Dublin, July 19, 2024 (GLOBE NEWSWIRE) -- The "Syngas and Derivatives - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Syngas and Derivatives is estimated at 393 Thousand MWth in 2023 and is projected to reach 780 Thousand MWth by 2030, growing at a CAGR of 10.3% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
Several factors drive the growth of the syngas market. Integration with renewable energy projects is a significant driver, particularly in regions with ambitious carbon neutrality goals. Syngas production from biomass or waste aligns with renewable energy initiatives, facilitating a transition from traditional fossil fuel-based energy systems. Advances in gasification technologies that enhance efficiency and reduce emissions foster greater adoption of syngas, making it an attractive option for industries aiming to reduce environmental impact while maintaining energy efficiency.
Regulatory and policy support, including government incentives aimed at reducing carbon footprints and promoting cleaner energy sources, further drives syngas adoption. Energy security concerns also prompt countries to seek stable, domestically-produced energy sources, with syngas production from locally available feedstocks contributing to energy independence and security.
Additionally, the emphasis on industrial symbiosis and circular economy practices boosts syngas use, particularly in the chemical and power sectors, by utilizing waste and residuals for energy and material recovery. Technological partnerships and collaborations between technology providers and industrial end-users are essential for developing tailored syngas solutions, refining gasification processes, and enhancing syngas yield and quality.
These factors collectively underscore the dynamic interplay of technology, policy, and market needs crucial for the growth and wider adoption of syngas and its derivatives across various sectors.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Coal Feedstock segment, which is expected to reach 208 Thousand MWth by 2030 with a CAGR of a 7.6%. The Petroleum Byproducts Feedstock segment is also set to grow at 9.7% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at 103 Thousand MWth in 2023, and China, forecasted to grow at an impressive 13.2% CAGR to reach 172 Thousand MWth by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Air Liquide Global E&C Solutions, Air Products and Chemicals, Inc., BASF SE, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 293 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value in 2023 | 393 Thousand MWth |
| Forecasted Market Value by 2030 | 780 Thousand MWth |
| Compound Annual Growth Rate | 10.3% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Syngas and Derivatives - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Global Economic Update
MARKET TRENDS & DRIVERS
- Increasing Demand for Clean and Renewable Energy Sources
- Growth of Industrial Applications for Syngas and Derivatives
- Advancements in Gasification Technologies
- Rising Adoption of Syngas in Chemical Production
- Impact of COVID-19 Pandemic on Syngas Market
- Expansion of Syngas Applications in Power Generation
- Development of Biomass and Waste-to-Energy Gasification Processes
- Role of Syngas in Enhancing Fuel Efficiency and Reducing Emissions
- Market Penetration of Syngas in Fertilizer Production
- Influence of Technological Innovations on Syngas Conversion Efficiency
- Growth of Syngas in the Petrochemical Industry
- Challenges Related to Feedstock Availability and Pricing Volatility
- Emerging Markets and Growth Opportunities in Developing Regions
- Future Trends and Innovations in Syngas Technology and Applications
FOCUS ON SELECT PLAYERS(Total 63 Featured)
- Air Liquide Global E&C Solutions
- Air Products and Chemicals, Inc.
- BASF SE
- BioMCN
- CF Industries Holdings, Inc.
- Dow Inc.
- General Electric Company
- Haldor Topsoe A/S
- KBR, Inc.
- KT - Kinetics Technology SpA
- Linc Energy Ltd.
- Linde AG (The Linde Group)
- Methanex Corporation
- Mitsubishi Heavy Industries Ltd.
- Nutrien Ltd.
- Oxea GmbH
- Royal Dutch Shell PLC
- Sasol Ltd.
- Siemens AG
- SynGas Technology, LLC
For more information about this report visit https://www.researchandmarkets.com/r/64bzwq
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