Gasification Market to Exhibit a CAGR of 5.3% during 2021-2028; Flourishing Coal Industry to Enable Lucrative Growth Prospects

The global gasification market size is expected to reach USD 663.72 billion by 2028. The growing emphasis on waste management will fuel demand for the product in the forthcoming years, in turn aiding the growth of gasification, as mentioned in a report titled “Gasification Market Size, Share & COVID-19 Impact Analysis, By Feedstock (Coal, Petroleum, Natural Gas, and Biomass/Waste), By Application (Chemical, Liquid Fuel, Gaseous Fuel, and Power), and Regional Forecast, 2021-2028.” The market size stood at USD 434.49 billion in 2020 and is expected to exhibit a CAGR of 5.3% between 2021 and 2028.

Because most countries are on lockdown, the COVID-19 pandemic is expected to impact electricity consumption considerably. Many projects around the world are experiencing delays as a result of COVID-19. A large projected coal and fertilizer facility in eastern India faces potential delays because of the Covid-19 pandemic, which is delaying operations at its Chinese contractor. As a result, the Rs 13,270 crore Talcher Fertilizer Urea Plant project has been delayed by almost six months.

Decline in Oil & Gas Consumption to Affect Market Dynamics

The ongoing COVID-19 epidemic has triggered a full-fledged crisis, with travel restrictions and aircraft cancellations imposed to halt the virus's spread. Furthermore, travel, employment, and industry constraints caused by the coronavirus are predicted to eliminate billions of barrels of oil, trillions of cubic metres of gas, and millions of tonnes of coal from the global energy system in 2020 alone. Because biofuels are blended with gasoline or diesel under existing blending laws, their production is expected to be directly influenced by decreased demand for road transportation.

Collaboration of EQTEC and Toyota to Incite Development

Gasification company EQTEC and Toyota inked an agreement to develop a 'waste-to-energy’ system that may see home trash used to power Toyota's engine facility in Deeside, UK. EQTEC will work with Toyota to scope and assess the potential of biomethane and green electricity. The companies also aim to use manufacturing waste for power generation. This could help the Deeside Industrial Estate engine plant reduce its carbon footprint on an annual basis. Moreover, Toyota and EQTEC will collaborate to develop a gas and power plant to supply Toyota’s engine manufacturing plant by building and commissioning the Deeside RDF Project, which is close to the Toyota site.

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Rising Number of Coal Gasifiers to Spur Gasification Market Growth

Synthesis gas is produced using a different sort of feedstock, with coal being the most often used resource. In terms of gasification installations, the number of coal gasifiers increased the most in 2017 and 2018. Furthermore, according to the Global Syngas Technologies Council (GSTC) database, coal dominates the number of projects planned and under construction, and this trend is expected to continue in 2020 and 2021. According to the BP Statistical Review for 2019, coal production output increased by 4.3 percent year on year in 2018, the quickest rate in the prior five years. In 2018, demand for coal climbed by 1.4 percent year on year. Another element driving this market is an increase in demand for coal from Eastern Europe and the construction of new coal-fired power plants in Poland, Greece, and the Balkan region. In 2017, the seaborne trade of coal recovered as well. This pattern continued in 2018, with an increase in overall coal imports. The coal industry is expected to grow because of the rising demand for power and coal in the industrial sector. As a result, the expansion of the coal sector is predicted to promote global market growth.

Prominent Companies to Focus on Increased Production Capacity

The expanding emphasis of large corporations on improving production capacity will positively impact this market. Jindal Steel and Power Ltd (JSPL) stated in January 2020 that its coal gasification-based direct reduction iron (DRI) plant in Angul district, Odisha, had begun operations. The facility, which has a capacity of 1.80 MTPA, had ceased operations due to a lack of coal.

Key Development:

• April 2020: Larsen & Toubro was awarded an order from Wuhan Engineering Ltd, China, for coal gasification equipment. The unit will use coal with high ash content and pet coke as its feedstock to produce Urea.

The Report Lists the Key Players in this Market:

• Air Liquide (France)


• Shell (Netherlands)


• Mitsubishi Heavy Industries (Japan)


• ANDRITZ (Austria)


• Thyssenkrupp ag (Germany)


• Synthesis Energy Systems, Inc. (U.S.)


• Larsen & Toubro Limited (India)


• Dakota Gasification Company (U.S.)


• EQTEC plc (Ireland)


• GE (U.S.)


• Air Products (U.S.)


• Sedin Engineering Company Limited (China)

Further Report Findings:

• Regional Insights: Asia Pacific is expected to account for the maximum gasification market share during the forecast period. The growth is attributed to the presence of considerable coal reserves and surging demand for clean energy technology.


• Leading Segment: The chemical sector is expected to hold the largest share in the global market. The principal product of the facility is synthesis gas, which is utilized in the production of a variety of products. The majority of it is used in the chemical sector, producing ammonia, methanol, liquid fuels, and hydrogen. Methanol, for example, is employed as an intermediate in the synthesis of various compounds and fuels.

This market is segmented into: