Syngas Market Size, Share, Growth, Industry & Revenue [2031]
Syngas Market Size, Share, Growth, Industry & Revenue [2031]
Segments - Syngas Market by Gasifier Types (Entrained Flow, Fixed Bed, Fluidized Bed, and Others), Technology (Partial Oxidation, Auto-Thermal Reforming, Steam Reforming, and Others), Feedstocks (Coal, Natural Gas, Biomass, and Others), End-user Industries (Chemicals, Liquid Fuels, Power Generation, Gaseous Fuels, and Others), and Regions (Asia Pacific, North America, Latin America, Europe and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
Upcoming
| Report ID :EP-4221
| 4.4 Rating
| 60 Reviews
| 166 Pages
| Format :
Report Description
The global syngas market size was valued at around USD 46.26 Billion in 2022 and is anticipated to reach USD 78.82 Billion by 2031 , expanding at a CAGR of around 6.1% during the forecast period, 2023-2031. The growth of the market is attributed to the growing demand for syngas for power generation industries and chemical industries.
Syngas, also known as synthesis gas, is a combination of carbon monoxide, hydrogen, and methane, hydrocarbons, and carbon dioxide in smaller quantities. It is derived from feedstocks such as coal, heavy oil, natural gas, and others.
Gasification of any carbon-containing fuel produces syngas. Gasification refers to a process that converts carbon-based raw materials into synthesis gas, also known as fuel gas. Gasification is a process of direct contact between air or steam and feedstock in a high temperature or high pressure vessel. This contact causes chemical reactions that converts feedstock into syngas. Syngas aids in reduction of carbon emission, converts waste into fuel, and generates renewable power.
Syngas Market Trends, Drivers, Restraints, and Opportunities
-
Rising demand for syngas from chemical industry is expected to drive the global syngas market during the forecast period.
-
Low energy cost and improved stability of syngas boost the market.
-
Increasing awareness regarding clean environment and environment protection is projected to fuel the market in the coming years.
-
Stringent government policies about use of renewable fuels spur the market.
-
High capital investments hamper the growth of the market.
-
Significant time needed to build an operational syngas plant hinders the growth of the market.
-
Developing underground coal gasification technology offers growth opportunities to the key market players.
Scope of Syngas Market Report
The report on the global syngas industry includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes |
Details |
|
Report Title |
Syngas Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
|
Base Year |
2022 |
|
Historic Data |
2016–2021 |
|
Forecast Period |
2023–2031 |
|
Segmentation |
Gasifier Types (Entrained Flow, Fixed Bed, Fluidized Bed, and Others), Technology (Partial Oxidation, Auto-Thermal Reforming, Steam Reforming, and Others), Feedstocks (Coal, Natural Gas, Biomass, and Others), and End-user Industries (Chemicals, Liquid Fuels, Power Generation, Gaseous Fuels, and Others) |
|
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
|
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
|
Key Players Covered in the Report |
Linde, Plc; Sasol Limited; Air Products, Inc.; Air Liquide; Haldor Topsoe A/S; BASF SE; Siemens AG; SynGas Technology, LLC; Syngas Energy Systems, Inc.; Shell, Plc; John Wood Group, Plc; Air Products and Chemicals, Inc.; and Others |
Syngas Market Segment Insights
Fluidized bed segment drives the market
Based on gasifier types, the market is divided into entrained flow, fixed bed, fluidized bed, and others. The fluidized market is expected to boost the market during the forecast period, as these types of gasifiers are commonly used to improve turbulence for complete gasification of low-quality feedstocks.
Steam reforming segment expands rapidly
In terms of technology, the market is segmented into partial oxidation, auto-thermal reforming, steam reforming, and others. The steam reforming segment is projected to drive the market during the forecast period, due to reliability, cost-effectiveness, wide usage to produce hydrogen, and environmental benefits.
Coal segment boosts the market
On the basis of feedstocks, the market is segregated into coal, natural gas, biomass, and others. The coal segment is anticipated to fuel the market during the forecast period, owing to high availability for energy production and high compatibility with various syngas production technologies. Increasing usage of coal in countries such as China and India drive the coal segment.
Chemicals segment holds a key market share
In terms of end-user industries, the market is divided into chemicals, liquid fuels, power generation, gaseous fuels, and others. The chemicals segment is expected to dominate the market during the forecast period, as the chemical industry uses feedstocks that are economical to produce or procure. Increasing use of syngas in processing of chemicals for petrochemicals, fertilizers, oxo chemicals, and others and rising demand for green chemicals for the synthesis and chemical intermediates are estimated to boost the market in the coming years.
Asia Pacific dominates the market
Based on regions, the market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is anticipated to register a significant CAGR during the forecast period, due to surging demand for syngas in countries such as India, China, and Japan to use in industries such as electricity, fuel, and chemicals. Increasing demand for fertilizers, growing fuel and electricity applications, rapid urbanizations, and rising demand for consumer goods and infrastructure facilitates the growth of the market in the region.
Segments
The global syngas market has been segmented on the basis of
Gasifier Types
- Entrained Flow
- Fixed Bed
- Fluidized Bed
- Others
Technology
- Partial Oxidation
- Auto-Thermal Reforming
- Steam Reforming
- Others
Feedstocks
- Coal
- Natural Gas
- Biomass
- Others
End-user Industries
- Chemicals
- Liquid Fuels
- Power Generation
- Gaseous Fuels
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Linde, Plc
- Sasol Limited
- Air Products, Inc.
- Air Liquide
- Haldor Topsoe A/S
- BASF SE
- Siemens AG
- SynGas Technology, LLC
- Syngas Energy Systems, Inc.
- Shell, Plc
- John Wood Group, Plc
- Air Products and Chemicals, Inc.
- Others
Competitive Landscape
The global syngas market trends are fragmented with the presence of key players such as Linde, Plc; Sasol Limited; Air Products, Inc.; Air Liquide; Haldor Topsoe A/S; BASF SE; Siemens AG; SynGas Technology, LLC; Syngas Energy Systems, Inc.; Shell, Plc; John Wood Group, Plc; Air Products and Chemicals, Inc.; and others, who use strategies such as product launches, mergers, acquisitions, collaborations, and partnerships to strengthen their hold on the market. For example, in May 2020, Linde, Plc announced a new facility for processing syngas to provide hydrogen and carbon monoxide to several global chemical companies. In March 2020, Haldor Topse A/S collaborated with Nacero, Inc., a developer of domestic energy and clean energy projects, for licensing and basic engineering for a planned natural-as-to-gasoline facility in Casa Grande, Arizona.
Frequently Asked Questions
The market is estimated to register CAGR of around 6.1% during the forecast period.
The global syngas market size was valued at around USD 46.26 billion in 2022 and is anticipated to reach around USD 78.82 billion by 2031.
Gasification refers to a process that converts carbon-based raw materials into synthesis gas, also known as fuel gas.
Syngas, also known as synthesis gas, is a combination of carbon monoxide, hydrogen, and methane, hydrocarbons, and carbon dioxide in smaller quantities.
Asia Pacific dominates the global syngas market.
Linde, Plc; Sasol Limited; Air Products, Inc.; Air Liquide; Haldor Topsoe A/S; BASF SE; Siemens AG; SynGAs Technology, LLC; Syngas Energy Systems, Inc.; and Shell, Plc are some of the key players in the market.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Syngas Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Syngas Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Syngas Market - Supply Chain
4.5. Global Syngas Market Forecast
4.5.1. Syngas Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Syngas Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Syngas Market Absolute $ Opportunity
5. Global Syngas Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Syngas Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Syngas Demand Share Forecast, 2019-2026
6. North America Syngas Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Syngas Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Syngas Demand Share Forecast, 2019-2026
7. Latin America Syngas Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Syngas Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Syngas Demand Share Forecast, 2019-2026
8. Europe Syngas Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Syngas Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Syngas Demand Share Forecast, 2019-2026
9. Asia Pacific Syngas Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Syngas Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Syngas Demand Share Forecast, 2019-2026
10. Middle East & Africa Syngas Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Syngas Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Syngas Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Syngas Market: Market Share Analysis
11.2. Syngas Distributors and Customers
11.3. Syngas Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. Linde, Plc
11.4.2. Sasol Limited
11.4.3. Air Products, Inc.
11.4.4. Air Liquide
11.4.5. Haldor Topsoe A/S
11.4.6. BASF SE
11.4.7. Siemens AG
11.4.8. SynGas Technology, LLC
11.4.9. Syngas Energy Systems, Inc.
11.4.10. Shell, Plc
11.4.11. John Wood Group, Plc&
Methodology
Related Reports
Some other reports from this category!
Our Clients
