NEW YORK, United States, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Syngas & Derivatives Market By Production Technology (Steam Reforming, Partial Oxidation, Autothermal Reforming, Biomass Gasification, Others (Plasma Gasification, Heat Exchange Reforming, Underground Coal Gasification)), By Gasifier Type (Fixed (Moving) Bed Gasifier, Entrained Flow Gasifier, Fluidized Bed Gasifier, Others (Plasma Arc Gasifier, Black Liquor Gasifier)), By Feedstock (Coal, Natural Gas, Petroleum Byproducts, Biomass/Waste, Others (Petcoke, Plastic Waste, Medical Waste)), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Syngas & Derivatives Market size & share was valued at approximately 245,472 MWth in 2021. The market is expected to grow above a CAGR of 10.10% and is anticipated to reach over 437,246.03 MWth by 2028.”
The report analyzes the syngas & derivatives market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the global syngas & derivatives market.
Syngas & Derivatives Market Overview:
Gases like synthetic gas, or syngas, are raw gases made from hydrocarbon feedstocks. They are composed primarily of hydrogen (H2) and carbon monoxide (CO), with secondary components including carbon dioxide (CO2) and methane (CH4). These two substances are combined and gasified to create syngas, which can be used for chemical reactions, power generation, and fuel manufacturing. It typically contains carbon because it is made from materials such as coal, petroleum, natural gas, and others.
Syngas is the greatest substitute for creating liquid and gaseous fuel. Among other industries, syngas is used in chemicals, electricity generation, and liquid fuels.
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Key Insights from Primary Research
- As per the analysis, the syngas & derivatives market is likely to grow above a CAGR of around 10.10% between 2022 and 2028.
- The Syngas & Derivatives market size was worth around 245,472 MWth in 2021 and is estimated to hit approximately 437,246.03 MWth by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Environmental constraints, the introduction of clean technologies, a rapidly growing population and surging demand for electricity are the major factors driving the market's growth.
- By production technology, the biomass gasification category dominated the market in 2021.
- By gasifier type, the fixed (moving) bed gasifier category dominated the market in 2021.
- The Asia Pacific dominated the global syngas & derivatives market in 2021.
Industry Dynamics
Due to environmental restrictions, the advent of clean technology, a fast-expanding population, and soaring electricity demand, demand for syngas and derivatives has skyrocketed. Due to high pollution levels, governments in several countries are promoting clean technologies. The global market seems poised for strong expansion in light of these ideas and actions. Reducing reliance on fossil fuels is one of the main factors driving the global syngas and derivatives market. Players in the syngas and derivatives markets will probably gain from the growing usage of syngas as a liquid and gas replacement.
Syngas and derivatives are also in greater demand due to their expanding use across various sectors. It is significant to highlight that certain obstacle, such as expensive capital expenditures and the time required to set up the operation using high-tech gasification procedures, limit market growth. The plants must be built in locations where the feedstock is accessible throughout the year, which is another crucial consideration.
The coronavirus pandemic also badly impacts the market for syngas and derivatives. Syngas and derivatives have seen negative growth due to a strict lockdown, suspended commercial and manufacturing operations, and nations placing significant transmission limits.
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Competitive Players
The report contains qualitative and quantitative research on the global Syngas & Derivatives Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness.
Some of the main players in the global Syngas & Derivatives market include;
- Alphabet Sasol Limited
- Haldor Topsoe A/S
- Air Liquide S.A.
- Siemens AG
- Air Products and Chemicals Inc.
- KBR Inc.
- Linde plc
- BASF SE
- TechnipFMC PLC
- McDermott International Inc.
- Mitsubishi Heavy Industries Ltd.
- Chiyoda Corporation
- Synthesis Energy Systems Inc.
- Yara International ASA
- Methanex Corporation
- CF Industries Holdings Inc.
- Dow Inc.
- John Wood Group PLC.
Browse the full “Syngas & Derivatives Market By Production Technology (Steam Reforming, Partial Oxidation, Autothermal Reforming, Biomass Gasification, Others (Plasma Gasification, Heat Exchange Reforming, Underground Coal Gasification)), By Gasifier Type (Fixed (Moving) Bed Gasifier, Entrained Flow Gasifier, Fluidized Bed Gasifier, Others (Plasma Arc Gasifier, Black Liquor Gasifier)), By Feedstock (Coal, Natural Gas, Petroleum Byproducts, Biomass/Waste, Others (Petcoke, Plastic Waste, Medical Waste)), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” Report at https://www.fnfresearch.com/syngas-and-derivatives-market
Syngas & Derivatives Market: Segmentation Analysis
The syngas & derivatives market is segregated based on production technology, gasifier type, feedstock and region.
Based on production technology, the market is divided into steam reforming, partial oxidation, autothermal reforming, biomass gasification, and others (plasma gasification, heat exchange reforming, and underground coal gasification). Among these, the biomass gasification segment led the market in 2021 and is expected to maintain its dominance throughout the forecast period.
Based on gasifier type, the market is classified into fixed (moving) bed gasifiers, entrained flow gasifiers, fluidized bed gasifiers, and others (plasma arc gasifier and black liquor gasifier). In 2021, the fixed (moving) bed gasifier category dominated the global market. Based on feedstock, the market is classified into coal, natural gas, petroleum byproducts, biomass/waste and others (petcoke, plastic waste, and medical waste). The coal segment dominated the market in 2021.
Regional Analysis:
The syngas & derivatives market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
In 2021, the Asia Pacific dominated the global market for syngas & derivatives. Demand for syngas & derivatives will rise as the region's chemical, fuel, and electrical industries expand, particularly in China and India. Economies like China and India are the main producers of coal-derived syngas and their derivatives. As a result, the Asia Pacific coal segment expansion drives most of the syngas demand. Additionally, a developing energy sector, particularly in Japan, China, India, South Korea, and Taiwan, is anticipated to be beneficial for syngas and derivatives markets.
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Recent Industry Developments:
- April 2019: Australian Future Energy Pty Ltd and Synthesis Energy Technologies LLC entered a technology purchase option agreement. Synthesis Energy Technologies LLC owns the SES gasification technology and related global business undertakings.
- February 2019: New syngas production has begun at a Praxair facility in Geismar, Louisiana, a wholly owned subsidiary of Linde Plc.
Key questions answered in this report:
- What is the market size and growth rate forecast for Syngas & Derivatives industry?
- What are the main driving factors propelling the Syngas & Derivatives Market forward?
- What are the leading companies in the Syngas & Derivatives Industry?
- What segments does the Syngas & Derivatives Market cover?
- How can I receive a free copy of the Syngas & Derivatives Market sample report and company profiles?
Report Scope:
| Report Attribute | Details |
| Market Size in 2021 | 245,472.00 MWth |
| Projected Market Size in 2028 | 437,246.03 MWth |
| CAGR Growth Rate | 10.10% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market Players | Alphabet Sasol Limited, Haldor Topsoe A/S, Air Liquide S.A., Siemens AG, Air Products and Chemicals Inc., KBR Inc., Linde plc, BASF SE, TechnipFMC PLC, McDermott International Inc., Mitsubishi Heavy Industries Ltd., Chiyoda Corporation, Synthesis Energy Systems Inc., Yara International ASA, Methanex Corporation, CF Industries Holdings Inc., Dow Inc., John Wood Group PLC., and others. |
| Key Segment | By Production Technology, Gasifier Type, Feedstock, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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The global syngas & derivatives market is segmented as follows:
By Production Technology
- Steam Reforming
- Partial Oxidation
- Autothermal Reforming
- Biomass Gasification
- Others (Plasma Gasification, Heat Exchange Reforming, and Underground Coal Gasification)
By Gasifier Type
- Fixed (Moving) Bed Gasifier
- Entrained Flow Gasifier
- Fluidized Bed Gasifier
- Others (Plasma Arc Gasifier and Black Liquor Gasifier)
By Feedstock
- Coal
- Natural Gas
- Petroleum Byproducts
- Biomass/Waste
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key Offerings:
- Market Size, Trends, & Forecast by Revenue | 2022−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Production Technology, Gasifier Type, Feedstock, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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