The global syngas market size was USD 48.71 Billion in 2021 and is expected to register a revenue CAGR of 5.9% over the forecast period, according to the latest analysis by Emergen Research. Increasing investment in power generation in various countries and rapid adoption of Underground coal gasification (UCG) process are driving demand for syngas. In addition, increasing demand for alternative and renewable sources of fuel is expected to drive revenue growth of the market.
UCG process converts underground coal into a mixture of gaseous products. Methane, hydrogen, carbon monoxide, and carbon dioxide are the primary byproducts. Syngas is a mixture of hydrogen and carbon monoxide that can be used to create liquid fuel or synthetic natural gas. To inject and extract gas in UCG, wells are drilled deep into the coal seam. In principle, coal can be burned underground at high pressure to create the gases by pumping air or oxygen into the coal seam; these gases are then retrieved through separate wells to the surface. UCG does away with the requirement for mining, as well as the related risks to miners and environmental damage. Due to the fact that only one-sixth to one-eighth of the world’s coal reserves can be commercially mined, it also converts deep or difficult-to-access coal seams into useful energy resources. According to experts, UCG could raise the U.S. reserves of useable coal by 300%. Rapid adoption of the UCG process is driving revenue growth of the market.
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Increasing investment in power generation in various countries and high demand for alternative and renewable sources of fuel can increase demand for syngas. Syngas is a renewable fuel, which is produced from wood, waste wood, cellulose, or lignin. It is a mixture of hydrogen, carbon monoxide, carbon dioxide, methane, and nitrogen depending on the type of feedstock. The methane can be isolated from these parts and processed to produce bio SNG. Gas engines can run on both syngas and bio SNG as fuel.
Market Scope:
One of the report’s central components is the broad Syngas market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders. The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period. The key players’ financial positions, along with their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios, have been accurately gauged in the report.
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Key Highlights From the Report
On 13 September 2019, Air Products Inc. announced a Joint Venture (JV) with Debang Xinghua Technology Co. Ltd. to build, own and operate a new processing facility that converts coal to syngas in the province of Jiangsu, China. The JV is located in Lianyungang City’s Xuwei National Petrochemical Park, and 80% of it is owned by Air Products and 20% of it is owned by Debang Group.
The steam reforming segment revenue is expected to account for largest revenue share over the forecast due to higher production of hydrogen compared to other methods. In addition, rapid adoption of the process of steam reforming for syngas production in industries is driving revenue growth of the segment
The Entrained Flow Gasifier (EFG) segment accounted for a larger market share in 2021. Large-scale coal gasification systems employ EFG technology to produce high-quality syngas for commercial use.
Emergen Research has segmented the global syngas market based on production technology, gasifier type, feedstock, application, and region:
By Production Technology Outlook (Revenue, USD Billion, 2019–2030)
Steam Reforming
Partial Oxidation
Auto-Thermal Reforming
Two-step Reforming
Biomass Gasification
Gasifier Type Outlook (Revenue, USD Billion, 2019–2030)
Moving Bed Gasifier
Fluidized Bed Gasifier
Entrained Flow Gasifier
Others
Feedstock Outlook (Revenue, USD Billion, 2019–2030)
Coal
Natural Gas
Petroleum Byproducts
Biomass
Application Outlook (Revenue, USD Billion, 2019–2030)
Chemicals
Fuel,
Electricity
Others
Some major companies in the global market report include
Air Products Inc.,
KBR Inc.,
Linde plc,
Siemens,
Haldor Topsoe A/S, Air Liquide,
BASF SE,
Synthesis Energy Systems, Inc.,
Dow Inc., and
Sasol Limited.
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Global Syngas Market Geographical Landscape – Synopsis:
The report closely studies the growth trajectory of the global Syngas market. It brings to light the global dominance of the leading regional segments, including North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
The study elaborates on the crucial information pertaining to the regional market share. It simultaneously focuses on the significant details about the growth patterns of each regional market.
Moreover, the report encases an exhaustive geographical study of the market, emphasizing the business growth prospects and market barriers for each of the key market regions.
Key questions addressed in the report:
What are the key factors driving the global Syngas market?
Who are the key manufacturers in this market space?
Who are the distributors, traders and dealers of this market?
What are the market opportunities and risks affecting the performance of the vendors in the global Syngas market?
What are the sales and revenue estimations for the top manufacturers in this market over the projected timeline?
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