Synthetic Fuel Market Surges with Green Energy Push, Estimated to Grow at 25.5% CAGR by 2035

Synthetic fuel market is redesigning the fuel mix as global trade shifts toward low-emission alternatives.

CA, UNITED STATES, August 26, 2025 /EINPresswire.com/ -- Synthetic fuel market is expected to grow at a CAGR of 25.5% during the forecast period (2025-2035). The push for decarbonization and carbon neutrality in several industries, such as transportation, automotive, and heavy industry, is fueling demand for synthetic fuels. Synthetic fuels provide a way to decrease emissions and transition away from fossil fuels, which propels market growth.

Advanced processes such as Fischer-Tropsch synthesis and methanol synthesis are utilized to produce synthetic fuels, often called synfuels or e-fuels, from carbon-based feedstocks such as natural gas, coal, and biomass. For instance, in August 2024, the Ministry of Coal and the Ministry of Power & Natural Gas signed a historic joint venture agreement between two prominent Maharatna CPSEs, Coal India Ltd. (CIL) and GAIL (India) Ltd. (GAIL). The agreement is a significant step towards setting up a Coal to Synthetic Natural Gas (SNG) plant by utilizing surface coal gasification (SCG) technology.

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Regional Outlook

Europe Dominated the Synthetic Fuel Market

Europe led the synthetic fuel market due to robust policy initiatives, technological advancements, and massive investments to fulfill ambitious decarbonization and carbon neutrality goals across major industries. According to the European Commission, their goal of climate neutrality by 2050 supported by the European Climate Law and the Fit for 55 Package, along with its 2030 target for emissions decline, is directly related to the development of the synthetic fuels market. Also, the ReFuelEU Aviation regulation, a part of the EU's Fit for 55 Package, mandates a steady increase in the use of Sustainable Aviation Fuels (SAF) at EU airports starting with at least a 2% minimum in 2025 and increasing up to 70% by 2050, in order to decrease aviation emissions.

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Market Players Outlook

The major companies operating in the global synthetic fuel market include Exxon Mobil Corp., Neste Corp., Sasol, Shell plc, and TotalEnergies SE, among others. Market players are leveraging partnerships, collaborations, mergers, and acquisitions to expand their businesses and develop innovative products, thereby maintaining their market positioning.

Recent Developments

• In May 2025, Rivan Industries raised $13.4 million in a Plural-led funding round to drive the development of synthetic fuel production. The investment will be used to continue R&D work on Rivan's electrolyser, direct air capture (DAC), Sabatier reactor systems, and to upscale its pilot facility to 1MW.
• In February 2025, Biomass, the European Space Agency (ESA) built satellite constructed by Airbus, has left Toulouse and is in transit to launch at Kourou, French Guiana. Biomass is part of an ESA’s Earth Explorer mission and will be the first satellite to utilize a P-band synthetic aperture radar (SAR) to assess forest biomass. Operating at an altitude of 666 kilometers above the Earth, the satellite will make very precise data to assess carbon stocks and fluxes within tropical, temperate, and boreal forests.

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Some of the Key Companies in the Synthetic Fuel Market include-

• Air Products and Chemicals, Inc.
• Carbon Engineering Ltd.
• Exxon Mobil Corp.
• Gevo, Inc.
• INERATEC GmbH
• Occidental Petroleum Corporation
• Johnson Matthey Plc
• Neste Corp.
• Raven SR, Inc.
• Red Rock Biofuels
• Rentech, Inc.
• Repsol
• Royal Dutch Shell Plc.
• Sasol
• SG Preston Company
• Shell plc
• Sunfire GmbH
• Swedish Biofuels
• Topsoe A/S
• TotalEnergies SE
• Virent, Inc.

Synthetic Fuel Market Segmentation Analysis

Global Synthetic Fuel Market by Raw Material
• Coal
• Natural gas
• Biomass

Global Synthetic Fuel Market by Type
• Coal-to-Liquid (CTL)
• Biomass-to-Liquid (BTL)
• Gas-to-Liquid (GTL)
• Shale Oil
• Extra-Heavy Oil

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Global Synthetic Fuel Market by Application
• Transportation
• Aviation
• Power generation
• Industrial

Regional Analysis
• North America
o United States
o Canada
• Europe
o UK
o Germany
o Italy
o Spain
o France
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o South Korea
o ASEAN Economies (Singapore, Thailand, Vietnam, Indonesia, and Other)
o Australia and New Zealand
o Rest of Asia-Pacific
• Rest of the World
o Latin America
o Middle East and Africa

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Anurag Tiwari
Orion Market Research Pvt Ltd
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