Synthesis Gas Market 2022
The global synthesis gas market is expected to grow at a CAGR of 5% during the forecast period. The growth of the market can be attributed to the increasing demand for syngas from the chemical and petrochemical industries. The growing demand for syngas from the chemical and petrochemical industries is due to its ability to replace traditional fuels such as coal, natural gas, and oil in various applications.
Globally, government, has been focused on reducing the use of petroleum products as fuels, so the synthesis gas comes in focus which gives opportunity for energy sustainable developments. Principally, synthesis gas can be produced by any hydrocarbon feedstock. As synthesis gas is produced either by waste products (pyrolysis) or by gasification of plants biomass.
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The synthesis gas also called as syngas and is defined as, a gas with carbon monoxide (CO) and hydrogen (H2) as the key components of fuel. In addition, carbon dioxide and water may also be present in synthesis gas. Usually, synthesis gas is a product of coal gasification and used mainly for the electricity generation, due to combustible nature, it can also be as a fuel for internal combustion engine. Initially, it has been used for the replacement for gasoline.
Globally, in industries, synthesis gas is used for synthesizing chemicals and fuels at higher pressure. Synthesis gas is a crucial intermediate for several application in chemical and in other allied industries such as, for the production of bio-fuel, methanol, which is produced by catalytic reaction of synthesis gas.
Ammonia application estimated to dominate the market in 2019 and is expected to continue its dominance in the coming forecast period. Globally, more than 6 EJ (Exajoules) of synthesis gas is produced every year which is almost two percent of world current energy consumption.
Key Companies-
- BASF
- Royal Dutch Shell
- Haldor Topsoe
- KBR
- Nutrients
- Dow Chemical
- Liquid air
- Mitsubishi Heavy Industries
- Synthesis gas Technology
- Chicago Bridge and Iron
- Linde Group
- Siemens
- Sasol
- ConocoPhillips
- Foster Wheeler
- Linc Energy
- Technip
- WELL
- Methanex
- Yara International
- Royal Dutch Shell plc
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Synthesis Gas Market: Segmentation
By product type
- Coal
- Natural Gas
- Biomass
- Petroleum
- Others
By application
- Ammonia
- Refineries
- Methanol
- Electricity
- Gas-to-Liquid
- Others
Key geographies evaluated in this report are:
North America – U.S, Canada
Europe – France, Germany, Italy, Spain, and the UK, Eastern Europe, CIS
APAC – China, India, Japan, Australia, Others
Latin America – Argentina, Brazil, Others
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Key Questions Answered in Synthesis Gas Market Report –
Who are the Major Manufacturers and Suppliers of Synthesis Gas?
What will the Synthesis Gas Market growth rate in Future?
What are the key factors driving the global Synthesis Gas Market?
Who are the key manufacturers in Synthesis Gas Market space?
What are the opportunities and threats faced by the vendors in the global Synthesis Gas industry?
What are sales, revenue, and price analysis by regions of Synthesis Gas industry?
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