Coal Market| Demand for CTL Fuel to Replace Diesel and Petrol in $366.7 Billion Market
LONDON, Nov. 27, 2019 /PRNewswire/ -- The demand for coal-to-liquid (CTL) fuel as an alternative for diesel and petrol is increasing. CTL is a type of synthetic fuel or synfuel that is produced by isolating the hydrocarbons in fossil fuels. In CTL production, syngas is prepared from crushed coal with steam and oxygen and then it is run through the Fischer-Tropsch reaction to create liquid fuels. CTL fuel is a cleaner alternative than petrol or diesel with virtually zero emissions of hazardous air pollutants, criteria pollutants, and mercury. CTL is 30% cleaner than petrol in cars. In addition to these benefits of CTL, the fuel does not require any modifications in a car engine to use liquid fuel. CTL is growing in coal-rich countries despite high investment costs. In South Africa, liquid fuel has been in production since 1955. In 2018, Sasol, a South African company, had three CTL plants that produced more than 160,000 barrels of liquid fuel per day from coal, providing for 30% of South Africa's transport fuel requirements. In India, CTL plants can be an alternative source of liquid fuel taking into account the country's coal reserves. Request A Sample @ https://www.thebusinessresearchcompany.com/sample.aspx?id=810&type=smp
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Clean Coal Technology
Coal producing companies are increasingly using clean coal technologies to increase the efficiency of power production and remove or reduce pollutant emissions in the atmosphere. Clean coal technologies are a collection of technologies developed to lessen negative environmental impacts of coal energy generation to mitigate worldwide climate change. Techniques used by clean coal technologies include chemically washing minerals and impurities from the coal, gasification, improved technology of treating flue gases to remove pollutants to improve efficiency, carbon capture and storage technologies to capture the carbon dioxide from the flue gas, and dewatering lower rank coals (brown coals) to improve the calorific value and the efficiency of conversion into electricity. In 2017, the U.S. NRG Energy and JX Nippon Oil & Gas Exploration Corp's Petra Nova project started using its carbon capture and storage technology as well as an advanced amine-based carbon capture process.
Environmental Impacts Of Coal Hinder The Coal Market's Growth
The global coal market (https://www.thebusinessresearchcompany.com/report/coal-market) is expected to slightly decline from $366.7 billion in 2018 to around $338 billion in 2022 at an annual growth rate of -2.0%. Negative environmental impacts of coal will push coal's end users to shift to alternative sources going forward. Coal-fired power plants are the largest individual sources of climate pollution. They are globally responsible for more than 70% of CO2 emissions in the power generation industry; this is expected to restrain the growth of coal mines. Coal burning also leads to the death of about 3.5 million people annually from air pollution. According to the International Monetary Fund, global coal's combined external costs and damages to health, land, water and nature are estimated at about EUR 3 trillion ($3.3 trillion) annually, which is equivalent to 4% of the global GDP. The environmental impacts of coal will act as a restraint on the coal market.
Policy Changes To Encourage Coal Mining
The coal mining industry is expected to be positively affected by recent policy changes. In the USA, for instance, in 2017, the US administration withdrew from the Paris Agreement on climate change. It also repealed the previous administration's plan to limit carbon emissions, scaled back other coal regulations, and ended a moratorium on issuing leases to extract coal from federal lands. As a result of the policy changes, coal production in the USA increased by 3.6% in 2017. This change in administration and environment policies is expected to drive the global coal market in the forecast period.
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