Syngas Market To Reach Volume 477.97 Million Nm3/hr By 2030

Syngas Market Growth & Trends

The global syngas market is anticipated to reach 477.97 million Nm3/hr by 2030 and is anticipated to expand at a CAGR of 11.3% during the forecast period, according to a new report by Grand View Research, Inc. Rising demand for cleaner alternatives fuels is expected to drive market growth.

Growing government support for clean energy initiatives, including tax credits and renewable portfolio standards, incentivizes investments in syngas technologies, fostering market expansion. In addition, stringent environmental regulations, such as the Clean Air Act and carbon emission reduction targets, are driving demand for cleaner alternatives in various industries. Syngas can help industries comply with these regulations by offering a lower-emission fuel option.

Companies are increasingly focusing on expansion of syngas facility in order to increase their foothold in market. For instance, In September 2023, BASF SE started construction of its syngas plant at the Verbund site in Zhanjiang, China. Plant is expected to commence its operation by 2025. Facility will produce syngas and hydrogen for captive use within BASF’s production Verbund.

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Syngas Market Report Highlights

• Steam Reforming dominated the production technology segment with more than 47.0% share in 2023 owing to its widely used technology for producing syngas from various feedstock.

• Natural gas dominated the feedstock segment owing to its crucial and widely utilized feedstock in syngas market, playing a pivotal role in production of synthesis gas.

• Fluidized Bed dominated gasifier segment and accounted for volume share of 59.3% in 2023, owing to its use for converting various feedstock, including biomass, coal, and waste materials, into syngas.

• Chemicals dominated the application segment in terms of volume, accounting for a market share of more than 42.0% in 2023. Syngas serves as a valuable feedstock for producing various essential chemicals, including methanol, which is a versatile chemical used in production of plastics, formaldehyde, and various other chemicals.

• Asia Pacific dominated the syngas market owing to factors such as supportive policies, increasing disposable incomes, and growing environmental concerns.

• Market players operating in syngas market include A.H.T Syngas Technology NV, Air Liquide, Air Products and Chemicals Inc., Airpower Technologies Limited, John Wood Group PLC, KBR Inc., Linde Plc, among others.

• In November 2023, Charwood Energy partnered with Verallia Group to develop a greenfield facility to produce syngas using pyrogasification of biomass. Facility shall consist of a biomass reception and preparation unit, an oxygen production unit, a syngas production line, syngas storage, a thermal energy network, a syngas distribution network and a biochar packaging line. 

Syngas Market Segmentation

Grand View Research has segmented the global syngas market on the basis of production technology, feedstock, gasifier type, application, and region:

Syngas Production Technology Outlook (Volume, Million Nm³/hr, 2018 - 2030)

• Steam Reforming

• Partial Oxidation

• Autothermal Reforming

• Biomass Gasification

• Others (Plasma Gasification, heat exchange reforming, and underground coal gasification)

Syngas Feedstock Outlook (Volume, Million Nm³/hr, 2018 - 2030)

• Petroleum Byproducts

• Coal

• Natural Gas

• Biomass/ Waste

• Others (Petcoke, Plastic Wase, and Medical Waste)

Syngas Gasifier Type Outlook (Volume, Million Nm³/hr, 2018 - 2030)

• Fixed Bed

• Entrained Flow

• Fluidized Bed

• Others (Plasma Arc and Black Liquor)Others (Petcoke, Plastic Waste, and Medical Waste)

Syngas Application Outlook (Volume, Million Nm³/hr, 2018 - 2030)

• Chemicals

  • Methanol

  • Ammonia

  • FT Synthesis Products

• Fuels

  • Liquid

  • Gaseous

• Power Generation

Syngas Regional Outlook (Volume, Million Nm³/hr, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • UAE

  • South Africa

List of Key Players in the Syngas Market

• A.H.T Syngas Technology NV

• Air Liquide

• Air Products and Chemicals Inc.

• Airpower Technologies Limited

• John Wood Group PLC

• KBR Inc.

• Linde Plc

• Sasol

• Shell Plc

• Topsoe AS

• Maire Tecnimont Spa

• Synthesis Energy Systems Inc.

• Chiyoda Corporation

• Dow Inc.

• Methanex Corporation