Syngas Market Global Industry Growth Analysis, Size, Share, Trend, Future Demand and Leading Players Updates by Forecast to 2023

05/nov/2019 12:12:48 Market Research Future Contatta l'autore

Syngas is an abbreviation of synthesis gas. It is a mixture of carbon dioxide, carbon monoxide, and hydrogen along with other components such as methane and nitrogen. A new report on the Global Syngas Market, published by Market Research Future (MRFR), anticipates that this market can hit the sky at 9.65% CAGR during the forecast period (2016-2023).

The most prominent market driver for the Global Syngas Market is the use of syngas for producing a wide range of fertilizers, fuels, solvent, and many synthetic materials. It is used for the chemical synthesis of many chemicals. The flexible nature of the compound and easy availability of raw materials for Syngas production can also push up the market growth. Being combustible, Syngas is often used as a fuel in internal combustion engines. Other factors driving the market growth include worldwide growth of the chemical industries, rising concerns regarding urban waste, need for energy management, demand for the reuse of waste materials, and environment-friendly nature of syngas. However, the capital-intensive nature of Syngas and the requirement for high funding to produce Syngas can create hurdles in the market growth.

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Key Players:

Big Players in the Global Syngas Market are Air Liquide (France), Air Products and Chemicals Inc. (USA), BASF SE (Germany), HELM AG (Germany), The Linde Group (Germany), Methanex (Canada), Sasol (South Africa), Shell (Netherlands), Synthesis Energy Systems Inc. (USA), Yara International (Norway), and Yankuang Group (China).

Latest Industry News:

American company Air Products has announced a new joint venture with Debang Xinghua Technology Co. Ltd., a subsidiary of Jiangsu Debang Chemical Industrial Group Co., Ltd. (“Debang Group”). According to this joint venture, the two business partners are to build, own and operate a coal-to-syngas processing facility in Xuwei National Petrochemical Park in the Lianyungang City that is in the Jiangsu Province of China. 9 SEP 2019

Market Segmentation:

The Global Syngas Market segmentation encompasses Application, Feedstock, Gasifier, and Process. MRFR’s analysis of the market marks various facets of the market in-depth.

The Application-Based Segmentation of this market covers the chemical synthesis, fertilizers, fuels, industrial gases, power generation, and others. The chemical synthesis segment has been sub-segmented into ammonia, dimethyl carbonate, dimethyl ether, ethanol, methanol, n-butanol, oxo chemicals, sulfates, and others. The chemical synthesis segment dominates the market due to the growth of the chemical industries around the world.

Regarding Feedstock, the market has been segmented into biomass, coal, municipal solid waste, petroleum coke, plastic waste, water treatment plant sludge, and others. Among these segments, coal holds the maximum market share as it is abundantly available. Coal can be converted into electricity, hydrogen, and other valuable products. The gasification of coal has low Sulphur emission level and low nitrogen oxides emission levels. Hence in gas form, coal is environment friendly.

Based on Gasifier, the market has been segmented into entrained bed, fixed bed, fluidized bed, and others. Fluidized bed gasifiers hold the largest market share as they have better temperature control, excellent heat transfer characteristics, a good degree of turbulence, high volumetric capacity, large heat storage capacity, and strong gas-to-solids contact. However, operating at pressures slightly above atmospheric levels, fluidized bed gasifiers respond slowly to load changes and expensive control systems.

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Regarding the Process, the market has been segmented into auto thermal reforming, gasification, partial oxidation, pyrolysis, steam reforming, and others. The gasification process has the largest market share as it is widely used for producing Syngas due to certain advantages as compared to the conventional process. The advantages of gasification process include the requirement of a low amount of oxygen.

Regional Segmentation:

A Geographical Outlining of the Global Syngas Market covers the Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa (MEA).

The Asia Pacific region dominates the global market due to the availability of raw materials and high demand for power generation in this region. High demand for fertilizers in the major agriculture-based economies like India, Malaysia, Taiwan, and Vietnam is also fueling the demand for Syngas. In this report, Australia and New Zealand have been organized as one segment. Other country-specific markets of note in this region are China and Japan.

During the forecast period, the market in Europe and North America is expected to grow significantly due to the high demand for Syngas as an intermediate to produce chemicals. Such chemicals are used in many end-use industries such as aerospace, automotive, construction, electronics, and military & defense. In North America, the USA and Canada generate maximum market revenue. The major market share in this region is held by France, Germany, Italy, Poland, Russia, Spain, and the UK. Research on the remaining countries in Europe featured in this report estimate the strong contribution to market revenue from some other countries of this region.

In the MEA region, the market is meager due to lack of technical knowledge, lack of skilled professionals, and low development. Priority country-specific markets in this region are Bahrain, Israel, Kuwait, North Africa, Oman, Saudi Arabia, Qatar, Turkey, and the UAE. An assessment of the remaining countries in the MEA region featured in this report anticipates a decent contribution to market revenue from some other countries.

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