The syngas and derivatives market size is expected to see strong growth in the next few years. It will grow to $326.46 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to rising demand for syngas in the transportation sector, demand for syngas in the power generation sector, growing commitment to sustainable development, increasing demand for fertilizers. Major trends in the forecast period include gasification technology advances, green syngas production, high-purity hydrogen production, syngas-based chemical innovation.
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Segmentation & Regional Insights
The syngas and derivatives market covered in this report is segmented –
1) By Type: Partial Oxidation; Steam Reforming; Biomass Gasification; Other Types
2) By Feedstock: Coal; Natural Gas; Petroleum; Biomass Or Waste; Other Feedstocks
3) By Gasifier: Fixed Bed; Entrained Flow; Fluidized Bed
4) By Application: Chemicals; Power Generation; Liquid Fuels; Gaseous Fuels; Other Applications
5) By End-User: Industrial; Residential; Commercial
Asia-Pacific was the largest region in the syngas and derivatives market in 2023 and it is expected to be the fastest-growing region in the forecast period. The regions covered in syngas and derivatives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The surging demand for electricity is expected to propel the growth of the syngas and derivatives markets going forward. Electricity is a form of energy resulting from the movement of charged particles, typically electrons, through a conductor, which can be harnessed to power devices and systems in various industries and daily life. Syngas and derivatives are fuels used in power plants to generate electricity and replace natural gas or other fossil fuels. For instance, in February 2023, according to a report published by the International Energy Agency, a France-based intergovernmental organization, the global electricity demand increased to 26,779 terawatt-hours in 2022 from 26,281 terawatt-hours in 2021. Moreover, it is estimated to grow to 29,281 terawatt-hours by 2025. Therefore, the surging demand for electricity will drive the syngas and derivatives markets.
Key Industry Players
Major players in the syngas and derivatives market are ExxonMobil Corporation, Shell PLC, Total S.A., BP PLC, Chevron Corporation, BASF SE, Siemens AG, General Electric Company, Dow Chemical Company, LyondellBasell Industries N.V., Linde PLC, Air Liquide SA, Mitsubishi Heavy Industries Ltd., Yara International ASA, Johnson Matthey PLC, Sasol Ltd., Air Products and Chemicals Inc., Eastman Chemical Company, Celanese Corporation, TechnipFMC PLC, KBR Inc., Foster Wheeler AG, Chiyoda Corporation, Methanex Corporation, ThyssenKrupp Uhde GmbH, Topsoe A/S, Linc Energy Ltd., Synhelion SA, Advanced Biofuel Solutions Ltd.
The syngas and derivatives market report table of contents includes:
- Executive Summary
2.Syngas And Derivatives Market Characteristics
3.Syngas And Derivatives Market Trends And Strategies
4.Syngas And Derivatives Market – Macro Economic Scenario
- GlobalSyngas And Derivatives Market Size and Growth
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- GlobalSyngas And Derivatives Market Competitive Benchmarking
- GlobalSyngas And Derivatives Market Competitive Dashboard
- Key Mergers And Acquisitions InSyngas And Derivatives Market
35.Syngas And Derivatives Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- ExxonMobil Corporation
- Shell PLC
- Total S.A.
- BP PLC
- Chevron Corporation
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