Global Syngas Market- Industry Analysis and Forecast (2019-2027)

Global Syngas Market was valued US$ XX Bn in 2019 and is expected to grow US$ XX Bn by 2027, at a CAGR of 10.8% during the forecast period.

Global Syngas MarketThe report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.

Syngas Market Outlook:

Syngas is a combination containing mainly hydrogen, carbon monoxide, and carbon dioxide. The syngas is generally formed by gasification. Its main application is the electricity generation and has some heating value. It is a flexible intermediate used for the production of methanol, ammonia, and SNG. Syngas is also an in-between into synthesizing petroleum to use as a lubricant and also to produce other chemicals. The integration of syngas-based processes into present refinery & petrochemical production facilities will not only support to develop the attractiveness of these complexes, but it will also decrease the level of requirement from crude oil for the production of fuels and petrochemicals.

Syngas Market Dynamics:

The ability of syngas to be made from a wide variety of feedstock, like coal, natural gas, petroleum coke, and biomass is certainly impacting the growth of the syngas market. The flexibility decreases the need for raw material for producing syngas. The commercially available gasifiers are technically innovative and retain the ability to process multiple feedstocks for syngas production. So, the obtainability of different types of raw materials across the globe has allowed the syngas manufacturers to leverage the option of taking feedstock based on the market conditions, eventually contributing extensively to the growth of the syngas market in the future.

The structures of materials in syngas vary dependent leading to the chemical composition of the feedstock. Syngas is formed from many hydrocarbon feedstocks, via the reaction between both steam & oxygen. Coal gasification using the UCG (Underground coal gasification) method agrees to the in-situ gasification process, which converts coal into syngas. The combination of environmental and economic benefits of UCG (Underground coal gasification) will shoot syngas demand and production in the future. Much attention has been concentrated on reducing the use of petroleum products, like fuels and rising demand for electricity, thus syngas introduces a great opportunity for energy sustainable growths.

On the other hand, the syngas market looks certain drawbacks which include the large amounts of preliminary capital investment and funding.

Syngas Market Segmentation:

By the application, the chemicals segment held the largest market share of the global syngas market in 2019, thanks to the demand for chemicals for the production of syngas from methanol, ammonia, and Fischer-tropsch synthesis products, for instance, the methanol is used as fuel plus feedstock, which makes it the most important chemical from synthesis. Ammonia is the main chemical for manufacturing fertilizers which drives the growth of the chemical segment in the syngas market.

In terms of feedstock, the biomass segment is expected to hold the largest market share in the global syngas market by 2027. Progressively severe environmental rules across developed and developing economies, with the reducing coal & natural gas reserves, have enhanced the adoption and growth of biomass feedstock in the production of syngas.

Region-wise, Asia-Pacific dominated the market across the globe, with the largest consumption, holding the largest market share of the global market, followed by North America and Europe successively. Asia-Pacific dominated the global market share in 2018, with the demand from the chemical industry, primarily from refineries. Because of abundant coal reserves and a high dependence on crude oil imports, the Chinese coal-to-chemicals industry based on syngas utilization has improved vastly over the last 10 years. China’s refinery capacity is around 14,177 thousand barrels per day, which constitutes 14.6% of the world’s refining capacity. The Chinese oil & gas sector is dominated by four national and provincial oil companies, such as PetroChina, Sinopec, China National Offshore Oil Corporation (CNOOC), and Yanchang Petroleum. For example, PetroChina and Sinopec account for 31% and 45% of the total crude oil refining capacity in the country, individually. The above-mentioned factors are expected to increase the consumption of syngas during the forecast period.

The objective of the report is to present a comprehensive analysis of the Global Syngas Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Syngas Market dynamics, structure by analyzing the market segments and project the Global Syngas Market size. Clear representation of competitive analysis of key players by type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Syngas Market make the report investor’s guide.

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Scope of the Global Syngas Market

Global Syngas Market, By Feedstock

• Coal
• Natural Gas
• Petroleum
• Pet-coke
• Biomass
Global Syngas Market, By Technology

• Steam Reforming
• Partial Oxidation
• Auto-thermal Reforming
• Combined or Two-step Reforming
• Biomass Gasification
Global Syngas Market, By Gasifier Type

• Fixed Bed
• Entrained Flow
• Fluidized Bed
Global Syngas Market, By Application

• Power Generation
• Chemicals
o Methanol
o Ammonia
o Oxo Chemicals
o n-Butanol
o Hydrogen
o Dimethyl Ether
• Liquid Fuels
• Gaseous Fuels
Global Syngas Market, By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Syngas Market

• Sasol Limited
• Haldor Topsoe A/S
• Air Liquide S.A.
• Siemens AG
• Air Products and Chemicals Inc.
• KBR Inc.
• Linde plc
• 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
• Others

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