Global Syngas Market is estimated to reach a market size of 398.307 GW in 2027

Global Syngas Market is estimated to reach a market size of 398.307 GW in 2027

By Knowledge Sourcing Intelligence Press Releases

Knowledge Sourcing Intelligence announces the publication of a new analysis report on the market of the "Global Syngas Market - which is forecasted from 2022 to 2027”.

The growing demand for syngas in the chemical industry and its growing demand for the production of SNG, LNG, and CNG are responsible for stimulating the global expansion of the Global Syngas Market.

As per the report, Global Syngas Market is expected to grow at a CAGR of 9.19% to reach 398.307 GW by 2027, from 215.179 GW in 2020. 

The global syngas market is driven by its increasing utilization in electricity, fuels, and agricultural industries. The production of chemicals using syngas is also expected to drive up the demand for the market. The increase in demand for environment-friendly and renewable power generation alternatives is expected to drive up the market demand. Moreover, the development of Underground Coal Gasification (UCG) technology is expected to drive up the demand for the industry.

Costly capital investment, along with the extensive time required to construct and set up an operational facility is one of the few challenges faced by the syngas industry and might hinder the growth prospects for the industry

Based on feedstock, the global syngas market is categorized into natural gas, coal, petroleum, pet-coke, and biomass. The coal feedstock holds a significant share in the market, mostly due to its high availability for energy production and also its universal suitability with different technologies for the manufacture of synthetic gases. Hence, this segment is expected to see significant demand in the global syngas market.

Based on the technology, the global syngas market is divided into partial oxidation, biomass gasification, steam reforming, autothermal reforming, and combined or two-step reforming. Of these segments, the steam reforming segment holds the largest market share, and owing to the popularity of economical and environment-friendly production methods, the market is expected to grow even further. This method is widely used for the production of hydrogen.

Based on gasifier type, the global syngas market is divided into the fluidized bed, fixed bed, entrained flow, and others. The fluidized bed gasifier holds the largest market share among other gasifier types. This method is mainly used to increase the reactivity of low-quality feedstocks.

Based on its application, the global syngas market is divided into power generation, chemicals, and others. The largest share in the application segment is occupied by chemicals since syngas function as the most economical feedstock option to store and produce. The main use of syngas in the chemical industry is for the production of fuels such as methanol and diesel. Due to its increasing prevalence in the chemical industry, its market share is expected to grow rapidly, and the chemical segment is expected to hold a significant share.

 Based on Geography North America, South America, Europe, the Middle East, Africa, and the Asia Pacific are the regions that make up the global syngas market. The Asia Pacific region holds the largest market share in this segment, owing to the advancements in the chemical industry and refineries in the region. Moreover, ammonia, a product obtained from syngas used in fertilizers, is in great demand in the Asia Pacific region, mostly due to the growing agricultural sector in the region. The APAC region is expected to hold a significant portion of the market in the upcoming years as well.

As part of the report, the major players operating in the Global Syngas market that have been covered are Air Liquide, Shell, Linde Plc, Air Products and Chemicals Inc, Synthesis Energy Systems Inc, etc.

Others View a sample report or purchase the complete study https://www.knowledge-sourcing.com/report/global-syngas-market

This analytic report segments the Global Syngas market on the following basis:

  • By Feedstock
    • Natural Gas
    • Coal
    • Petroleum
    • Pet-Coke
    • Biomass
  • By Technology
    • Partial Oxidation
    • Biomass Gasification
    • Steam Reforming
    • Autothermal Reforming
    • Combined or Two-Step Reforming
  • By Gasifier Type
    • Fluidized Bed
    • Fixed Bed
    • Entrained Flow
    • Others
  • By Application
    • Power Generation
    • Chemicals
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • Spain
      • United Kingdom
      • France
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • Israel
      • Others
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia