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Global Syngas Market to Grow at 9% During 2019-2024, Propelled by Growing Usage of Clean Fuels

According to the latest report by IMARC Group, titled “Syngas Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global syngas market has witnessed strong growth in 2018. Syngas, an abbreviated term for synthetic gas, is a mixture of carbon monoxide, carbon dioxide and hydrogen. It is generated by gasifying a carbon-containing fuel into a gaseous liquid at a certain heating value. Syngas is also used in the manufacturing of other fuels, namely methanol and diesel fuel, and as a fermentation feedstock for the biological production of liquid fuels and various other chemicals. Nowadays, the manufacturers are developing the underground coal gasification (UCG) method to facilitate the completion of in-situ gasification process that converts coal into syngas.

Global Syngas Market Trends:

Syngas has an independent power supply, greater predictability and stability, reduced energy costs and higher electrical efficiency as compared to the other fuels. Owing to this, it is increasingly being utilized in electricity generation or the production of liquid fuels, such as synthetic diesel, dimethyl ether, and methanol, as a clean alternative to fossil fuels. Also, syngas acts as a substitute for conventional gases and offers environmental benefits such as reduced emissions of greenhouse gas. This has encouraged governments of various nations to promote the use of clean fuels like syngas, which, in turn, is providing a positive thrust to the market growth. Significant research and development (R&D) activities are also being undertaken for the incorporation of advanced technologies to produce syngas. For instance, Leigh Creek Energy, an innovative energy company based in Australia, uses the latest process control and automation technology in the generation of synthetic natural gas. Looking forward, the market value is projected to expand at a CAGR of around 9% during the forecast period (2019-2024).

Market Summary:

  • Based on the gasifier type, the market has been segmented into fixed bed, entrained flow and fluidized bed.
  • On the basis of the feedstock, the market has been classified into coal, natural gas, petroleum, pet-coke, and biomass and waste.
  • The market has been categorized based on the technology into steam reforming, partial oxidation, auto-thermal reforming, combined or two-step reforming and reforming.
  • On the basis of the end use, the market has been divided into power generation, chemicals (methanol, ammonia, oxo chemicals, n-butanol, hydrogen and dimethyl ether), liquid fuels and gaseous fuels.
  • Region-wise, the market has been segregated into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
  • The competitive landscape of the market has also been examined in the report. Some of the key players operating in the market include 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, TechnipFMC PLC, OXEA GmbH, Yara International ASA, John Wood Group PLC and East China University of Science and Technology (ECUST).

 

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