Syngas and Derivatives Market Size, Share and Global Trend By Feedstock(Coal, Petroleum, Natural Gas, Biomass), By Technology(Partial Oxidation, Steam Reforming, Auto-Thermal Reforming, and others), By End User(Chemicals, Power Generation, Liquid Fuels, Gaseous Fuels), and Regional Forecast, 2024-2032

Syngas which can be extracted from coal, biomass, etc, can be used in different sectors as a substitute fuel. Gasification of coal gives sulphur and ammonia as by-products which have important industrial applications. This makes gasification more economical for the operators. The use of syngas entails a lot of benefits to human development, ecological protection, as well as for general welfare because of its contribution reducing waste pollution in landfills, urban and rural areas; greenhouse gases from the atmosphere. Syngas is most utilized for electricity generation and the preparation of chemicals.

On the basis of feedstock, global syngas and derivatives market can be segmented into coal, petroleum, natural gas, and biomass. Syngas which uses coal as feedstock is considered to be the best replacement for gaseous and liquid fuel production. On the basis of technology, global syngas and derivatives market can be segmented into steam reforming, auto-thermal reforming, biogas gasification, partial oxidation, and combined reforming. Depending upon the feedstock available the suitable technique is adopted.

On the basis of application, global syngas and derivatives market can be segmented into chemicals, power generation, liquid fuels, gaseous fuels. Chemical forming is the most used application of syngas. The chemicals such as ammonia, methanol, dimethyl ether, oxo-chemicals, and hydrogen are the most popular chemicals produced using syngas.

The increase in energy demand all over the world is the key market driver for global syngas and derivative market. Syngas is mainly used for electricity, whose demand is increasing with time. The use of derivatives has also increased in industrial applications. All these factors act as key market drivers for the global syngas and derivatives market.

Key market restraint for the global syngas and derivatives market is the high capital investment and the time required for construction of an operating plant. The plant requires hi-tech gasification technology which increases the cost of the plant. The unavailability of feedstock also acts as a key market restraint for the global syngas and derivatives market.

KEY PLAYERS COVERED

Some of the notable companies in global syngas and derivatives market are Syngas Technology LLC, Sasol Ltd., Chicago Bridge & Iron Co. N.V., Air Products & Chemicals Inc., Air Liquide SA., The Linde Group, Siemens AG, Haldor Topsoe A/S, BASF SE, AMEC Foster Wheeler Plc, Yara International, Methanex, CF Industries, and Linc Energy

SEGMENTATION

REGIONAL ANALYSIS

The global syngas and derivatives market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region has been the dominating region in this market. The key reasons for this region to lead the market are the growing rate of urbanization, availability of gas reserves, and development in infrastructure.  The increase in demand for energy mainly from developing countries like China, Japan, Indonesia, and India. European and North American counties including the US, the UK, Norway, and Canada have been exhibiting rising syngas demand for the production of various chemicals. The Middle East and Africa region also have a strong hold on the market owing to the increased use of syngas for the power and electricity generation.

KEY INDUSTRY DEVELOPMENTS

• In April 2019, Synthesis Energy Technologies LLC which owns the SES gasification technology and its related global business undertakings entered the technology purchase option agreement with Australian Future Energy Pty Ltd.
• In February 2019, Praxair, a wholly owned subsidiary of Linde plc, has started a new syngas plant in Geismar, Louisiana, USA.
• In September 2018, Hokkaido University researchers have created an improved catalyst for the conversion of methane gas into syngas, a precursor for liquid fuels and fundamental chemicals.