Global Syngas and Derivatives Market: Snapshot
The global syngas market has been demonstrating a substantial rise in its size over the recent times. The burgeoning need to reduce the dependency on fossil fuels, as there is a finite number of fossil fuel reserves across the world, has been the key driving force behind the significant rise in this market. Apart from this, the increasing usage of derivatives in various industrial applications is also boosting the demand for syngas and derivatives substantially.
In 2015, the global consumption of syngas and derivatives was 115,000 MWth. Thanks to the rising demand for fuel, electricity, and agricultural products, it is anticipated to rise at a CAGR of 9.40% between 2016 and 2024 and cross a 256,605 MWth mark by the end of 2024. Although the market points towards a thriving future, it may face some hindrances from the dearth of considerable capital investment and funding over the next few years.
Biomass Gasification to Remain Most Demanded Technology
Partial oxidation, steam reforming, and biomass gasification are the key technologies utilized for the production of syngas and derivatives. Among these, biomass gasification is the most-utilized technology for production of syngas and derivatives, as, with this technology, the organic/fossil fuel-based carbonaceous materials, such as biomass and coal, can be converted into syngas, carbon monoxide, hydrogen, and carbon dioxide. A continued strong demand for this technology is predicted across the world in the years to come.
The demand for steam reform technology is also increasing steadily and is expected to pick up pace over the forthcoming years. In steam reforming technology, natural gas is used as a feedstock to produce syngas. Hydrogen, carbon monoxide, and several other useful products are also produced during the process. Partial oxidation technology, which held a meager share in the overall syngas and derivatives market, is anticipated to witness increased demand in the near future.
Asia Pacific to Remain on Top in Global Syngas and Derivatives Market
Asia Pacific, the Middle East and Africa, North America, Europe, and Latin America are the main geographical segments of the worldwide market for syngas and derivatives. With a share of more than 52%, Asia Pacific dominated the global market in 2015. Analysts predict this regional market to retain its lead over the next few years, thanks to the ample availability of coal and natural gas reserves, together with the rising urbanization, developments in the infrastructure, and the new discoveries in the field of oil and gas.
Among other regions, the Middle East and Africa is likely to witness strong growth in its market for syngas and derivatives in the near future due to the rising utilization of syngas for electricity and power generation. On the other hand, Latin America, North America, and Europe are anticipated to exhibit a sluggish rise in their respective markets over the forthcoming years.
At the forefront of the global market for syngas and derivatives are The Linde Group, Syngas Technology LLC, Siemens AG, Sasol Ltd., Haldor Topsoe A/S, Chicago Bridge & Iron Co. N.V., BASF SE, Air Products & Chemicals Inc., AMEC Foster Wheeler Plc., and Air Liquide SA.
Global Syngas and Derivatives Market: Overview
Syngas is a mixture comprising of hydrogen, carbon monoxide, and very often some carbon dioxide. It normally contains carbon in it as it is derived from feedstock such as coal, petroleum, natural gas and others. It is majorly used as a fuel and for manufacturing of other chemicals. Chemicals, power generation, liquid fuels and gaseous fuels are the major end-user industry where syngas finds application.
The report estimates and forecasts the syngas and derivatives market on the global, regional, and country levels. The study provides forecast between 2016 and 2024 based on volume (MWth) with 2015 as the base year. The report comprises an exhaustive value chain analysis for each of the product segments. It provides a comprehensive view of the market. Value chain analysis also offers detailed information about value addition at each stage. The study includes drivers and restraints for the syngas and derivatives market along with their impact on demand during the forecast period. The study also provides key market indicators affecting the growth of the market. The report analyzes opportunities in the syngas and derivatives market on the global and regional level. Drivers, restraints, and opportunities mentioned in the report are justified through quantitative and qualitative data. These have been verified through primary and secondary resources.
The report includes Porter’s Five Forces Model to determine the degree of competition in the syngas and derivatives market. The report comprises a qualitative write-up on market attractiveness analysis, wherein applications and countries have been analyzed based on attractiveness for each region. Growth rate, market share, raw material availability, impact strength, technology, competition, and other factors (such as environmental and legal) have been evaluated in order to derive the general attractiveness of the market.
Global Syngas and Derivatives Market: Segmentation
The study provides a comprehensive view of the syngas and derivatives market by dividing it on the basis of end-user and geography segments. The syngas and derivatives market has been segmented into chemicals, power generation, liquid fuels and gaseous fuels based on end-user. End-user segment have been analyzed based on historic, present, and future trends.
Regional segmentation includes the current and forecast demand for syngas and derivatives in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). Additionally, the report comprises country-level analysis in terms of volume for end-user segments. Key countries such as the U.S., Germany, France, the U.K., Spain, Italy, India, China, South Africa, Mexico, and Brazil have been included in the study. Market segmentation includes demand for individual end-user in all the regions and countries.
Global Syngas and Derivatives Market: Competitive Analysis
The report covers detailed competitive outlook that includes market share and profiles of key players operating in the global market. Key players profiled in the report includes Air Products and Chemicals Inc., Air Liquide SA, BASF SE, Sasol Limited, Siemens Ag and others. Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview (wherever applicable).
Secondary research sources that were typically referred to include, but were not limited to company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, news articles, national government documents, and webcasts specific to companies operating in the market have also been referred for the report.
In-depth interviews and discussions with a wide range of key opinion leaders and industry participants were conducted to compile this research report. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. Key players’ product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and strengthening secondary research findings. Primary research further helped in developing the analysis team’s expertise and market understanding.
The global syngas and derivatives market has been segmented as follows:
- Natural Gas/Biomass Waste
By Production Technology
- Partial Oxidation
- Steam Reforming
- Biomass Gasification
By End User
- Power Generation
- Liquid Fuels
- Gaseous Fuels
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America