Global Synthetic Natural Gas Market size and share is currently valued at USD 23.76 billion in 2024 and is anticipated to generate an estimated revenue of USD 194.53 billion by 2034, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 23.4% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2025 – 2034
Market Overview:
Synthetic Natural Gas (SNG) is a manufactured gas that serves as a substitute for natural gas, produced through chemical processes such as coal gasification, biomass gasification, or methanation of syngas. SNG is gaining traction as a viable alternative to conventional natural gas, driven by its versatility in applications such as power generation, residential heating, and industrial processes. With increasing global energy demand and a shift towards cleaner energy solutions, the SNG market is poised for significant growth in the coming years.
The global synthetic natural gas market has been gaining traction due to increasing efforts to reduce greenhouse gas emissions and reliance on fossil fuels. Governments, energy companies, and research institutions worldwide are investing in innovative SNG production technologies to accelerate the transition to a low-carbon economy.
Market’s Growth Drivers:
Rising Energy Demand
The global demand for energy continues to surge due to population growth and rapid industrialization. SNG offers a sustainable and reliable energy source, making it an attractive solution to meet this increasing demand.
Transition to Cleaner Energy
Governments and organizations worldwide are emphasizing the reduction of carbon emissions. SNG, with its lower environmental impact compared to fossil fuels, aligns with these sustainability goals, driving its adoption.
Resource Availability
The availability of feedstock such as coal, biomass, and waste materials provides a consistent supply for SNG production, ensuring a stable and scalable production process.
𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
Key Companies in the Synthetic Natural Gas Market:
- Air Liquide
- Air Products and Chemicals, Inc
- BASF SE
- Methanex
- Sasol
- Shell
- Synthesis Energy Systems, Inc.
- The Linde Group
- Yankuang Group
- Yara International
Synthetic Natural Gas Market Developments:
June 2023: Naturgy and Greene announced a collaboration to produce synthetic bio-methanation (syngas) for injection into the gas distribution network or use in mobility applications. This groundbreaking project, the first of its kind in Spain, is notable for utilizing a unique type of waste to produce bio-synthetic natural gas.
June 2023: TotalEnergies formed a partnership with Tree Energy Solutions to establish a synthetic natural gas plant in the United States. The facility aims to use green hydrogen and biogenic CO2 to produce up to 200,000 metric tonnes of synthetic natural gas annually.
November 2022: Tokyo Gas, Osaka Gas, Toho Gas, and Mitsubishi Corporation (MC) entered into an agreement and conducted a feasibility study for a project to produce synthetic methane. The study focused on potential production sites in Texas or Louisiana.
Segmental Overview:
The synthetic natural gas market can be segmented based on the following criteria:
Synthetic Natural Gas Market, Source Outlook (Revenue – USD Billion, 2020-2034)
- Coal
- Biomass
- Renewable Energy
Synthetic Natural Gas Market, Applications Outlook (Revenue – USD Billion, 2020-2034)
- Transportation
- Power Generation
- Industrial
- Grid Injection
Synthetic Natural Gas Market, Technology Outlook (Revenue – USD Billion, 2020-2034)
- Anaerobic Digestion & Fermentation
- Thermal Gasification
- Power to Gas
- Fluidized Bed Gasifier
- Entrained Flow Gasifier
The synthetic natural gas market is poised for substantial growth as industries and governments worldwide focus on achieving sustainability goals. With continuous advancements in technology and increasing investments, SNG is set to become a cornerstone of the global energy transition. By addressing key challenges such as cost reduction and scalability, the market is expected to unlock its full potential, contributing to a cleaner and more sustainable future.