Syngas Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Syngas Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global syngas market size reached 218.9 MM Nm3/h in 2022. Looking forward, IMARC Group expects the market to reach 382.9 MM Nm3/h by 2028, exhibiting a growth rate (CAGR) of 9.5% during 2023-2028.

Syngas, or synthesis gas, is a fuel gas mixture of carbon monoxide, hydrogen, carbon dioxide and trace gases. It is produced through gasification of carbon-containing fuel such as coal when it is exposed to heat, air and water in a closed space. Since syngas has over half of the energy density of natural gas, it can be easily burnt and used as a fuel source. It is carbon-rich and is extensively used to generate Synthetic Natural Gas (SNG), oxo-chemicals, dimethyl ether, hydrogen and ammonia or methanol for industrial applications. It is also used to produce a variety of fertilizers, solvents, fuels and synthetic materials.

Growing demand for syngas from the chemical industry is one of the key factors driving the market growth. Furthermore, syngas is primarily used to produce SNG that is used in the form of Liquified Natural Gas (LNG) and Compressed Natural Gas (CNG) in rail, marine and road transportation industries. It can also be used to fuel gas engines for power supply owing to benefits such as low energy costs, increased stability and predictability. Moreover, the development of underground coal gasification (UCG) method is also creating a positive outlook for the market. It facilitates the completion of in-situ gasification process that converts coal into syngas. This is catalyzing the market growth as it reduces the need to transport the feedstock to the gasification plants, which consequently provides significant cost benefits. Additionally, growing environmental consciousness and stringent government regulations regarding the usage of clean fuels are also significantly contributing to the market growth. Syngas is crucial in reducing the waste pollution in landfills and greenhouse gases from the atmosphere.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global syngas market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on gasifier type, feedstock, technology and end-use.

Breakup by Gasifier Type:

Fixed Bed
Fluidized Bed
Entrained Flow

Breakup by Feedstock:

Coal
Natural Gas
Petroleum
Pet-Coke
Biomass and Waste

Breakup by Technology:

Steam Reforming
Partial Oxidation
Combined or Two-Step Reforming
Auto Thermal Reforming
Others

Breakup by End-Use:

Chemicals
Ammonia
Gas to liquid
Hydrogen
Methanol
N-Butanol
Dimethyl Ether
Liquid Fuels
Gaseous Fuels
Power Generation

Breakup by Region:

Asia Pacific
Europe
North America
Middle East and Africa
Latin America

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Air Products and Chemicals, Air Liquide SA, BASF SE, BP PLC, Royal Dutch Shell plc (Shell plc), Siemens AG, Linde plc, General Electric (GE) Company, Dakota Gasification Company, SynGas Technology LLC, TechnipFMC PLC, OXEA GmbH, Yara International ASA, John Wood Group PLC, and ECUST.

IMARC Group’s latest report provides a deep insight into the global syngas market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the syngas market in any manner.

Key Questions Answered in This Report:

How has the global syngas market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global syngas industry?
What are the key regional markets in the global syngas industry?
What is the breakup of the market based on the gasifier type?
What is the breakup of the market based on the feedstock?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the end-use?
What are the various stages in the value chain of the global syngas industry?
What are the key driving factors and challenges in the global syngas industry?
What is the structure of the global syngas industry and who are the key players?
What is the degree of competition in the global syngas industry?