Syngas Market Research Report – Global Forecast till 2030

Syngas Market: Information by Feedstock (Plastic Waste, Biomass, Petroleum Coke), Process (Steam Reforming, Partial Oxidation), Gasifier (Fixed Bed, Entrained Bed), Application (Industrial Gases, Chemical Synthesis), Region — Global Forecast till 2030

ID: MRFR/CnM/6018-HCR | September 2022 | Region: Global | 140 Pages         

Syngas Market

The global syngas market size is registered as $43.6billion in 2019 and is predicted to reach $66.5 billion by 2027 with a CAGR of 6.1% during the forecast period.

Segmentation

By Feedstock Plastic Waste Biomass Petroleum Coke
By Process Steam Reforming Partial Oxidation
By Gasifier Fixed Bed Entrained Bed
By Application Industrial Gases Chemical Synthesis

Key Players

  • 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)

Drivers

  • The primary driver of the global syngas market is flexibility and easy availability of raw materials for the production of syngas.
Speak to Analyst Request a Free Sample

Market Overview


Syngas is a synthesis gas that is manufactured by the combination of carbon dioxide, carbon monoxide, and hydrogen by the addition of methane and nitrogen. The ideal composition of syngas includes around 20-40% of hydrogen, 35-40% of carbon monoxide, 25-35% of carbon dioxide, 0-15 % of methane, and 2-5 % of nitrogen. Syngas is used as an intermediate to produce a wide range of fertilizers, fuels, solvent, and synthetic materials. Apart, it is also used for the production of chemicals like acetic acid, ammonia, urea, oxo chemicals, methanol, and dimethyl carbonate.


The global syngas market size is registered as $43.6billion in 2019 and is predicted to reach $66.5 billion by 2027 with a CAGR of 6.1% during the forecast period. Electricity generation is the major application of the syngas market. Syngas is the ideal choice for processing liquid and gaseous fuel. It is used to manufacture synthetic natural gas (SNG) used in the rail, marine, and road transport industries in form of liquefied natural gas (LNG) and compressed natural gas (CNG).


COVID-19 Analysis:


The COVID-19 pandemic has scattered to almost 213 countries all over the world in March 2020. The major economies suffering from this pandemic include Germany, Italy, France, Spain, the UK, and Norway. The primary usage of syngas is in power generation, chemicals, and liquid fuels. Due to the national lockdown, these sectors face slight falls in growth rate. Most of the economies have dropped due to the lockdowns, shutdowns of industries, transport and supply chain disruptions.


Due to the continuous lockdowns, the development of products has been reduced and hence hampers the demand for the product. The main reasons for hampering the growth of the chemical industry during this pandemic situation are the demand-supply gap, disruptions in raw material procurement, and price volatility. After the lockdowns off, rapidly syngas market increases its growth.


Market Dynamics:


Drivers:


The primary driver of the global syngas market is flexibility and easy availability of raw materials for the production of syngas. The chemical industries are growing across the globe which increases the demand for syngas in chemical synthesis. Syngas is used as fuel or lubricant to produce synthetic petroleum and also used as a fuel in internal combustion engines due to their combustible nature. Syngas is produced from waste materials and helps the environment to reduce the waste which causes environmental deterioration. Due to the recycling of waste products, syngas is an efficient means of energy production and environmentally friendly. Implementation of government policies to increase the use of renewable sources increases the market growth.


Restraint:


The production of syngas requires high funding and is capital-intensive which hampers the growth of the syngas market during the review period. The significant time required for building the operational plant with the installation of hi-tech gasification techniques.


Opportunities:


The concerns regarding urban waste are increasing and the need for energy management is expected to provide opportunities to propel the growth of the syngas market globally. By 2020, the syngas market is expected to reach 217,100 MW thermal at a CAGR of 9.65%. The reducing dependency on crude oil and its derivative products due to stringent government regulations and the development of underground coal gasification technology is predicted to enhance the opportunities for the growth of syngas manufacturers in the forthcoming years.


Challenges:


High capital investments are the major challenges of the syngas market.


Study Objectives -



  • To provide detailed information about the syngas market structure along with various forecast segments and sub-segments for the next 10 years.

  • To provide the factors that are affecting the growth of the syngas market value.

  • To analyze the syngas market based on porter’s five force analysis, factors-price analysis, supply chain analysis, etc.

  • To provide history and forecast revenue segments and sub-segments of the syngas market revenue for the four main geographies and their countries.

  • To provide the country-level analysis of the current syngas market size and future prospective.

  • To provide country-level analysis of the syngas market growth by region, form, and application.

  • To provide a strategic profile of the key players in the market, analyze their core competencies, and draw a global syngas market growth landscape.

  • To track and analyze new product developments, strategic alliances, and global syngas market research.


Segment Overview:


The global syngas market research has been segmented based on feedstock, gasifier, process, application, and region.


Based on Application


The application segment for the global syngas market is segmented into industrial gases, power generation, chemical synthesis, fuels, fertilizers, and others. In chemical synthesis, syngas is used for producing chemicals like ethanol, methanol, n-butanol, ammonia, oxo chemicals, and many more. Out of them, the chemical industry is the most utilized segment of syngas. It uses feedstocks that are most economical to produce.


Based on Feedstock


The global syngas market based on feedstock is segmented into plastic waste, water treatment plant sludge, petroleum coke, biomass, coal, municipal solid waste, and others. Out of these, the coal segment is predicted to dominate the market during the forecast period due to its high availability of coal for energy production and good compatibility of feedstock with different technologies for synthetic gases production.


Based on Gasifier


Based on the gasifier, the production of syngas includes fixed beds, fluidized beds, entrained beds, and others. Out of these, the fluidized bed gasifier segment holds a significant market share in 2019. These are used to enhance the turbulence for complete gasification of low quality, and low reactivity feedstocks.


Based on Process


The global syngas market based on the process is segmented into pyrolysis, gasification, steam reforming, partial oxidation, autothermal reforming, and others. The steam reforming segment is expected to dominate the global syngas market during the review period. Natural gas steam reforming is a reliable, cost-effective, and the most used method to produce hydrogen with energy protection and environmental benefits.


Based on Region


Regionally, the global syngas market is classified into Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific region dominates the market for its availability of raw materials and high demand for power generation.


Regional Analysis -


Region-wise, the global syngas market is divided into five regions like Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa. Asia-Pacific dominates the syngas market in 2017 due to the availability of raw materials and high demand for power generation. The increasing demand for fertilizers in major agricultural countries like India, Malaysia, Vietnam, and Taiwan are enhancing the demand for the syngas market.


Europe and North America are predicted to witness significant growth during the forecast period for the increasing demand as an intermediate for the production of chemicals. Apart from this, it is also used in major end-use industries like automotive, electronics, construction, aerospace, and military & defense.


Competitive Landscape


The prominent key players in the syngas market trends are the following:



  • Air Products and Chemicals, Inc (US)

  • Air Liquide (France)

  • The Linde Group (Germany)

  • Sasol (South Africa)

  • Shell (Netherlands)

  • Synthesis Energy Systems, Inc. (US) and

  • Yankuang Group (China)


Customer profile for Syngas



  • Methanex (Canada)

  • Yara International (Norway)

  • BASF SE (Germany) and

  • HELM AG (Germany).


Recent Developments


Jan 2022 London-listed Oracle Power has signed a non-binding memorandum of understanding (MoU) with Pakistan's Sui Southern Gas Co (SSGC) to develop a synthetic natural gas (syngas) project utilizing coal from Thar. The MoU establishes the basis for Oracle and SSGC to explore and carry out feasibility studies for the potential development, owning, operating, and sale of syngas from Thar coal to the Pakistani state-owned company. Syngas produced would be integrated into SSGC's transmission and a distribution network that delivers indigenous natural gas and regasified LNG to domestic, commercial, and industrial consumers.

Jan 2022 UK chemicals company Johnson Matthey Plc said that it had launched its reverse water-gas shift (RWGS) technology to convert carbon dioxide (CO2) and green hydrogen into sustainable aviation fuel (SAF). The company said that its proprietary HyCOgen RWGS technology is combined with the FT CANS Fischer Tropsch technology, developed with oil-and-gas major Bp Plc. It offered as an integrated solution to convert CO2 into hydrocarbon fuels. HyCOgen is a catalyzed process to convert green hydrogen and CO2 into carbon monoxide, combined with additional hydrogen to form synthesis gas also called syngas. In conjunction with FT CAN, the process can turn over 95% of the carbon dioxide into high-quality synthetic crude oil.

In May 2020, Linde PLC started a new syngas processing facility with an investment of USD 250 million in Southern Louisiana, United States. This is used for supplying carbon monoxide and hydrogen to different global chemical companies.

On 15 January 2019, Celanese Corporation decided to acquire a 365 tons per annum syngas production unit from the prominent company Linde PLC which is located in Pasadena, Texas, US. This acquisition helps the Celanese Corporation to produce raw materials for the world’s largest acetyl intermediates production facility.


Report Overview:


This global syngas market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market dynamics include the syngas market drivers, restraints, challenges, and opportunities. The syngas market forecast segments are feedstock, gasifier, process, application, and region.


Segmentation Table


The syngas market outlook is segmented into feedstock, gasifier, process, application, and region.


By Application


Industrial gases, power generation, chemical synthesis, fuels, fertilizers, and others. In chemical synthesis, syngas is used for producing chemicals like ethanol, methanol, n-butanol, ammonia, oxo chemicals, and many more.


By Feedstock


Plastic waste, petroleum coke, biomass, coal, municipal solid waste, water treatment plant sludge, and others.


By Gasifier


Fixed beds, fluidized beds, entrained beds, and others.


By Process


Pyrolysis, steam reforming, partial oxidation, gasification, autothermal reforming, and others.


By Region


Asia-Pacific, Europe, America, and the Middle East & Africa are the main geographies included in this market.



Report Scope:

Report Attribute/Metric Details
  Market Size

  • 2019: USD 43.6 Billion
  • 2030: USD 66.5 Billion
  •   CAGR   6.1%(2019–2030)
      Base Year   2019
      Forecast Period   2020-2030
      Historical Data   2018
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   By Feedstock, Gasifier, Application and Region
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   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),Customer profile for Syngas
      Key Market Opportunities   The concerns regarding urban waste are increasing and the need for energy management is expected to provide opportunities
      Key Market Drivers   The primary driver of the global syngas market is flexibility and easy availability of raw materials for the production of syngas.


    Speak to Analyst Ask for Customization

    Frequently Asked Questions (FAQ) :

    The global syngas market can elicit a demand of 217,000 MW by 2020.

    The global syngas market can exhibit a CAGR of 9.65% from 2016 to 2023.

    High need for the gas to be used in the production of various chemicals is the major driver of the global syngas market.

    The global syngas market growth is restrained by high production costs of syngas.

    Air Products and Chemicals, Inc (US), The Linde Group (Germany), Sasol (South Africa), Shell (Netherlands), Synthesis Energy Systems, Inc. (the US), Air Liquide (France), and Yankuang Group (China).