What Fueled The Previous Growth In The Syngas And Derivatives Market?
The syngas and derivatives market has seen considerable growth due to a variety of factors.
• There has been a significant increase in the size of the syngas and derivatives market in the past few years. The market is set to expand from a value of $240.76 billion in 2024 to reach $260.2 billion in 2025, indicating a compound annual growth rate (CAGR) of 8.1%.
The surge in growth during the historic period can be linked to the expansion of the chemical industry, rising energy needs, heightened knowledge about the environmental advantages of syngas, and governmental initiatives.
What Can Be Expected from the Syngas And Derivatives Market Size?
The syngas and derivatives market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the syngas and derivatives market is anticipated to exhibit robust growth, reaching an estimated worth of $354.72 billion by 2029, thanks to a compound annual growth rate (CAGR) of 8.1%.
Several factors like the surging demand for syngas in the transportation and power generation sectors, an enhanced focus on sustainable development, and an escalating demand for fertilizers are contributing to this growth during the forecast period. Other major trends propelling this growth in the forecast period encompass advancements in gasification technology, production of green syngas, high-purity hydrogen production, and innovative use of syngas in the chemical industry.
What Are the Critical Driver Fuelling The Syngas And Derivatives Market's Growth?
The rising demand for electricity is anticipated to foster the expansion of the syngas and derivatives markets in the future. Electricity, derived from the motion of charged particles, such as electrons, across a conducting material, is used to power various equipment and systems in several industries and daily routines. Syngas and derivatives serve as alternatives to natural gas or other fossil fuels in power generation plants. A report released by the International Energy Agency in France, for example, stated that global electricity demand rose to 26,779 terawatt-hours in 2022, up from 26,281 terawatt-hours in 2021, and is anticipated to expand to 29,281 terawatt-hours by 2025. Thus, the increasing demand for electricity is likely to stimulate the syngas and derivatives markets. Syngas And Derivatives Market Driver: Growth In Syngas And Derivatives Market Driven By The Chemical Industry's Expansion
How Is The Syngas And Derivatives Market segmented?
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
Subsegments:
1) By Partial Oxidation: Oil Partial Oxidation, Coal Partial Oxidation, Natural Gas Partial Oxidation
2) By Steam Reforming: Methane Reforming, Naphtha Reforming
3) By Biomass Gasification: Wood Biomass Gasification, Agricultural Residues Gasification, Municipal Solid Waste Gasification
4) By Other Types: Autothermal Reforming, Plasma Gasification, Dry Reforming
Pre-Book The Syngas And Derivatives Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Trends Are Reshaping The Future Of The Syngas And Derivatives Market?
Leading businesses in the syngas and derivatives markets are embracing eco-friendly technologies to streamline their syngas production processes, enhance productivity, fulfill the growing demand for environmentally friendly energy options, and maintain their market presence. In an example from June 2022, UK-based chemical and sustainable technology firm, Johnson Matthey PLC, introduced low carbon solutions named CLEANPACE. This is a suite of ready-now technologies that can be incorporated into existing gray hydrogen and methanol facilities to slash carbon emissions by a maximum of 95% with a low initial expenditure. CleanPace allows players in the syngas sector to modernize their current assets, resulting in significant and long-lasting carbon emission reductions. Johnson Matthey is partnering with recognized pre-combustion CO2 capture providers and integrating its developed advanced reforming technologies in a seamless manner to provide cost-effective solutions for successful decarbonization.
Who Are the Key Players In The Syngas And Derivatives Market?
Major companies operating 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.
What Is The Most Dominant Region In The Syngas And Derivatives Market?
Asia-Pacific was the largest region in the syngas and derivatives market in 2024 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.
