Technavio’s latest market research report on the global
syngas market provides an analysis of the most important trends
expected to impact the market outlook from 2018-2022. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.
This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180331005014/en/
Technavio has published a new market research report on the global syngas market from 2018-2022. (Graphic: Business Wire)
According to Technavio analysts, the global syngas market will grow at a
CAGR of around 18% during the forecast period. The flexibility in
feedstock is a major factor driving the market’s growth.
Syngas can be produced from a variety of feedstock such as coal,
petcoke, natural gas, and biomass. This flexibility decreases the
dependency on a raw material for syngas production. Furthermore, the
commercially available gasifiers are technologically advanced and
possess the ability to process multiple feedstocks for syngas production.
The gasification feedstock is chosen based on its availability and
economic viability.
This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the
third for FREE: View
all Technavio’s current offers
In this report, Technavio highlights the increasing use of UCG as one of
the key emerging trends driving the global syngas
market:
Increasing use of UCG
Coal gasification is an aboveground process. UCG is an in-situ
gasification process that converts coal into syngas. The process takes
place in underground coal seams and brings the syngas to surface through
production wells. The technology comprises drilling two wells, an
injection well for pumping in air or oxygen to the coal deposits, while
the other well collects the produced syngas at the surface. The actual
gasification process takes place 1,200 feet below the surface in coal
seams. Technological developments in well drilling have permitted the
adoption of UCG, which is leading to increased environmental protection
and process efficiency.
Underground gasification is advantageous in terms of pressure range and
feedstock compared with coal gasifiers. The feedstock need not be mined
and brought to the surface or transported to gasification plants that
provide substantial cost advantages. Furthermore, there is no need to
build a surface plant or mine the coal. This is an economic benefit.
“UCG is also a low-carbon-emitting technology for power generation,
and it reduces greenhouse gas emissions by almost one-fifth. The
combination of environmental and economic benefits of UCG increases
syngas production through this process,” says a senior analyst at
Technavio for research on oil
and gas.
Looking for more information on this market? Request
a free sample report
Technavio’s sample reports are free of charge and contain multiple
sections of the report such as the market size and forecast, drivers,
challenges, trends, and more.
Global syngas market segmentation
This market research report segments the global syngas
market into the following applications (chemicals and gaseous fuels) and
key regions (the Americas, APAC, and EMEA).
The chemicals segment accounted for the largest market share of the
global syngas market in 2017. Syngas is used to produce a variety of
chemicals such as methanol, dimethyl ether, and ammonia. Natural gas is
extensively used to produce methanol that is used to produce
formaldehyde, acetic acid, and other chemical intermediates.
In 2017, the global syngas market was dominated by APAC with a market
share of more than 72%. APAC was followed by EMEA and the Americas
respectively. The market share of APAC is anticipated to increase by
approximately 14% by 2022.
|
Technavio’s best deals of the month!
Mark the beginning of spring with Technavio. Get 30% discount
on all energy
reports. Offer valid from 12th March for a
limited period.
OR
Get 20% off on all media
and entertainment services reports. Offer valid only till
the 31st of March.
|
About Technavio
Technavio
is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio’s comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team
at media@technavio.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180331005014/en/
Copyright Business Wire 2018