March 31, 2018 - 8:03 AM EDT
Print Email Article Font Down Font Up
Global Syngas Market - Flexibility in Feedstock to Propel Growth| Technavio

LONDON

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. (Gr ...

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.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com


Source: Business Wire (March 31, 2018 - 8:03 AM EDT)

News by QuoteMedia
www.quotemedia.com

Legal Notice