the number of government initiatives that are aimed at the reduction of the level of greenhouse gas emissions is one of the facts that promote the market conditions. Various uses of fossil fuels include coal for electricity generation (about 40% of electricity produced worldwide is coal), transportation, and residential purposes mainly for cooking (more than half of households globally depend on fossil sources).
In 2015, the role of the United Nations was to come up with its sustainable development goals, the SDGs, which are the 17 specific goals that need to be accomplished by the year 2030 by all the member countries. The SDGs (i.e. 7 and 12) (Affordable and Clean Energy and Ensuring Sustainable Consumption and Production Patterns) address the synthetic fuel-related two issues directly. Each country trying to be progressive in terms of carbon footprint controlling it will go its way.
Key Insights
Transportation holds a 40% market share in the semiconductor chemicals market in 2023.
Electric vehicles have created a boom in the industry but the transportation sector continues to widely use fossil fuels.
Internal combustion engines are beneficial in heavy vehicles, sports cars, and territories without sufficient electricity supply.
The industry of aviation has to depend on liquid fuels because it cannot entirely rely on electricity.
For the year 2021, more than one-third of the global carbon dioxide emissions were recorded by the transport sector according to the International Energy Agency.
The industrial sector holds a significant share of the semiconductor chemicals market.
In 2022, the CO2 emissions of the industrial sector were 9.0 gigatonnes (Gt).
Electricity and heat generation contributed 15.83 billion tonnes of emissions within this sector.
Fossil fuels are widely used in industries as both energy sources and raw materials.
Asia-Pacific holds the largest market share in 2023, accounting for around 50%.
Many developing economies in Asia are highly polluted, prompting efforts to reduce greenhouse emissions through regulations.
India has set an NDC goal to reduce its carbon footprint by 45% until its year 2030 target.
China is leading the market of e-fuels in APAC, secondly, Japan and later India, as it possesses a large carbon footprint.
Technological advancement is expected to be invested fast in North America, leading to the growth of synthetic fuel production industries.
The EU is estimated to have a share of about 30% by 2030 through the increasing use of competitor products that no longer emit carbon or do so in small quantities thanks to an array of regulatory initiatives such as the EU's ban on greenhouse-gas emitting cars.
The implementation of recycling programs and biofuel production from mixed municipal waste to serve as feedstock for the production of e-fuels is driving the expansion of e-fuel consumption in Europe.
The brand Audi embodies power-to-gas e-fuel production technology in Germany as part of the targeted decarbonization of the transport system and decreases in Europe's petroleum consumption.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segments
- 1.4.1. Market size breakdown, by type
- 1.4.2. Market size breakdown, by raw material
- 1.4.3. Market size breakdown, by application
- 1.4.4. Market size breakdown, by end use
- 1.4.5. Market size breakdown, by region
- 1.4.6. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.5.1. Volume
- 1.5.2. Value
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Market Indicators
Chapter 5. Industry Outlook
- 5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
- 5.2. Impact of COVID-19
- 5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes
Chapter 6. Global Market
- 6.1. Overview
- 6.2. Market Volume, by Type (2017-2030)
- 6.3. Market Revenue, by Type (2017-2030)
- 6.4. Market Volume, by Raw Material (2017-2030)
- 6.5. Market Revenue, by Raw Material (2017-2030)
- 6.6. Market Volume, by Application (2017-2030)
- 6.7. Market Revenue, by Application (2017-2030)
- 6.8. Market Volume, by End Use (2017-2030)
- 6.9. Market Revenue, by End Use (2017-2030)
- 6.10. Market Volume, by Region (2017-2030)
- 6.11. Market Revenue, by Region (2017-2030)
Chapter 7. North America Market
- 7.1. Overview
- 7.2. Market Volume, by Type (2017-2030)
- 7.3. Market Revenue, by Type (2017-2030)
- 7.4. Market Volume, by Raw Material (2017-2030)
- 7.5. Market Revenue, by Raw Material (2017-2030)
- 7.6. Market Volume, by Application (2017-2030)
- 7.7. Market Revenue, by Application (2017-2030)
- 7.8. Market Volume, by End Use (2017-2030)
- 7.9. Market Revenue, by End Use (2017-2030)
- 7.10. Market Volume, by Country (2017-2030)
- 7.11. Market Revenue, by Country (2017-2030)
Chapter 8. Europe Market
- 8.1. Overview
- 8.2. Market Volume, by Type (2017-2030)
- 8.3. Market Revenue, by Type (2017-2030)
- 8.4. Market Volume, by Raw Material (2017-2030)
- 8.5. Market Revenue, by Raw Material (2017-2030)
- 8.6. Market Volume, by Application (2017-2030)
- 8.7. Market Revenue, by Application (2017-2030)
- 8.8. Market Volume, by End Use (2017-2030)
- 8.9. Market Revenue, by End Use (2017-2030)
- 8.10. Market Volume, by Country (2017-2030)
- 8.11. Market Revenue, by Country (2017-2030)
Chapter 9. APAC Market
- 9.1. Overview
- 9.2. Market Volume, by Type (2017-2030)
- 9.3. Market Revenue, by Type (2017-2030)
- 9.4. Market Volume, by Raw Material (2017-2030)
- 9.5. Market Revenue, by Raw Material (2017-2030)
- 9.6. Market Volume, by Application (2017-2030)
- 9.7. Market Revenue, by Application (2017-2030)
- 9.8. Market Volume, by End Use (2017-2030)
- 9.9. Market Revenue, by End Use (2017-2030)
- 9.10. Market Volume, by Country (2017-2030)
- 9.11. Market Revenue, by Country (2017-2030)
Chapter 10. LATAM Market
- 10.1. Overview
- 10.2. Market Volume, by Type (2017-2030)
- 10.3. Market Revenue, by Type (2017-2030)
- 10.4. Market Volume, by Raw Material (2017-2030)
- 10.5. Market Revenue, by Raw Material (2017-2030)
- 10.6. Market Volume, by Application (2017-2030)
- 10.7. Market Revenue, by Application (2017-2030)
- 10.8. Market Volume, by End Use (2017-2030)
- 10.9. Market Revenue, by End Use (2017-2030)
- 10.10. Market Volume, by Country (2017-2030)
- 10.11. Market Revenue, by Country (2017-2030)
Chapter 11. MEA Market
- 11.1. Overview
- 11.2. Market Volume, by Type (2017-2030)
- 11.3. Market Revenue, by Type (2017-2030)
- 11.4. Market Volume, by Raw Material (2017-2030)
- 11.5. Market Revenue, by Raw Material (2017-2030)
- 11.6. Market Volume, by Application (2017-2030)
- 11.7. Market Revenue, by Application (2017-2030)
- 11.8. Market Volume, by End Use (2017-2030)
- 11.9. Market Revenue, by End Use (2017-2030)
- 11.10. Market Volume, by Country (2017-2030)
- 11.11. Market Revenue, by Country (2017-2030)
Chapter 12. U.S. Market
- 12.1. Overview
- 12.2. Market Volume, by Type (2017-2030)
- 12.3. Market Revenue, by Type (2017-2030)
- 12.4. Market Volume, by Raw Material (2017-2030)
- 12.5. Market Revenue, by Raw Material (2017-2030)
- 12.6. Market Volume, by Application (2017-2030)
- 12.7. Market Revenue, by Application (2017-2030)
- 12.8. Market Volume, by End Use (2017-2030)
- 12.9. Market Revenue, by End Use (2017-2030)
Chapter 13. Canada Market
- 13.1. Overview
- 13.2. Market Volume, by Type (2017-2030)
- 13.3. Market Revenue, by Type (2017-2030)
- 13.4. Market Volume, by Raw Material (2017-2030)
- 13.5. Market Revenue, by Raw Material (2017-2030)
- 13.6. Market Volume, by Application (2017-2030)
- 13.7. Market Revenue, by Application (2017-2030)
- 13.8. Market Volume, by End Use (2017-2030)
- 13.9. Market Revenue, by End Use (2017-2030)
Chapter 14. Germany Market
- 14.1. Overview
- 14.2. Market Volume, by Type (2017-2030)
- 14.3. Market Revenue, by Type (2017-2030)
- 14.4. Market Volume, by Raw Material (2017-2030)
- 14.5. Market Revenue, by Raw Material (2017-2030)
- 14.6. Market Volume, by Application (2017-2030)
- 14.7. Market Revenue, by Application (2017-2030)
- 14.8. Market Volume, by End Use (2017-2030)
- 14.9. Market Revenue, by End Use (2017-2030)
Chapter 15. France Market
- 15.1. Overview
- 15.2. Market Volume, by Type (2017-2030)
- 15.3. Market Revenue, by Type (2017-2030)
- 15.4. Market Volume, by Raw Material (2017-2030)
- 15.5. Market Revenue, by Raw Material (2017-2030)
- 15.6. Market Volume, by Application (2017-2030)
- 15.7. Market Revenue, by Application (2017-2030)
- 15.8. Market Volume, by End Use (2017-2030)
- 15.9. Market Revenue, by End Use (2017-2030)
Chapter 16. U.K. Market
- 16.1. Overview
- 16.2. Market Volume, by Type (2017-2030)
- 16.3. Market Revenue, by Type (2017-2030)
- 16.4. Market Volume, by Raw Material (2017-2030)
- 16.5. Market Revenue, by Raw Material (2017-2030)
- 16.6. Market Volume, by Application (2017-2030)
- 16.7. Market Revenue, by Application (2017-2030)
- 16.8. Market Volume, by End Use (2017-2030)
- 16.9. Market Revenue, by End Use (2017-2030)
Chapter 17. Italy Market
- 17.1. Overview
- 17.2. Market Volume, by Type (2017-2030)
- 17.3. Market Revenue, by Type (2017-2030)
- 17.4. Market Volume, by Raw Material (2017-2030)
- 17.5. Market Revenue, by Raw Material (2017-2030)
- 17.6. Market Volume, by Application (2017-2030)
- 17.7. Market Revenue, by Application (2017-2030)
- 17.8. Market Volume, by End Use (2017-2030)
- 17.9. Market Revenue, by End Use (2017-2030)
Chapter 18. Spain Market
- 18.1. Overview
- 18.2. Market Volume, by Type (2017-2030)
- 18.3. Market Revenue, by Type (2017-2030)
- 18.4. Market Volume, by Raw Material (2017-2030)
- 18.5. Market Revenue, by Raw Material (2017-2030)
- 18.6. Market Volume, by Application (2017-2030)
- 18.7. Market Revenue, by Application (2017-2030)
- 18.8. Market Volume, by End Use (2017-2030)
- 18.9. Market Revenue, by End Use (2017-2030)
Chapter 19. Japan Market
- 19.1. Overview
- 19.2. Market Volume, by Type (2017-2030)
- 19.3. Market Revenue, by Type (2017-2030)
- 19.4. Market Volume, by Raw Material (2017-2030)
- 19.5. Market Revenue, by Raw Material (2017-2030)
- 19.6. Market Volume, by Application (2017-2030)
- 19.7. Market Revenue, by Application (2017-2030)
- 19.8. Market Volume, by End Use (2017-2030)
- 19.9. Market Revenue, by End Use (2017-2030)
Chapter 20. China Market
- 20.1. Overview
- 20.2. Market Volume, by Type (2017-2030)
- 20.3. Market Revenue, by Type (2017-2030)
- 20.4. Market Volume, by Raw Material (2017-2030)
- 20.5. Market Revenue, by Raw Material (2017-2030)
- 20.6. Market Volume, by Application (2017-2030)
- 20.7. Market Revenue, by Application (2017-2030)
- 20.8. Market Volume, by End Use (2017-2030)
- 20.9. Market Revenue, by End Use (2017-2030)
Chapter 21. India Market
- 21.1. Overview
- 21.2. Market Volume, by Type (2017-2030)
- 21.3. Market Revenue, by Type (2017-2030)
- 21.4. Market Volume, by Raw Material (2017-2030)
- 21.5. Market Revenue, by Raw Material (2017-2030)
- 21.6. Market Volume, by Application (2017-2030)
- 21.7. Market Revenue, by Application (2017-2030)
- 21.8. Market Volume, by End Use (2017-2030)
- 21.9. Market Revenue, by End Use (2017-2030)
Chapter 22. Australia Market
- 22.1. Overview
- 22.2. Market Volume, by Type (2017-2030)
- 22.3. Market Revenue, by Type (2017-2030)
- 22.4. Market Volume, by Raw Material (2017-2030)
- 22.5. Market Revenue, by Raw Material (2017-2030)
- 22.6. Market Volume, by Application (2017-2030)
- 22.7. Market Revenue, by Application (2017-2030)
- 22.8. Market Volume, by End Use (2017-2030)
- 22.9. Market Revenue, by End Use (2017-2030)
Chapter 23. South Korea Market
- 23.1. Overview
- 23.2. Market Volume, by Type (2017-2030)
- 23.3. Market Revenue, by Type (2017-2030)
- 23.4. Market Volume, by Raw Material (2017-2030)
- 23.5. Market Revenue, by Raw Material (2017-2030)
- 23.6. Market Volume, by Application (2017-2030)
- 23.7. Market Revenue, by Application (2017-2030)
- 23.8. Market Volume, by End Use (2017-2030)
- 23.9. Market Revenue, by End Use (2017-2030)
Chapter 24. Brazil Market
- 24.1. Overview
- 24.2. Market Volume, by Type (2017-2030)
- 24.3. Market Revenue, by Type (2017-2030)
- 24.4. Market Volume, by Raw Material (2017-2030)
- 24.5. Market Revenue, by Raw Material (2017-2030)
- 24.6. Market Volume, by Application (2017-2030)
- 24.7. Market Revenue, by Application (2017-2030)
- 24.8. Market Volume, by End Use (2017-2030)
- 24.9. Market Revenue, by End Use (2017-2030)
Chapter 25. Mexico Market
- 25.1. Overview
- 25.2. Market Volume, by Type (2017-2030)
- 25.3. Market Revenue, by Type (2017-2030)
- 25.4. Market Volume, by Raw Material (2017-2030)
- 25.5. Market Revenue, by Raw Material (2017-2030)
- 25.6. Market Volume, by Application (2017-2030)
- 25.7. Market Revenue, by Application (2017-2030)
- 25.8. Market Volume, by End Use (2017-2030)
- 25.9. Market Revenue, by End Use (2017-2030)
Chapter 26. Saudi Arabia Market
- 26.1. Overview
- 26.2. Market Volume, by Type (2017-2030)
- 26.3. Market Revenue, by Type (2017-2030)
- 26.4. Market Volume, by Raw Material (2017-2030)
- 26.5. Market Revenue, by Raw Material (2017-2030)
- 26.6. Market Volume, by Application (2017-2030)
- 26.7. Market Revenue, by Application (2017-2030)
- 26.8. Market Volume, by End Use (2017-2030)
- 26.9. Market Revenue, by End Use (2017-2030)
Chapter 27. South Africa Market
- 27.1. Overview
- 27.2. Market Volume, by Type (2017-2030)
- 27.3. Market Revenue, by Type (2017-2030)
- 27.4. Market Volume, by Raw Material (2017-2030)
- 27.5. Market Revenue, by Raw Material (2017-2030)
- 27.6. Market Volume, by Application (2017-2030)
- 27.7. Market Revenue, by Application (2017-2030)
- 27.8. Market Volume, by End Use (2017-2030)
- 27.9. Market Revenue, by End Use (2017-2030)
Chapter 28. U.A.E. Market
- 28.1. Overview
- 28.2. Market Volume, by Type (2017-2030)
- 28.3. Market Revenue, by Type (2017-2030)
- 28.4. Market Volume, by Raw Material (2017-2030)
- 28.5. Market Revenue, by Raw Material (2017-2030)
- 28.6. Market Volume, by Application (2017-2030)
- 28.7. Market Revenue, by Application (2017-2030)
- 28.8. Market Volume, by End Use (2017-2030)
- 28.9. Market Revenue, by End Use (2017-2030)
Chapter 29. Competitive Landscape
- 29.1. List of Market Players and their Offerings
- 29.2. Competitive Benchmarking of Key Players
- 29.3. Product Benchmarking of Key Players
- 29.4. Recent Strategic Developments
Chapter 30. Company Profiles
- 30.1. Sasol Limited
- 30.1.1. Business overview
- 30.1.2. Product and service offerings
- 30.1.3. Key financial summary
- 30.2. Shell Plc
- 30.2.1. Business overview
- 30.2.2. Product and service offerings
- 30.2.3. Key financial summary
- 30.3. Exxon Mobil Corporation
- 30.3.1. Business overview
- 30.3.2. Product and service offerings
- 30.3.3. Key financial summary
- 30.4. PetroChina Company Limited
- 30.4.1. Business overview
- 30.4.2. Product and service offerings
- 30.4.3. Key financial summary
- 30.5. Reliance Industries Ltd.
- 30.5.1. Business overview
- 30.5.2. Product and service offerings
- 30.5.3. Key financial summary
- 30.6. Indian Oil Corporation Ltd.
- 30.6.1. Business overview
- 30.6.2. Product and service offerings
- 30.6.3. Key financial summary
- 30.7. Robert Bosch GmbH
- 30.7.1. Business overview
- 30.7.2. Product and service offerings
- 30.7.3. Key financial summary
- 30.8. Red Rock Biofuels
- 30.8.1. Business overview
- 30.8.2. Product and service offerings
- 30.8.3. Key financial summary
- 30.9. Phillips 66 Company
- 30.9.1. Business overview
- 30.9.2. Product and service offerings
- 30.9.3. Key financial summary
- 30.10. Chevron Corporation
- 30.10.1. Business overview
- 30.10.2. Product and service offerings
- 30.10.3. Key financial summary
Chapter 31. Appendix
- 31.1. Abbreviations
- 31.2. Sources and References
- 31.3. Related Reports