Syngas Market 2019 Growth Rate, Revenue, Manufacturers, Customer Needs and Forecast to 2023

Syngas Market 2019 Growth Rate, Revenue, Manufacturers, Customer Needs and Forecast to 2023

Market Overview:

The Global Syngas Market is expected to witness a significant growth during the forecast period owing to its extensive use as an intermediate for production of fertilizers, fuels, solvent, and synthetic materials. The various chemicals produced using syngas include acetic acid, ammonia, urea, oxo-chemicals, methanol, and dimethyl carbonate. The growth of the chemicals industries across the globe on the backdrop of growth of complimenting industries such as construction, automotive, aerospace, and agriculture, is a primary factor influencing the demand for syngas.

Competitive Analysis:

Some of the prominent players operating in the Global Syngas Market are Air Products and Chemicals, Inc (US), Air Liquide (France), The Linde Group (Germany), Sasol (South Africa), Shell (Netherlands), Synthesis Energy Systems, Inc. (US), Yankuang Group (China). This report also includes customer profile for syngas such as Methanex (Canada), Yara International (Norway), BASF SE (Germany), and HELM AG (Germany).

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Regional Analysis:

Regionally, the global market has been segmented into five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.

Asia-Pacific accounted for the largest market share in 2017 owing to the high demand for power generation in the region as well as the availability of raw materials. Moreover, the high demand for fertilizers in the major agricultural countries such as Taiwan, India, Malaysia, and Vietnam are fueling the demand for syngas. The growing chemical sector in Asia-Pacific also drives the demand for syngas during the forecast period.

The market in Europe and North America is expected to witness significant growth during the forecast period, on account of the high demand for Syngas as and intermediate for production of chemicals.

Market Segmentation:

The Global Syngas Market has been segmented by Feedstock, Process, Gasifier, Application and Region.

By Feedstock, the market is segmented into plastic waste, biomass, petroleum coke, coal, municipal solid waste, water treatment plant sludge, and others. Among these, coal is the leading segment as it is abundantly available and provides cleanest method to convert coal into hydrogen, electricity, and other valuable products. Furthermore, the gasification of coal has low sulphur and nitrogen oxides emission levels, which makes it environment-friendly.

Based on the Process, the market has been segmented into pyrolysis, gasification, steam reforming, partial oxidation, autothermal reforming, and others. The gasification process is widely used for producing syngas owing to certain advantages as compared to conventional process. The advantages include requirement of low amount of oxygen, which limits the formation of dioxins and of large quantities of sulphur and nitrogen oxides. This process requires low volume of process gas, which results in need of smaller and less expensive gas cleaning equipment.

On the Basis of Gasifier, the market is segmented into fixed bed, entrained bed, fluidized bed, and others. Fluidized bed gasifiers accounted for the largest market share in 2017 as they have strong gas-to-solids contact, excellent heat transfer characteristics, better temperature control, large heat storage capacity, a good degree of turbulence, and high volumetric capacity. However, they operate at pressures slightly above atmospheric levels, respond slowly to load changes, and expensive control systems, which makes it difficult for these beds to be used at small-scale levels.

Based on Application, the market has been segmented into industrial gases, chemical synthesis, fuels, power generation, fertilizers, and others. The chemical synthesis dominated the global market in 2018 due to the high demand for syngas in production of various other chemicals. The growth of the chemical industries across the globe is a major driver of the Global Syngas Market. The chemical synthesis segment is further segmented into ethanol, methanol, ammonia, oxo chemicals, n-butanol, dimethyl ether, dimethyl carbonate, sulfates, and others.

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