Middle-East and Africa Syngas Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Middle-East and Africa Syngas Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Middle-East and Africa syngas market is estimated to witness a significant growth, at an estimated CAGR of over 7%, over the forecast period. Growing chemical industry and growing demand for electricity are expected to drive the market during the forecast period.

Key Highlights

• High capital investment and funding is likely to hinder the market’s growth.
• Development of underground coal gasification technology is likely to create opportunities to the market growth in the future.
• Saudi Arabia is expected to dominate the market and is also expected to witness the fastest CAGR during the forecast period.

Key Market TrendsIncreasing Usage in Power Generation Industry

• The power industry is the backbone of the industrial sector that supplies essential energy to industrial, commercial, manufacturing, and residential customers.
• Synthesis gas plays a huge role in power generation, as it is used as an intermediate in creating synthetic natural gas (SNG), which has various application, such as:
• IGCC plants use gasifiers that convert coal or any other carbon-based materials to syngas, which is used in driving a combined cycle turbine to generate electricity. IGCC plants can achieve efficiencies of 45% and have low emissions, since the fuel is cleaned before it is fired in the gas cycle turbine.
• Biogas, which is a form of renewable energy, can be obtained through thermochemical gasification of synthetic gas.
• Gasification and pyrolysis processes produce a combustible synthetic gas that can either be used to produce electricity, or further refined and upgraded for direct generation in a gas turbine or engine.
• The aforementioned factors have been boosting the demand for syngas in the region, in the recent times.

Saudi Arabia to Dominate the Market

• The market openness and investment opportunities were less, when compared to the other emerging economies. However, the government in its 10th development plan, is reforming the economic plans, with investments in diversified sectors, and is trying to attract private investments in the country, in order to make it a diversified economy that is not dependent on oil.
• Due to various government policies in the oil refinery sector along with company acquisitions, the Saudi Arabian refining catalyst market is expected to grow during the forecast period.
• Many investments and collaborations in the petrochemical sector are coming up in the country, which are likely to provide opportunities for the growth of the syngas market in the coming years.
• Saudi Aramco and SABIC have also signed a memorandum of understanding to build a USD 20 billion worth complex, in order to convert crude oil into chemicals, in the country. The operation is expected to start in 2025, processing around 400 thousand barrels per day of crude oil, to produce about 9 million metric ton of chemicals.
• All the aforementioned factors, in turn, are expected to boost the demand for syngas in the country.

Competitive Landscape

The Middle-East and Africa syngas market is fragmented in nature. Key players in the market include Air Products and Chemicals, Inc., Linde plc, Air Liquide, and Royal Dutch Shell plc, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.