CHICAGO, August 11, 2015 /PRNewswire/ --
The report "Syngas & Derivatives Market by End Use (Chemicals, Power Generation, Liquid Fuels, Gaseous Fuels), by Feedstock (Coal, Petroleum, Natural Gas & Biomass/Waste), by Production Technology, & by Gasifier - Global Forecasts to 2020", published by MarketsandMarkets, The global Syngas Production was recorded at 116,600.0 MWth in 2014 and is projected to reach 213,100.0 MWth by 2020, at a CAGR of 9.5% between 2015 and 2020.
Browse 114 Tables and 78 Figures spread through 210 Pages and in-depth TOC on "Syngas & Derivatives Market".
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The market report defines and segments the market with analysis and forecasting of consumption of syngas and its derivatives. The syngas consumption for various end uses is expected to grow to 213,100 MW thermal by 2020.
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The rising demand for fuels, electricity, and agricultural products is expected to drive the growth of the Syngas and Derivatives Market at a rapid rate during the forecast period. The demand for better fuels, electricity, and fertilizers to cater to the growing population across the globe is expected to result in the growth of the Syngas and Derivatives Market. There are new syngas production plants being constructed in China which will use coal as feedstock due to presence of abundant coal reserves in China. Syngas, which uses coal as feedstock, is being regarded as the best alternative for gaseous and liquid fuel production. In addition, polygeneration is one of the main factors driving the Syngas and Derivatives Market, mainly as it can be used to simultaneously derive chemicals and fuels for power generation.
Chemical production is the most widely used application of syngas. The chemicals such as ammonia, methanol, di-methyl ether, oxo-chemicals, and hydrogen are the most popular chemicals produced using syngas. The methanol is further used to derive lot of derivatives such as formaldehyde and olefins, along with other liquid fuels. The increasing use of the derivatives in different industrial appliacations is further driving the syngas market and this trend is expected to sustain over the forecast period of 2015-2020.
The restraining force for the Syngas and Derivatives Market is high capital investments and time. The building of operational plant from designing phase to completion with hi-tech gasification technology takes a long time, which also results in requirement of higher budgets. The geographical location also plays an important role as there should be continuous availability of feedstock for the gasification processes.
The report has covered the Syngas and Derivatives Market and forecasts till 2020 and has taken all the factors into consideration. The plants under construction, feedstocks, and gasification technology have all been taken into consideration in the market analysis. The report depicts the present and future trends and has segmented the market on the basis of feedstock, which includes coal, petroleum, natural gas, and biomass/waste. The various end use applications covered in the report include production of chemicals [such as methanol, ammonia, DME (Dimethyl Ether), and hydrogen, among others] in terms of consumption volume and value. The market sizes across various regions, namely Asia-Pacific, Middle-East & Africa, North America, Europe, and South America, along with their respective countries, such as China, Australia, South Korea, Qatar, the U.S., Canada, and Brazil, among others, have been discussed in the report in detail. The production data on the basis of gasifiers and production technology used have also been provided in this report.
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