Global Syn Gas Market - Segmented by Technology, Feedstock, Gasifier Type, End-user Industry, and Geography - Growth, Trends, and Forecast (2022 - 2030)

The global syn gas market is expected to grow at a high rate during the forecast period of 2018 - 2023. Asia-Pacific is estimated to lead the market owing to the growing energy consumption and availability of abundant coal reserves. Power generation is expected to be the largest end-use market.

Feedstock Flexibility for Syngas Production

Syngas is produced from natural gas, naphtha, coal, heavy oils, pet coke, biomass, and municipal waste. Increasing need for alternative fuel sources and limited availability of conventional fuel has increased the production of syngas, globally. Syngas can be produced from a variety of feedstock, which has little effect on the quality of syngas. In addition, the cost of production of syngas is directly related to the cost of feedstock, which gives manufacturers the flexibility to use any feedstock. This flexibility in the use of feedstock for the production of syngas is driving the market for syngas, globally.

Power Generation End-use to Dominate the Market

Power generation end-use will continue to dominate the market for syngas during the forecast period. High level of economic growth and improvement in quality of life in emerging economies, such as China, India, South Korea, Brazil, and South Africa, among others is expected to drive the power generation end-use. According to International Energy Outlook 2017, the world's net electricity generation is expected to increase to 28% by 2040, from 16.85 trillion kilowatt-hours (kWh) in 2015 to 21.57 trillion kWh in 2040. This increase in consumption of electricity from the residential and commercial sector and the rising demand for low-cost energy is expected to drive the power generation end-use market, which, in turn, is likely to drive the syngas market in the forecast period.

Asia-Pacific Region to Lead the Market

Asia-Pacific is projected to dominate the syngas market, during the forecast period, due to growing energy consumption. Higher economic growth coupled with increase in electricity consumption in countries, such as China, India, South Korea, Indonesia, and Taiwan has increased the production of syngas. In addition, increase in governmental regulations related to emissions and particulate reduction, coupled with the increase in investment on small-scale biomass and waste-based gasification for the production of clean energy is expected to drive the market for syngas in the Asia-Pacific region during the forecast period.



Notable Developments in the Market

October 2017: Praxair Inc., an industrial gas company signed an agreement with BASF SE to construct a syngas processing plant at BASF's campus in Geismar, Germany.

Major Players: Agrium Inc., BASF SE, BP Global, CF Industries Holdings Inc., and ConocoPhillips Co., among others.

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