Global Syngas Market is projected to grow during the forecast period
The report titled “Global Syngas Market – Forecasts from 2018 to 2023” covers an in-depth analysis of the syngas market on the basis of feedstock, end-user industry, and geography. The report also covers the country level analysis within the regions as well. Additionally, the report covers the key trends in the market along with drivers and restraint during the forecast period 2018-2023. The report has segmented the syngas market by feedstock (hydrocarbon, natural gas, liquid gas, naphtha, others), end-user industry (energy and power, oil and gas, chemical, others), and geography (North America, South America, Europe, Middle East and Africa, Asia Pacific). Syngas is an abbreviated term for synthesis gas, which is a gaseous mixture of hydrogen, carbon monoxide, carbon dioxide, and other trace components. Rising population across the globe is leading to an increased demand for energy that is not only affordable but also clean. Burgeoning need to produce cleaner energy products is driving the global syngas market growth. Manufacturers are increasingly using syngas to produce electricity, fuels, chemicals, etc. as is a clean and incredibly versatile source of energy. The market is expected to grow at a good rate owing to the rising propensity of traditional gasification markets, including chemical and fertilizer towards utilizing syngas and burgeoning energy market in developing countries.
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Hydrocarbon and Natural Gas hold a significant share in the market
Hydrocarbon and natural gas hold a significant share in the market as it is commonly used feedstock to generate hydrogen-rich syngas.
Energy and Power holds a significant share in the market
Energy and Power holds a significant share in the market in 2017 owing to a significant share of syngas is used to produce electricity. The demand for syngas is expected to increase in this sector owing to the rising trend of producing electricity from resources that are clean, and non-exhaustive.
The Asia Pacific is expected to grow at a good rate in the forecast period.
The Asia Pacific syngas market is estimated to grow at a good rate in the forecast period owing to the rapidly growing industrialization and urbanization in the region. Increasing population in the region will increase the demand for clean energy and power which will positively influence the demand for syngas production in the region.
Some of the major players discussed in the reports are Air Liquide, Air Products and Chemicals, Inc., Shell International B.V., Sasol, The Linde Group, Siemens AG, Synthesis Energy Systems, Inc., Johnson Matthey, MITSUBISHI HEAVY INDUSTRIES, LTD., and SynGas Technology, LLC.
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