Global Syngas and Derivatives Market anticipated to rise at a CAGR of 9.4% during 2016–2024

Albany, New York, April 3, 2017: Market Research Reports Search Engine (MRRSE) has recently announced the addition of a report to its vast repository. This report is titled as ‘Global Syngas and Derivatives Market – Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024’. It examines the present as well as future prospects of the global syngas and derivatives market. The study presents forecast between 2016 and 2024 based on volume with 2015 as the base year. Drivers, restraints, risks and opportunities related to the industry are also discussed in the report.

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Syngas or synthesis gas is a hydrocarbon derived from feedstock such as coal, petroleum, natural gas and others. It is used as a fuel and for manufacturing other chemicals. According to Transparency Market Research, global syngas and derivatives market is anticipated to rise at a CAGR of 9.40% during 2016-2024. At this pace, it will reach 256,605 MWth (Megawatt Thermal) by the end of 2024 from 115,000 MWth noted in 2015. The report also provides Porter’s analysis to determine the level of competition in the market, keeping in mind factors such as threat of substitutes, bargaining power of buyers, bargaining power of suppliers, threat of new entrants and value chain analysis.

As per the key findings of the report, the growing need to reduce the dependency on fossil fuels, as fossil fuel reserves are limited will be the key driving force behind the significant rise in its market. The market may also face some hindrances such as shortage of capital investment and funding over the coming few years. Growth rate, raw material availability, impact strength, technology, market share, competition, and other factors such as environmental and legal have been evaluated in the report in order to derive the general attractiveness of the market.

The report provides a comprehensive view of the syngas and derivatives market by segregating it on the basis of feedstock, production technology, end user and geographical regions. Based on end user, the market has been segmented into power generation, liquid fuels, chemicals and gaseous fuels. Each segment has been analyzed based on historic, present and future trends.

Regional segmentation includes the following areas:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA).

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Global market scenario including market value share & market volume forecast, market attractiveness and production technology is briefly analyzed in the report. Moreover, the report comprises country level analysis in terms of market share and volume for end user segments.

Major companies operating in the industry are the Linde Group, Syngas Technology LLC, Siemens AG, Chicago Bridge & Iron Co. N.V., Sasol Ltd., Haldor Topsoe A/S, BASF SE, Air Products & Chemicals Inc., AMEC Foster Wheeler Plc., and Air Liquide SA.

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