Asia-Pacific was the largest region in the syngas chemicals market in 2017, accounting for 37.2% share in the market. This was due to persistent demand from the infrastructure sector from China, India and Southeast Asian nations.North America was the second largest region in the syngas chemicals market in 2017, accounting for 22.5% share in the market. This can be attributed to presence of numerous gasification facilities to fulfil the demand for energy.Middle East was the smallest region in the syngas chemicals market in 2017, accounting for 4.0% share in the market.
Rise In Demand For Coal As Key Feedstock
Coal gasification as feedstock is being widely used to increase petrochemicals production in general and specifically syngas. Petrochemical companies in China developed coal-based liquid fuels as a raw material to reduce its dependency on imported oil. The Chinese government is also encouraging petrochemical companies to use coal as feedstock to reduce oil and gas imports. Chinese and Indian companies should adopt coal gasification technologies to reduce dependence on imported oil and gas.
Syngas chemicals are primarily produced from synthesis gas, a gaseous mixture of hydrogen and carbon monoxide. The prime compound obtained from catalytic reaction of syngas is methanol. Methanol is further utilized to produce other industrially important chemicals such as formaldehyde, and acetyls.
Companies Covered: Celanese Corporation, LyondellBasell Industries Holdings BV, China National Petroleum Corporation, East-man Chemical Company, Methanex Corporation
Market Segments Included: Acetyls, Formaldehyde and Resins, MTBE, Methanol
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