Syngas Market to Reach a Volume of 382.9 MM Nm3/h by 2028 | CAGR of 9.5%

SHERIDAN, WYOMING, UNITED STATES, March 15, 2023 /EINPresswire.com/ -- The latest report by IMARC Group, titled "Syngas Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," finds that the global syngas market size reached 218.9 MM Nm3/h in 2022. Looking forward, IMARC Group expects the market to reach a volume of 382.9 MM Nm3/h by 2028, expanding at a CAGR of 9.5% during the forecast period (2023-2028).

Syngas, also known as synthetic gas, refers to a highly combustible gas mixture consisting of hydrogen, carbon monoxide and smaller quantities of carbon dioxide and other trace gases. It is produced through the pyrolysis or gasification of carbonaceous materials, such as biomass, waste products, coal, and petroleum. It can also be derived from the electrocatalytic reduction of carbon dioxide. Since syngas is rich in carbon, it is widely used to manufacture Synthetic Natural Gas (SNG), dimethyl ether, oxo-chemicals, hydrogen and ammonia or methanol for various industrial applications. Nowadays, it also finds extensive applications in the production of fertilizers, solvents, fuels and synthetic materials.

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Global Syngas Market Growth:

The increasing applications of syngas across various end use industries represent the primary factor driving the market growth. For instance, syngas is extensively used to generate SNG that is utilized in the form of Compressed Natural Gas (CNG) and Liquified Natural Gas (LNG) across the transportation sector. Additionally, the rising usage of syngas as a fuel in power generation and internal combustion engines is another major growth-inducing factor. Besides this, the growing product adoption to manufacture diesel and gasoline, and the rising applications of syngas in waste management have augmented the product demand. Furthermore, several key players are making heavy investments in integrated gasification combined cycle (IGCC) plants to enhance their power generation efficiency and environmental performance. Along with this, the development of the underground coal gasification (UGC) process to convert coal into syngas without the need for transporting feedstock to the gasification plants has propelled the market growth. Other factors, including the rising electricity and fuel demand, stringent government regulations, growing environmental concerns, and technological advancements, are also creating a favorable market outlook.

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Key Market Segmentation:

Leading Syngas Companies:

• 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
• ECUST

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

Regional Insights:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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