Syngas and Derivatives Market Projected to Reach 256,605 MWth by 2024: Transparency Market Research

Transparency Market Research has published a new report titled “Syngas and Derivatives Market for Chemicals, Power Generation, Liquid Fuels and Gaseous Fuels End-user – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2024.” According to the report, the global consumption of syngas derivatives market was 115,000 MWth in 2015 and is anticipated to reach 256,605 MWth by 2024, rising at a CAGR of 9.4% between 2016 and 2024.

Asia Pacific region held the major share of the syngas and derivatives market accounting for more than 50% in 2015. Large availability of coal and natural gas reserves along with increasing urbanization, infrastructural developments and new discoveries regarding oil & gas has been prominent factors driving the syngas and derivatives market in the region. North America combined with Europe held more than 20% share of the total consumption of syngas and derivatives market in 2015. The market in Middle East & Africa is anticipated to exhibit rapid growth during the forecast period due to rapid development of syngas projects in the region.

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In terms of country, China constituted significant share of the global syngas and derivatives market in 2015. The large availability of coal and natural gas reserves along with lower prices of coal boosted the market in the country. 65% of the capacity addition is expected through coal gasification largely in China of which 36% of capacity is under construction. In terms of production technology, partial oxidation and steam reforming segments followed the biomass gasification segment owing to increased investment in natural gas in the region. India’s investment in natural gas is high, despite cost advantage of coal over natural gas. In Europe, Germany is the current leader of syngas production, with the country playing home to more than 12 syngas plants for the production of gaseous fuel and chemicals.

Middle East & Africa region accounted for good share of syngas and derivatives market and is projected to be a beneficial market for the product by 2024, driven by the increasing usage of syngas for electricity and power generation. The demand for the product in Latin America is anticipated to grow at a steady rate between 2016 and 2024.

Lack of funds and high capital requirements have proven to be major restraints for the market. The time required for building a plant from the initial design phase to its completion is considerably high, which results in overshooting of the budget. However, focus toward advanced technology and reducing dependence on crude oil continues to strengthen the market.

Major companies operating in the market includes Air Products and Chemicals Inc., Air Liquide SA, BASF SE, Sasol Limited, Siemens Ag and others.

The fuel dispensers market has been divided into the following segments:

Syngas and Derivatives Market – Feedstock Analysis

  • Coal
  • Petroleum
  • Natural Gas/Biomass Waste
  • Others

Syngas and Derivatives Market – Production Technology Analysis

  • Partial Oxidation
  • Steam Reforming
  • Biomass Gasification
  • Others

Syngas and Derivatives Market – End-user Analysis

  • Chemicals
  • Power Generation
  • Liquid Fuels
  • Gaseous Fuels

Syngas and Derivatives Market – Region Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • Egypt
    • South Africa
    • Rest of Middle East & Africa

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.


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