Market key trends:
One of the major trends driving the growth of synthetic fuel market is the increasing focus on finding alternatives to fossil fuels to reduce carbon emissions. Synthetic fuels can be produced from a variety of feedstock including coal, natural gas and biomass through Fischer–Tropsch process. They provide lower carbon footprint compared to conventional fuels as the carbon released during combustion is recycled from the atmosphere. Additionally, synthetic fuels are fungible with existing transportation fuel infrastructure and have high energy density suitable for use in automotive and aviation sectors. This is encouraging OEMs and governments to support the development of synthetic fuel industry.

Key Takeaways

The Global Synthetic Fuel Market Size is expected to witness high growth, exhibiting CAGR of 19.8% over the forecast period, due to increasing energy security concerns. Countries are promoting the development and use of alternative fuels to reduce dependence on imported oil.

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