Strong Growth Projected for Fischer-Tropsch Wax Market Through 2025
Fischer-Tropsch wax will continue to experience substantial growth in the North America region.
The global Fischer-Tropsch (FT) wax market is set to grow from its current market value of more than $750 million to over $1.2 billion by 2025, according to a recent research report by Global Market Insights, Inc. Rising demand for FT wax is attributed to factors such as low production efficiency from mineral- and petroleum-derived sources, increasing fuel prices, and declining output by refineries and blenders.
Increasing production of coal- and natural gas-derived products over conventional petroleum will support FT wax market growth. Favorable policies and implementation of advanced processing technologies in the U.S., China, and Germany that use coal reserves for producing FT wax are fueling industry development.