IMARC Group’s latest research report, titled “Syngas Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the syngas market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global syngas market size reached 218.9 MM Nm3/h in 2022. Looking forward, IMARC Group expects the market to reach 382.9 MM Nm3/h by 2028, exhibiting a growth rate (CAGR) of 9.5% during 2023-2028.
Syngas Market Overview:
Syngas, also known as synthetic gas, refers to a highly combustible gas mixture consisting of hydrogen, carbon monoxide and smaller quantities of carbon dioxide and other trace gases. It is produced through the pyrolysis or gasification of carbonaceous materials, such as biomass, waste products, coal, and petroleum. It can also be derived from the electrocatalytic reduction of carbon dioxide. Since syngas is rich in carbon, it is widely used to manufacture Synthetic Natural Gas (SNG), dimethyl ether, oxo-chemicals, hydrogen and ammonia or methanol for various industrial applications. Nowadays, it also finds extensive applications in the production of fertilizers, solvents, fuels and synthetic materials.
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Global Syngas Market Trends:
The increasing applications of syngas across various end use industries represent the primary factor driving the market growth. For instance, syngas is extensively used to generate SNG that is utilized in the form of Compressed Natural Gas (CNG) and Liquified Natural Gas (LNG) across the transportation sector.
Additionally, the rising usage of syngas as a fuel in power generation and internal combustion engines is another major growth-inducing factor. Besides this, the growing product adoption to manufacture diesel and gasoline, and the rising applications of syngas in waste management have augmented the product demand.
Furthermore, several key players are making heavy investments in integrated gasification combined cycle (IGCC) plants to enhance their power generation efficiency and environmental performance. Along with this, the development of the underground coal gasification (UGC) process to convert coal into syngas without the need for transporting feedstock to the gasification plants has propelled the market growth. Other factors, including the rising electricity and fuel demand, stringent government regulations, growing environmental concerns, and technological advancements, are also creating a favorable market outlook.
Key Players Included in Global Syngas Market Research Report:
- Air Products and Chemicals Inc.
- Air Liquide S.A.
- BASF SE
- BP PLC
- Royal Dutch Shell PLC
- Siemens AG
- The Linde Group
- General Electric Company
- Dakota Gasification Company
- SynGas Technology
- LLC
- Technip FMC PLC
- OXEA GmbH
- Yara International ASA
- John Wood Group PLC
- East China University of Science and Technology (ECUST)
Key Market Segmentation:
Market Breakup by Gasifier Type:
- Fixed Bed
- Entrained Flow
- Fluidized Bed
Market Breakup by Feed Stock:
- Coal
- Natural gas
- Petroleum
- Pet-Coke
- Biomass
- Waste
Market Breakup by Technology:
- Steam Reforming
- Partial Oxidation
- Auto-Thermal Reforming
- Combined
- Two-Step Reforming and Reforming
Market Breakup by End User:
- Power Generation
- Chemicals
- Liquid Fuels
- Gaseous Fuels
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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