Syngas Market 2022 | Exclusive Top Players Profit-Oriented Business Strategies Analysis Report with Forecast to 2030
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Increasing investment for power generation in various countries and rapid adoption of underground coal gasification process are driving global syngas market
VANCOUVER, BC, CANADA, November 8, 2022 /EINPresswire.com/ -- The Syngas Market report assesses the historical and current data along with a thorough analysis of the market dynamics. The report also sheds light on the significant market growth driving and restraining factors that are anticipated to influence the market growth through the forecast period. The Global Syngas Market studies the market scenario to offer growth projections for the Syngas industry for the forecast period of 2022-2030. The report focuses on potential growth opportunities and limitations the prominent players of the industry might face during the entirety of the forecast timeline.
The global syngas market size was USD 48.71 Billion in 2021 and is expected to register a revenue CAGR of 5.9% over the forecast period, according to the latest analysis by Emergen Research. Increasing investment in power generation in various countries and rapid adoption of Underground coal gasification (UCG) process are driving demand for syngas. In addition, increasing demand for alternative and renewable sources of fuel is expected to drive revenue growth of the market.
UCG process converts underground coal into a mixture of gaseous products. Methane, hydrogen, carbon monoxide, and carbon dioxide are the primary byproducts. Syngas is a mixture of hydrogen and carbon monoxide that can be used to create liquid fuel or synthetic natural gas. To inject and extract gas in UCG, wells are drilled deep into the coal seam. In principle, coal can be burned underground at high pressure to create the gases by pumping air or oxygen into the coal seam; these gases are then retrieved through separate wells to the surface. UCG does away with the requirement for mining, as well as the related risks to miners and environmental damage. Due to the fact that only one-sixth to one-eighth of the world's coal reserves can be commercially mined, it also converts deep or difficult-to-access coal seams into useful energy resources. According to experts, UCG could raise the U.S. reserves of useable coal by 300%. Rapid adoption of the UCG process is driving revenue growth of the market.
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Some Key Highlights From the Report
On 13 September 2019, Air Products Inc. announced a Joint Venture (JV) with Debang Xinghua Technology Co. Ltd. to build, own and operate a new processing facility that converts coal to syngas in the province of Jiangsu, China. The JV is located in Lianyungang City's Xuwei National Petrochemical Park, and 80% of it is owned by Air Products and 20% of it is owned by Debang Group.
The steam reforming segment revenue is expected to account for largest revenue share over the forecast due to higher production of hydrogen compared to other methods. In addition, rapid adoption of the process of steam reforming for syngas production in industries is driving revenue growth of the segment
The Entrained Flow Gasifier (EFG) segment accounted for a larger market share in 2021. Large-scale coal gasification systems employ EFG technology to produce high-quality syngas for commercial use. Entrained-flow gasifiers can process almost any type of coal feedstock, producing syngas that is clean and tar-free.
The biomass segment is expected to register a rapid revenue growth rate over the forecast period. Plants and algae can be used to make fuels like syngas, methanol, ethanol, and biodiesel, and are known as biomass feedstocks. Feedstocks like sugarcane, straw, corn, and wood are used to make syngas
Competitive Landscape:
The latest study provides an insightful analysis of the broad competitive landscape of the global Syngas market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Syngas market and pinpoint the fundamental growth trends.
Companies profiled in the global Syngas market:
Air Products Inc., KBR Inc., Linde plc, Siemens, Haldor Topsoe A/S, Air Liquide, BASF SE, Synthesis Energy Systems, Inc., Dow Inc., and Sasol Limited
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Market Dynamics:
The report offers insightful information about the market dynamics of the Syngas market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Syngas market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Syngas market.
Segments Covered in this report are:
By Production Technology Outlook (Revenue, USD Billion, 2019–2030)
Steam Reforming
Partial Oxidation
Auto-Thermal Reforming
Two-step Reforming
Biomass Gasification
Gasifier Type Outlook (Revenue, USD Billion, 2019–2030)
Moving Bed Gasifier
Fluidized Bed Gasifier
Entrained Flow Gasifier
Others
Feedstock Outlook (Revenue, USD Billion, 2019–2030)
Coal
Natural Gas
Petroleum Byproducts
Biomass
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Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Research Report on the Syngas Market Addresses the Following Key Questions:
Who are the dominant players of the Syngas market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Syngas market?
What are the key growth drivers and restraining factors of the Syngas market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Syngas market and its key segments?
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