Syngas & Derivatives Market
Report ID: SQSG15B2009
Syngas & Derivatives Market Size, Share, Growth Analysis, By Feedstock(Coal, Petroleum, Biomass Waste, Others), By Technology(Partial Oxidation, Steam Reforming, Biomass Gasification, Others), By End User(Chemicals, Power Generation, Liquid Fuels, Gaseous Fuels.), By Region - Industry Forecast 2024-2031
Report ID:
SQSG15B2009 |
Region:
Global |
Published Date: October, 2024
Pages:
257
|Tables:
93
|Figures:
74
Syngas & Derivatives Market Insights
Syngas & Derivatives Market was valued at USD 143.54 billion, and it is predicted to reach USD 201.47 billion by 2031, increasing at a CAGR of 5.34% during the forecast period (2024-2031).
Synthesis gas (also known as Syngas) and its derivatives are essentially raw gases produced from feedstock hydrocarbons and consist primarily of hydrogen (H2) and carbon monoxide (CO), with carbon dioxide (CO2), methane (CH4), and other components remaining.
Syngas, a clean and renewable energy source, is widely used in a variety of industrial applications around the world. Rising environmental concerns have been major drivers of the syngas & derivatives market's growth in order to provide alternative fuel production methods. Furthermore, the high demand for chemical intermediaries in the production of hygiene and sanitization products, as well as pharmaceutical products, is expected to fuel the growth of syngas and its derivatives in the chemical segment.
Factors such as rising demand for electricity, fuel, and agricultural products are driving up syngas and derivatives market growth rates. Rising concerns about environmental and urban waste, as well as high demand for chemical intermediaries in the production of hygiene and sanitization and pharmaceutical products due to the outbreak of COVID-19, are expected to cushion the growth of the syngas - derivatives market during the forecast period. Furthermore, the combined production of chemicals, fuels, and power, as well as feedstock flexibility, are expected to cushion overall market growth.
US Syngas & Derivatives Market is poised to grow at a sustainable CAGR for the next forecast year.
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Syngas & Derivatives Market Segmental Analysis
The global syngas & derivatives market is segmented based on product type, application, and region. Based on product type Syngas & Derivatives Market is categorized into syngas & derivatives equipment, consumables. Based on application Syngas & Derivatives Market is categorized into: automotive, building & construction, heavy engineering, railway & shipbuilding, oil & gas, others. Based on region Syngas & Derivatives Market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Syngas & Derivatives Market Analysis by Feedstock
In the manufacture of syngas & derivatives, coal accounted for the largest feedstock category, and it is anticipated that it will continue to dominate the market throughout the projection period. The coal segment in the syngas & derivatives market is expanding due to the abundant availability of coal for energy production and the excellent compatibility of the feedstock with different syngas production technologies. Additionally, the abundance of coal deposits in nations like China, the US, and Russia is credited with the growth. The primary markets for the manufacture of coal-based syngas and derivatives are China and India. In the Asia Pacific region, which is the largest market for syngas & derivatives, this promotes the growth of the coal sector.
Syngas & Derivatives Market Analysis by End User
As a result of the rising need for green chemicals for the synthesis and manufacturing of chemical intermediates, the chemicals segment is anticipated to dominate the syngas & derivatives market in 2020. Syngas & derivatives are frequently employed in the processing of chemicals to make fertilisers, petrochemicals, and oxo chemicals, among other things, depending on the H2/CO ratio. The chemicals category is further divided into methanol, ammonia, and FT synthesis products based on derivative.
The most produced chemical in the world is ammonia, which is largely used to create nitrogenous fertilisers. The primary driver of the expansion of the chemicals category for the syngas & derivatives market is ammonia, which is the main chemical utilised in the manufacture of fertilisers.
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Syngas & Derivatives Market Regional Insights
Global syngas and derivatives market is anticipated to expand at the greatest CAGR during 2022–2028 in the Asia Pacific region. The expansion can be due to the substantial demand for syngas & derivatives in nations like China, India, and Japan for use in fuel, electricity, and chemical production. Chemical applications for usage in fertilisers and petrochemicals offer substantial growth potential in the region, which is the chemical industry's largest consumer. Additionally, the region's fuel and power applications are expanding quickly, and there is a growing need for syngas & derivatives for use in liquid fuel, gaseous fuel, and hydrogen-based energy.
On the other hand, North America will continue to experience profitable growth during the projection period due to increased syngas demand for the manufacture of different chemicals.
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Syngas & Derivatives Market Dynamics
Syngas & Derivatives Market Driver
- The rising need for syngas and derivatives can be ascribed to growing environmental restrictions as well as the emergence of clean technology. Governments in many countries are pressuring individuals to adopt clean technologies due to the high levels of pollution around the world. These ideas and activities are probably going to help the worldwide market have a bright future in terms of growth.
- Initiatives in syngas and derivatives R&D are also anticipated to support the growth of the industry. In order to improve their revenue, businesses invest heavily in R&D. Huge investments are probably going to eventually benefit the worldwide market.
Syngas & Derivatives Market Restraint
- Some obstacles, such as large capital expenditures and the length of time needed to construct an operational plant with the installation of cutting-edge gasification processes, limit syngas and derivatives market growth. The location of the plants should be chosen such that the feedstock is always available.
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Syngas & Derivatives Market Competitive Landscape
There are a few worldwide players that are acting in larger part of the nations and a developing number of more modest players in the provincial level, who are offering moderate quality items in a reasonable scope of costs. The major players in the market are Sasol Limited (South Africa), Haldor Topsoe A/S (Denmark), Air Liquide S.A.(France), Siemens AG (Germany), Air Products and Chemicals Inc. (US), KBR Inc. (US), Linde plc (UK), BASF SE (Germany), TechnipFMC PLC (UK), McDermott International, Inc. (US), Mitsubishi Heavy Industries, Ltd. (Japan), Chiyoda Corporation (Japan), Synthesis Energy Systems, Inc. (US), Yara International ASA (Norway), Methanex Corporation (Canada), CF Industries Holdings, Inc. (US), Dow Inc. (US), and John Wood Group PLC (UK)
Top Players in the Global Syngas and Derivatives Market
- Sasol Limited (South Africa)
- Haldor Topsoe A/S (Denmark)
- Air Liquide S.A.(France)
- Siemens AG (Germany)
- Air Products and Chemicals Inc. (US)
- KBR Inc. (US)
- Linde plc (UK)
- BASF SE (Germany)
- TechnipFMC PLC (UK)
- McDermott International, Inc. (US)
- Mitsubishi Heavy Industries, Ltd. (Japan)
- Chiyoda Corporation (Japan)
- Synthesis Energy Systems, Inc. (US)
- Yara International ASA (Norway)
- Methanex Corporation (Canada)
- CF Industries Holdings, Inc. (US)
- Dow Inc. (US)
- John Wood Group PLC (UK)
Syngas & Derivatives Market Recent Developments
- In September 2019, the purchase of GE's Gasification Business and Technology by Air Products has been finalised. The gasification business that Air Products purchased from GE includes GE's portion of the joint venture (JV) it has with China Shenhua Coal to Liquid and Chemical Corporation, Ltd., a division of the renowned energy company China Energy Group.
- In August 2019, Air Products expands its gasification growth plan through a new syngas project in Jiangsu Province, China, with Debang Group.
Syngas & Derivatives Key Market Trends
- The biomass sector has grown in popularity, and biomass is now recognised as a significant renewable energy source in the worldwide energy system.
- Improvements in biomass energy generation have greatly accelerated the use of biomass as fuel in a number of other end-use sectors. The market for steam reform technologies is expanding as well. In the upcoming years, it is projected that this tendency will continue.
Syngas & Derivatives Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, by end user, the heavy chemical category is estimated to have the largest share of the market. Feed stock-wise, the coal accounted for the largest feedstock category, and it is anticipated that it will continue to dominate the market throughout the projection period. Region-wise, the Asia Pacific region accounted highest market share of the total syngas and derivatives market revenue.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 143.54 billion, |
| Market size value in 2031 | USD 201.47 billion |
| Growth Rate | 5.34% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Syngas & Derivatives Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Syngas & Derivatives Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Syngas & Derivatives Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Syngas & Derivatives Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Syngas & Derivatives Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Syngas & Derivatives Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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