Global Syngas Market to Reach 521.7 MM Nm3/h by 2032, Stimulated by Increasing Demand for Renewable Energy Sources

April 28, 2023 | Energy & Mining

According to the latest report by IMARC Group, titled “­­Syngas Market Report by Gasifier Type (Fixed Bed, Fluidized Bed, Entrained Flow), Feedstock (Coal, Natural Gas, Petroleum, Pet-Coke, Biomass and Waste), Technology (Steam Reforming, Partial Oxidation, Combined or Two-Step Reforming, Auto Thermal Reforming, and Others), End-Use (Chemicals, Liquid Fuels, Gaseous Fuels, Power Generation), and Region 2024-2032,” the global syngas market size reached 239.7 MM Nm3/h in 2023. Syngas, also known as synthesis gas, is a versatile gas mixture primarily composed of hydrogen (H2), carbon monoxide (CO), and carbon dioxide (CO2). It is produced by the gasification process, which involves converting carbon-containing solid fuels, such as coal, biomass, or municipal waste, into a gaseous form by reacting it with a controlled amount of oxygen or steam. Syngas is considered a cleaner, renewable, and more sustainable energy source than traditional fossil fuel as it can be produced from a wide range of feedstocks, including waste materials, agricultural residues, and forestry wastes. It is extensively used to generate synthetic natural gas (SNG), oxo-chemicals, dimethyl ether, hydrogen, and ammonia or methanol for industrial applications. Apart from this, it is also used for producing different fertilizers, solvents, fuels, and synthetic materials.

Global Syngas Market Trends:

The widespread product utilization across the bolstering chemical industry is primarily driving the global syngas market growth. Besides this, the increasing product demand for producing SNG that is used in the form of liquified natural gas (LNG) and compressed natural gas (CNG) in rail, marine, and road transportation sectors is presenting remunerative growth opportunities for the market. Moreover, the rising product adoption as a power supply to fuel gas engines due to its numerous benefits, such as low energy costs, increased stability, and predictability, represents another significant growth-inducing factor. In addition to this, the escalating environmental consciousness among consumers and the implementation of stringent government policies and regulations promoting the adoption of clean fuels are propelling the market growth. In line with this, the widespread adoption of syngas to achieve sustainable energy production, decrease waste pollution in landfills, and reduce greenhouse gases (GHG) from the atmosphere is aiding in market expansion. Furthermore, the development of the underground coal gasification (UCG) method, which facilitates in-situ gasification of coal into syngas, eliminates the need for transporting the feedstock to gasification plants, and provides significant cost benefits are creating a positive outlook for the market. Looking forward, the market volume is projected to reach 521.7 MM Nm3/h by 2032, expanding at a CAGR of 8.8% during 2024-2032.

Market Summary:

  • On the basis of the gasifier type, the market has been divided into fixed bed, fluidized bed, and entrained flow.
  • Based on the feedstock, the market is categorized into coal, natural gas, petroleum, pet coke, and biomass and waste.
  • On the basis of technology, the market has been segregated into steam reforming, partial oxidation, combined or two-step reforming, auto thermal reforming, and others.
  • Based on the end-use, the market is classified into chemicals (ammonia, gas to liquid, hydrogen, methanol, n-butanol, dimethyl ether), liquid fuels, gaseous fuels, and power generation.
  • On a regional basis, 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 examined, with some of the key players being Air Products and Chemicals, 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.


Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units MM Nm3/h
Segment Coverage Gasifier Type, Feedstock, Technology, End-Use, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered Air Products and Chemicals, 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
Customization Scope 10% Free Customization
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Global Syngas Market to Reach 521.7 MM Nm3/h by 2032, Stimulated by Increasing Demand for Renewable Energy Sources
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