Global Syngas & Derivatives Market Share Is Expected to Grow At A CAGR Value Of Around 24.10% By 2028

29-Nov-2022 | Facts and Factors

According to Facts and Factors, the syngas & derivatives market size was worth 245,472.00 MWth in 2021 and is estimated to grow to 437,246.03 MWth by 2028, with a compound annual growth rate (CAGR) of approximately 10.10 percent over the forecast period. The report analyzes the syngas & derivatives market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the syngas & derivatives market.

Gases like synthetic gas, or syngas, are raw gases made from hydrocarbon feedstocks. They are composed primarily of hydrogen (H2) and carbon monoxide (CO), with secondary components including carbon dioxide (CO2) and methane (CH4). These two substances are combined and gasified to create syngas, which can be used for chemical reactions, power generation, and fuel manufacturing. It typically contains carbon because it is made from materials such as coal, petroleum, natural gas, and others. Syngas is the greatest substitute for creating liquid and gaseous fuel. Among other industries, syngas is used in chemicals, electricity generation, and liquid fuels.

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Browse the full “Syngas & Derivatives Market By Production Technology (Steam Reforming, Partial Oxidation, Autothermal Reforming, Biomass Gasification, Others (Plasma Gasification, Heat Exchange Reforming, Underground Coal Gasification)), By Gasifier Type (Fixed (Moving) Bed Gasifier, Entrained Flow Gasifier, Fluidized Bed Gasifier, Others (Plasma Arc Gasifier, Black Liquor Gasifier)), By Feedstock (Coal, Natural Gas, Petroleum Byproducts, Biomass/Waste, Others (Petcoke, Plastic Waste, Medical Waste)), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/syngas-and-derivatives-market

Due to environmental restrictions, the advent of clean technology, a fast expanding population, and soaring electricity demand, demand for syngas and derivatives has skyrocketed. Due to high pollution levels, governments in several countries are promoting clean technologies. The global market seems poised for strong expansion in light of these ideas and actions. Reducing reliance on fossil fuels is one of the main factors driving the global syngas and derivatives market. Players in the syngas and derivatives markets will probably gain from the growing usage of syngas as a liquid and gas replacement.

Syngas and derivatives are also in greater demand due to their expanding use across various sectors. It is significant to highlight that certain obstacle, such as expensive capital expenditures and the time required to set up the operation using high-tech gasification procedures, limit market growth. The plants must be built in locations where the feedstock is accessible throughout the year, which is another crucial consideration. The coronavirus pandemic also badly impacts the market for syngas and derivatives. Syngas and derivatives have seen negative growth due to a strict lockdown, suspended commercial and manufacturing operations, and nations placing significant transmission limits.

The syngas & derivatives market is segregated based on production technology, gasifier type, feedstock and region. Based on production technology, the market is divided into steam reforming, partial oxidation, autothermal reforming, biomass gasification, and others (plasma gasification, heat exchange reforming, and underground coal gasification). Among these, the biomass gasification segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period. Based on gasifier type, the market is classified into fixed (moving) bed gasifiers, entrained flow gasifiers, fluidized bed gasifiers, and others (plasma arc gasifier and black liquor gasifier). In 2021, the fixed (moving) bed gasifier category dominated the global market. Based on feedstock, the market is classified into coal, natural gas, petroleum byproducts, biomass/waste and others (petcoke, plastic waste, and medical waste). The coal segment dominated the market in 2021.

The syngas & derivatives market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. In 2021, the Asia Pacific dominated the global market for syngas & derivatives. Demand for syngas & derivatives will rise as the region's chemical, fuel, and electrical industries expand, particularly in China and India. Economies like China and India are the main producers of coal-derived syngas and their derivatives. As a result, the Asia Pacific coal segment expansion drives most of the syngas demand. Additionally, a developing energy sector, particularly in Japan, China, India, South Korea, and Taiwan, is anticipated to be beneficial for syngas and derivatives markets.

Report Scope

Report Attribute

Details

Market Size in 2021

245,472.00 MWth

Projected Market Size in 2028

437,246.03 MWth

CAGR Growth Rate

10.10% CAGR

Base Year

2021

Forecast Years

2022-2028

Key Market Players

Alphabet Sasol Limited, Haldor Topsoe A/S, Air Liquide S.A., Siemens AG, Air Products and Chemicals Inc., KBR Inc., Linde plc, BASF SE, TechnipFMC PLC, McDermott International Inc., Mitsubishi Heavy Industries Ltd., Chiyoda Corporation, Synthesis Energy Systems Inc., Yara International ASA, Methanex Corporation, CF Industries Holdings Inc., Dow Inc., John Wood Group PLC., and others.

Key Segment

By Production Technology, Gasifier Type, Feedstock, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa

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Key players in the syngas & derivatives market include Alphabet Sasol Limited, Haldor Topsoe A/S, Air Liquide S.A., Siemens AG, Air Products and Chemicals Inc., KBR Inc., Linde plc, BASF SE, TechnipFMC PLC, McDermott  International,  Inc., Mitsubishi Heavy Industries, Ltd., Chiyoda Corporation, Synthesis Energy Systems, Inc., Yara International ASA, Methanex Corporation, CF Industries Holdings, Inc., Dow Inc., and John Wood Group PLC.

Recent Development:

  • April 2019: Australian Future Energy Pty Ltd and Synthesis Energy Technologies LLC entered a technology purchase option agreement. Synthesis Energy Technologies LLC owns the SES gasification technology and related global business undertakings.
  • February 2019: New syngas production has begun at a Praxair facility in Geismar, Louisiana, a wholly owned subsidiary of Linde Plc.

Global Syngas & Derivatives Market is segmented as follows:

By Production Technology

  • Steam Reforming
  • Partial Oxidation
  • Autothermal Reforming
  • Biomass Gasification
  • Others (Plasma Gasification, Heat Exchange Reforming, and Underground Coal Gasification)

By Gasifier Type

  • Fixed (Moving) Bed Gasifier
  • Entrained Flow Gasifier
  • Fluidized Bed Gasifier
  • Others (Plasma Arc Gasifier and Black Liquor Gasifier)

By Feedstock

  • Coal
  • Natural Gas
  • Petroleum Byproducts
  • Biomass/Waste

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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