The latest report by IMARC Group, titled "Syngas Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," finds that the global syngas market size reached 308.8 GWth in 2021. 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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. Looking forward, IMARC Group expects the market to reach a volume of 574.5 GWth by 2027, expanding at a CAGR of 10.3% during the forecast period (2022-2027).
- Based on the gasifier type, the market has been divided into fixed bed, fluidized bed, and entrained flow.
- On the basis of the feedstock, the market has been segregated into coal, natural gas, petroleum, pet-coke, and biomass and waste.
- The market has been classified based on technology into steam reforming, partial oxidation, combined or two-step reforming, auto-thermal reforming, and others.
- Based on the end-use, the market has been classified into chemicals (ammonia, gas to liquid, hydrogen, methanol, n-butanol and dimethyl ether), liquid fuels, gaseous fuels, and power generation.
- Region-wise, the market has been segmented into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been analyzed, with some of the key players being Air Products and Chemicals, Inc., Air Liquide SA, BASF SE, BP PLC, Royal Dutch Shell plc (Shell plc), Siemens AG, Linde plc, General Electric (GE) Company, Dakota Gasification Company, SynGas Technology LLC, TechnipFMC PLC, OXEA GmbH, Yara International ASA, John Wood Group PLC, and ECUST.
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