Syngas is a fuel gas mixture that consists of hydrogen and carbon dioxide. It is a versatile intermediate for the production of methanol, ammonia, and SNG. The composition of substances in syngas varies depending upon the chemical composition of the feedstock. Syngas can be produced from any hydrocarbon feedstock, by reaction with either steam or oxygen.

Global syngas market is anticipated to witness a CAGR of 9.54% over the forecast period. The base year considered for the market study is 2017 and the forecasted period is between 2018-2026. Several factors aiding to market growth are:

• Rising demand for electricity, fuel, and agricultural products
• Flexibility in feedstock
• Use of gasification techniques
• Conversion of underground coal gasification (UCG) offers ample opportunities
• Increasing research & development investments

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The market is expected to grow significantly over the forecast period with high demand for industrial chemicals, fuels, agriculture products, and electricity worldwide. With growing electricity demand, the focus of power generation companies is shifting to multiple alternatives, syngas being one of them. In addition, growing environmental concerns and increasing government initiatives worldwide to increase the use of cleaner fuels are aiding market growth.

In 2017, Coal segment dominated the feedstock segment by accounting for the largest share of XX%. Coal, an abundantly available raw material, is needed for the production of syngas. Coal gasification is versatile and is the cleanest method to convert coal into hydrogen, electricity, and other valuable products. The environmental benefit offered by coal gasification is one of the primary drivers of this segment, as it has extremely low sulphur oxide and nitrogen oxide emission levels. Furthermore, Biomass & waste segment is anticipated to exhibit the fastest pace during the forecast period. The environment-friendly and carbon-neutral nature of biomass as feedstock will aid the market growth during the forecast period. It can also be used in combination with other feedstock such as coal and natural gas. The co-firing technique will provide fuel flexibility, and hence, boost market growth.

However, stringent emission regulations are the major factors hindering the Syngas market. The governments of several countries have set standards to reduce pollution. Moreover, apart from massive capital investments, other barriers to the growth of the syngas market include longer construction time, and annual maintenance and operating costs. The cost to construct and operate a gasification plant is significantly higher, and it deters investors. Apart from massive capital investments, other barriers to the growth of the syngas market include longer construction time, and annual maintenance and operating costs. The cost to construct and operate a gasification plant is significantly higher, and it deters investors.

The global syngas market report includes segmentation on the basis of feedstock and application.

Market by Feedstock:

• Biomass/waste
• Petroleum and by-products
• Natural gas
• Coal

Market by Applications:

• Gaseous fuel
• Power
• Liquid fuel
• Chemicals

The revenues generated through the sales of syngas for feedstock as well as the applications are considered in this analysis to calculate the market size by considering 2017 as the base year.

The report sizes all the submarkets and also gives a detailed geographic split of the four major markets, which include:

• Syngas North America Market: the United States & Canada
• Syngas Europe Market: United Kingdom, France, Germany, Spain, Italy, Nordic Countries, Netherland, Russia & Rest of Europe
• Syngas Asia-Pacific Market: China, India, Japan & Rest of Asia Pacific
• Rest of World: Latin America, Middle East & Africa

Geographically, Asia Pacific syngas market accounted for the largest share of global syngas market in 2017. The production of syngas in Asia Pacific region is anticipated to increase primarily due to rising number of upcoming and operating production plants in the region. Owing to economic sourcing and reduced manufacturing costs, vendors have achieved a low-cost advantage in this region. China, Mongolia, India, and South Korea are countries with an increased number of installations. China’s contribution to the market will be the focus point with many projects in the pipeline. By 2020, China targets to raise the syngas output to 50 bcm/y.  India, Japan, Taiwan, and Singapore have also been increasing their syngas production. For instance, Reliance Jamnagar refinery in India is undertaking a project that will gasify petcoke to produce electricity, SNG, hydrogen, and chemicals. Also, the reduction in coal prices makes the market economically viable in the region.

The Syngas Market is primarily segmented based on the feedstock which is sub-divided into biomass/waste, petroleum, and by-products, natural gas, and coal. Furthermore, the market has been segmented on the basis of Applications, which includes Gaseous Fuel, Liquid Fuel, Chemicals & Power.

The global syngas market is highly diversified and has a large number of players. It consists of major syngas producers, production technology licensors, and producers of the syngas derivatives. The key players in the syngas production market are:

• Shell
• Sasol Limited
• General Electric Company
• Dakota Gasification Company
• Haldor Topsoe

Company profiles of prominent market players are discussed in detail in this report. Most of the companies look for strategies such as merger & acquisition, partnership, contracts, agreements, and new product launch in order to gain a competitive edge over each other. For instance, in May 2018, Air Products & Chemicals inaugurated its new world-scale industrial gas complex within the Integrated Refinery Expansion Project (IREP) of the BPCL Kochi Refinery located in Kochi, India. In January 2018, Nutrien Ltd. completed the merger of equals between Agrium Inc. (Agrium) and Potash Corporation of Saskatchewan Inc. (PotashCorp), to create the world’s premier provider of crop inputs and services.

Key findings of Global Syngas Market:

• The production of syngas in the Asia Pacific is anticipated to increase primarily due to the rising number of upcoming and operating production plants in the region
• The biomass feedstock segment is expected to grow significantly during the forecast period, posting a CAGR of 12.60%
• The flexibility in feedstock and rising demand for fuel and electricity have a positive impact on the growth of the syngas market
• The underground coal gasification process is a major trend that will drive the market growth