0

Syngas Market Expected To Reach $66.5 Billion by 2027

 
2022
Syngas Market

Report Code : A07839

quote Syngas, along with other elements such as methane and nitrogen, is a mixture of carbon monoxide, carbon dioxide, and hydrogen. The global demand for syngas is primarily driven by the use of syngas as a way of processing a wide variety of fertilizers, fuels, solvents, and synthetic materials. Therefore, the global syngas market size is expected to witness profitable growth opportunities during the forecast period. quote

Eswara Prasad
Manager, Energy Power at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research titled, “Syngas Market by Gasifier, Technology, Feedstock, and Application: Opportunity Analysis and Industry Forecast, 2020–2027,” the global syngas market was valued at $43.6 billion in 2019, and is projected to reach $66.5 billion by 2027, growing at a CAGR of 6.1% from 2020 to 2027. 

Syngas, which consists of hydrogen and carbon dioxide, is a natural gas fusion. It is an adaptable intermediate used in methanol, ammonia, and SNG manufacturing.  Syngas is created by a reaction between steam and oxygen from several hydrocarbon feedstocks.

Increase in environmental issues has been the key driver of the syngas market. This is attributed to the syngas is widely used as clean and renewable energy to replace conventional sources of energy. In addition, owing to the outbreak of COVID-19, rise in demand for chemical intermediaries in the production of hygiene and sanitation and pharmaceutical products is expected to drive the need for syngas in the chemical industry.

In the 2019, the fluidized-bed gasifiers segment garnered the largest share. Major benefits of fluidized-bed gasifiers include fuel flexibility resulting from good mixing of feedstock and oxidants to ensure efficient heat and mass transfer, and their ability to deal with small particles.

The steam reforming segment held the major share in in 2019. Steam reforming is the most utilized and cost-effective technology for the production of syngas.  

Coal dominated the feedstock segment by accounting for the largest share of 69.8%. The processing of syngas includes coal, an abundantly available raw material. Coal gasification is flexible and is the cleanest way to turn coal into hydrogen, power, and other useful items.

Depending on application, the chemical industry dominated the market, owing to increase in demand for syngas from the chemical industry. As the demand for gaseous fuels rises, the market is expected to expand further.

Players analyzed and profiled in the global syngas market Air Liquide, Air Products and Chemicals Inc., BASF SE, John Wood Group, Royal Dutch Shell, Sasol Limited, Siemens, Syngas Energy Holdings, SynGas Technology LLC, and The Linde Group.

Key Findings Of The Study

  • Based on gasifier, the fluidized bed gasifier is likely to witness the growth rate of 40.1%, in terms of revenue, during the forecast period.
  • On the basis of technology, the steam reforming segment emerged as the global leader with more than 39.6% share in 2019. 
  • By feedstock, the coal segment is anticipated to witness moderate growth rate of 69.8%, in terms of revenue, during the forecast period.
  • Depending on application, the chemicals segment dominated the global syngas market with around 61.3% global market share in 2019.
  • Countries such as China, India, and Indonesia are emerging as an investment-centric hubs due to wide scope in the manufacturing sector.

Impact Of Covid-19 On The Global Syngas Market

  • COVID-19 has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.   
  • Some of the major economies suffering the COVID-19 crises include Germany, France, Italy, Spain, the UK, and Norway. 
  • Syngas is primarily used in power generation, chemicals, and liquid fuels, and as an impact of national lockdown, these sectors were experiencing a slight decline in growth rate.
  • In many countries, the economy has dropped due to the halt of several industries, especially transport and supply chain. Demand for the product has been hindered as there is no development due to the implementation of lockdown. 
  • The demand–supply gap, disruptions in raw material procurement, and price volatility are expected to hamper the growth of the chemical industry during the COVID-19 pandemic.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Syngas Market by Gasifier (Moving Bed Gasifier, Fluidized Bed Gasifier, Entrained Flow Gasifier, and Others), Technology (Steam Reforming, Partial Oxidation, Auto-Thermal Reforming, Combined or Two-step Reforming, and Biomass Gasification), Feedstock (Natural Gas, Coal, Biomass/Waste, and Others), and Application (Power Generation, Chemicals, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Mar 2024

Hairbrush Market

Download Sample
rep-img

Published Date Mar 2024

Debt Security Market

Download Sample
rep-img

Published Date Mar 2024

Wood Adhesives Market

Download Sample

Buy Full Version
"Syngas Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers