Syngas Market: Business Opportunities, Current Trends, Market Challenges in 2030
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.
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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.
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.
Competitive Terrain:
The Global Syngas Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold.
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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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. Entrained-flow gasifiers can process almost any type of coal feedstock, producing syngas that is clean and tar-free.
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
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The report also offers regional level analysis and market estimation for the regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Regional Outlook of Syngas Market:
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
U.A.E.
South Africa
Rest of MEA
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Table of Contents:
Chapter 1 includes an introduction of the global Syngas market, along with a comprehensive market overview, market scope, product offerings, and an investigation of the market drivers, growth opportunities, risks, restraints, and other vital factors.
Chapter 2 offers an in-depth analysis of the key manufacturers engaged in this business vertical, along with their sales and revenue estimations.
Chapter 3 elaborates on the highly competitive terrain of the market, highlighting the key manufacturers and vendors.
In Chapter 4, our team has fragmented the market on the basis of regions, underscoring the sales, revenue, and market share of each region over the forecast timeline.
Chapters 5 and 6 have laid emphasis on the market segmentation based on product type and application.
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About Us:
At Emergen Research, we believe in advancing with technology. We are growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
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