Global Syngas & Derivatives Market Will Flourish by 2016 – 2024
Sarasota, FL -- (SBWIRE) -- 03/23/2017 -- Global Syngas & Derivatives Market: Overview
Synthesis gas is known as syngas which is a fuel gas which mainly consists of carbon monoxide, hydrogen, and some amount of carbon dioxide. The product of gasification is syngas and the main application of syngas is generating electricity. Syngas is considered as the best option for the liquid and gaseous fuel production. It is in the case where coal is used as feedstock.
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Global Syngas & Derivatives Market: Segmentation
The syngas and derivatives market is globally segmented into its end uses, feedstock, production technology, and gasifier type. On the basis of end uses, the global market is segregated into liquid fuels, gaseous fuels, chemical, power generation. The chemical segment includes chemicals such as ammonia, n-butanol, dimethyl ether, methanol, oxo chemicals, and hydrogen. Based on the feedstock, the market is categorized as natural gas, biomass/waste, coal, and petroleum by-products. On the basis of production technology, the syngas and derivatives market is divided into steam reforming, auto-thermal reforming, biomass gasification, partial oxidation, and combined or two-step reforming. Depending on the gasifier type, the market is segmented into entrained flow, fixed the (moving) bed, fluidized bed, and others.
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Global Syngas & Derivatives Market: Growth Factors
Increasing demand for electricity, fuels, and agricultural products are driving the growth of the syngas and derivatives market. New production plants of syngas are being constructed in various regions. Polygeneration is the main factor that is driving the syngas and derivatives market owing to the reason that it can be used to derive fuels and chemicals for the purpose of power generation. The widely used application of syngas is the chemical production. The popular chemicals that are produced from the syngas include methanol, oxo-chemicals, ammonia, di-methyl ether, and hydrogen. From which methanol is used further to produce lot of derivatives such as olefins and formaldehyde. The increasing use of the derivatives in various industrial applications is driving the demand of syngas and derivatives market. There are some factors that restrain the market growth which includes the high capital investments and the time required to build the operational plant with the installation of hi-tech gasification techniques is very long. The other factor is the plants should be constructed in such areas where there is continuous availability of the feedstock.
Global Syngas & Derivatives Market: Regional Analysis
The syngas and derivatives market is geographically segmented into Europe, North America, Asia-Pacific, Latin America, and the Middle East and Africa. The region that dominated the syngas and derivatives market is Asia Pacific region. The factors that attribute this market growth are the rise in the urbanization, new oil and gas reserves being found, ample availability of natural gas and gas reserves, and the developments in the infrastructure. The Middle East and Africa region also have a strong hold on the market owing to the increased use of syngas for the power and electricity generation.
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Global Syngas & Derivatives Market: Competitive Players
The key market players in the syngas and derivatives market include Syngas Technology LLC, Sasol Ltd., Chicago Bridge & Iron Co. N.V., Air Products & Chemicals Inc., Air Liquide SA., The Linde Group, Siemens AG, Haldor Topsoe A/S, BASF SE, and AMEC Foster Wheeler Plc.
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